Thursday, October 22, 2015

Current Position Update

I loaded up on calls in NUGT and AGQ yesterday.

A dip from here before next week is still in the cards and a retrace back to longer period MAs should be bought. However, we may just run higher into mid-November.

If you missed the run before, scale in now but prepare for potential drawdown in the shorter term.  GDX and GDXJ should see fresh highs before month end.

Current Positions


100 Mar16 42/52 Vertical call spread @ $297 Debit (if you are not familiar with call spreads, do not attempt to make this trade)
100 - AG Jan17 2.50 call @ $179 basis
200 - AGQ Mar16 41 call @ $285 basis
300 - TZA shares @ 46.17 basis
20 - SPY Jan 16 193 Put @ 4.24 basis

Long term

Accumulating shares in GDX, GDXJ, SIL, UCO, XLE for 1 - 3 year hold

Friday, September 18, 2015


I finally closed out my JNUG, NUGT, and USLV bullish positions here with massive profits.

I expect this to be a long term trend change for the miners and we are headed much, much in the intermediate and longer term.

I will look to re-enter some equity positions in JNUG and NUGT on the next move lower.

My long term positions in GDX, GDXJ, SLW, NEM, and AG are all intact.

Wednesday, August 12, 2015


I locked all of my gains today in $NUGT and $JNUG securing massive gains.  I have made over 20% on my account over the past week with minimal risk.

I sold half my Jan17 $10 calls on $JNUG for double the premium.  Risk removed.

 I am holding 100% of my Jan17 $5 calls on $NUGT and turning them into call spreads by selling Jan17 $8 calls @ 1.75 with order pending.

Great Great Great week ;-)

Monday, August 10, 2015


After taking a major hiatus from blogging, I have decided to start blogging again.

Over the past three years, a great deal has changed in regards to my trading strategy.  I will use this as a trade journal to document my thoughts and my ideas and keep a record of my positions.

Today I took profits out of my gold and silver mining equity shares for nice gains from last week in JNUG, NUGT, and USLV but I am still holding my options on JNUG and NUGT.


35  JAN17 $10 Call JNUG   Cost basis: $4.85
150 JAN17   $5 Call NUGT  Cost Basis:  $1.39

I believe we are about to witness a short term squeeze in gold and silver mining shares over the next few months that will make these positions highly profitable.  The trade plan is to pull half of the calls when I am up 100%.  If we see a down move in miners this month, I expect it to be followed by massive short covering and may add to my position.

Trade Safe,