In and Out with the Pirate's Booty

We still have a fickle, rangebound market on our hands, despite how giddy the tape felt at times yesterday during that snapback rally from oversold conditions late-last week. 

Beyond that, the China news overnight regarding the Yuan currency added headline risk across virtually all asset classes, with many commodities giving up a sizable chunk of their rallies yesterday. 

That said, we were able to quickly get in-and-out of the junior gold miners, using the triple-long ETF, JNUG, as the trading vehicle, for a nice win at $9.34 this morning from an $8.52 entry yesterday. Depending on how the miners consolidate intraday, I may very well reenter the trade inside Market Chess Subscription Services later today. 

In addition, I focused on the miners yesterday in lieu of taking setups like GPRO in equities, mostly because so may eyes were on GPRO and plenty of stocks tend to move um sympathy with the broad market, which we know is putting pressure on many breakout plays at the moment. 

Elsewhere, NVAX and SHAK are gapping up today, post-earnings and may be day-trading vehicles if they can defy the market's weakness. 

And GOOGL is gapping up after the Alpahabet news yesterday. If the market remains weak today and this week, I suspect the name could be  gap-fill candidate lower.