Official Short-term Investments Thread

[SilverRex]

update.

ok its only a matter of time when gold price will drop and for all I know it could have already happened, but here is another interesting thing to add to the downside

I think gold is forming an ascending broadening pattern, this is when the chart looks like a megaphone pointing up.

now the thing that is scary is this is usually a bearish pattern that can break to the down side however I have seen charts where the breakout could be on the upside as well but one thing is certain with this pattern, it will head to the bottom side of the pattern

there fore I suspect it will find its way back down to the 875-880 area in due time.

and so for those who missed the boat eariler in the year now have a chance to get back in lower.

Now with that said, does that mean shorting gold is another play short term? I think so, hack perhaps HGD and HBD will be a good play for the next little while.

[max_boost]

Oil is on fire. Already up over 3%. HOU is going to gap up and open around $5.

Good call SR, didn't you buy your HOU around $4.20? :bigpimp:

I'm not so sure if I want to get back in anymore lol although I suspect we might see around +$2.50 in oil today.

[SilverRex]

^

while gold can still push for a nearterm double top or a bit higher for a negative divergence I think its is written in stone then a pull back is inevitable. therefore short gold/gold shares until it gets back to at least the 900 area.


and for the market, think a rally is in the work that will at least bring DOW back to 8000-8250 area. obviously it will continue to trend lower but each time it dips lower it will rally back and so this could be the on going pattern for many months.

[max_boost]

Originally posted by eljefe
Yes Yes Yes !! SCORE

NOVA Chemicals (NCX) announced an agreement to be bought out at $6 US (7.52 Canadian). If you bought it last week you are a winner today. It closed at $1.66 Friday.

Huge winner indeed. :thumbsup:

[997TT]

Out of HOU now ... took that one up the a**.

oh well ... onto the next loser. Try not to post what your buying b/c if i get in on that stock it'll be sure to go down.

[natejj]

Originally posted by 997TT
Out of HOU now ... took that one up the a**.

oh well ... onto the next loser. Try not to post what your buying b/c if i get in on that stock it'll be sure to go down.

Everyone hits a rough patch sooner or later... It'll pass.

[max_boost]

Originally posted by 997TT
Out of HOU now ... took that one up the a**.

oh well ... onto the next loser. Try not to post what your buying b/c if i get in on that stock it'll be sure to go down.

Committment, Discipline, Confidence. You'll get it back. There will always be opportunity.

Anyway, I'm into HOU with a 5% stop loss. Riding the trend.

[jonnycat]

Dammit, missed out on NCX this morning 300% jump. $1.44 - $6.77 in the first hour. I knew it would happen, fuck

[SilverRex]

update:

gold after testing 977 to the money this morning, gold is now back to 990 and should make another run towards 1000 (I got in 977 ;))

so let see how much more strength this stuff has left before it starts to drop big

[Beerking]

Originally posted by jonnycat
Dammit, missed out on NCX this morning 300% jump. $1.44 - $6.77 in the first hour. I knew it would happen, fuck

WHAT?:nut:

[Z_Fan]

Originally posted by natejj


Ohhh you get me all excited when you talk like that....

Got my BAC at 3.00

Yeah, well, it did open up nicely and gap but it isn't going up as well as I had thought it might. But it's just now starting to behave a little more like it was in the past. Strong rallies, small drops, strong rallies, small drop rinse and repeated all day long. So if it does this again, it could still wind up being a great day for BAC holders who bought the other day low, like you.

[jonnycat]

Originally posted by Beerking


WHAT?:nut:

They were just purchased by a Dubai company for 2.3b (about $6/share) when current value was 1.44 / share.

[bigbadboss101]

May be some richie richie will do the same for Oilexco. Yup I am still dreaming high.

[LBG]

Originally posted by bigbadboss101
May be some richie richie will do the same for Oilexco. Yup I am still dreaming high.

didn't they get delisted?

[e36bmw///]

nm

[Legless_Marine2]

Originally posted by LBG


didn't they get delisted?

Oilexco was Delisted off of TSE, but isn't dead yet.

Still trading on LON and now trading on TSE.v in Canada.

It ain't over until the fat lady sings. Huge opportunity for those with the stones.

[civic_rida]

Any thoughts on hou?

