Official Short-term Investments Thread

[cosmok]

Originally posted by Z_Fan
I was going to buy HOU this morning, but now I think I won't. Hahahah. Missed that boat.
Saw it at $5.88 this morning and thought it would be a good buy, :nut:

[e36bmw///]

nm

[Z_Fan]

Well it opened at $6.66 or so IIRC. There was no opportunity to buy today. The bitch of it was I was trying to sell stuff off yesterday - which I did. But then had to go out and didn't get back before market close or I would have bought 1000 shares anyhow. Not a lot, but still, would have made an easy $800+ on that small purchase.

Rex WTF is with Gold then?

[Dinan]

it was never at 5.88 .......... yeah i only had 1000shares, but still better then nothing!


so i see oil is dropping now, will see how low it will go...

[e36bmw///]

nm

[Dinan]

Originally posted by e36bmw///
yea oil is dropping,

but was already only up $3 this morning, from $3.70, then back to 3.70
now at 3.40...hmm
im hoping for 2.50

yeah and it got up to 4$ too.. when HOU hit 6.95 ......

[davidI]

Damn, missed the HOU boat haha. Nice work to those of you who held.

[e36bmw///]

nm

[in*10*se]

aight.

anyone want to gamble?

high high high risk... high high high rewards.

dndn.

coles notes.
provenge is a drug that needs to be approved by the FDA
this company is riding on ONLY this drug, no other drugs in the works.
results were released/leaked that:
On Oct. 6, Dendreon (nasdaq: DNDN - news - people ) put out a press release that sent its shares up 33% in a day. Provenge appeared to cut patients' death rates by 20% compared with a placebo treatment, the company said. The release also contained statistical details that made good results seem likely when final results are released in April.

http://en.wikipedia.org/wiki/Sipuleucel-T

i figure if anyone has the balls, and wants to swing for a home run... this is the stock to do it.

it will run probably easily 400% or drop to 0.

the choice is yours, april is when they release their results... bum bum bummmmmmmm

tsfa... i got my fingers crossed.

[e36bmw///]

nm

[BigShow]

Anyone buying GM?

[cosmok]

Originally posted by Dinan
it was never at 5.88 .......... yeah i only had 1000shares, but still better then nothing!


so i see oil is dropping now, will see how low it will go...
That was pre-market price, meant yesterday.

[djayz]

:banghead: Am I ever pissed! Sold MFC 3 minutes before CIBC announced it's out perform rating, and didn't sell out of HGU which is getting slaughtered today wtf!

Haha man what a horrible trading session yesterday for me.

Anyone picking up HGU in low 13s?

[mac_82]

Originally posted by BigShow
Anyone buying GM?

I got in some Ford a while back.

[Dinan]

this was a good day for HSE too,,, i'm out....watch it go to 30$ now lol.... no more buying today...... lets see if SU can go over 31 today , mostlikely NOT.. but i'll place a sell/...

[Z_Fan]

Originally posted by djayz

Anyone picking up HGU in low 13s?

I bought 500 shares today.

[max_boost]

haha what a day. I knew I would get slaughtered soon or later.

Stopped out of HOU and couldn't buy back in and BAM, oil up huge today.

Didn't sell HGU and bye bye to my 13% profit instead selling for a cheesy small small gain.

Well, at least I'm finally up on my HSE and AGU so that's alright.

How long can the momentum last?

[max_boost]

I might try to wait for $10-12 HGU again......:dunno:

As for HOU/HOD, I'll stay away, for today. :rofl:

[djayz]

Originally posted by max_boost
I might try to wait for $10-12 HGU again......:dunno:

As for HOU/HOD, I'll stay away, for today. :rofl:

Yah I think 10-12 hgu will come again but theres alot of upwards momentum in the markets so we might see a pop in gold again just before the entire market turns down again.
I'm aiming for a chunk at 13.00 if it fills it fills, if not I'll wait it out until we get into the 11's and 12's. Still have the position at 13.90 which I missed selling by 1 cent yesterday :(

[SilverRex]

gold double hammer at 900 area, that should hold imo, that should make hgu slowly move higher

[e36bmw///]

nm

[DJ_NAV]

i would oil is more bull then bear now.

