Official Short-term Investments Thread

[SilverRex]

for those that got in HOU today, if it should bounce, make sure you use your entry as stop loss, simply because the market is at a critical stage, either the currently level is a screaming buy or there could be further break down.

good luck

[Z_Fan]

Not going to quote everything. But yeah, another 10,000 shares got sold from my sell order today. What is funny is my sell order is several places down the list.

I know those sell orders were there before mine. They have not changed in the past several days. Same orders. Mine falls in same place. Just mine is getting shares deducted and theirs are not. I figure it must be RBC buyer RBC seller kind of thing.

I can not see times. But again, I know they were there before mine as I took note.

So, as time has passed now, my buy order from a week ago is now the top one, so it is starting to get partial fills too. LOL. But this is why I am concerned. Because I'm losing my shares and not getting enough back at the lower buy price! Originally I was not worried because my buy order was near the top and I would be getting even more shares. Anyhow, you see the problem. I could be losing all my shares even though I am also at the top of the buy if no one wants to part with their shares at the market buy price.

:nut:

Basically I'm flipping about a quarter million shares of this penny stock trying to buy 0.005 lower than I sell, and just accrue shares in this fashion - which has been slow but has been working. But if I am falling in to some strange trap here, that'd piss me off. Hahahahha...

[Jlude]

Originally posted by max_boost

Ok, perhaps the stress test results is necessary to tank the market one more time? At that point I'm going to push a shit load of money into it and then watch for the huge bull run after wards? Yes? No? lol

I noticed you said to be weary of Today... and you were right.

I'm doing the same... waiting to see where the bottom is and then ride the bull.

[Dinan]

Originally posted by Z_Fan
Not going to quote everything. But yeah, another 10,000 shares got sold from my sell order today. What is funny is my sell order is several places down the list.

I know those sell orders were there before mine. They have not changed in the past several days. Same orders. Mine falls in same place. Just mine is getting shares deducted and theirs are not. I figure it must be RBC buyer RBC seller kind of thing.

I can not see times. But again, I know they were there before mine as I took note.

So, as time has passed now, my buy order from a week ago is now the top one, so it is starting to get partial fills too. LOL. But this is why I am concerned. Because I'm losing my shares and not getting enough back at the lower buy price! Originally I was not worried because my buy order was near the top and I would be getting even more shares. Anyhow, you see the problem. I could be losing all my shares even though I am also at the top of the buy if no one wants to part with their shares at the market buy price.

:nut:

Basically I'm flipping about a quarter million shares of this penny stock trying to buy 0.005 lower than I sell, and just accrue shares in this fashion - which has been slow but has been working. But if I am falling in to some strange trap here, that'd piss me off. Hahahahha...

oh wow, thats alot of shares!!! hahaha.... what stock is this?

[Z_Fan]

Originally posted by Dinan


oh wow, thats alot of shares!!! hahaha.... what stock is this?

Just one some of us (a lot of us actually) got burned on last year before you were here. Some of us have hate-ons for certain stocks. I'm sure if you ask Rat Fink he's still got a special place in his heart for RSG.

[Inzane]

Originally posted by Red@8
Just picked up a little HOU myself.

I thought about it. Put in a bit of a stink bid today for some. Didn't get filled yet. We'll see what happens tomorrow.

[Rat Fink]

.

[Dinan]

^^

oh wow:eek:

you guys really make money on penny stocks?

[SilverRex]

ok let see, some week earnings looks like the swoon will continues which is good.

oil, finally my chart has been updated to June price. as you can see price on this chart popped back to 48, but take note, it looks like it bounced off the green trend line, but that really doesnt mean much yet as oil needs to climb an up hill battle of around 49, 50 and 51, and with the weakness of the market, unless something suddenly turns it around, oil could quickly fall back to 45-46

personally I would not enter at this level and take the risk, I rather wait till it drops back to 45-46 and see how it reacts or to safer play is to wait until price can comfortable trade above the upper down trend line somewhere around above 51.50 then there is still plenty of upside then with less risk again i have to say we are right in the middle which is no good unless you want a 3-4 dollar stop loss haha

http://i278.photobucket.com/albums/kk118/genmaster/oil44.jpg

as for gold, not much, the 865 still looking like a double bottom formation, but to confirm we need gold to get above 900 and stay there, obviously if this happens this would continue gold shares higher and would make the 8.80 HGU such a dream trade. still cant rule out 840 unless gold gets above 900, the big tigger will come if gold can trade above 925 which would signal a break for this 2 month down trend.

