CEFL in Extreme Overbought

Ok, CEFL is now hit 80 RSI…and the ADX is overbought. Doesn’t mean trend is changing but proper trade management says lock in some of the $1.00 in gains on the 2nd lot of 1000 shares. I am selling 55 shares to raise basically $1000 in cash.  I am staying long 1945 shares until price closes below the 20 day simple moving average. Been a great month trading high yield. Very profitable.

cefl42717

 

Trouble in gold market?

Something a foot, gold continues to climb but junior mining stocks (gdxj) are dropping but large cap miners (gdx) have gradually climbed. We have a disconnect. In addition to the apparent divergence RSI hit 74. I sold 1/10 my UGLD position to lock in some this 10% profit on this trade. 

Bonds continue work as hedge I’m long TMF up about 8%, chart looks good stay the course. 

Oil is up but oil stocks have divergenced. Similar to gold and the miners. 


Junior miners