[SilverRex]

1 hour chart looks like oil is topping out, i sold at 52 oil going to wait for a pull back (unless oil breaks 52.50 then it could shoot up some more) as for DOW it got to 8075, wow so close to the important 8087 resistance. I dont think it will break thru that just yet especially the payroll comes out tomorrow and G20 meeting still in progress.

i'll turn bull on the market if it can sustain above 8075 for a few days..

[KleanCord]

Originally posted by Dinan
this was a good day for HSE too,,, i'm out....watch it go to 30$ now lol.... no more buying today...... lets see if SU can go over 31 today , mostlikely NOT.. but i'll place a sell/...

Dinan,

All that patience just to sell off after it broke out. This is where you were supposed to hold.

Look at the volume today.

[hattonlynch]

...wow looks like we have a huge bull market on our hands. what the fuck. This further reminds me why I don't day trade. Market is wayyyyy too irrational.

[SJW]

Short term OPC on tsx

potential buyout.

[revelations]

Originally posted by hattonlynch
...wow looks like we have a huge bull market on our hands. what the fuck. This further reminds me why I don't day trade. Market is wayyyyy too irrational.

Is this news to you? :nut:

[BigMass]

Originally posted by hattonlynch
...wow looks like we have a huge bull market on our hands. what the fuck. This further reminds me why I don't day trade. Market is wayyyyy too irrational.

These are HUGE rallies that occured during the great depression. From %50 rallies. I bet during every one of these rallies people were talking about how everything is fine now and the crisis is over and the bull market is here... How wrong they were.

The first big rally of %50 lasted 6 months!

http://i646.photobucket.com/albums/uu188/tonyg11/depression.jpg

[Dinan]

Originally posted by KleanCord


Dinan,

All that patience just to sell off after it broke out. This is where you were supposed to hold.

Look at the volume today.

yeah i know.... lol so you think it will shoot up to 30-31, now?? maybe if there is a pull back or i can just buy in again, and go for the right up :)

but isn't this the first time it closed at 28+??? it only takes one close to shoot up???:S i take it you still holding?

will see, tomorrow is another day.... its been doing this for the past few weeks, going down to 26 and up to 27-28.... will see...

[.civictyper.]

Markets are not efficient
Markers are irrational
Stop day trading and get yourself into a WELL diversified portfolio, mitigate your risk and sit tight.
Let the economy come out of the recession and you will make a good buck.
Trying to find trends and selling off at the peak of the rallies and buying at the bottom is a almost impossible task right now.
The market volatility has seen ranges greater then 3 or 4 standard deviations lately... Doesn't that mean anything to you

[997TT]

RIM up 21% in afterhours trading.

Been on a good run this past week.

[KleanCord]

I got into RIMM a few days ago at $54.05. I thought they would beat expectations on a hunch, but either way I thought I was getting a good price on an unfairly discounted company.

The after hours earnings report was almost euphoric, but I would be lying if I thought it was going to be that good.

.90c a share vs .83
and a guidance of .88-.97 for next quarter vs .82

[KleanCord]

Originally posted by Dinan


yeah i know.... lol so you think it will shoot up to 30-31, now?? maybe if there is a pull back or i can just buy in again, and go for the right up :)

but isn't this the first time it closed at 28+??? it only takes one close to shoot up???:S i take it you still holding?

will see, tomorrow is another day.... its been doing this for the past few weeks, going down to 26 and up to 27-28.... will see...

It all depends on what the market does tomorrow. But put it this way. Once a stock breaks out it struggles to go back because people paid the breakout price for it.

Today it broke $28 (FINALLY!) on large volume. If the markets take a breather, Husky probably will follow suit. But now instead of hitting $28 and selling off, it should hit $28 and accumulate until it gains traction to $30.