Just a bit of a tease, do you know if gold can ever breaks 1000, hui will no doubt get back on its growth trend channel which now targets 800 area as the upper channel? and based on current exchange rate and HGU values, that would mean around 55-60 HGU. wont that be a dream. but who has the guts to hold it that long? well I do have a few position open and so I will try to shoot for this target


http://i278.photobucket.com/albums/kk118/genmaster/gold37.jpg

[KleanCord]

Thanks as usual Rex.

[SilverRex]

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1926808

very good read talks about how the S&P put in a bearish advance block that took out the low of the last 3 up days which is very bearish with triple negative divergence watch out

if the analysis is true, we are at the start of a new down trend

[997TT]

OIL getting crushed right before open $44.03

good on you guys who stuck it through with HGU. I'm glad i sold one day before the pop ....

FAZ is on a mission .... only thing keeping a smile on my face this morning as i've recovered some of my BAC/HGD losses.

overall still down :facepalm:

[Dinan]

ahhhh shit! oil went to the shits!!! lol lucky i only bought 500shares.....


lets go gold! :)

[SilverRex]

take this with a grind of salt but none the less music to my ears

"The gold price is poised to break through $1,000 an ounce this week and could reach $1,500 before a price consolidation. Yesterday gold and silver closed higher while global stock markets fell as the five-week rally ended.



This is an important trend reversal and marks a shift by investors to safe haven assets in advance of another plunge in equity values.



The US dollar also strengthened across the board and bond prices rose. It is unusual to see both gold and the dollar rising together but again this normally signals an important trend reversal.



Money supply growth



The fundamental case for investment in precious metals has also become overpowering. Global bank bailout and stimulus packages have resulted in a huge increase in global money supply that has never had any effect except inflation in all history.



The gold supply by contrast is relatively fixed and production is actually falling. Supply is even tighter for silver – where stock levels are a hundredth of gold – and that is reason enough to expect the established pattern of silver outperforming gold will be repeated again.



As investors rotate their assets out of stocks and into alternative asset classes the best returns are therefore likely in precious metals, and such information tends to be self-fulfilling.



There are all sorts of minor trends supporting this basic trend, and like any true bull market there will be a compounding of supporting evidence: from a shortage of gold available for bank leasing to UK Prime Minister Gordon Brown’s call for IMF sales, often seen as a contrary indicator as his previous calls boosted gold prices."

[Dinan]

see what happens when we buy HOU when SR doesn't! LOL! :facepalm:

[Z_Fan]

Originally posted by Dinan
^^

oh wow:eek:

you guys really make money on penny stocks?

Hell no. Why do you think we are so bent about them? LOL!

[997TT]

In HOU at $4.97 ....
thinking about rebuying into HGU ..now at $9.78

ECA looking pretty attractive at $51.50
CNQ holding up well relatively speaking

[tylere]

As soon as I bought HOU yesterday @ 5.23 it completely tanked :banghead: Just placed an order for some @ 4.75, hopefully it gets filled sometime today or tomorrow and I can average down

[Jlude]

LULU is up .50 today... but I'm still gonna wait.


AIG went down to 1.29... hope it goes back down to .95!

[bigbadboss101]

Looked away for a few minutes and HGU went wayyyy down, and oil and financials are recovering. Hmmm...

[KleanCord]

haha.

