Official Short-term Investments Thread

[Proyecto2000]

I wish I would have bought Friday, up $3.33 from open.

[max_boost]

BAC down 10% but C up is up 3%? lol :dunno: :nut:

As for HOD, we are still at the 50% retracement level so it's not too late to get in.

SR already said it, $45 might be the new ceiling. Can oil still bounce back? Of course it can, ANYTHING IS POSSIBLE so that's why you set aside a position in case it goes that route.

If you ask me, oil has broken down. $45 is the ceiling this time around and we are on our way towards $30.

We'll know by the end of the week.

[max_boost]

Originally posted by 997TT
HOD at $32.70 now .... So you like it here hey Max?

with a strategy of averaging down if need be

Where are you TT? Did you get in?

[DJ_NAV]

I have HGD from a few weeks ago.. avg. cost of $12.50... do you guys think I should hold and hope for it to hit 12.50? or just sell it off at around 10 and take the hit?

[Proyecto2000]

Max, do you figure that $35.00 is a good price to get in at? Im putting all my eggs in 1 basket as this would be my 2nd trade ever :bigpimp:

[max_boost]

DJ_NAV,

Depends how bad the market sell off affects the materials sector. Everything is tanking though so seriously consider holding it.

Is this wave #2 I've been talking about? The second coming? The death quarter? Is this it? :nut:

[max_boost]

Originally posted by Proyecto2000
Max, do you figure that $35.00 is a good price to get in at? Im putting all my eggs in 1 basket as this would be my 2nd trade ever :bigpimp: '

Oh god, all in 1 shot? It's up to you man. I always have a backup plan. I like $35 HOD.

Just to warn you, you've seen it too, the flucutations are crazy.

[Proyecto2000]

the good thing is that all my eggs in 1 basket is not awhole lot of money, im using little coin to gain some experiance.

[Z_Fan]

Wow. Oil just getting its ass kicked today.

I think that is the biggest single day loss I've seen in quite some time and it's very early still.

[max_boost]

The TSX is selling off hard. Holy shit.

Looks like I made the right choice with my $35 HOD order.

[e36bmw///]

nm

[dj_honda]

Originally posted by e36bmw///
could oil rebound with such a hard loss?

it did on friday

i think it will but maybe not until after opec on the 15th? who knows... hard to call.

[997TT]

gold is getting destroyed ... HGU back to $11.34

[e36bmw///]

nm

[bigbadboss101]

HGU getting near $11. Might be a good position at this price?

[liquid1010]

7650 is the magic number for the TSX.... if your looking for a rebound it'll need to pull back prior to that. If it drops below that..... it could get real ugly - Again.

[4DoorGTZ]

Originally posted by 4DoorGTZ
Finally looking decent for me on at least one trade... Bought HOD last week for $30.50.

First trade to make some money for me since last spring, setting stops within $0.50 to make sure I keep it this time.

[Proyecto2000]

I got HOD at $35.95, hopefully I can sell for a small profit later today.

Hey I got a question for you guys, what is the "setting stops" that I keep reading about? I'm a total noob, so I have some learning to do with all of these terms.

[e36bmw///]

nm

[997TT]

Originally posted by max_boost


Where are you TT? Did you get in?

No i didn't ... still shell shocked from the HOU a$$ kicking.

I did follow SR advice and buy some HGU last week which i sold this morning. Then bought HGD and sold it for a 0.75 gain ... only to watch it go to its current price of $9.97 (1.32 higher than i bought i for this morning). So far today up $2k in realized gains (i've decided to buy smaller amounts of shares as the HOU experience was a little over the top). I just need about 10 more of these mornings to break even...lol

Now, i don't know what to do ... in terms of HGU/HGD or HOU/HOD.

I'm kind of on the sidelines for now ...

[4DoorGTZ]

Proyecto:

For now for example, say you have Hod at $35.95 and it needs to be above $36.25 for you to break even (comissions). Its a sell order that triggers at a certain value. Right now if you set your stop at $36.25 you'd in theory not be able to loose. Hod is liquid enough that it will sell very close to that once the stop is tripped.

The actual way you set the stop could vary between services, with TD there are buy/sell but also sell on stop/buy on stop orders, where the price you put in the limit box is the price that triggered the order.