[civic_rida]

I want a rally

[SilverRex]

right now i think the market is trying to find a bottom, knowing friday it had closed below its november low, alot of people are watching closely.

while this is suppose to be very bearish technically however I think the worse day is behind us (oct) when the market would tank 10%

if anything DOW chart looks like it is also forming a descending broadening wedge which is suppose to be bullish in the long haul but right now it will trade in the range by making new lows and pushing back to the top of the trendline which is probablly around 8250

I suspect if that is so then DOW may want to find support around 6900-7000 area before making a decent rally.

gold/silver is also going to be finding a top and make its range from top to bottom

lots of opportunity here folks

[Z_Fan]

Should have bought HOD the moment Max_Boost said he was buying HOU. ;) :poosie:

[Beerking]

Originally posted by jonnycat


They were just purchased by a Dubai company for 2.3b (about $6/share) when current value was 1.44 / share.

How did you find out, I would love to know big tips like this when it counts.:love:

More importantly if you knew, why did you not jump on that?

[SilverRex]

Originally posted by Z_Fan
Should have bought HOD the moment Max_Boost said he was buying HOU. ;) :poosie:

just be patient, we are almost there, HOD will be a good buy at 34-35 dollars

[civic_rida]

Everytime i buy hou i get screwed.

[max_boost]

Oh snap. Fuck.

Bought HOU at $4.80 and set a 5% stop and bam, the low just hit was $4.56. :facepalm:

Enjoy the oil rally civic_rida, thank me later.

I'll just wait patiently for HOD to pullback.

[max_boost]

Alright, I'll help you guys out. Back into HOD!

Happy Trading.

:thumbsup:

[bigbadboss101]

Is something up with Eldorado? Gold price down, stock price up. I haven't checked news.

[max_boost]

SilverRex, technical update on oil please.

So is that it? That's all oil/hou could muster this time around? :dunno:

[eljefe]

Originally posted by Beerking


How did you find out, I would love to know big tips like this when it counts.:love:

More importantly if you knew, why did you not jump on that?

I bought into it last week at $1.62 - I went on a junk buying spree figuring something that I bought would make it back up or get bought out. I lucked out on Nova- sold it at open for $6.89 , just wish I had bought more!

[max_boost]

Oil dropping fast and hard. I already covered my early morning HOU losses and some. :D

Adjusting my stops as the price (HOD) goes up :D

[SilverRex]

^

oil is still in a semi uptrend with final support at 38.37 and the current 38.84 is also a key to the trendline break. Yes oil could rally from here making it look like it was all but a simple retest before marching higher.

but given the peak at 43-44 is not so far away, I can only say it will remain volatile, and the market direction in the equity realm will dictate where oil goes.

I got out of BAC in the 4.40s and bought back at 4 dollar,

I'm no crystal ball but I have a great feeling the market just wants to find a bottom then there should be somewhat of a rally somewhere just dont know when.

I'm picking up some HOU in the 4.45s and I wont be concerned unless it breaks below 38

I've made some good money on silver this morning from 14 to 14.60 so I can effort to fool around a bit here :D

[max_boost]

Market direction for the TSX will come from the big banks releasing their Q1's.
http://www.google.com/hostednews/canadianpress/article/ALeqM5jH_kClw26wKfR1rcllGdkZ-bL-2A

American government stress testing their big banks on Wednesday. This is going to be a rough ride.

If oil price is taking its direction from the equity markets, it's going to get hammered this week.

[lasthuzzah]

In with Max with HOD. Also bought HXD.TO :)

[jonnycat]

Originally posted by Beerking


How did you find out, I would love to know big tips like this when it counts.:love:

More importantly if you knew, why did you not jump on that?

BNN @ 6:30 am had a breaking news. I'm in the middle of setting up my new account and had no funds in it to buy.

[max_boost]

Originally posted by SilverRex
^

oil is still in a semi uptrend with final support at 38.37 and the current 38.84 is also a key to the trendline break. Yes oil could rally from here making it look like it was all but a simple retest before marching higher.

but given the peak at 43-44 is not so far away, I can only say it will remain volatile, and the market direction in the equity realm will dictate where oil goes.

I got out of BAC in the 4.40s and bought back at 4 dollar,

I'm no crystal ball but I have a great feeling the market just wants to find a bottom then there should be somewhat of a rally somewhere just dont know when.

