Official Short-term Investments Thread

[ballah]

anyone know of any good resources that states TSX predictions by month (i m wondering what it s supposed to do this month)?

what do you guys think the TSX will do? go up to hit 10, 000 points? is this the beginning of another huge wave like it did from 2004 to 2008?? or will it drop again into the 7000's like it has recently once it hits close to 10, 000 points??

[SilverRex]

not much update on chart wise

gold is again flerting with the down trend line which rejected price down to about 895 I Believe, now trying to break again

while until it does and sustains above it, gold isnt going anywhere but the intertesting element that is developing is silver.

while gold only gained about 3% off 880, silver gained nearly 14% and continues to surge higher.

the ratio between the two metal has narrowed to 66

now this only means one of two things. when silver ratio narrows that means there is massive liquidity in the market place which in turn could be a signal the market is heading higher. or the metals itself is about to rally to higher heights either way its good.

look for oil possibly to make a new high, its been consolidating between 53-54 quite well and could suddenly push higher. but given its important 55 peak (similar to gold when price was capped at its trendline) I'll be watching on the side line to see how it plays out the 55 area.

[davidI]

^ You'll see arguments going both ways. A lot of people, myself included, don't see the fundamentals to support a continuing rally. At the same time, things seem to be bullish and lots of investors are still in large cash positions so as they invest it may continue to push the TSX higher. It could go either way...for now I'm just focussing on short-term trading and if the bottom does drop out again as I think it might, I'm pushing all-in.

[davidI]

Sorry, above post meant for ballah.

I'll also be watching oil on the sideline today. Cashed out my HOD for a small gain (~1% haha) at the end of the day yesterday.

With the stress test results coming out I can see oil going either way, although with the bullish sentiment in the markets I feel it will probably go up due to a decreasing US$ and the price possibly pushing past it's resistance. I'm no expert though...just learning through small gambles.

[davidI]

http://www.financialpost.com/1562248.bin

[Dinan]

SR, do you play silver too? Etf?

I been watching silver too, it went up over 4% yesterday while gold WAS up just over 1% before it dropped.

Oil is up over a dollar, just under 55$! Goild is all over the place today, up and down! For the last half an hour

[SilverRex]

Originally posted by davidI
^ You'll see arguments going both ways. A lot of people, myself included, don't see the fundamentals to support a continuing rally. At the same time, things seem to be bullish and lots of investors are still in large cash positions so as they invest it may continue to push the TSX higher. It could go either way...for now I'm just focussing on short-term trading and if the bottom does drop out again as I think it might, I'm pushing all-in.

dont forget we are in a extreme condition environment, think of it this way, its all about the US dollar right now. the massive flood to cash trigger equities sell off, even gold sell of in 08. and if everyone is starting to ditch the US dollar, money has to go somewhere, it could very well be stocks, oil and metals.

Yes the economy isnt fully recover but stock market usually reflects 6+ months out anyways. I agree technically it is due for a big pull back but until it happens you just have to give it credit.

imo, if the US dollar does not hold 83 on the index, then that is quite serious, I Didnt expect it to drop without one more surge, but no one knows when the real resumption of drop begins, and when it does it will send everything higher. just like it did between 02-07, do you really think the rally in the last half a decade was because of great economy growth? not really, it was all due to a weakening US dollar.

ADP just report better than expected unemployment numbers this morning, geez just what the market needs to move higher lol. asian stock market especially hong kong has gained nearly 60% off its lows. talk about record moves here.

all I'm seeing is, the other justification and key word here is inflation. If 65k was the bottom for DOW then its inflation, if DOW somehow out of this world makes it back above 14k then its hyperinflation baby.

[SilverRex]

Originally posted by Dinan
SR, do you play silver too? Etf?

I been watching silver too, it went up over 4% yesterday while gold WAS up just over 1% before it dropped.