[997TT]

HGU $10.79 ... tempting

Any bulls buying?

[e36bmw///]

nm

[liquid1010]

Just strengthened my position on Gold. Also looking at getting into BAC, but options on that are just to expensive right now. Using unrealistic volatility numbers......

[liquid1010]

Just strengthened my position on Gold. Also looking at getting into BAC, but options on that are just to expensive right now. Using unrealistic volatility numbers......

[Proyecto2000]

Originally posted by 4DoorGTZ
Proyecto:

For now for example, say you have Hod at $35.95 and it needs to be above $36.25 for you to break even (comissions). Its a sell order that triggers at a certain value. Right now if you set your stop at $36.25 you'd in theory not be able to loose. Hod is liquid enough that it will sell very close to that once the stop is tripped.

The actual way you set the stop could vary between services, with TD there are buy/sell but also sell on stop/buy on stop orders, where the price you put in the limit box is the price that triggered the order.

Thanks for the info 4DoorGTZ

[997TT]

i guess instead of asking if anyone was buying I should've just bought...lol
HGU up to $11.32
would've been a decent flip in 20 minutes.

[max_boost]

HGU and HBU are long term plays for me. With that said, I'm waiting to see how deep this sell off gets before committing more. I have 1 position already at $12 HGU and $18 HBU so I'm in no hurry.

If you want to flip, flip HOU/HOD. Of course, I've been crying for you guys to buy HOD non stop and looks like only Proyecto2000 jumped in haha

I wouldn't be surprised if we saw $50 HOD by Friday. :thumbsup:

[e36bmw///]

nm

[4DoorGTZ]

Oil below $40..... only briefly

[max_boost]

HOD at $37.74
:poosie: :rofl:

[lasthuzzah]

Awww! I missed the Max - HOD train this time. Should've listened and bought last dip.

[max_boost]

Originally posted by e36bmw///
what do you think MB is HOD a good buy now still or what?

could it fall down a bit yet?

I called for $30 oil and $60 HOD, what do you think?

Can it fall back down? Of course it can, there are no guarantees.

With that said, market sold off pretty hard today. Is it warranted? Why not? Our economy is contracting.

In the US, Warren Buffet said the economy is in shambles. No one cares what I think when I said the same thing but when Buffet says it, you believe him right?

AIG posted the worst loss in corporate history.

HSBC just cut 8200 jobs and closed down their US lending departments.

American banks are down, what else is new? DJIA in the 6000, did I not say that too?

The new ceiling for oil is $45. $45 is the new $50 of the past 3 months. OPEC won't be cutting any production, expect a supply gut. Why? Because they NEED the revenue. All this posturing/threats/demand for $75 oil is useless when you have no buyers.

I've said it over and over, if you want to get into HOD, allocate 2-3 positions. If it falls, average down. If it goes up, average up. Oil had its run up, now its time for its run down---------->$30.

[hattonlynch]

question....you guys are all using ETFs...I am not too familiar with ETFs (mainly buy stocks) but I know they do trade as a stock. Using a discount brokerage account, do I have to pay any premiums if I buy an ETF or does it just basically trade as a stock?

[4DoorGTZ]

Trades like a stock, and depending what stock you compare it to, its more liquid. You're not limited to buy from other traders in the market. The ETF management holds a large amount and will fill orders from their basket. They use their basket to manipulate the bid/ask spreads to align with whatever they're tracking.

[hattonlynch]

damn...ive been telling people for a while DJIA is going down below 6 grand as it will revert back to the mean and probably overcorrect in the process.

this is fucking crazy.

[DJ_NAV]

I think $50 HOD is a little to high... wouldn't that break some sort of trendline?

[slick2404]

wow. my portfilio has taken a 42% hit today. :(

[e36bmw///]

nm

[KleanCord]

That is why I don't play around with the BetaPro ETFs.

HOU always setting new lows and HOD always setting new highs despite oil still trading within the same ranges as 3 months ago.

I read the explanations before but it is just not something I feel I know enough about to trade on.

[hattonlynch]

Originally posted by slick2404
wow. my portfilio has taken a 42% hit today. :(
lol, damn you motherfuckers take risks haha....

