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Friday, June 28, 2013

Stock and ETF newsletter 6/28/2013: GLD, UPL, GDX SAN

Swing Trade:


$UGL ($GLD long)


Yesterday’s Long in Gold played out well. Gold holds the early morning sell and gave a big reverse with high volume. I expect the major selling by hedge fund in pain is done (at least in short term). Today is the end of this Qtr, some painful decisions have to be made in funds that are down huge with Gold.  I still hold full position and may see some players start to pick it up for next Qtr.
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It’s a Friday and only 3 hours into trading. Volume already comes big.

$GDX


Scaled in some pieces of $GDX this week. It has shown some diverge from $GLD. And today’s surge with volume is encouraging. I’d like to see it hold this $23.5 level and may start to challenge the down gap next week. Still hold in full position.
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$SNV


Have held this half position for a while start to see potential break up. Will just let it run. Set alert at $2.6.
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Happy weekend.
Peace.

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