Oil is up over a dollar, just under 55$! Goild is all over the place today, up and down! For the last half an hour

I play silver on spot silver forex exchange with a 50 to 1 margin :)

[Dinan]

GM is going to do a 100:1 stock split!:drama:

[tylere]

Anyone thinking of buying any HOU this morning? I'm tempted to see if I can get some at 6.65 and see what it does today

[Dinan]

sold some HGU, hope it has a pullback to buy in some more before it goes over 11$ :)

[SilverRex]

wow silver to gold ratio has narrowed to 66 to 1 even when silver was at 14.6 and gold was at 1006, it was 68.9 to 1

therefore something is about to happen. Silver is generally more sesitive to inflation and if silver moves big, so will gold - eventually. or the market will also move higher because there is more money flowing back in,

and in order for that to happen, the US dollar has to collasp, because that is the only way to fuel the metals, oil and equities. Could this be a sign that the US dollar is about to break down?

also the gold stocks are out performing gold once again ratio at 0.36 which also points to higher gold prices ahead

[Dinan]

Originally posted by SilverRex
wow silver to gold ratio has narrowed to 66 to 1

thats good for gold right?

just saw the rest of your post, so i guess it is! :)

[SJW]

Are we to expect another oil pull back?

I cashed out of opti at 2.21 for a 50% gain. Now i wished I hadn't.
Oh well.

[SilverRex]

56 oil in which it topped this moring is too high for me with 56 top, bottom of the trend channel now puts the floor near 52.50 for entry instead of 51.5 so let it play out

be patient, no point in chasing high as it is always risk/reward is against you

clearly oil has broken higher, so did the DOW since 8087 as I mention a while back, even silver is back at its march peak when the fed's trillion dollar announcement. But gold just refused to ignite.

Imo I think there are too many forces trying to short gold and wont allow it to beat over 918, the down trendline is now at around 904-905, the bears are trying hard to not let it close above it. because the signal would send gold much much higher.

I think is a loosing battle to them eventually

[bigbadboss101]

Originally posted by SJW
Are we to expect another oil pull back?

I cashed out of opti at 2.21 for a 50% gain. Now i wished I hadn't.
Oh well.

I held it for 3 or so weeks and sold at 2.36 and then it jumped quickly after.

[Dinan]

Originally posted by SJW
Are we to expect another oil pull back?

I cashed out of opti at 2.21 for a 50% gain. Now i wished I hadn't.
Oh well.

i know me too, the other day, at 2.25, what happened with this jump :( :dunno:


i want to get back in! no takeover has been anounced right, don't want to miss this one :facepalm:

[max_boost]

Wow, 10,000!

Oil higher.
Gas higher.
Stocks higher.

This is too easy. So much momentum. Everyone made money? Everyone is happy again?

:clap: :D

[SilverRex]

"China warns of worldwide devaluations and inflation"


http://www.gata.org/node/7408

[civic_rida]

Cashed out waitin for a pull back to decide where to put my money.

[SilverRex]

remember awhile back I posted what looks like a reverse H&S and if oil was to break the neckline imo that was at around 51.3-7 at the time, the projected target to reach would be up to 58

well looks like 55 oil didnt resist much, and now its 56.3, can you see a H&S pattern out performs a resistance top?

at this rate, its going eventually put 55 as a floor for higher prices

[Dinan]

wow, oil is killing it today!


gold can't seem to pass 909.90, is that a Resistance?



lol, i posted it went over, but i would get to 909.9 the drop and so on , so i thought it was some kinda resistance :dunno:

[SilverRex]

ok lets get a quick review here

I underestimated oil's strength, what I thought 55 should provide resistance which it did yesterday, but the rejection was not powerful enough to send it back down to a good re-entry price

and now that its trading above 55, im beginning to see perhaps what I Thought was the trend channel has now been lifted off higher. if this is the trend channel, that puts the current peak right at 58, the same number where I mention is the target if the reverse H&S was to play out after breaking above 51.3 (the 45.5 to 51.5 is about 6 dollars, add 6 dollars on breakout 51.7 you get around 58. So is oil trying to top out at 58 first before a pull back?

looking at it I would consider buying only if it dips to the lower parts of the trend channel which is at 52.5-53 and you could gamble at 54.75-55 with a tight stop if 55 shall become a floor.