Good thing I didn't short TCK. Just saw they shot up like 30%

[997TT]

Man today has been great.... haven't posted all my plays but am up nicely.

anybody watching TCK.B

got halted and now up 30% to $11.85.

man I've been in and out of that stock a few times.... and was thinking of buying some today in the $8's

would've could've should've ... oh well.

[KleanCord]

^ see above.

I still think they are overvalued for being so far in debt and liquidating their good assets. But when news of a debt reprive shoots it up 30% I think it is best not to play around.

They still have $4.4 Billion in debt due it is just not due right now.

[max_boost]

TCK.B looking good.

I'm still banking on DNDN lol

[Dinan]

Originally posted by bigbadboss101
Looked away for a few minutes and HGU went wayyyy down, and oil and financials are recovering. Hmmm...

ahhh, i know,,, damn, should have sold in the morning.....

[bigbadboss101]

Originally posted by max_boost
TCK.B looking good.

I'm still banking on DNDN lol

You don't think DNDN already went up a lot and investors have taken into consideration the next result will be a positive one? Current price has the good upcoming result priced in is what I am referring to :dunno:

[tylere]

Wow, oil is going crazy today. What a wild ride

[KleanCord]

Does anyone have an intraday chart for June prices?

I use Xovian.com but the problem is like most other places I have found they are still using the May contract.

[SilverRex]

hmm technically the drop on monday was quite significant, and I can only imagine today is simply a head fake? obviously it will take a few more days to see how things unfold, but so far, so good

[Dinan]

so far so good, in which way? oil up or down ?

[997TT]

I can't focus at work ... just glued to my streamer.

So this is what it feels like to make money .... haha

i'm sure over the coming weeks i'll give it all back

[Dinan]

Originally posted by 997TT
I can't focus at work ... just glued to my streamer.

So this is what it feels like to make money .... haha

i'm sure over the coming weeks i'll give it all back

lol, what did you buy?

[Proyecto2000]

i been trying to get into HOU at $5.15 and no luck :(

[997TT]

Originally posted by Dinan


lol, what did you buy?

sold FAZ this morning and bought FAS (similar to what i did on HGU/HGD but this time i guessed right)
bought into HOU @ $4.97 and ECA @ $52

punishing the markets today ... lol.
pretty much made back everything i lost on HGU.

[KleanCord]

I think I am out on FAS and maybe BAC. Markets don't want to break the 38% retracement from Friday.

[e36bmw///]

nm

[Dinan]

Originally posted by 997TT


sold FAZ this morning and bought FAS (similar to what i did on HGU/HGD but this time i guessed right)
bought into HOU @ $4.97 and ECA @ $52

punishing the markets today ... lol.
pretty much made back everything i lost on HGU.

nice, so you made back your 7k or soo ?? wow, thats nice for one day :eek: :D

[997TT]

Just sold FAS at $7.42
my USD account went up almost $4k today....lol

still holding HOU but looking for an exit point before inventory counts ... aiming for $5.30 if i can get it (need anohter $0.05)

ECA will hold until $55+

Maybe those HRE's will be on my car before the weather goes all $hitty here again....

[SilverRex]

ok no new chart today, because nothing has changed, go back to yesterday for them if you want them.

with oil inventory, I expect volatility, but mostily any rally would be short lived. And so far earnings continue to flood the market negatively, I expect right now the sentiment is short on rallies in the market, this could hurt oil for the time being.

unless some surprising event shows up like gov comes out with something official such as a strong stress test performence to overrule the leaked version or what ever, chances are good dow is headed to attampt to test the low in the coming weeks or month.

with that I will be very careful trading oil for the moment. Any take on oil should be short term trades. I'll rather wait for it to trest below 47 or a break above 51 to avoid the volatility in between. While 45.5-46.5 should be a good place to buy but if the market is headed south we may see 44 if you dont want to take risk, then buy only around 45 with with a 3-5% stop or above 51 is my recommendation.

just for kicks, if the inventory shows life oil could spike to 50-50.50 then back down. lets wait and see

and gold very interesting 880 held, and is now back to 888, im finding gold holding up extremely well. alot of aggreement around all other analysis suggest gold is very bullish above 920, bullish above 900, bearish below 880 and very bearish below 840

while I agree, I'll just stick with gold takes off above 901.70 and a sell off below 880, with a 20 dollar range. we will soon find out if gold has indeed bottom or not.

edit: Morgan Stanley posted worse than expected result, loosing 57 cent instead of 8 cent. ouch

[Dinan]

^^^ thanks, like always!

capital one stock is down more then 7% too with first quarter loss!

