Trader’s Log: Closing GDX at a Loss
USO looks to be doing the same merry go round thing again. When will it clear that resistance????
I Closed out the GDX trade at a 10% loss. It looks like i should take a stronger indication from the negative divergence that i mentioned previously. Nevertheless lesson learnt is really to see the actual signal then to anticipate for it. Glad that i managed to close it as it close more down then the price i closed at.
Key levels that we look at are 28 bucks and whether it will cover the gap at 26.
Big up day! The rebound everything is waiting for. But will it hold? I serioulsy do not want to guess. There are many 5% moves in the past that fizzles out to nothing. this is likely as well.
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- Trading Log:I am neutral on this. $SPY,$EEM,$GDX
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