Well what a week we had last week on the blog and in the traders lounge! Last week my post was "All things Silver and Gold" and boy did that turn out to be two killer trades! On every dip I added to my GLD and SLV the ETF's for sliver and gold, and would take some off on the nice pops and reloaded on dips. Wow what a week we had in the lounge as most everyone followed along with me.
Also another killer trade has been my BP trade that has been just kicking butt! Allot of folks kept calling for long on other blogs and I stuck to my guns and waited for 27 and we nailed it! It broke the illusive 29 and even traded below 27!!! So another killer trade there, I took off 2/3 of my puts for a total of 7500$ and still have on 3000 profits on the ones left.
Here is the actual screen shot of my account :-)
So if you were with me on that one trade for 100$ subscription you could have banked 7500!! Now if that's not worth the subscription then I don't know what is except we made more on GLD and SLV. And just to remind you, my sub money goes to help the animals that I care for 42 a day. So there is a win win for you, helping yourself bank some serious money, have fun and help a great cause.
Now on for this week I have 2 videos as one of two things could happen, we could form a higher low and move up to finish the right shoulder on the H&S, then tanking, or we could back test the wedge and bounce there or fall through roll over and just head on down to the 1050, where if that's invaded, we are going to see some very bearish action. Now the lower high and a push above the 50 day MA is still on the table. We will know more this week, We are below the 20 day MA so this should be quite the week. I do expect the bulls to try and rally above the 50 Day to finish the Wave 2, it is possible that we have finished Wave 2 and are going into our 3 Wave. Now elliott Wave it quite subjective and has to be used in conjunction with all the tools you have in your TA tool kit.
I am still bullish on Gold and Siver although we could see some profit taking, but again I will add GLD and SLV on any nice dips. So enjoy the videos and enjoy your weekend and see you soon I hope.