[max_boost]

Sept 2: $5.30
Sept 16: $7.33
Sept 23: $5.37

Oct 28: $13.25
Nov 4: $10.28

Nov 20: $20.50
Nov 28: $15.30

Dec 05: $25.00
Dec 15: $20.55

Dec 24: $31.36
Jan 06: $16.18

Jan 20: $29.75
Jan 26: $23.13

Feb 18: $47.19
Feb 27: $31.58

Mar 02: $37.20

http://www.members.shaw.ca/samtang310/big.chart.gif

In the past 3 months, oil has peaked at:

$50.05 Dec 15------>$43.60 close Dec 16
$50.57 Jan 06------>$42.63 close Jan 07
$48.59 Jan 26------>$41.58 close Jan 27
$45.22 Feb 26----->$40.40 ????

http://www.members.shaw.ca/samtang310/oil.gif


How is $50 HOD too high?

HOD keeps setting higher highs and higher lows.

At $33 oil we will see $50 HOD

[e36bmw///]

nm

[SilverRex]

im glad you guys got in HOD, oil is temporary bottom out because its right at the 200 day, the same 200 day that was holding oil since the roll over at 40.55 obviously the longer it trades below this the better chance it can see 36 oil.

also the DOW is at the point where it can suddenly rally I think key is to close above 6883, if you see the market rebound late in the day above that level then you know some thing fishy is going on, we could then see a bit of a rally for DOW

as for gold, gold is finding very good support at around 930, tested 3 times now. No one knows for sure if 930 will be the low but technically everyone is waiting for 875-900 area, and if it gets there that means HGU will be lower into the 9s, but if 930 holds, HGU will stand around low 11 and move up from here. Gold isnt going anywhere unless it can get back above 970 so target to 875 is still possible but I dont want to get left out so position in the low 11 is a good starting ground, anything above 11.50 I think is too expensive

[max_boost]

Originally posted by KleanCord
That is why I don't play around with the BetaPro ETFs.

HOU always setting new lows and HOD always setting new highs despite oil still trading within the same ranges as 3 months ago.

I read the explanations before but it is just not something I feel I know enough about to trade on.

Yep. If you want a non leveraged HOU, look at USO. But seeing how it continues to trend downwards, buy HOD!

[e36bmw///]

nm

[4DoorGTZ]

Rollover changes do nothing for HOU, you dont get the upside of the rollover. If this months hou was based on $40oil and after rollover its based on $42oil you dont see any gain from that $2, HOU sells the current month and buys the next month, that next month is already $2 higher. Its like 2 different equities, no different then if a mutual fund sells a $40 stock then buys a $42 stock, all you've done is increased your break even level. And in the case of HOU if its been trading in the $40 range then after rollover is based on $42 its more likely to fall as the oil price goes back to its recent $40 area.

Until things steeply start to increase thats how it seems to play out. Of course if the next month's price is lower (backwardation instead of contago) then the current contract the opposite of what I wrote above may play out.

[e36bmw///]

nm

[max_boost]

Except rollover won't be until the 7/8/9th business day of this month. By then, all the contracts could be under $40 lol

[liquid1010]

Man the TSX keeps tesing that 7650 barrier...... multiple times this morning :nut:

[max_boost]

Just like oil keeps testing $40 :D

[KleanCord]

Rex,

What specific is it about 6883 Dow? What level retrace is that?>

Wouldn't you expect Gold to break the 930 support in the event of a huge rally?

Max,

Something I find strange is Hou seems like throwing your money away. Even when oil goes up, energy stocks respond better than Hou. Then on the way down it is twice as bad. Seems like a 1 step forward 2 back.

HOD on the other hand just keeps going higher and higher. What could actually force HOD downwards. Do we need to see +$45 oil for an extended period for it to break it's lows?

[e36bmw///]

nm

[Proyecto2000]

Originally posted by max_boost
If you want to flip, flip HOU/HOD. Of course, I've been crying for you guys to buy HOD non stop and looks like only Proyecto2000 jumped in haha

I wouldn't be surprised if we saw $50 HOD by Friday. :thumbsup:


I figured what the heck, no risk no reward. However as soon as it hits $40 im outta HOD and I will wait and see what else I can buy :D

[e36bmw///]

nm

[max_boost]

Originally posted by KleanCord
Rex,

What specific is it about 6883 Dow? What level retrace is that?>

Wouldn't you expect Gold to break the 930 support in the event of a huge rally?