I happened with Suncor and if it wasn't for the merger Suncor would be closer to $38 right now.

Taking profits is never a bad idea, so don't beat yourself up on it.

[max_boost]

FML as usual. I was staring at RIM but because they didn't meet expectations last time I was weary! Argh.....lol :banghead: :rofl:

[KleanCord]

Originally posted by max_boost
FML as usual. I was staring at RIM but because they didn't meet expectations last time I was weary! Argh.....lol :banghead: :rofl:

Yeah they aren't the best company for beating expectations.

I just looked at it more long term this time.

-They said they would score on the low end of their guidance of .82-.91 (note that they did not cut their guidance) and the stock lost $30.
-The guidance issued was still a ~+25% increase over last years Q4.

There was just a lot of negative sentiment, and I think it is mostly because the iPhone is better than the Storm. Not necessarily the best reason to punish a stock.

They still are growing market share in one of the only growth sectors in our economy.

[Dinan]

Originally posted by KleanCord


Yeah they aren't the best company for beating expectations.

I just looked at it more long term this time.

-They said they would score on the low end of their guidance of .82-.91 (note that they did not cut their guidance) and the stock lost $30.
-The guidance issued was still a ~+25% increase over last years Q4.

There was just a lot of negative sentiment, and I think it is mostly because the iPhone is better than the Storm. Not necessarily the best reason to punish a stock.

They still are growing market share in one of the only growth sectors in our economy.


wow you scored big, 6$ ehhh... good stuff.... hope you bought lots..... yeah i was looking into them too, but didn't buy, the stock is too high,,,, but i love my BOLD.... very nice......


off topic, how does the capital gain from stocks gets taxed???

[bwling]

Originally posted by Dinan

off topic, how does the capital gain from stocks gets taxed???

capital gain x 50% x your marginal tax rate

[Dinan]

Originally posted by bwling


capital gain x 50% x your marginal tax rate


:nut: :eek: why so MUCH :nut: :eek:

[sputnik]

Originally posted by Dinan



:nut: :eek: why so MUCH :nut: :eek:

He forgot some brackets.

Capital Gain * (Marginal Tax Rate * 50%)

[SilverRex]

let see chart wise not much change as for as trend goes for both oil and goal so not going to post.

oil gone up way too fast and such got to 54 and its selling down back to 51.5 (current) i will be looking for at least a retest at 50 or below to get back in. I'll say support should be found between 48-50 as a good starting point. However knowing the roll over for HOU starts next week that could instantly put another 2 dollars on the price, I might wait a little longer or start using next's month price to gauge oil's direction other wise it wont make much sense of you buy oil at 50 but roll over it became 52, your upside will belimited if you know what I mean. So depending of how soon it gets to 50 or 48, its better to wait

as for gold, its testing the 900 mark many times now, and its putting in alot of support when it dips below 900 briefly, even if we shall see much lower gold, I'll say it has to go up before it comes back down. but first gold has to climb above 908 first

the hui index manage to close above the previous peak many weeks back of 327.80 so that should provide a base for now for it but if it closes below that then it does open the risk back to 300 which is about a 6-7% drop that will translate to about 12-15% drop on the hgu so let see what happens

over allgold is at a critical junture but anylevel below 900 is hard to predict as you do spark alot of buying and those who have been waiting for 850-875 gold are all money waiting to jump in.

I think the IMF to sell gold news in the G20 meeting is overblown as article suggest those gold will never hit the free market to hurt the price, its more of sell on news.

I continue to favor gold that once it find its footing we will see a retest of 930, follow by 945. the daily downtrend is coming down from 1006, 967 and now its at 940, I suspect at this rate that trendline will soon be at 930 which means, if gold was to get back above 930, that would be the signal to go long (for safer play)

as risk takers, any level below 930 means accumlation.

good luck

[Dinan]

i'm tempted to buy back into HSE,,, :confused: it got back down to as low as 27.99, but didn't hve time to place an order,,,,

[e36bmw///]

nm

[Dinan]

Originally posted by e36bmw///
i want to get back into hou at 6.40 hopeflly :)

oh man, i dunno about that... could be bit high..... no.. ?


