I’ll provide tracking guidance for 400 shares acquired yesterday @ 16.46, since the buy signal proffered in the chat room matched crystal-clear instructions I’d touted as well. My expectations for this trade are not high, since GDXJ appears to be struggling too hard to maintain loft after Wednesday’s promising impulsive thrust. For today, use a fixed stop-loss at 16.20. The chart shows the significance of this number, a diminutive but important ‘external’ low. _______ UPDATE (March 18, 1:23 a.m. EDT): Exit a round lot on the opening and use an impulse-leg stop based on the hourly chart for the rest. As of Monday morning, it would require an unpaused fall touching 16.56 to stop out the position. ______ UPDATE (1:25 p.m.): We exited 100 shares on the opening for 17.10, giving us an adjusted cost basis of 16.25 for the 300 shares that remain. For now, tie them to a stop-loss at 16.25, a single tick beneath the key low of 3/14. (Note: I am not acknowledging the Frankenbar print at 15.51 that Tradestation recorded on Monday’s opening, since it couldn’t have been real. We still hold a 300-share position with a 16.25 stop.) _______ UPDATE (April 1, 11:10 a.m. EDT): On a so-far intraday low of 16.24 this morning, the position has been stopped out for no gain or loss. One of these years, possibly in our time, bullion will be a buy-and-hold bet. But not now.
