goldbug1

goldbug1

Gold continues to show a strong bullish leg and where we expected a pullback, the market simply took that level out. Yet we are approaching a significant broader term resistance level at 1366, so there is still some room to run here? There are numerous EW patterns that are still in play here and this is just one of them. Do not ever think there is not another...

goldbug1

Nothing like an 11% pullback after a 2 week 25% rally to get the Bitcoin Drama Queens all riled up. You have to be kidding, but unfortunately I am not. I'm often stunned by the ignorant posts in Facebook groups like "TA experts are silent" or the best one from a proposed "expert" titled "quick, cover your tracks, delete all your bullish posts!". Ohh brother...

goldbug1

We generally use the S&P chart for stock and options positioning, yet the NASDAQ may be a preclude to a topping pattern here. Often we hear of wedge and triangle patterns that magically fore-tell of a breakout or correction. Yet we should be cautious on trading any pattern alone, as often they form randomly and by themselves can not be taken at face value. ...

goldbug1

Over the years I have found that markets generally trend to the upside over time. New participants create new buyers and old school investors like myself, well we simply do not sell our gold. I know there will be 5 comments on how gold has real world uses, you can hold it in your hand, and blah blah blah. Hey you are talking to a guy that loves gold so there is...

goldbug1

The challenge with scaling has been an issue not only with Ethereum, but in the space in general. The more data the more the larger the chain and the slower the network. I remember back in college as an intern in the physics lab, when we still had dial up modems, I asked Dr. Zheng that it would be great if we could download a movie to our computer. At that time...

goldbug1 Updated 

The recent move has been positive for the space overall, with Litecoin' actually leading the rally. Yet over the past couple days, the market has been just jerking around not doing much one way or the other. There are some signs of renewed interest in the market, with individual coins like Dash or Ethereum' breaking out and pushing shorter term highs. In...

goldbug1

Another week passes and the crypto space is about as lame an 80's chick flick. There is not much going on which is leading to many simply throwing in the towel out of frustration at this point. It is difficult to post a daily article on Bitcoin' as pretty much the past few weeks nothing has changed. Bitcoin' is attempting to make a soft landing and form the...

goldbug1

One thing we know, is though time changes, and a new generation of traders and investors enter the market, history still repeats. The same is observed with herd behavior in the wild. Two or three generations go by the herd still migrates as it has done for 1000's of years. Trading and investing is no different. This is not something new, and the proof this...

goldbug1

ATVI is one of the stocks on our short list for our aggressive options strategy as well as a potential swing trade setup. Looking for longs on a pullback and reversal with a shorter term target of 60.0. Take two may be the best in breed here, but a rising tide raises all ships, and this is a less expensive stock to trade. This is a perfect candidate for using...

goldbug1

Bitcoin' continues to consolidate as the market looks for direction, however are buyers drying up? The current pattern and price action may hold the clues and it may be prime for a market short raid. Overview: The initial rally off from 3100 caught a lot of shorts by surprise, however, it appears that momentum is stalling, and perhaps starting to show some...

goldbug1

Bitcoin' is struggling to rally here, and though we expect this to be part of a bullish reversal, the longer it lingers without a solid swing to the upside, the potential for pushing lower increases. This may seem contrary to what I said back in October when Bitcoin' was trading at 6k, but it is about context concerning time and position. Coming off a low in an...

goldbug1

Funny how many so called "analysts" were calling for 1500-2000 just a couple weeks ago, have dumped their bear buddies and are now calling for 5k and higher. They simply feed into the frenzy with wave counts, diverging MACD's, and a bunch of crap that creates fear and FOMO. Great job guys, only a couple weeks ago they had you selling the bottom, now they are...

goldbug1

This is one that is surely not for the faint of heart. Looking for a rebound faking out the shorts and a bullish reversal towards 82.50 initially. Highly volatile and very risky trade instrument here. Lower support is around 48.50 and this would be an area I would look to sell another PUT contract. Premiums are just too good to pass up for shorter term...

goldbug1

While the rest of the market was getting pounded, NBEV is bucking the trend. There must be demand for this stock as they introduced weekly option dates which makes it a much better options trading vehicle. Initial target of 7.50 would be an area to look to sell covered calls or fade into strength or a pullback towards 6.0 looking to sell puts. Final target...

goldbug1 Updated 

So goes Bitcoin', so goes the market. Regardless of the coin, with very few exceptions, the market is trading as a sector and very much correlated to Bitcoin'. No different than how the NASDAQ is heavily correlated with Apple' Amazon' Microsoft' and Google'. Or how the semi conductor sector is pretty much correlated. Most of the charts look the same. So why in...

goldbug1

As the semi sector continues to be hammered this one is breaking out. The 262 level is an important extension, and an area to look for a reversal and pullback as traders exit long positions. We are looking for a pullback to the 235 level and bullish reversal for a potential swing trade. No sense in chasing, when it is likely we get better prices in the near...

goldbug1

The tech sector continues to get hammered and it brings down the good with the bad. Qualcomm' is still undervalued here in my opinion, and as we closed out our recent options contract for a profit we are looking for another re-entry. Initially the bullish swing looked promising, but the recent bars are showing we likely retest the lows, between 54.0-56.0. What...

goldbug1

Qualcomm is building a nice bullish reversal structure off the key 54.0 level and is poised to move higher. Initial resistance is 62.0 but if broken shouldn't take long to test the 68.0 in the next month. With the introduction of the first 5G phone next year, they are way ahead of the others. Beaten up, left for dead, time to look to add this quality dividend...