20Jan10:41 amEST
Locking in More of a Big Win; Chess Moves
I sold another half of my NUGT long @ $20.37 from $16.88 entry noted in this blog post. I also previously scaled gains at $18.96 in this post.
I am down to a small "runner" in the position now, willing to let it ride in case gold miners continue to go crazy to the upside. I raised my stop-loss up to $18.
Overall, the precious metals and miners are off to a terrific start in 2015, as I suspected they were set-up to do.
While copper and crude oil has enticed many a bull, I still do not see many compelling reasons to get involved there n the long side for any meaningful trades.
To be sure, metals and miners are overbought here. However, I will be back later this morning with more analysis about that very issue.