06Jan10:21 amEST

Scale and Trail a Winner; Chess Moves

B6mZ0M3CAAAhpu5.jpg-large Into this opening pop higher in metals and miners this morning, I sold half of my NUGT long at $14.47. I announced an entry into a long NUGT position yesterday in this blog post. My entry was down at $12.84. So I will now trail up my protective stop-loss to that entry price. I may very well add back to NUGT. But trading around such a fast-moving instrument is usually correct due to the gapping nature of miners and their derivative ETFs. Overall, I am impressed with the strength in metals and miners this morning and am actively looking for new trades. Still, gains are hard-fought and I am going to protect them when I can. More on this in a bit.

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