I'm picking up some HOU in the 4.45s and I wont be concerned unless it breaks below 38

I've made some good money on silver this morning from 14 to 14.60 so I can effort to fool around a bit here :D

$38 might not hold very much longer! :drama: :eek:

[SilverRex]

^

if 38 doesnt hold then next stop 36

[DJ_NAV]

so when are you selling your HOD? i'm thinking 44ish.. maybe 44.25 max

[lasthuzzah]

Out of HOD @ 44.01 and a nice 4K profit. Thanks again Max!!!

18K! I love this thread!!!

Let me know the next time you're buying HOD :)

[Z_Fan]

Originally posted by jonnycat


BNN @ 6:30 am had a breaking news. I'm in the middle of setting up my new account and had no funds in it to buy.

For the record, there was NO opportunity today to get into this deal. It opened over $6.

You had to get in last week, long before this news was available.

[DJ_NAV]

wow.. i got out good at 44.05!.. now to rebuy at 42.

[SilverRex]

wow 38 is holding, now at 39, if price continues to hold above 39 until 1pm then that is a compelte reverse at the 200 day (yet again)

BAC up to 4.35 after broke the downtrendline that was forcing it down to below 4, now im in the green again, GO BAC GO

[max_boost]

Originally posted by lasthuzzah
Out of HOD @ 44.01 and a nice 4K profit. Thanks again Max!!!

18K! I love this thread!!!

Let me know the next time you're buying HOD :)

Wow, nicely done. Get in and get out. :thumbsup:

I'm going to hold on to my HOD a bit longer and see what unravels this week.

Holy fuck, in the last few minutes oil went from -$2 to -$1 and now it's down -$1.70. The ticker on BNN is going :nut:

[SilverRex]

gold and silver is falling YESS

if gold can break the 977 which is now a neckline for head and shoulder pattern (to me anyways) then this would be huge. so is silver which placed a double top at 14.60 lucky for me I sold at 14.60 right at the money. and it too will be significant because this is a partical rise couple with a trendline break below 14.10 then the run will officially be over.

bulls and bear duking it out, so volatile haha

oil bear doesnt want oil to stay above 39 otherwise they would get killed when the next hour rolls over. this next 25 mins will be quite important for the rest of the session

edit: spoke too soon, I guess the market (dow) just has to head to under 7000 before any rally. oil looking more like 36 is in the cards now. and gold/silver I have to wait alittle longer for the pull back :nut:

[max_boost]

Originally posted by DJ_NAV
wow.. i got out good at 44.05!.. now to rebuy at 42. Did you get back in? That one stretch where it gained $1 because of the bulls defending $38 oil.

It is indeed the volatile, getting close to $38 oil again, are the bulls going to defend their territory?

:drama:

[DJ_NAV]

^Nah didn't get in since it never hit $42. now its back up at 44+.

[SilverRex]

^

i think the bulls lost this one at 38 and the DOW is ready to get under 7000 quite soon this week possibly.

who k nows, maybe the 41.50 high was close enough to the 43 (50day movin average?)

chart wise oil looks ready to push below 30 but not without a fight at every stop of the way starting at 36 then 33. Even then anything below 30 you will see alot of buying

[Unikkatil]

Im in HOU at 4.4, any input on it. Will it rally above 5 this week?

[SilverRex]

^

dont take my word for it haha

but it was looking good this morning until all support has been broken, its looking more bearish

[guessboi]

damn should have bought NCX for the past 2 weeks. went up 300% because of the takeover. :banghead:

btw ING insurance's new name will be called "intact insurance"
:D

[max_boost]

Yep. I was bullish too on HOU/Oil too until it hit my stop so without getting all technical, to me it was a reversal so I quickly switched hehe

$30 oil will make me a very happy man lol

[max_boost]

Originally posted by SilverRex
^

i think the bulls lost this one at 38 and the DOW is ready to get under 7000 quite soon this week possibly.

who k nows, maybe the 41.50 high was close enough to the 43 (50day movin average?)



Yep, it's the death quarter right? :devil:

OK seriously, I am shocked that the hou/oil rally only lasted 3 trading sessions but this also confirms how dire the current situation is vs a few months ago.