[997TT]

Might be a good open for ECA.... wasn't expecting their hedging results to be so good.

EnCana, which last year called off plans to split into two companies, said on Wednesday that it earned $962 million, or $1.28 a share, up from $93 million, or 12 cents a share, a year ago.

The results included a mark-to-market hedging gain of $89 million in the latest quarter, compared with a loss of $737 million in the first quarter of 2008.

[e36bmw///]

nm

[Dinan]

wtf is up with BMO, it didn't sell anyting for me :banghead:

[KleanCord]

^My moms Action Direct is like that as well. One of the reasons I am reluctant to change from Etrade. My orders have yet to have a problem filling, and on limits sometimes I will get even lower than what was entered. I really believe on Action Direct they try to fill at a higher price and pocket some profit in the difference.

What a morning...

Actually made some money on FAZ, lost money on shorting Freeport and BAC. Back into FAS and BAC and recouping my losses.

Can't believe how the banks reacted to Morgan Stanley/Wells/Capital One.

[Dinan]

Originally posted by KleanCord
^My moms Action Direct is like that as well. One of the reasons I am reluctant to change from Etrade. My orders have yet to have a problem filling, and on limits sometimes I will get even lower than what was entered. I really believe on Action Direct they try to fill at a higher price and pocket some profit in the difference.

What a morning...

Actually made some money on FAZ, lost money on shorting Freeport and BAC. Back into FAS and BAC and recouping my losses.

Can't believe how the banks reacted to Morgan Stanley/Wells/Capital One.

i know, what is up with that, they all posted losses....... the market doesn't want to pull back anytime soon....

[sputnik]

The way the markets are moving today... it looks like MONDAY was the one day "head fake".

[SilverRex]

^ just be patient, market has a way for messing with you even if you pick the right trend. consider any rally a gift to get out.

whats interesting is, gold is in a tight range between 884-888, and somehow it feels like gold doesnt want to come down at all, it keeps creeping back up to 887, very important to watch.

gold share after sharp rise, dropped to near its open now straight backup. it is slowly starting to feel like the 865 may have been the bottom, but gold needs to beat over 902 I'd say to confirm it. watch out, many are calling a start of a rally straight into June for gold then another consolidation before taking off again.

yes until the market proves me wrong. if I dont get my 840 entry I will use my dry powder on the break above key resistance such as over 902 and over 920

[SilverRex]

stupid TD waterhouse, again cant log in my web broker just when I wanted to add to my HGU position. Dam you.

oh well cant be too greedy :banghead:

[997TT]

Originally posted by SilverRex
stupid TD waterhouse, again cant log in my web broker just when I wanted to add to my HGU position. Dam you.

oh well cant be too greedy :banghead:

I've been trying to get into TD for the last 10 min
POS

[SilverRex]

update: gold at 891.97, now 892.12, now 892.75 such painfully slow rise. reminds me of watching the flames play and winning only on the slighest of margin

do you know gold and silver both are almost near true backwardation.

edit: I may have said this over in my long term thread, but so far the theme is gold is about to bottom if not bottemed and assuming stock does reverse and at least retest the low or make new lows in the next few weeks. Gold will rally until mid June. then I Think we will have a few months where gold consolidates again before resuming another run.

my take is once gold poke its head above 920, we will begin a rally for gold finally taking out 1000, so far upper target between 1100-1250 until mid june or which ever comes first. Then we will see the 950-1000 area tested and should see some sort of bullish pattern to lead gold even high by next feb-march time frame. Again one step at a time, if gold cannot produce price above 902, 843 support will continue to be in the cards. As a gold bull myself, either play is good.