SR is sayin wait for atleast 50oil to get in, :D

i think i'll wait it out today and not rush like befor and see what happens...... i only got few shares left in suncor that the dumass me bought at 31.65 just when they said they were buyin PCA... :banghead: lol

[e36bmw///]

nm

[Dinan]

Originally posted by e36bmw///
lol but even at $50 oil, isnt hou gonna be only at like 6.20?

20cents is alot,, lol.... if it goes down even more, then you have a better average.. thats 20cent from your profit, but then again, if it doesn't get that low, and you buy at 6.40 and it goes up, thats good,,, :nut:

[e36bmw///]

nm

[bigbadboss101]

Who is buying HGU, or other gold ETFs?

[djayz]

Originally posted by bigbadboss101
Who is buying HGU, or other gold ETFs?

Just picked up a large chunk at 12.30 of HGU

[SilverRex]

^

I bought some at 12.27 too :) with limited down side risk to about low 11s because of the hui index potentially can test 300. but im trusting the hui/gold ratio which broke out a few days back going from 0.30s to 0.37, and its back at 0.35 which is the 200 day.

I expect gold to perform better next week.

[Dinan]

^ i bought some too. i'll get some more if it drop to mid 11's ..... my first time buying HGU, lets see how it goes.

[max_boost]

In SR we trust. Back into HGU!! lol

[natejj]

Anyone thinking of playing Air Canada, we all know the government will not let them go bankrupt.

... or will they this time?

[997TT]

I had my HGU order fill at $13.50 yesterday :banghead:

Man i really hate "averaging down"

Been dipping in and out of ECA/CNQ for quite $500-$1000 gains.

But HGU is really hurting me ... down almost $3K since late yesterday afternoon. lol

[DJ_NAV]

I have some old ass HGD valued at avg. of $10. Should I sell now?? I'm thinking of switching over to HGU. I know I should have sold it long time ago, but I didn't access to a PC for about 7 days.

[Dinan]

Originally posted by 997TT
I had my HGU order fill at $13.50 yesterday :banghead:

Man i really hate "averaging down"

Been dipping in and out of ECA/CNQ for quite $500-$1000 gains.

But HGU is really hurting me ... down almost $3K since late yesterday afternoon. lol

oh wow,,, you guys buy lots of share...... i only bought 1000 @12.17

maybe i should have bought more...... :confused:

[in*10*se]

Originally posted by in*10*se
aight.

anyone want to gamble?

high high high risk... high high high rewards.

dndn.

coles notes.
provenge is a drug that needs to be approved by the FDA
this company is riding on ONLY this drug, no other drugs in the works.
results were released/leaked that:
On Oct. 6, Dendreon (nasdaq: DNDN - news - people ) put out a press release that sent its shares up 33% in a day. Provenge appeared to cut patients' death rates by 20% compared with a placebo treatment, the company said. The release also contained statistical details that made good results seem likely when final results are released in April.

http://en.wikipedia.org/wiki/Sipuleucel-T

i figure if anyone has the balls, and wants to swing for a home run... this is the stock to do it.

it will run probably easily 400% or drop to 0.

the choice is yours, april is when they release their results... bum bum bummmmmmmm

tsfa... i got my fingers crossed.


well... DNDN


i am full of win.:clap: :clap:

[djayz]

Originally posted by in*10*se



well... DNDN


i am full of win.:clap: :clap:

DNDN as in a 12% gain?
Do you still see the 400% gains coming because usually if results are good stocks fly, not up 12% :rofl:

Great if you made money but way too risky to hang on to and wait for that 400%.

[Dinan]

^^^^ up to 40%, nice....


well it was, at one point... not 400% but very nice gains!


would you buy now ?? hehehe

[bwling]

Originally posted by Dinan

:nut: :eek: why so MUCH :nut: :eek:


Originally posted by sputnik

He forgot some brackets.

