GDXJ has shown great strength and my short taken during the congestion must be closed.
Entry 40.76 closed 43.95. - 3.19. I knew this was somewhat of a risky trade going into it as gold stocks are notorious for choppy actions and fake breakouts in both directions. So I positioned size accordingly. 1.5% loss here.
Today's break was on high volume, which suggests I should look for long plays in some of the miners included in the ETF.
New Positions: In at 155.50. A very nice move out of congestion. I'm playing this a smaller than normal so I have a stop at 151.90 .
Since ORLY broke out I'm anticipating that AZO will follow. So I picked up some calls:
On options my risk and position size is set assuming a $0.00 so I'm risking .05%R here.
What has me excited about both of these stocks is their monthly charts, A breakout on the weekly charts could produce some very big moves:
ORLY weekly (dynamic):