I read india with April 27 wedding or some sort of gold festival is coming up, many are placing order for gold below 865. which tells me, anything below 865 will can expect some very strong support, then again we are really in a wait and see mode. if gold suddenly takes the upside, imagine india and co couldnt wait any longer, price will start to accelerate the higher it climbs because India needs their gold soon if not now.

[Proyecto2000]

http://www.theboxset.com/images/reviewcaptures/396capture_goldmember04.jpg

I Love Gold!

[SilverRex]

Nasdaq and S&P500 chart wise today looking like a h&s, we could close in the red for all index
update: interesting equity went back up, it need to break its neckline to confirm the pattern, going to be interesting leading up to friday

looking at the gold/silver comex contracts, the backwardation is getting more severe, few months ago, I seldom see gold in backwardation, but silver I saw.

now gold is becoming what silver was a few months ago and silver is even more stressed

this could be very very interesting in the coming weeks.


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

[SilverRex]

update:

holy cow

gold just went 4 contract month with front month equal or higher

http://i278.photobucket.com/albums/kk118/genmaster/backward2.jpg

[KleanCord]

why wouldn't that be a negative Rex?

Seems like if contracts are lower in the future, there are people out there who are not too sure of the upside potential.

[SilverRex]

Originally posted by KleanCord
why wouldn't that be a negative Rex?

Seems like if contracts are lower in the future, there are people out there who are not too sure of the upside potential.

you can say that, and backwardation does not guarentee price rise but then again its a sign that something isnt right. It could imply there is a shortage and that people want gold/silver now instead of the future.

here is some good read, gets complicated a bit. none the less one cant just use backwardation as a indicator, but you combine it with everything like TA, the market, news, trend. then you get a picture that the coming backwardation most likely mean some sort of squeez is coming

http://www.investopedia.com/articles/07/contango_backwardation.asp

[Dinan]

looks like the gains didn't hold up, most markets are back in the red...



suncor comes out with their earings tomorrow, what you guys think???

[SilverRex]

nice, what luck so market did close in red, but not because of the H&S pattern that I saw eariler haha

gold mack in the middle above 900 bull below 880 bear and guess what its right at around 890

market has been on and off around 8000 for DOW. three test above 8000 all failed. Could this now become a heavy resistance? definately throw a win to the bear side right now

simply put, the entire world is directionaless at the moment. but once it decides to move one way, it will move quite a bit

:) time to turn off the PC and watch hockey :goflames:

[Z_Fan]

Massive sell off at the end. It's almost like the whole world is daytrading and NO ONE wants to hold anything over night! It's nucking futs! :nut:

I still think the market should be a few thousand points lower than it is. :poosie:

[davidI]

Originally posted by Z_Fan
Massive sell off at the end. It's almost like the whole world is daytrading and NO ONE wants to hold anything over night! It's nucking futs! :nut:

I still think the market should be a few thousand points lower than it is. :poosie:

This sums me up. I think the market should be lower but since things keep going up I'm almost forced to day-trade. Just don't like holding overnight because I think when things drop we're going to lose 1-2000 points over 2-3 days!

[Z_Fan]

God I hope so. Cuz then gold is gonna go through the roof. ;)

[broken_legs]

Originally posted by sputnik
The way the markets are moving today... it looks like MONDAY was the one day "head fake".

Nonsense. Friday we'll have a big sell off. Probably a gap down. Chance it might happen on on Thursday, but I think people will get nervous and sell over the weekend.

Only way we're going up is if we take out the opening price from Monday on Thursday, otherwise its down down down.

This is what my psychic powers told me in a dream, so i am short.
The chart is going to look like this after Monday:
http://i274.photobucket.com/albums/jj259/broken_legs/DowGuessThursdayApril23.jpg




Originally posted by Dinan
wtf is up with BMO, it didn't sell anyting for me :banghead:

FYI

If you are using action Direct, or TD Waterhouse or any of the banks online discount brokerage services your orders are NOT GOING DIRECT TO MARKET.