Max,

Something I find strange is Hou seems like throwing your money away. Even when oil goes up, energy stocks respond better than Hou. Then on the way down it is twice as bad. Seems like a 1 step forward 2 back.

HOD on the other hand just keeps going higher and higher. What could actually force HOD downwards. Do we need to see +$45 oil for an extended period for it to break it's lows?

1. HOU is throwing your money away.
2. If oil goes up, HOD will go down.
3. HOU/HOD are leveraged ETF's so they offer double the daily exposure. Oil down 9%, HOU down 18% & HOD up 18%.

Do you know how the rollover, contango, backwardation works yet?

Right now oil is basically tied to the US economy because they are the largest consumer. The theory is, if they are hurting, they won't be driving. I don't see that changing any time soon so you'll continue to see HOD go up and HOU go down. That's not to say oil won't rally because data has proven that oil will rally once every month and so far, it looks like that oil rally is over. It went from $35-$45 and that's it.

Check out my HOD/Oil chart. You'll see what I mean :D

[civic_rida]

I know bac sucks but its been pretty stable today.

[max_boost]

How is BAC stable? Because it's down 12% and not 25% like the day before? lol :dunno:

[e36bmw///]

nm

[cdnsir]

Originally posted by e36bmw///
lol i got in trouble from cibc, cause i refresh real time data too many times

they limit it to 3000 per day

LOL I wonder if TD has that. I musta refreshed every 5 sec for 1.5 hrs straight!

On that note, I took a major gamble and hope to catch a quick bounce off bbd.b. I know a global recession isn't great for selling planes so I won't hold it for long. But bbd is known to make quick bounces along the bottom, so I hope that holds true again.

[e36bmw///]

nm

[RX_EVOLV]

Originally posted by e36bmw///
lol i got in trouble from cibc, cause i refresh real time data too many times

they limit it to 3000 per day

haha I had that problem w/ BMO too, I must've smashed the refresh button hundreds and thousands of times on Friday, then it stopped working, and i coudln't connect to BMO. but i switched browser and it was working fine again ( on the new browser only)

[civic_rida]

bac rally :dunno:

[SilverRex]

Originally posted by KleanCord
Rex,

What specific is it about 6883 Dow? What level retrace is that?>

Wouldn't you expect Gold to break the 930 support in the event of a huge rally?

Max,

Something I find strange is Hou seems like throwing your money away. Even when oil goes up, energy stocks respond better than Hou. Then on the way down it is twice as bad. Seems like a 1 step forward 2 back.

HOD on the other hand just keeps going higher and higher. What could actually force HOD downwards. Do we need to see +$45 oil for an extended period for it to break it's lows?

I read that it is a hidden pivot, it will be interesting to see if it can close above or below it. and I do expect the market to rebound a bit at least to the 7200-7500 area since we are deeply oversold, but longer term we could see lower. Now with that said yes rally in the market will no doubt push gold lower, after all gold is in a correction and could hit as low as 825-850 but realistically I think 875 is th magic number.

same with gold stocks, I think gold stocks has to go lower before it can go higher.

HOU is only good if oil is on an uptrend and stays in an uptrend. otherwise it will always lose to HOD unless you time your entry perfectly to catch the rally in oil just like it did when it went from 38 to 45 and HOU went from 4 to nearly 6 dollars.

but caution everyone who short oil, it is getting closer and closer to the point then the trend could soon change. key area to watch is above 45 is a trigger for bulls. depending how bad the market is or how big the rally, 35-45 is really a no man's land. I rather buy if oil dips below 33 or above 45 just to be safe because at least I will have all the technical investor jump in along side with me.

for shorting, the best place was at 45, next at 50. How low it will go, that dpenends on your take profit stategy. But in this type of market, dont be too greedy, if your up 10-20% starting thinking exiting and wait for another opporunity

[davidI]

Originally posted by e36bmw///
what do you guys think about cnq rightnow?

last week i had a chance to get in at 37, but didnt and it went to 43

what about this week? stay away of get a small position?

