Trader’s Log: Interesting USO, Bad GDX
Some interesting thing i notice about USO. It looks like another day another 50day EMA test for USO. Watch the previous few price action and you can see that you should expect a big selling at the moving average rather than buying. Should it be a successful breaked, look for it to correct back to settle on the moving average.
In contrast, my GDX trade have gone bad. My stop loss have been reached but i am giving this trade a few more days. If it moves below 31 dollars, i will close it for loss.
Gold stocks have a certain characteristic which is to really whipsaw and throw traders off.
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