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