I like CNQ at $36, TLM at $10, IMO at $30. Those are my entry points - I looking to exit at ~ $43, $12 & $38 respectively.

Have done this for a few months and made decent returns. 17% in 3 days on TLM last week (entered at $10.19, exited at $11.96).

[KleanCord]

Originally posted by max_boost


1. HOU is throwing your money away.
2. If oil goes up, HOD will go down.
3. HOU/HOD are leveraged ETF's so they offer double the daily exposure. Oil down 9%, HOU down 18% & HOD up 18%.

Do you know how the rollover, contango, backwardation works yet?

Right now oil is basically tied to the US economy because they are the largest consumer. The theory is, if they are hurting, they won't be driving. I don't see that changing any time soon so you'll continue to see HOD go up and HOU go down. That's not to say oil won't rally because data has proven that oil will rally once every month and so far, it looks like that oil rally is over. It went from $35-$45 and that's it.

Check out my HOD/Oil chart. You'll see what I mean :D

What I am talking about is how HOD shows gains despite oil being at the same levels it was previously. I somewhat understand how contango and the rollover effect HOU but I have no idea how HOD can consistently show gains when oil has been through the $40 region numerous time before, even 3 days ago.

[e36bmw///]

nm

[ckangarloo]

Originally posted by e36bmw///
so what do you think SR, keep HOD over night and hopefully sell at $40 tomorrow?

or sell, and take a 1.5% gain hahaah and get back in tomorrow?

Technically speaking, Rich Olney called for the oil bulls to win today.

See here:
http://crudeoiltradingsmallspecs.blogspot.com/2009/03/weekend-crude-oil-summary-3109-oil.html

That didn't happen and it was the first time in the two months I've been following his blog that he was wrong.

Honestly, Sam's analysis is so much easier for me to follow (and today was the first time I can remember when he was right!). I think this is a case of not seeing the forest through the trees.

[e36bmw///]

nm

[ckangarloo]

^ I think it is Max Boost. Could be wrong

[max_boost]

Originally posted by KleanCord


What I am talking about is how HOD shows gains despite oil being at the same levels it was previously. I somewhat understand how contango and the rollover effect HOU but I have no idea how HOD can consistently show gains when oil has been through the $40 region numerous time before, even 3 days ago.

If you have time, search through my old posts. I've explained it thoroughly a few times.

In short, the contango hurts bullish oil. After the rollover, oil price falls consistently more than it rises.

Or I'll explain it again if I find time to type it all up.


Originally posted by e36bmw///
so what do you think SR, keep HOD over night and hopefully sell at $40 tomorrow?

or sell, and take a 1.5% gain hahaah and get back in tomorrow?

SR already stated his position. HOD at $45 oil or HOU at $33 oil.

I'm holding mine and selling at $50 HOD :)


Originally posted by ckangarloo


Technically speaking, Rich Olney called for the oil bulls to win today.

See here:
http://crudeoiltradingsmallspecs.blogspot.com/2009/03/weekend-crude-oil-summary-3109-oil.html

That didn't happen and it was the first time in the two months I've been following his blog that he was wrong.

Honestly, Sam's analysis is so much easier for me to follow (and today was the first time I can remember when he was right!). I think this is a case of not seeing the forest through the trees.

Oh come on, I've been right more than once.
:rofl:

What about me calling for $30 oil. Destruction of the markets. Continue collapse of the US financial system etc. hahaha

[max_boost]

Originally posted by e36bmw///
who is sam?



Originally posted by ckangarloo
^ I think it is Max Boost. Could be wrong

Yeah that would be me. I'm a complete n00b so I have to caution you if you want to take my advice. I just tell it how I see it. I put my money where my mouth is.

