Two swing trades short ABX. The first was a short following failure to BO on test of previous high. We noted on July 6th that the gold hedge against a weak Euro was out of favor because the Euro reversal had proven quite strong. I waited for price to retrace 50% and I covered as price approached 200 SMA.The second trade, depicted below is the same principle, 50 % retrace of last leg down (points A to B). Now price has taken out the 200 SMA and we are targeting point C - 50% extension. ABX reports tomorrow in pre-market. I hope price will not regain 200 SMA, but if it does I will cover half.
POT is a swing long, the day after markets reversed. I sold half today as price retested the base ahead of earnings tomorrow morning. I'm not optimistic on favorable earnings, but I think the bottom is in and the sector will continue higher based on crop commodity prices and severe global weather conditions.
Tidak ada komentar:
Posting Komentar