but if oil can sustain prices at such level a few days longer, then perhaps the up trend line could eventually meet with the 55 support. That would make it easier to get in, since then you have two support at 55 instead of one at 55 and one at 52.5 that will draw your brains out for figuring where to place your stops

also something to keep in mind, the U shape bottom since oil bottom at 33 and topped at 55, if it breaks out, the targed area suppose to fetch the distance beteen 55 to 33 which is 22 dollars. Add 22 dollars to 55 you get what 77. And guess what is more scary, 76.7 is the 38% retracement from the 147 to 33 low. Talk about perfect syncronicity. So is oil going to 77 and Dow back to 9000+? before the next major leg down? or will this be inflationary like the 70s where DOW bottomed in the 600, consolidated in the 8000 area before breaking higher. (I actually hope its inflationary, because in the 70s, while the DOW was moving sideways in the 850, gold caught up from 200 peak at the time breaking out to hit 1 to 1 ratio with the DOW (my source tells me and im convinced we are in a inflationary enviorment. perhaps the real deflationary scenario will kick in once the real inflationary bubble burst in a few years. So that would be quite the sight if DOW was to hover around 8-9k while gold puts in 8 fold from current levels. Yes I will continue to day dream this fantasy island. lol

http://i278.photobucket.com/albums/kk118/genmaster/oil57.jpg

looking at gold, while its having a hard time moving higher this is because we are at a VERY important area, where if the bears looses, gold will move higher much higher

looking at the chart, what do you think, it had a false breakout yesterday morning and bears manages to push it all the way back down, unfortunately we are back above it. I would say if we can close above this line on the daily chart then this is potentially nail in the coffin. Some will want to wait until gold pokes above 918 but for risk takers, this is it. hui is on pace to hit a new high somewhere in the 350-360 range and hgu to 12+ still feels about right

http://i278.photobucket.com/albums/kk118/genmaster/gold42.jpg

[hattonlynch]

damn im feeling good, lol...
160 dollar in teck has gotten me close to 700 $$$
broke even on galleon
500 dollar in yamana has yielded me roughly 250

big balla here

[Dinan]

i like the sound of 12+ HGU, can take all my shares out without a loss :)

[Mark_Nguyen]

Finally my shares of Bronco Energy moved. Too bad its at my average cost now lol. Anyone else in Bronco energy?

[SilverRex]

i forgot to mention based on the 56.5 top to 45.5 low, the first retracement support lies right at 52.5

which makes a stronger case that 52.5 is the place to buy if oil decides to tank and alot too

but if oil manages to touch 58 first before falling, then that moves the support to 53.50

[bigbadboss101]

US financial stocks pretty hot today. Sold my FAS $1 too early. Sold OPC .30 early. Same as my HGU and YRI. Sold all of these early in the morning. Still,nice gains.

[max_boost]

Yeah I have C and BAC and loving it. :clap:

TSX up 260pts now. This is just insane.

:bigpimp: :bigpimp: :bigpimp:

[Dinan]

^^ you going to keep them till the stress test?



damn OPC :facepalm:

[Nova316]

wow OPC is moving nicely after I sold :( oh well
RBS n C n AIG are up nicely from when i bought them with my OPC money

[civic_rida]

Whose willing to buy hod?

[max_boost]

I'm thinking about buying HOD but I'm scared. :rofl:

[Dinan]

You guys keeping the banks through the stress test results?

[guessboi]

damn, I don't like HOU or HOD right now. is a gamble either way. :nut: I have HGU though. :love:

[DRKM]

I sold my HGU this morning after at 10.66 after finding that gold had too much resistance. Oh well at least I broke even!

I kinda wanted to by a bunch of HXD in preparation of tomorrow.

[Dinan]

Looking good for gold! Damn I missed an order by a cent :( had an order at 10.68 snd it dropped to .69, ahhhhhhh :(

So SR if things go like you say,at what price would you add to your HGU?

[fluid]

well i decided to open an account with questrade.. just a question though, im trying to decide if i just want to open an individual account or a TFSA (Tax free savings account).

im a student right now, and i wont be investing alot of money; but which account do you think i would be better of with?

also is questrade a good option lol?

thanks in advance

[ballah]

Originally posted by DRKM
I sold my HGU this morning after at 10.66 after finding that gold had too much resistance. Oh well at least I broke even!