[e36bmw///]

nm

[max_boost]

What will happen tomorrow is anyone's guess. There's a strong possibility that investors realize the market is oversold and you'll see a rally tomorrow aka dead cat bounce (one of my favorite lines haha)

If that happens, oil may or may not follow it. My rationale for holding onto HOD is simple, when it goes up, it goes up for a few days, when it goes down, it goes down for a few days. HOD did it's monthly 25-40% average pullback and now it's time to skyrocket again. Check out my HOD/Oil chart :D

So, what's the hurry to sell? lol

But yeah, I know how the game works. If I'm right, so be it. If I'm wrong, cue the appearance of the haters. :rofl:

[SilverRex]

http://i278.photobucket.com/albums/kk118/genmaster/gold2.jpg


clearly gold is in a mega phone downward, so 875-900 is in the works however notice the two trendlines, when gold price breaks above those line thats when gold will resume its uptrend

however this mega phone generally is bullish in a uptrend market, therefore gold is in a corrective state. look for gold to find a bottom then follow by a breakout of the 1st down trendline out of the megaphone pattern into a larger one, then the final break of the last down trend line to confirm the completion of this correction.

[Sky]

^ Very nice. Buy low then buy lower......excellent.

[max_boost]

So I just read up on Rich Olney's site, the dude gets my respect no doubt. Really smart guy.

It's crazy because on Friday, he said the crude rally was over!

http://crudeoiltradingsmallspecs.blogspot.com/2009/02/market-outlook-22709-crude-oil-rally-is.html

I don't follow the USO and how they rollover their contracts. But it must have been convincing enough for him to completely change his position two days later.

Oh well, agree to disagree. I've already stated that I'm an amateur just telling it like how I see it. I don't have the technical knowledge to back up my calls. The best I can do is post up my HOD/Oil graph for you guys to see. :rofl:

Anyway, I believe the gasoline inventories were down because of the number of refineries under going maintenance and some are just outright shut down due to the lack of demand.

As for OPEC, I believe there will be no cut announced. Simply because they have to realize that demand destruction wins and they can't stabilize the price. Nations NEED the revenue because it's their only source.

Iraq (not part of OPEC) plans to boost production
http://uk.reuters.com/article/oilRpt/idUKL119645120090301

Iran says OPEC has no plans to cut production
http://www.ynetnews.com/articles/0,7340,L-3679062,00.html

A lot of the threats to cut production, like I said previously, is just rhetoric and part posturing. It's impossible to get 100% compliance. I firmly believe OPEC nations have already adjusted their budgets to $40 oil and not $75 oil. You can't demand a price when there are no buyers.

[ckangarloo]

^Sam, I'm with you; believe me. I'm simply just trying to absorb as much information as possible. I too found it interesting how quickly Rick Olney changed his position based upon tech analysis.
I'm as much as a noob at trading as the next guy (sitting on $39 HOD, hoping for 50).

[Dren]

hey...wanted to know if anyone had any advice..on the best way to start buying / selling stocks ?
i saw many sites like etrade and that..but wanted to know what everyone uses?
thanks

[e36bmw///]

nm

[e36bmw///]

nm

[Proyecto2000]

Originally posted by Dren
hey...wanted to know if anyone had any advice..on the best way to start buying / selling stocks ?
i saw many sites like etrade and that..but wanted to know what everyone uses?
thanks

check out credential direct. comission is $19 per trade, free transfers from your bank account to your credential direct account and vice-versa. FREE level 2 service. Appreantly it has won best online broker a few years in a row.

[max_boost]

Originally posted by e36bmw///
im so excited!

$35 oil tomorrow will put hod at $47

$30 by wed will put hod at $60

we can all dream

lol

Easy there young grasshopper. It might not happen that quick. There might be some sideways action before spiking again so I hope you can stomach the fluctuations.

I think there are only 4 or 5 of us holding HOD.

Anyway, if Wednesday's inventory report shows a massive surplus, watch out! ;)

[Inzane]

Originally posted by max_boost
I think there are only 4 or 5 of us holding HOD.


I sold mine today at 37.55. (bought at 30.50 last week) I decided to take some profit.

[e36bmw///]

nm

[Proyecto2000]

Originally posted by max_boost



I think there are only 4 or 5 of us holding HOD.

Anyway, if Wednesday's inventory report shows a massive surplus, watch out! ;)

I plan on selling tomorrow to buy either Encana or CNRL, what ever has the better "sale" price.