Capital Gain * (Marginal Tax Rate * 50%)

you get to the same answer with or without the brackets...

[djayz]

Originally posted by Dinan
^^^^ up to 40%, nice....


well it was, at one point... not 400% but very nice gains!


would you buy now ?? hehehe

Did you sell out at 6?
And no still wouldn't buy haha, pharmaceuticals are crazy. I remember the globeinvestor contest that went on last year some guy had one company and he was up 1000% in the first week of the competition. A week later someone else was up 2500% and that first guy was at a -300% haha.

[Canmorite]

Originally posted by in*10*se



well... DNDN


i am full of win.:clap: :clap:

http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=DNDN&selected=DNDN

Still roughly 5 days worth of shorts to cover. Could be less by now, but I bet a lot are getting squeezed. After DNDN made that HUGE run up in 2007 the short interest was almost 70% I think :rofl:

[Dinan]

Originally posted by e36bmw///
thats the plan :)

damn, 20cents off what you wanted to get into, and now it's 50cents plus..... :nut:

did you get in?

[Dinan]

Originally posted by djayz


Did you sell out at 6?
And no still wouldn't buy haha, pharmaceuticals are crazy. I remember the globeinvestor contest that went on last year some guy had one company and he was up 1000% in the first week of the competition. A week later someone else was up 2500% and that first guy was at a -300% haha.

nah, i never got into it.



wow, HGU is dropping.... who's buying in more?

[DJ_NAV]

^tempted!

[in*10*se]

http://www.xconomy.com/seattle/2009/04/03/dendreon-saga-heads-toward-climax-as-cancer-drug-aims-to-prove-it-prolongs-lives/

like i said. market is anticipating something good.

for all i know, dndn shit the bed.

my fingers are crossed.

this literally is a crap shoot.

today is just rumors.

i just want news that their ONLY drug was successful...

this is a buy and hold for like the mad run.... today is just all speculators...

i want to rephrase... until dndn actually releases postive results... i'm full of hope.... not of win... wish me luck.

i like watching this thread though... but this thread should be called the beta horizons thread... seriously... i don't think you ever read much other than hgu,hou,hod or some other version of bull/bear etf's... :)

[Rat Fink]

.

[Dinan]

^ i'll wait till/if it gets back down to 11.80 at least..

when you guys say a bit or a large chunck, how much do you get,,, hehehehe




i see HSE is jumping on and off 28$, has very little volume, lets see what happens, i dont know if it can shoot up to 30, anytime soon....

[max_boost]

DNDN, simple enough. It's either all or nothing. If the results aren't there I don't think you can set a stop fast enough before the shares crumble hahaha

I'll think about this one and see if I can find the gamble in me. I think I gambled enough with HOU/HOD and got burned enough that it's out of my system hahaha

[Rat Fink]

.

[bigbadboss101]

FAS is an interesting ride.

Averaged down a couple times and now I have lot of HGU gold. You guys play other gold ETFs and how do they differ?

[Dinan]

Originally posted by Rat Fink


Only 210 shares bought for me. I'm not playing with any more money than that when I can't even guarantee I can get on the internet for a week.

yeah, but you can always set your limist if you can't get one...



well i got in at 11.78 again :nut:

[Z_Fan]

I was gonna sell my HGU this morning at 12.82. Left, came back and checked and it is at 11.82. Fuck me.

Glad I didn't throw 30000.00 in to this one!

But still, I'm down over $1k and I bought yesterday! :dunno:

[djayz]

Originally posted by Z_Fan
I was gonna sell my HGU this morning at 12.82. Left, came back and checked and it is at 11.82. Fuck me.

Glad I didn't throw 30000.00 in to this one!