I kinda wanted to by a bunch of HXD in preparation of tomorrow.

i bought HXD when it was floating around 22.50... bought over 1300 shares of it and i am about to crap my pants... i can t believe how much money i lost (if i was to sell of course)... i m hoping that the tsx will drop but it has been goin up like crazy lately.... i think hxd is a risk at this point.... but then again, look where i am with it... lol

[Dinan]

If I were you I would open a TFSA and put all your cash there, if you got more then 5K then open another regular acc and put the rest there! I wish I opened my TFSA sooner!

Goodluck!



Originally posted by fluid
well i decided to open an account with questrade.. just a question though, im trying to decide if i just want to open an individual account or a TFSA (Tax free savings account).

im a student right now, and i wont be investing alot of money; but which account do you think i would be better of with?

also is questrade a good option lol?

thanks in advance

[Z_Fan]

I went golfing today. So I didn't have the opportunity to sell anything. So, naturally I made a few thousand bucks and shot 85.

Had I stayed home, I'm sure I would have sold stuff and been wishing like heck I'd kept my HGU.

[ballah]

i m at the crossroads now with my investment of hxd..

should i stay and hope that the tsx drops and my hxd goes up??

or, is it better to take the 6g loss and invest in something else and try to make up that loss??

when i bought hxd originally, the tsx went up for bout 3 weeks straight.. i thought that the tsx would have to come down eventually...

need some advice here... thanks guys...

[Z_Fan]

I think it is all going to come crashing down soon enough. But I've also lost huge money in certain stocks by hanging on too long. And right until this day, they are still worthless.

You'd think there will be a pullback soon though...

[ballah]

^^if you were me, would you pull the hxd and take the loss or leave it in??

what is gonna be crashing down (hxd or tsx)?

[Dinan]

I say leave them till at least friday! With the stress test and I think unemployment numbers coming out friday, could help you a bit! But it seems ike if the numbers aren't that bad the market likes to move up! I say wait, you could get some of the loss back!

[SilverRex]

so oil finally hit 58 wow talk about how powerful the breakout was at 51.3, anyways if 58 is the top it brings up our trendline and current retracement entry right at 53.50

however if oil doesnt fall fast enough, then eventually we will see 55 as our floor instead which is more realistic at this juncture.

gold, after re-closing above the down trendline it was indeed bullish and now gold is testing its final hurdle at around 920. I', not sure what the market is waiting for (stress test result?) technically by now money should be flowing into the yellow metal, I would want to see a huge spike suddenly pushing it to 930-950, maybe some big funds are still waiting for the safest entry above 930 to completely clear any bearish scenarios.

I think we will have gold buying pressure if we ever cross 967, and 1033 which means the higher it goes, the faster it climbs. Look at silver it went from 12 to 14 in 4 days

look for Hui to at least touch its previous peak at 343 (335 yesterday's close) But I think we will see higher HUI index at least until 350-360 so hgu should make it into the 12s without much problem imo

[davidI]

This is going to be a crazy day!

[Dinan]

gold is fallowing before the bell.... high of 926$ :) nice....

[e36bmw///]

nm

[mac_82]

AIG opens 17% up

Fannie Mae 12%

Citi 7.5%

Ford 4%

Go portfolio go :clap:

[davidI]

Just picked up some HND and HOD. Let's hope this energy rally isn't sustainable!

[Proyecto2000]

man I wish I would have bought Petro Canada when it was $35

[Dinan]

fuck, i wish i ddin't sell my OPC :banghead:

got back in a 3.10, but shit, what happend, why the spike up, cause of oil ?

[SilverRex]

pull back on gold, I'll look at dips as buying opportunity i say 906-908

oil high at 58.57, we will see if this is top. too dangerous to chase still waiting for a healty pull back. expecting good entry at between 53.5-55

[mac_82]

I had my eye on Air Canada back when it was 0.80 cent range. But decided to stay away. Its 1.85 today...

[Proyecto2000]

Originally posted by SilverRex
pull back on gold, I'll look at dips as buying opportunity

oil high at 58.57, we will see if this is top. too dangerous to chase still waiting for a healty pull back. expecting good entry at 53.50 and 55 at this moment

whats a good entry into HGU at this point SR? Im still holding $11.30 HGU from a week ago.