Oil now at $37.91. I made the right call and switched. :clap:

[DJ_NAV]

looks like i might have sold hod too soon.. its gonna go above 45 today.

[Unikkatil]

Originally posted by SilverRex
^

dont take my word for it haha

but it was looking good this morning until all support has been broken, its looking more bearish

Seems like new support level at 4.2? Broke resistance at 4.75 and then plummeted down siding around 4.25...It also seems like it has gone below 50 on the RSI so a little bearish right now, hopefully it rallies up...Anyone else on HOU and at what price...am i in to high?

[SilverRex]

^

sum it up, oil is a short above 40 and buy below 30 there you have it I think that is as safe as you can get because you get massive bear hunters jumping in when oil is at the extreme high and you have even more oil bulls loading up if oil ever dips in the low 30s. Therefore dont trade anything in between unless you can stomach 10-20% swings on hou/hod.

and I so am ready to see DOW gets a strong bounce somewhere between 6800-7000 therefore pending where oil is get ready for it to move up sharply, of course when DOW tanks, two things can happen either it will accelerate its swoon to below 30 or by the time DOW puts in its short term bottom, oil will move up regradless of where it is, and its only the 23rd, a real oil rally could still be in the cards, and the DOW isnt far off to get below 7000 either.

but for myself
im saving all my dough and still waiting for that dam gold to drop. for Lord knows if it will ever drop but every passing day its looking more and more likely that we will see 2000 gold soon.

one thing will be on our side and that is seasonal weakness, gold usually move side ways or sells off in the summer time and usually bottoms out around late in the year (just like last oct/nov) so just get ready when gold/silver do dive sinficiantly more than normal I would scale down HGU when gold ever gets to 930/900 or below. and hold for a year.

[civic_rida]

i got owned on hou today.

[Unikkatil]

^ at what price are you willing to go in at HGU at?

[max_boost]

civic_rida
^
Set a stop loss next time!

SilverRex,
^

We aren't ready for gold to explode yet. China is entering a deflationary period. Be patient with gold. Inflation isn't setting in anytime soon.

As for oil, well said, that's if you can go long at $30 oil before the rollover kicks in hehe

DJ_NAV
^

HOD is a win stock. If you are worried about oil tanking tomorrow, you can always put forth 1/3 of your position now and average up or down the rest later. No one knows what's going to happen tomorrow but as of right now, everything is pointing towards oil tanking. Perhaps set a tight stop at 5%, that's what I do now.

[max_boost]

Originally posted by Unikkatil
^ at what price are you willing to go in at HGU at?

Ideally somewhere in the $11's.

[Unikkatil]

^ I think yesterday you said you would buy HOU today? Did you get in?

[civic_rida]

He was all bullish on oil sunday and this morning.
Same with silverrex.

[max_boost]

^^

Yes I did. Got in at $4.80 because it was looking so good pre-market. I figure the rally towards $43 oil was imminent but I still set up a stop loss at 5% just in case. Oil rallies once every month but I figured it would last at least longer than 2-3 days :nut: :dunno: It's average rally is 2-3X longer!

Well what do you know, by the time I got to work I got stopped out so I switched to HOD immediately because it indicated a trend reversal. Maybe I was just lucky because I've done it before and got burned at both ends haha but this time it worked out perfectly. My cost on HOD this time is $41.70.
:love: :drool:

[lasthuzzah]

Wow, TSX is getting blown apart. Lucky buy for me (again) on HXD

TSX 6500?? Dow 6500!

[max_boost]

The trend is your friend. I love that line. Until otherwise indicated, shorting the markets is still the way to go. I've been in and out of HSD and HXD but I always get pulled back into HOD. Nothing else can offer you instant +/- 15% returns in a day; providing you are on the right side of things of course lol :eek: :rofl:

High 6000's for the TSX and low 6000's for the DJIA.

The markets got crushed pretty hard today so tomorrow could see a bit of a bounce back. I'll probably buy back in and short the rallies. :D

[liquid1010]

Anybody buying into Gold right now?

[Z_Fan]

I bought three stocks today. Set moderately tight (5%) stop losses on all of them and got stopped out on 1 of 3.