But still, I'm down over $1k and I bought yesterday! :dunno:

Patience....patience haha we will see it head up to 13-14 soon enough.
I've got a buy order in at 11.60 if that gets filled next buy in position is below 11 :eek:

[Dinan]

Originally posted by djayz


Patience....patience haha we will see it head up to 13-14 soon enough.
I've got a buy order in at 11.60 if that gets filled next buy in position is below 11 :eek:

below 11, hehehe, don't say that.... :nut:

you got your 11.60..


damn it's just dropping...... how low can it go....

[djayz]

Originally posted by Dinan


below 11, hehehe, don't say that.... :nut:

you got your 11.60..


damn it's just dropping...... how low can it go....

No 11.60 for me haha just redid my buy order for 11.40

[Dinan]

^^^ lol 11.60 not good enough for yaaaa....... howmuch lower can it go, damn.....

[DJ_NAV]

^I'm putting my order in at 11

[Z_Fan]

At this rate, a $10.50 order will get filled tomorrow morning and make an $11.50 order look foolish. :rolleyes:

Wow, huge beating. Wiped a couple weeks of uptrend out in just 2 days. Nuts. :nut:

[997TT]

man HGU is bringing back shades of HOU.

I hope next week turns around.

If it falls below 882 low we might be in for a deeper decline.

[max_boost]

I am so glad I only bought 500 shares :nut:

I'll wait for under $10 now. :devil: and then the Feds print another trillion dollars and we'll get that 50% spike hahaha

[eljefe]

Originally posted by max_boost
I am so glad I only bought 500 shares :nut:

I'll wait for under $10 now. :devil: and then the Feds print another trillion dollars and we'll get that 50% spike hahaha

Me too......no no thats not true I'm lying to myself- I only wish I had bought just 500 shares

[in*10*se]

yeesssss :)

http://www.cnbc.com/id/30033711/site/14081545?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo

The American Urological Association has added a "placeholder" for the highly anticipated data on Dendreon's prostate cancer treatment, Provenge, as a prostigious "late breaker" at the group's upcoming annual conference, CNBC has confirmed.


CNBC.com
--------------------------------------------------------------------------------


The information was posted on the AUA website today and confirmed by Dendreon's [DNDN 6.07 1.73 (+39.86%) ] CFO Greg Shiffman.

Late-breaker status means clinical trial restults are important enough to warrant being highlighted in a larger, marquis venue at a scientific conference.

Provenge is the controversial theraputic vaccine for prostate cancer.

The data to be presented are from a late-stage clinical trial and, if positive, would provide a basis for potential FDA approval of Provenge. The result could be presented the end of this month at the AUA's annual meeting in chicago if they are ready in time.


RELATED LINKS

Current DateTime: 12:26:26 03 Apr 2009
LinksList Documentid: 21422725
Track the DJ Healthcare Index Here
Latest Pharmaceutical News
Pharma's Market with Mike Huckman

Dendreon has previously communicated the data would be available in April. AUA is simply keeping a place in the program open for the Provenge results in the event they are ready.

DNDN shares are at a new high on heavy volume.

[e36bmw///]

nm

[SJW]

So nobody grabbed any OPC?

Crazy buggers , buyout is on its way.

[KleanCord]

Nice tip on the DNDN. Wish my money wasn't tied up in other stuff. I was thinking about taking some money off the table on RIM or Quadra but never did.

[KleanCord]

Originally posted by SJW
So nobody grabbed any OPC?

Crazy buggers , buyout is on its way.

Another nice call.

Opti has been discussed for months as a buyout target. Why do you think the buyout is imminent?

Was this just the bloomberg article that came out or is there actual grumblings?

[Dinan]

Originally posted by eljefe


Me too......no no thats not true I'm lying to myself- I only wish I had bought just 500 shares

lol you and me both, hehehe... but at the end it went up... 11.62 .. maybe should have bought at 11.30, when you come to look at it now... hehehehe

[in*10*se]

in regards to opti

who would want to buy 2 billion in debt?

and who would want to buy a minority share of a company when nexen owns 65%?

personally, i think its just rumors.

mind you i know people that work in the financial reporting dept. and i have not heard anything thus far....

but on the other note, opti is making some nice climbs from its dollars stock... up 30% in a few days.