[SilverRex]

good entry if oil hits those support area denote in purple

and same with gold red area, note after it broke the green down trendline, we are in much better position to buy on dips so I take and fib retracement + trendline to be a good place to buy


http://i278.photobucket.com/albums/kk118/genmaster/gold43.jpg

http://i278.photobucket.com/albums/kk118/genmaster/oil58.jpg

[KleanCord]

Originally posted by fluid
well i decided to open an account with questrade.. just a question though, im trying to decide if i just want to open an individual account or a TFSA (Tax free savings account).

im a student right now, and i wont be investing alot of money; but which account do you think i would be better of with?

also is questrade a good option lol?

thanks in advance

yeah just as Dinan said.

Always open the TFSA first, and then if you still have money left over open a regular account. But remember that if you buy something in your TFSA and then sell it before the end of the year, you cannot make any additional trades without being taxed 1% per month for the amount you are over $5000.

You buy $5000, you sell $5000, you cannot buy $5000 again this year unless you are willing to take the tax hit.

[bigbadboss101]

Originally posted by Dinan
fuck, i wish i ddin't sell my OPC :banghead:

got back in a 3.10, but shit, what happend, why the spike up, cause of oil ?

Not gonna chase this one. Sold at 2.38 yesterday and promptly it sky rocketed.

[Dinan]

Originally posted by bigbadboss101


Not gonna chase this one. Sold at 2.38 yesterday and promptly it sky rocketed.

why, any news on it ?? can't find anything...

[Dinan]

wow, what a crazy day, and only been an hour!

[Proyecto2000]

HGU at the day low right now and here i was debating on selling my SU @ $37.xx

[Z_Fan]

Fuck RBC.

Can't log in.

Piss me off.

Did I mention...Fuck RBC?!

[davidI]

I think OPC is a gamble - it doesn't make sense to me at all.

I'm not sure what people are trading on...likely take-over rumours...but I can't see anyone paying $650 million+ for them when they have a debt / equity of 1.8.

On another note, I'm happy I picked up HND at $10.71 and HOD at $16.56 - now I just need to figure out when to sell!

[tylere]

Originally posted by Z_Fan
Fuck RBC.

Can't log in.

Piss me off.

Did I mention...Fuck RBC?!

What's with the brokers today??? CIBC is giving me an error every few page loads and my Scotia account is giving me
"The requested service Equity Order Entry is currently under maintenance. Please wait for a while before you retry. We are sorry for the inconvenience. "

This is retarted

[Dinan]

wow, hgu in red, didn't see that coming......:dunno:

[kaput]

.

[djayz]

Originally posted by KleanCord


yeah just as Dinan said.

Always open the TFSA first, and then if you still have money left over open a regular account. But remember that if you buy something in your TFSA and then sell it before the end of the year, you cannot make any additional trades without being taxed 1% per month for the amount you are over $5000.

You buy $5000, you sell $5000, you cannot buy $5000 again this year unless you are willing to take the tax hit.

The second part of your post is wrong.
You can only put $5000 into the account per year, whatever happens to that money inside the account does not matter.

2 Examples:

Example 1:
5000 put into tfsa
5000 invested in $1/share (you have 5000 shares)
stock drops to $.50/share
You sell and you end up with $2500.
If you withdraw this 2500 you will only be able to put $2500 back in, in the following year, NOT $2500 + $2500(the amount you lost)

Example 2:
5000 put into tfsa
5000 invested in $1/share (you have 5000 shares)
stock goes up to $2/share
You sell and end up with $10000
If you withdraw this 10000 you can put $10000 back in, in the following year. No 1% penalty applicable.

[KleanCord]

Originally posted by djayz


The second part of your post is wrong.
You can only put $5000 into the account per year, whatever happens to that money inside the account does not matter.

2 Examples:

Example 1:
5000 put into tfsa
5000 invested in $1/share (you have 5000 shares)
stock drops to $.50/share
You sell and you end up with $2500.
If you withdraw this 2500 you will only be able to put $2500 back in, in the following year, NOT $2500 + $2500(the amount you lost)

Example 2:
5000 put into tfsa
5000 invested in $1/share (you have 5000 shares)
stock goes up to $2/share
You sell and end up with $10000
If you withdraw this 10000 you can put $10000 back in, in the following year. No 1% penalty applicable.

I guess my post was confusing.