:eek:

Good thing I made a grand on BAC on Friday or I'd be pissed. BAC didn't do what I was hoping. Oh well. :thumbsdow

[Generic]

Originally posted by Z_Fan
I bought three stocks today. Set moderately tight (5%) stop losses on all of them and got stopped out on 1 of 3.

:eek:

Good thing I made a grand on BAC on Friday or I'd be pissed. BAC didn't do what I was hoping. Oh well. :thumbsdow

wtf
haha i made two grand on friday from BAC as well. I did well today too.

[max_boost]

This is going to be a VERY interesting week for banks. How will the CDN banks fare after their Q1's are released? Exactly what will the 'stress test' of the American banks reveal? :drama:

I say short it, fucking short everything lol

HOD is still the King.

Oil is down $0.75 right now, what does that mean? I hope it means -$2 premarket = $48 HOD! :dunno:

Anyone else notice the contango is starting to widen again?

[Unikkatil]

You guys think HOU will reach 4.8 tomorrow?

[max_boost]

^

If oil can rally and get to around $40.50, you'll see $4.80 HOU.

You are in tough though, it's not looking good right now.

For those of you trading the leveraged ETF's, I recommend a 6% hard stop to minimize your losses. YOU HAVE TO SET STOPS.

For equities, I use a 3% stop.

[Unikkatil]

^ It is not looking very well.

I think tomorrow will break the 4 dollar line at a low of 3.8 -3.9 and a high of 4.6...maybe close at around 4.1 ?

I really hope im wrong :(.

[bigbadboss101]

urgh, I sold HOD early today.

[max_boost]

^

Can always buy back in. If oil makes a rally, it's your chance to get back in. Remember guys, oil is under immense pressure. If Wednesday's inventory count reveals another massive surplus, it'll just prove that last week's 138K reduction meant absolutely nothing. For now, trend line has been broken, next stop is $36 oil. That's another easy 10% for you to pocket on HOD. Oil is looking around for a reason to rally and its not finding any, so what does it do? Fall further.

I hope I'm right. There will be a lot of resistance but $60 HOD here we come.

I just want to re-iterate the importance of a stop loss for HOU/HOD traders with 1 position. Set a stop loss at 6%. There will be times when your stop gets hit and it pulls a reversal. There is nothing we can do about that. It's frustrating when that happens but that part of the game is beyond our control. However, not setting a stop only exposes you to a possibility of a downward spiral with no end in sight which is a lot worst. I'm sure you HOU holders will agree with me on this one.

If you have multiple positions and believe in your convictions, you are more than welcome to average down with and hope for a rally so you can break even. It's your only choice when playing a 2X ETF.

With that said, there is no shame in taking a loss. I'm far use to it. It's too bad I take the loss long after I should have though. That was the old max_boost though, I like to think I am a better trader now lol There will always be an opportunity to profit so don't be discourage.

Borrowing a line from some site I can't remember, commitment, discipline, confidence. Stick to the rules or it'll stick it to you!

Good luck trading tomorrow. :thumbsup:

[civic_rida]

Hou = 6 dollars at open :eek:

[Z_Fan]

Keep dreaming. LOL. $38.18 right now. -0.26.

[civic_rida]

dammit lol

[SilverRex]

Tuesday

oil is really moving on its own, its not falling (like it should) when the market takes a dive and its not rallying like it should when market builds.

at least that means oil is closer to the bottom than we are at the top.

yes having broken under the 200 day is bearish but over night oil held up and now testing 39 once again, if it continues to hold above 38.3 clearly its an indication that the 200 day is holding again, and it will be more bullish if it can keep its head above 39 because thats the trendline that it broke yesterday a reclose above 39 will only add fuel to the rally. (translation, if oil doesnt stay above 39.1 for long then its still bearish)


gold will remain bullish until it can stay below 981 for a target to 965, for all I know gold could be looking for a final top either double top at 1006 or somewhere in the 1022 area


now I was suggesting that based on the lower trendline DOW is probablly looking for a short term bottom and I believe it to be somewhere in the 6800-7000 area, just so happens an article comfirmed my believes as there is a hidden support at 6883 wow what a coincident. could this be the level that the market wants to hit before seeing a decent rally? I think so and it could all happen this morning or this week then the mini rally begins when we step into march which just so happens again is a strong month for the market last year and it is also weak for gold. another coincident?

look for oil to rally when the entire market jumps after hitting below 7000,

now the scary thing is I was told if the 6883 support fails to hold, the next level target is at 4670 that will be huge. but for now I think the market is close to bottoming out for the time being. so this will present shorting opportunity once prices move back to the upper resistance (dow in the low 8000) and oil at 43-44?