[SJW]

I think both of them will get scooped. They're sitting on 40+ years of oil supply.

[Z_Fan]

I sold Opti (at a loss) just a couple days ago. So now I am a little pissed about its run up.

[e36bmw///]

nm

[sputnik]

SilverRex is strangely quiet today.

Rough day in the gold mines.

[SilverRex]

^

not really ive already posted my thoughts early in the morning, and not much changed since. Anything below 900 gold is gift. ive added my hgu position and ive mention oil is rising too fast, ill be looking for it to pull back further before entering again, aside roll over is next week so that will make oil even less attractive at current prices

[SilverRex]

ok im sure this has been talked about before the gold price is currently in consolidation mode, to get better picture of what it is really doing you can confidently say it is forming a very large cup and handle pattern. This pattern has been around for 8 months and is at the last stages of forming the handle.

You can clearly see in the chart I posted.

First what qualifies a cup and handle pattern?

1. It forms a U shape bottom shown in red
2. It should retrace roughly 1/3 of its prior move and no more than 50% (although some extreme could retrace 2/3) But gold retraced 34% from its 1033 high to 681 low which is perfect for this setup
3. Handle is formed when it fails to retest the previous high (stopped at 1006)
4. Handle will then retrace about 38% or 50% of the cup's depth which is either 123 or 163 which is 883 and 843 gold (now note: is it no wonder that gold SHOT UP 70 dollars when it touched 883.72? someone must know something to massively load up the boat at that level)
5. Handle needs to be in some sort of flag or pennant pattern shown in blue color.

When it is said and done, gold should breakout from the downward slop above the upper blue down trend line, that would be a key signal once it finds THE bottom. The only question is, is the bottom at 883? or 843? if 883 fails to hold, it could find its way to 843 in a heart beat. And when this cup and handle breaksout to the upside, target is measured based on the peak of the cup and the low of the cup which is about 300 dollars that will translate to gold getting to 1300 dollars before any more significant pull back.

So the coming weeks I suspect we either see the 883 level gold or the 843 level to hold, and I do not believe it will goto the last level at around 805 because there is a up trend channel off the weekly chart denoted in green line shown.

Therefore what does this mean? This mean one is to accumalate gold anything under 900. If your a safe investor, then wait until gold breaks above the upper blue down trendline.

http://i278.photobucket.com/albums/kk118/genmaster/cup1.jpg

Some will say well when applying this cup and handle pattern to stocks, there is also the volume aspect that needs to hold up as well. such that when it is forming the handle, the selling volume needs to be decreasing. Well if so, lets look at GLD chart below and again it is playing out to the pattern perfectly.

http://i278.photobucket.com/albums/kk118/genmaster/cup2.jpg

[Dinan]

just my luck, i buy gold for the first time and it drops :facepalm:

lets se how it plays out monday.....

[Z_Fan]

Originally posted by Dinan
just my luck, i buy gold for the first time and it drops :facepalm:

lets se how it plays out monday.....

Monday is going to be a fucking slaughter dude.

Expect HGU to open in the 10's. Might even hit 9's on Monday. I'm pissed I doubled my position on Friday. HUGE mistake. HGU holders are going to get *KILLED* tomorrow.

Just you watch and see. :devil:

Ugh. I'm going to do something crazy and double up again when HGU hits $8.99, which might be Noonish tomorrow. Hahahahah.

[max_boost]

I have a buy order set for $9 HGU! Not too worried at all. Unlike HOU/HOD, you can recover from this unless gold decides to go back into the $500's, in that case you will have to wait for a LONG time hahaha

[DJ_NAV]

just sold my HGD!!!

[Dinan]

wow you guys think we will se 9 hgu ???? why?? whats making gold drop like this???


lets see what SR has to say :D

[997TT]

yup, i'm fk'd again.
i might sell at open and see what happens.
gold in the $870's now.