They literally go to a guy on the floor who executes the order sometimes. There is literally someone who looks at all your orders.

If you want direct market access you need to switch to a trading platform like TOS, or Active Trader.

[Dinan]

^^^ oh yeahhhh... thats bull! why is that ???

it always would sell right away, i don't know what happend yesterday....




any thoughts on oil..... doens't want to go over 50 ....

[broken_legs]

Originally posted by Dinan
^^^ oh yeahhhh... thats bull! why is that ???

it always would sell right away, i don't know what happend yesterday....




any thoughts on oil..... doens't want to go over 50 ....

Its not bull. Call and find out. you do not have direct market access.


I just bought more HOD today

So to sum up:

I'm about 50% invested
I'm holding May, Jun, Sept Puts on XLF
HOD
HXD

The rest in cash.

Looking ahead 2-3 weeks for another down draft on the world markets, or sideways at best. If I'm wrong and we keep on rallying I will stop out when we break above the point where we broke down out of the wedge in Oil (~50$) and DOW at 8200.

[Dinan]

^^ i mean, it's bull, why is it like that..... that sucks!!



i see you think oil will go down since you buyin HOD!

[broken_legs]

Originally posted by Dinan
^^ i mean, it's bull, why is it like that..... that sucks!!



i see you think oil will go down since you buyin HOD!

Just to be clear, I'm half cut in an airport lounge right now, but just based on todays opening I'd say the market is going to be moving south faster than my pretty chart

[KleanCord]

Yesterday was quite confusing. I was up, I was down, I was up, I was down. The previous two days I took profit and ran. It turns out I should have rode the trend. Then yesterday I try to ride the trend and I should have just taken profit.

Thank god for the massive sell off at the end of the day. It helped recoupe most of my losses.

I asked this before but how many of you are actually day trading for a living? It seems to me the 90% failure rate is a myth, and I would just like to hear any thoughts on that.

[Dinan]

Originally posted by broken_legs


Just to be clear, I'm half cut in an airport lounge right now, but just based on todays opening I'd say the market is going to be moving south faster than my pretty chart


lol, you flying somewhere south too :p


gold is over 905!!! lets go gold!!!!

[SilverRex]

gold has clear the 902 hurdle, sustaining would be key. price projection for gold from 865 to 895 (30 dollars) should at least put gold to hit 910.

we have one last hurdle before gold really takes flight and that is getting pass the 917-920 hurdle.

as a deamer, if you follow my LT chart on gold, it is still playing out just like the 1979 to the month. it broke away end of April and after taken out its previous high around 250, it went on to hit 860 I think about 3.5x within 8 months.

Now will this happen? will gold suddenly explode for the next 8 months? no one knows.

but money supply, stress on the comex market, technically and forecast all points it is possible, the only thing is, we know the US gov will do what ever it takes to not let the same mistake happen again.

But if I was a believer I Would at least hold my gold at least until Jan-Feb of 2010. And I would suggest if your firmly planted to take profit along the way. leaving a smaller position as it moves higher.

[Proyecto2000]

finally, a day where I am in the green :)

[SilverRex]

here is something interesting, not sure if it's worth the attention

but US dollar has dropped against most currency and the index has decline. And gold is up, well that is normal right?

well typically when US dollar drops, oil and stocks goes up

BUT wait

oil and stocks are down. WTF?

now this could mean one thing and that is more and more people are not moving into the dollar, but gold instead? hence it was able to break above 900?

it will truely be a very interesting development.

[Dinan]

would you buy at this price now?

[DJ_NAV]

i'm up in both oil and gold today....