[bigbadboss101]

Once again, HOD is making people $.

You guys suggest I should average down on HGU?

[SilverRex]

^

no wait longer because hui finally broke its 310 support and should be on its way to 289 so HGU should at least head to 11.50

of course ive been waiting for this swoon for so long 11.50 is the earilest I can open a position on HGU then every 2 dollar drop I will double up

edit: well correction while 11.50 is a very good entry for HGU compare to 16 last week, right now HGU has already dropped back to 12.99 and that is gold just dipping to 970, if gold was to dip to 930 and 900, you can only wonder if the 50 day moving average for hui will hold at 289 which means make sure you have funds on the side line in case it goes after its 38 and 50% retracement from its 327 peak to 150 low,. that would be 260 and 240 for the HUI index and HGU would be somewhere in the low 9s and low 7s

[DJ_NAV]

dang... bought hod it at 44... will avg. down if it hits below 41.

[SilverRex]

the only thing I worry is that technically even though the next major support for DOW lies at 6883, it can however bounce off 7100 and make it back to 8250 before turning lower again to get to 6800 in a few months.

therefore it is quite dangerous to short the market at these level, the better option is to anticipate the dip below 7000 and open a few short term position or wait until the market gets back to 8000 and short the market there.

But for gold bulls, either way the pull back was a matter of time, and now its time to start picking off the support levels starting with 930, 901 and 875, but keep in mind there is downside risk still to 800 and if we ever get there you know what that means

[bigbadboss101]

HGU might hit that $11.50 you mentioned in the next day or two at this pace.

[SilverRex]

^

edit: well correction while 11.50 is a very good entry for HGU compare to 16 last week, right now HGU has already dropped back to 12.99 and that is gold just dipping to 970, if gold was to dip to 930 and 900, you can only wonder if the 50 day moving average for hui will hold at 289 which means make sure you have funds on the side line in case it goes after its 38 and 50% and 62% retracement from its 327 peak to 150 low,. that would be 260 and 240 and 220 for the HUI index and HGU would be somewhere in the low 9s and low 7s and mid 5s

I cant say which of those number will be the bottom but anything above 11.50 is too expensive to get in anyways but if HGU was to hit the lower end into the 5s (I doubt it) then that is like the best entry of 2009

Now it will depend on how strong the gold sector is, in an ideal world it should fall to those levels I mention, but because gold is hard to predict in the short term I would say for all I know 11.50 could be the low point too,

So I recommend setting up multiple position starting with 11.50, 9.50 then 70.50 and double up each position


__________________

[DJ_NAV]

crash gold crash... i might finally break even if it hits 10.50... lol... i know i shouldn't keep these etfs for a long time, but i just did since it was a small amount of money.

[Generic]

my fantasy stocks aren't doing good, today isn't such a hot day though.
http://img27.imageshack.us/img27/2073/88618470.png

[e36bmw///]

nm

[DJ_NAV]

always get out of hou if you are thinking about it.

[SilverRex]

gold dropping like a brick to 959

that is like 46 dollars from peak

both gold and silver has dropped more than its usual correction which signals gold has topped out short term, is it any coincident its doing this when march is around the corner? gold dropped from 1022 to 900 in a matter of days in march 08, would it be any difference this time around?

also with gold dropping out, could this setup a rally for the dow? from 7100 to 8100?

im sure the market will rally at any moment, down side risk to 6883 with upper range at 8250

that also means oil isnt going anywhere and can easily resume its run back to 43 if the market picks up its momentum

and the longer oil stays above 38.30 the more likely it has bottomed short term

[max_boost]

HGU down 15%! :eek: It's about time. Just have to be more patient with this one. I'll also pick up some HBU if gold can get to the low $900's. I hope the seasonal trend remains.

