ETF Trading Research 7/23/2019

TVIX is down 11.42% the last 2 trading days so giving it a shot overnight. Market is still complacent and today we attempted some longs and profited. With the choppiness, decided to sell and see what tomorrow brings, especially since we got a sell signal in LABU. But SVXY went to a buy again and gave us some confidence going long which we did to the resistance at 3003/3007 which was our goal. From here it is still buy the dip to 2994 but below 2994 go short. TVIX below 2994 should be a leader. At some point it will catch momentum. When we don’t know. Could be from 3100+ at this point but will day trade it now and then at extreme moves like last 2 days. The Fed will dictate and we will ride trend up or down. Use the nightly report for guidance.

We got short miners again. Gold technically has been doing what I think it will, except for that blip last Thursday with Williams comments on .50 lowering of rates. Nonsense that it was, miners took off, but gold gave back the next day and miners did not as much. I still think they will and below 1412 we should see momentum down to 1400 and from there make decisions on the current trade. Nice to get a signal to sell JNUG and NUGT but we may get sell in UGLD first. We’ll use that to tell us to hold on longer to our shorts. Got to give this trade a chance to get back some of the last trade in them. All the signs are there, especially the stronger dollar. But hard for gold bugs to sell still. Smart ones did today and I recommended it.

I wrote this morning that I lean short nat gas and it is down 2 cents.

Was neutral oil.

Today went as planned but miners still owe us. Let’s see if we can’t nibble away at it and get to some double digit returns possibly. We only got stopped out of the original trade by a few pennies darn it.

The next GBTC buy signal we will buy. More risk with Bitcoin, but this will be the 3rd buy signal and the last 2 got 10% to 30% moves. That’s worth going for.