[e36bmw///]

nm

[Dinan]

wow, look at gold, its been hold 905 and not letting go! :)

[SilverRex]

http://www.kitco.com/ind/Degraaf/images/apr232009_1.gif

http://www.kitco.com/ind/Degraaf/images/apr232009_5.gif

http://www.kitco.com/ind/Degraaf/images/apr232009_4.gif

http://www.kitco.com/ind/Degraaf/images/apr232009_3.gif

http://www.kitco.com/ind/Degraaf/images/apr232009_2.gif

[Proyecto2000]

im out of HOU @ $5.45 :thumbsup:


put an order at $5.20 again, hope it fills.

[Z_Fan]

Uhm, am I reading right that gold high is currently $915 ?

Shit, at this rate we could see $920 tomorrow and then I wonder how fast it may rise.

I actually want a nice slow and steady 10% rise in gold stocks each day for a week. That'd be nice. :poosie:

[Dinan]

^ i don't know about 915, but the high so far seems to be 912!


HGU should be in the 12's with this price, no?? if it goes at this rate, it will take $1000 gold for $12 HGU. lol :facepalm:

[SilverRex]

ok today could be a big day on many things.

notice the US dollar index is right at an important trendline. would this imply it will reverse? or would he drop and begin and more lengthy drop, if the US dollar plunges, that would send stocks, oil and gold higher.

at the same time looking at oil, it is near its upper down trendline and the 61.8% retracement is at about 51.50 as well as the trendline that means either oil will not get thru here ( a short opportunity?) or breaking this will resume oil's bullish case towards 70. I intend to wait until oil can comfortable trade above 51.50 and pick a retest or pull back for entry or unless oil can get back down to 44-45 area to open a low risk setup.

then gold touched 913 I believe. not much room to work with here, key area at 918 really. similar to oil, short term will become extreme bullish if it can trade above 920

it will be impossible to know how the market will react to the stress test news today.

but technically, alot of charts especially gold/silver is pointing ready to push into the 920-950 range. Bonds are nearly ready to fall.

there fore I suspect initially market reaction will be positive, then reversal of all gains. But let the market show its hand.

http://i278.photobucket.com/albums/kk118/genmaster/4chart.jpg

[Dinan]

ahhh, again sold hou tooo early :facepalm:

[Proyecto2000]

Originally posted by Dinan
ahhh, again sold hou tooo early :facepalm:

:werd: I should have waited till this morning to bring in an extra 35 cents

[eljefe]

Originally posted by Dinan
ahhh, again sold hou tooo early :facepalm:

Ahh but Dinan, it is far far better to sell to early than to sell to late. A bird in hand is better than two in the bush.

[sputnik]

Originally posted by broken_legs
If history is any guide:

Lucky No. 7?

Investors might be nervous about the incredible rebound in global stock market indexes over the past six weeks, fearful that what goes up so fast must come down at a similarly impressive rate. The facts, however, suggest that these fears might be misplaced.

According to Bespoke Investment Group, the S&P 500's six-week winning streak of 27.3 per cent (as of Friday) ranks as the third strongest in history. Bespoke looked at all 20 six-week winning streaks of 10 per cent or more since 1927 and found out that week No. 7 wasn't bad at all.

In fact, the S&P 500 has on average gained 0.6 per cent in week seven after a six-week winning streak.

“This week has started out on a sour note, so the market is already facing an uphill battle to close the week higher,” Bespoke said on its blog. "The odds slightly favor the bulls based on historical trading patterns, however."


Interesting especially given the start of the week...

[Dinan]

Originally posted by eljefe


Ahh but Dinan, it is far far better to sell to early than to sell to late. A bird in hand is better than two in the bush.

:rofl: thanks for that! :) made me feel better

true true,,, lets see how long i can hold off with HGU hehehe...


lets wait for oil pull back to get back in :)



are we looking at the GCM9 GOLD price?

[Rat Fink]

.

[civic_rida]

End of the week hou rally.
Lets hope.

[Dinan]

Originally posted by Rat Fink
Dinan, the pursuit of the bottom and top 5 percent will friggin' kill you dude, or drive you insane

:rofl:


:werd:



it doens't look like the market wants to go down..... monday was a tease

[Proyecto2000]

what do you guys think about buying HGU at $10.50?