Oil is trying to rally right now. Might try to pick up some HOD if it falls to around $40. All eyes on cushion tomorrow. Another inventory increase should drop the oil price. :drama:

In other news:


The Conference Board’s confidence index dropped more than anticipated to 25, the lowest level since data began in 1967, the New York-based research group said today. Another report showed home prices dropped a record 18.5 percent from December 2007.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8EjKZ8oQSq0&refer=home

[DJ_NAV]

no GS buyers here?

[civic_rida]

I dont see hod hittin 60 dollars:poosie:

[SilverRex]

well market is finally starting to move looks more and more like we are headed for a good recovery back to 8000, oil back to 43 and of course I still have my BAC at 4.00, will hold until 6.00

oh and and oil is now at 39.15, a break above 39.3 will cause more buying

edit: BAC at 4.64

one thing I failed to realize was, I thought when HUI came back to 290 (50 day moving average is at 289) HGU would be at 11.50 unfortunately the lowest we saw today was 11.90 so far, so I am going to revise my entry position to 12, 10, 8 instead of 11.50, 9.50 and 7.50

[max_boost]

^

SR: Way to spot/play the trend. You are the fucking man!:thumbsup:

What's triggering the market rally? Oversold conditions? I'm out of HOD for the time being, I sold when it was hovering around $43.50 earlier and wasn't moving. When gold dropped that much, I was worried about a pending market rally which would have killed HOD. Looks like it was the right call. Small gains is better than no gains lol

SR needs a new user title. 'Beyond Stock Market Oracle' or something along the lines lol

[SilverRex]

^

I failed to mention DOW did went into oversold RSI under 30 the last time it went oversold was when it first dip to 7700, so for the being, ovesold on DOW pretty much sums up what is happening here. If DOW closes at or above 7350 that would be another bear killer, a complete reversal from yesterday.

Now the remaining question is if the market can sustain the momentum and make a run back to wards its upper resistance.

[DJ_NAV]

time to rebuy hod! this time will have to use margin!

[sputnik]

Originally posted by SilverRex
well market is finally starting to move looks more and more like we are headed for a good recovery back to 8000, oil back to 43 and of course I still have my BAC at 4.00, will hold until 6.00

oh and and oil is now at 39.15, a break above 39.3 will cause more buying

Wait a minute.

I thought the experts here said that oil was going to be in the under $30/barrel mark soon.

[SilverRex]

^ I dont think I ever said oil is headed to under 30 now, although that could happen but based on how slow oil moves relative to the market, the low point was suppose to be 36 as of yesterday when price closed below its important 38.3, but things changed since, now that price remained above 38.30 signaling more oil strength coming and so I did warn that the real oil rally for this month could still be coming.

to clear things up longer term chart looks as though is to make a run at 30 or below but short term chart is headed for 43 and so if things play out the way it should its a great place to short oil when it reaches 43 however its taking longer than I thought to get there and so the price changes daily I would say 42.50-43.50 now would be the area to short oil

after that how you want to ride HOD to oil 35 or 30 or 27 is another story.

but keep in mind, oil continues to be in a buy low sell high mode and if 43 doesnt hold, then that would be another signal that the overall trend is about to change, but in order for that to happen, DOW will have to break the curse at around 8250 and break away back above 8500 in order to fuel the oil rallies. Of course if that happens DOW will most likely head straight for 10k.

anyways seeing how the market plays out is important, for example the market rallied strong today off the low around 7100, tihs COULD be the bounce we all have been waiting for, but since there is a even more important hidden support at just below 6900, the market could suddenly turn around and still head straight down. but downside risk is limited to just that in the short run is the way I See it.

current range for oil is 36-43 and DOW is 6900-8200

[civic_rida]

Im pretty sure i remember you guys saying get out of hou and buy hod cause we are going to 30 dollar oil.

I havent had internet all morning so its been rough

[DJ_NAV]

dontcha worry.... i can almost gurantee it that hod will go above 44 at some point this week.

[civic_rida]

I have my hou sell point set at 4.75

[SilverRex]

update.

so DOW got to 7350 and chart wise it looks like a perfect reversal if it closes at this level then there will be more momentum tomorrow

BAC at 4.70 now

[Generic]

BAC went up +0.78 (19.95%) so far today!!
i bought it with at 3.51 with 2000 shares and today its at 4.79 =)
you guys do the math ;)