The TSI Trader offers technical analysis of the stock market, gold and selected mining stocks using the True Strength Index (TSI). The True Strength Index is a sophisticated 'low-lag time' momentum indicator. Projected earnings of mining company stocks are provided weekly by Bill Matlack's Metals and Mining Analysts' Ratings and Estimates report published at Kitco and are used to highlight some mining stocks for study.
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Wednesday, January 11, 2012
Sold DUST @ $35.99
I was pleasantly surprised to see my position in Direxion's Gold Miner Bear 3X ETF (DUST) rising in the pre-market and after the opening bell. But I had to make the responsible decision to not try and serve two masters - my trade and my class. So I sold.... @ $35.99 ..... and got on with teaching my students.
My TSI Trading Record has been updated.
A more current look at DUST on this 4 Hour Chart (below) shows some strong BUY signals in place. Not shown is a chart of the S&P 500 which looks like it is holding up by a prayer - or so says the TSI. Should the stock market begin its daily cycle ending correction soon I imagine DUST could do well, and I may re buy it at some point.
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