I bought in at $11.30 last week but im just not sure if I should buy more HGU or wait for HOU to drop again.

[SilverRex]

^

I believe gold and gold shares will have more room on the upside. the next cycle top for gold doesnt come in until Mid June.

I'll take any down side as opportunity to add to one's position.


The market is interesting why?

equity is up, oil is up, gold is up and US dollar down.

guess what, when is the last time we see this type of pattern?

During a inflationary trend.

Equity up, gold should have sold off, but it didnt.

If anything, this is actually a good thing for the market as well as gold and even oil.

if we close the week with oil above 51.23, gold above 902, then watch out. they will move higher next week. Same can be said with DOW, if it can close the week above 8087, that would signal higher prices next week IMO. The only event changer is the stress test details. that may still can impact the equity market. So we will see soon enough



but equity is the least of the beneficery, because we saw a few days ago that when the US dollar sank, the equity can pull back.

but gold and oil will most certainly make a move higher regardless of how the equity market does.

Really, all eyes are on the collasp of the treasury bonds and US dollar that will fuel gold and oil in coming weeks.

[eljefe]

Originally posted by Proyecto2000
what do you guys think about buying HGU at $10.50?

I bought in at $11.30 last week but im just not sure if I should buy more HGU or wait for HOU to drop again.

HGU hurt me last week, but I bought it all the way down into the high 8's - After the punishment it put me through I'm gonna make some bucks off of it, I'm in until at least over 14 but......gold stocks have not been reacting quite as well to the uptick in gold as they did to the downtick last week......so be cautious

[SilverRex]

^

yes I agree, it could be a prelude that the stock market is out of gas. Therefore one should not hold gold shares for ever. And should monitor the market. Gold share shines best when the stock market rallies in full gear. IF it doesnt, their upside will be limited.

update. oil is getting rejected at 51.50 and is coming down harder than before.

while the inflationary pattern is welcoming (my last post)

for all we knowjust maybe, oil isnt quite ready to take off yet.

on the other front, DOW is approach 8087 fast, now at 8079

[Red@8]

Just sold out of HOU. A little early, but any profit is good profit.

[eljefe]

Today is the first day so far in the last week since HGU went into the shitter that Gold has held its increases while the equity market has run up. This could bring around a pop in HGU, or at least leave HGU up near its day high without giving up half its gain on the day.

[SilverRex]

gold looking like it wants to head higher

[Dinan]

^^^
lets hope for that pop! cause HGU for some reason doesnt want to increase with gold's gains! but when gold goes down HGU goes DOWNHILL! whats up with that!


and oil is holding its own just under 51.50 for some time......

[SilverRex]

if you remember not too long ago I said I think I spotted a reverse head and shoulder on the oil price, and so far it played out exactly that, after breaking the purple neckline, it went on the retest it then took off.

based on that pattern, the near 3 dollar of this head and shoulder would project price once it broke out to the upside of just under 52.

and so we touched that. Wow power of price projection eh?

with the down trend line at 51.50 and 61% retracement right at 51.23

I would be thinking short. with a tight stop above today's high. I dont think we can break this resistance area all in one shot.

not unless the US dollar shits the bed

http://i278.photobucket.com/albums/kk118/genmaster/oil45.jpg

[Dinan]

so the stress test results are at 2pm ET ..... what you guys think, will that make gold/hgu go higher or lower?



edite... the file results will be may 4th not today, today is just the methodology......

[civic_rida]

Is your money on fas or faz

[Dinan]

the way that things are going and the market doesn't want to go down i would say FAS but then again THIS could be the news to send the markets down!

:dunno:


and more valume on FAS, so people think it's good news :dunno:



just buy in both, can't lose :D

[SilverRex]

like I said, gold seems it wants to go higher
and its making a move now 913+

I say key area to watch is 917-918 that is gold's down trend resistance.