I just meant if you sold your position and withdrew you would not be able to reinvest until next year. Just like your example 2.

[davidI]

Originally posted by davidI

On another note, I'm happy I picked up HND at $10.71 and HOD at $16.56 - now I just need to figure out when to sell!

Guess I should have sold my HND earlier!! Gas is strengthening. Oh well, I'll hold for a bit...I can't see gas staying over $4.

[Dinan]

ohh so if you withdrew 1000$ now, and you can't put that back till next year? that sucks!!!

[davidI]

Originally posted by djayz


The second part of your post is wrong.
You can only put $5000 into the account per year, whatever happens to that money inside the account does not matter.

2 Examples:

Example 1:
5000 put into tfsa
5000 invested in $1/share (you have 5000 shares)
stock drops to $.50/share
You sell and you end up with $2500.
If you withdraw this 2500 you will only be able to put $2500 back in, in the following year, NOT $2500 + $2500(the amount you lost)

Example 2:
5000 put into tfsa
5000 invested in $1/share (you have 5000 shares)
stock goes up to $2/share
You sell and end up with $10000
If you withdraw this 10000 you can put $10000 back in, in the following year. No 1% penalty applicable.

Also worth noting, in example 1, you will NOT be able to claim any Capital Losses for tax purposes. That's one danger of trading within a TFSA.

[djayz]

Originally posted by Dinan
ohh so if you withdrew 1000$ now, and you can't put that back till next year? that sucks!!!

Correct, anything you withdraw CANNOT be put back in until the beginning of the following tax year (January 1st, 20xx)


Originally posted by davidI


Also worth noting, in example 1, you will NOT be able to claim any Capital Losses for tax purposes. That's one danger of trading within a TFSA.

Yes no losses or gains hence the TAX FREE. In other words only pick winners for the TFSA :rofl:

[KleanCord]

I was thinking originally the best way to use the TFSA was to take part in speculative stocks. But after realizing that not everything goes up I have to recommend you treat it like an American would treat their 401K.

Meaning, buy solid companies that pay dividends. For those that might not have a clue where to look why not start with TRP (TransCanada), or CPG.un (Crescent Point Energy), or HSE (Husky), or Encana (ECA).

This doesn't mean I am thrilled with their stock price potential but they all offer dividends, and some like TRP and CPG are quite high considering their margin of safety.

My favorite used to be Methanex (MX) which I have mentioned a few times but it has already had a good run up and I would find it hard to recommend it over the above mentioned stocks.

Note:All of the above trade on the TSX.

[SilverRex]

gold is about to form a 3rd reversal hammer on the 1 hour chart around 912-914 price area. This is bullish in my books. From my eariler chart this morning I expected gold to find support somewhere between 906-908, it got to 908.95, I guess thats close enough right? sure.

snatched up some hgu at 11.03 after selling at open 11.50 this morning.

silver chart looks even more bullish.

as long as gold doesnt crash suddenly and close below 900 I believe its buy on dips until mid june

[davidI]

^ The only thing with that is that dividends are already taxed at a reduced rate so if you have solid companies that don't pay dividends, they may be better. As you mentioned, speculative stocks aren't always great in a TFSA, but I'll put some of my long term "capital gain" holds in there.

[hattonlynch]

Originally posted by SilverRex
gold is about to form a 3rd reversal hammer on the 1 hour chart around 912-914 price area. This is bullish in my books. From my eariler chart this morning I expected gold to find support somewhere between 906-908, it got to 908.95, I guess thats close enough right? sure.

snatched up some hgu at 11.03 after selling at open 11.50 this morning.

silver chart looks even more bullish.

as long as gold doesnt crash suddenly and close below 900 I believe its buy on dips until mid june
hey bro what charting software do you use and what brokerage? just a td waterhouse or cibc or do you use interactive brokers or something. I'm starting to really dig this TA analysis stuff I usually invest based on fundamentals but now I'm realizing you need a little bit of both.