[SilverRex]

Tuesday

ok so DOW closed below an important hidden pivot 6883, what does that mean? bearish but not to say it can suddenly put in a dead cat bouce since being oversold lately. So I wont be surprise the market could rebound today if not for a few days.

and with that oil rallies as well, sure it was under its 200 day EMA but now its back above and approaching 41.60 fast, if oil gets above this then short term it will at least move side ways. oil rally will only be a threat if it gets back above 43, so look for areas like 41.60 and 42.70 to reject oil price.

one thing though, while oil is back to a down trend pattern, it is expecially important that if oil gets back above 45 this will be very bullish, especially if it gets there now before hitting 30 because this would suggest a parital decline with a overall trendline breakout that could be a massive signal for bulls.

Lets hope thats not the case because like everyone I dont mind 30 dollar oil either.

as for gold, if you saw the chart I posted yesterday, clearly gold is in a funk or corrective state, short term support is around 930 area which is weakening, and next level is 901 and 875. The bullish downward megaphone is a case for excit ment. Now the world is waiting for the stock market to bottom and put in a multi month rally. If one is to compare to 1929-1930 then again but before that happens, I think the market will see a much lower low but it could come very fast meaning, after a head fake rally, the overall market will begin a steep sell off (I Think) it could land anywhere between 4670-6000 and S&P as low as 600, that is when gold will climb above 1006 and onto 1200 very quickly. But once it does, gold will quickly drop and thats when the stock market begins a multi month rally. Thats how I see it.

at current market conditions 40 dollar oil is the bottom, but once the market starts teering off to the low side, oil will be oversold and quite possibly hitting under 30 but the time under 30 will be short because no doubt from all I have read and understood, there are alot of money on the side lines (aka cash) just waiting for the perfect moment to load up on oil as a long term investment. oil could dip as low as 20? 25? 27? no one knows. but I think the magic number is 27 and it will only happen once. This is how I See it technically it will play out if oil doesnt suddenly surprise me above 45.

;)

[civic_rida]

41.86

[e36bmw///]

nm

[e36bmw///]

nm

[4DoorGTZ]

:clap:

[e36bmw///]

nm

[997TT]

In HGD at $10.30
wanted to buy earlier as i just kept watching it go up...

Man i should've just kept my shares from yesterday instead of selling them at $9.50

[Proyecto2000]

aww man, i was ready to dump HOD as soon as market opened and buy CNRL and now I cant, all of yesterdays profits are gone and CNRL is up $1 :rofl:

[997TT]

stopped out at $9.95... lol
oh well.

[civic_rida]

how low can gold go.

[bigbadboss101]

I don't know but HGU was as low as 10.29 today and now it's at 11.08 while gold price is down. HBU is down 2.39%.

[SilverRex]

watch out, there should be big reaction at 901 gold price its a moving average, also dont automatically assuming HGU will just keep going lower when gold drops, it will come to a point where HGU will out perform gold meaning, HGU will find the bottom first before gold does, just like when gold was hitting new highs a few weeks ago, HGU was already topping out and unable to shoot higher the reverse happens when gold shares finds a bottom and refuses to head lower, then gold will most likely follow.

the 10.29 bounce on HGU is probablly a reflection of the HUI index hitting its 1st major support 260, it is the 1st of 3 fib retracement. next is 240 and 220. A health correction always points to one of those 3 supports to hold and trend reverses.

My ideal entry is to see hui at least hitting 240 (50% retracement) and HGU in the 8-9s.

and gold looks strong to test 901 at the least

[997TT]

SR, a big reaction as in gold will bounce back or continue to fall?

trading at $906 right now

[ExtraSlow]

This exchange rate is giving me a good chance to get out of many of my US$ equities and back into some great canadian ones.
I'm getting back into CMH. I rode it from 0.61 to 0.74 a while ago, and I've got my limit order set at 0.60 for today.
Solid company, good geographic diversification and a "green" company as well.
Also liking SPB (formerly SPF.UN) for the stability of distributions due to the deal they struck with Ballard.
AET.UN, PGF.UN, CPG.UN all look good.
I'm resisting the urge to buy back into HOU until after the coming rollover at least. I still belive that contango will hurt HOU for the next year or so.