***RoughDollars Best Charts - May 27, 2016 - $GDM, JNUG, GDX Double Top on 5-17.<</

Edward Hunt Has Had Over 100 Followers Rank: 18 Followers: 118 Votes: 328 Years Member: 7 Last Update: 27 May 2016, 18:26 Categories: Trend Analysis
General Market Commentary
ETFs

May 27> Gold has corrected down to $1221. This is support and this area must hold. If support does not hold, lower prices will follow. Overnite Hong Kong gold traders can move the gold market fast so be careful with the gold Etf's. Am working on a couple 5 min trading charts for JNUG and JDST. Simple clean, easy to follow with no clutter. JNUG, NUGT, DUST and JDST are to be traded ONLY IF YOU CAN WATCH THE COMPUTER, not left unattended to go uptown and ONLY TRADE WITH STOPS. Do not trade JNUG and NUGT before successfully trading DUST and JDST and do (paper trading first). JNUG and NUGT are stair casing down while DUST and JDST are stair casing up. Playing up trends are always best. What goes down can always go down further. JNUG has lost almost 50% off its $183 high. Only a traders market my friend.... These charts will be up this morning. New charts up in the stock section for LABU, UBIO, SVXY and XIV working well, with SVXY up $6.25 for the week, this being very respectable.

May 27 > JDST and NUGT both turned at 11:30 on the 5 min chart.....Did you see it? Did you catch it? Do not hold gold Etf's over the long weekend....your choice of course.

Have a great day. ...
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$ JDST 5 MIN 5 DAY - ELDER SYSTEM, 1280

$ JNUG - 5 MIN 5 DAY - ELDER SYSTEM, 1280

1a $INDU - 2 hour 1 year Heikin-Ashi, 1280

'Getting Back to Basics.'

Trading can be simple, or it can be complicated and confusing with frustration. First, remember this: One cannot be successful at trading until one has had trading losses. Yes and that includes myself. From trading losses, trading mistakes must be learned, accepted, then not to be anticipated in the future. How can this be done?

1.Know what you are trading and the leverage it gives.
2. Know what your goal and target value possibility that you anticipate.
3. Know what your loss from trading may be. This will be by getting out right away if your entry point goes against you. (Only trade using stop Losses.) Continue to move stops up on winning trades. Of course absolute losses are never known until they occur....i.e sudden loss in value.
4.Trade from charts that are clean, easy to read and understand. If you don't understand the trading vehicle, don't trade it.
5. Avoid excessive trading and keep it simple. Do your own due diligence.

Trade what has been tested and proven to give winning results. What I suggest for those learning is to start with trading Etf weekly Renko charts. These include DRN, MIDU, SOXL TECL, TNA, QLD and SPXL. These are my seven Basic Etf's which covers most of the broad market. These Etfs are shown and can be traded from my chart list and yes, experienced traders can trade these too. Do check out their performance. One can check the daily strength of the market by keeping $NASI, $NYMO and $NYSE in daily view..

1a $INDU - Daily 1 Year 7 Mo Solid Line 1280

1a $INDU - Daily 1 Year Candlesticks, 1280

May 16 >The stock market today is calling to investors just as the sirens of Greek mythology called to sailors drawing them into their rocky shores only to be shipwrecked. Extrapolating the fantastic recent returns into the future despite all the evidence against it is succumbing to the stock markets perfidious seduction. And history suggests that is almost a sure path to shipwreck. The $INDU 150 point up and down every few days is showing indecision of direction of trend. This appears to be part of the topping process...which will take some time, especially when the bull is over 7 years old. Be patient... Don't know what the catalyst will be that reverses the market and when that might happen but as sure as the tides ebb and flow, the markets will eventually turn back down. Be prepared and be able to spot the catalyst and turn when it happens. Many sectors have been hit hard and days like today are days to sell into the high flyers for those who have them. ...

1a $INDU- Daily 1 Yr Candlesticks, 1280

May 19 > AM > How convenient was it for DUST and JNUG to reverse 10:1 on the day of the FOMC meeting May 18th? The big boys already knew the results of Yellens address. No rate hike today but possibly in June. The metals absolutely tanked in a heart beat.. Why you say? Higher interest rates mean a higher $USD and that means lower metal prices and also lower stock prices. The BDT and the Phi Mate dates shown on the $NYSE chart may be meaniingful this time around. The $INDU possibly broke its support level so far today. Buy TVIX around $3.00 and be patient. TVIX today has broke above its one year downtrend line for a new possible change of trend. I have prepared the new stock list and it is now in effect. It is more organized and easier to track with a smaller list. Yes all the gold charts are there and will be under the gold section, starting page 4. $BPGDM says miners may have topped for now, course that can change too. CLM and CRF are cratering along with the market. Both have blue chip stocks and at times can move fast either up or down and both can make money for one, trading the indicators, not having the volatility of gold and related Etf's and stocks.

1aa $INDU - 1 hour Solid Line, 1280

1aa $INDU - 2 Hour 4 Mo, Candlesticks, 1280

1ab $INDU *****- daily PnF, 780

1ab $INDU - Daily 1 Yr Candlesticks, 1280

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