[SilverRex]

^

didnt I answer this question before?

anyways I use a little bit of everything

I use netania's chart station however
oil lags a bit and so I use

http://nymexdatardc.cme.com/

to check up to date oil prices

and I also trade on forex via fxtrade.oanda.com

I find they have one of the best platforms for charting currency.

of course for stock charts I just use stockcharts.com to get a good feel of what everything is doing like all the indexes relative to their moving averages and overbought.sold conditions.

anyhow back to gold/silver I expect there will be heavy resistance when silver reaches 14.60 and gold 950-960, simply because crossing both of these will instantly scream new highs, so I will suggest to take some of my profit off the table around those area and wait for a more significant pull back (possibly back to current levels)

and oil, just doesnt want to come down. then so be it, not buying unless there is a pull back. Perhaps tomorrow's payroll unemployment may do it

[Dinan]

so you think will get 950 gold iin the next few days?

[davidI]

SR, do you follow Natural Gas at all? Any thoughts on what it's doing?

[e36bmw///]

nm

[e36bmw///]

nm

[SilverRex]

I know there will be a bounce around 54.6-55

but I will try to shoot for 53s which is probablly low 6s

looking at the updated chart looks like 58s was the top and so now we have a trend channel with oil going after the bottom

however its currently testing the green uptrendline which could hold and force oil back up producting a upward ascending wedge which is bearish.

so either you can try 55.5 with tight stop or if your patient, wait for oil to dip towards 53

http://i278.photobucket.com/albums/kk118/genmaster/oil59.jpg

[max_boost]

Markets giving back some gains. I got stopped out of a few positions. Just waiting now.

What to do? Good entry point for HOU?

[djayz]

Just picked me up some more HGU at 11.00 :D

[e36bmw///]

nm

[SilverRex]

that was a quick flip off 55.50 if anyone caught that

[davidI]

WTF is up with Natural Gas!!? Not sure where the bulls are coming from...

[civic_rida]

So is now a good time to buy gold since the stress results are coming out today?

[SilverRex]

Originally posted by davidI
WTF is up with Natural Gas!!? Not sure where the bulls are coming from...

who knows but if it evers make a new low under 3 bucks I will start to go long and open a few position.

the last drop in 01 had NG plunged 82%, so far it only managed 76% from its peak

82% would put it somewhere between 2.65-2.80 area.

[civic_rida]

so rbc is down now.

[SilverRex]

man BAC touched 15 dollars today.

Dam and I remember buying at 3 dollars. wish I had the guts to go all in a few months ago lol:rofl:

[anschutz_92]

Anyone here holding MCHFX or any thoughts on it? I too need to throw something into my TFSA and forget about it for a year. I'm mostly just looking what cheaper mutuals I can snatch up.

[max_boost]

Yeah I've been in and out of BAC but didn't sell on this recent run up. I'm also holding C right now. I'm thinking any positive spin on these stress test results will send it through the roof. I HOPE.

:drama:

[Dinan]

Originally posted by SilverRex
man BAC touched 15 dollars today.

Dam and I remember buying at 3 dollars. wish I had the guts to go all in a few months ago lol:rofl:

talk about all in, look at LVS, 1.6 to over 12 in 1.5-2 months....:eek:

i got shares at 3.86, but didn't hold long enought :nut:


how does the gold chart look, still bullish? you think the stress test results might give it a boost?

[Dinan]

Ok so in the last few minutes gold jump from -.80 to close +4.5!
HGU is looking good for tomorrow :)

[civic_rida]

Banks fail stress test.

[davidI]

Originally posted by civic_rida
Banks fail stress test.

BREAKING NEWS!!!!!!!1111

Well, not really. The US gov't was slowly leaking information so the release wouldn't have a huge impact on the markets. We'll see what happens tomorrow though...

As long as oil & gas go down so I can exit my HOD / HND positions, I'm happy haha.

[SilverRex]

^

not so fast yet

BAC after hours went from -2% to up 9%

I think the media seems to have already absorb and expected the stress test result to a certain degree, props for the gov slowly leaking certain parts of the result to the point I dont think it doesnt too big of harm.

once the payroll unemployment data is out, if the market still wants to rally then it will have nothing holding it back for further upside.

frankly I also dont know how it can sustain any further, all eyes is on the US dollar index, a break belo 83 will be huge that is only time I can see it further rally the entire market

[max_boost]

davidI, yeah I'm hoping you get out of HOD so I can get into HOU. :D

BAC+9% and C+7% in after hours trading. Oh yeah, please keep going up lol :clap: