Official Short-term Investments Thread

[civic_rida]

Depressing who wants to go to vegas?

[bigbadboss101]

How about Victoria?

[997TT]

anywhere but lame ass cgy is good by me.

Did some serious shopping today.
Tck.b, Hnu, osk

lets get a nice mini-rally going

[Rat Fink]

.

[DRKM]

oil just touched the bollinger band. Oil to go up tommarow? Also oil just broke the down trend.

[SilverRex]

ok Tuesday. So monday after everything nearly is quite oversold expected the DOW to rally off its most important support around 8220 and close green and it did. So now we have to see if there is momemtum to go a bit further.

looking at oil, oil while broke out of its sharp descending wedge, it did not give the bounce I was hoping for, but it did put in a near double bottom like pattern at around 63.50, so the current retracement levels which should provide resistance is now between 67-69.50 meaning I would go short if oil ever got to those area within the next day or two. While anything is possible and oil could dip lower to 62.50 it just does not feel right to short oil in the middle of no where or near a major support. Dont forget the 200 day EMA is at around 63.6 so we must wait for the right place to short. My own hunch tells me that the 4 days 10 dollar drop from 73 is quite significant in its own right so if oil was to get back to about 69 and short again, imagine another 10 dollar drop to put oil at about 58-60 that would be dream. Just because 58-60 is another huge support.

http://i278.photobucket.com/albums/kk118/genmaster/oil070709.jpg

now looking at gold, gold really did not do much yesterday after breaking down its uptrend line, but price put a floor at 921 why? because that is the up trend line that came off 865 and 913 on the daily chart. So I guess temporary it provided support. Now it is testing its 1 hour 200 EMA and previous trendlinebreak, depending how the market moves and the US dollar moves, gold may or may not be able to get pass 931.75 but if it does look for the 940s continue to be a good resistance zone with limited peak top side imo at around 953

http://i278.photobucket.com/albums/kk118/genmaster/gold070709.jpg

now the US dollar index in which everything really is based upon it these days, while I expected it to hit the 80.90 area resistance a few days ago, it achieved that, now I expect it to pull back in a healthy retracement before going higher and so far over night it has done so with a bit of clarity. why? again another Head and shoulder popped on the radar, so the break below 80.25 neckline should start this swoon down towards the two puprple support. I expect it to find a bottom some where between there. And because of this drop, I expected oil, equities, gold to move a bit higher today. If things go according to plan, then today's rally plus yersterdays should be looked as a shorting opportunity. For near term technical influences, DOW 8600, oil 69.5, gold about 960 has to hold if we want to see lower prices, much lower prices over the summer.

http://i278.photobucket.com/albums/kk118/genmaster/dollar070709.jpg

[Dinan]

How about NAT GAS ? :)

[SilverRex]

^

NG is pretty weak imo but then again we are near our 52 week low, yesterday we touched off 3.36, not sure if we bottomed yet or not. we are starting to get into a bit of an over sold condition. With NG being so under valued I would suggest limited down side 3.25 with current top side about 3.81-3.96

[997TT]

I don't know whether i should put a stop on HNU or whether i'm committed to buying more if it keeps dropping....

Natural Gas Daily Technical Outlook
ONG Focus - Technical
Written by Oil N' Gold | Tue Jul 07 09 06:23 ET
Nymex Natural Gas (NG)
Natural gas recovers mildly after diving to as low as 3.369 but after all, intraday bias remains on the downside with 3.611 minor resistance intact. Further decline is expected to be seen to 3.155 low next. Break there will confirm the bearish case that triangle consolidation from 3.155 has completed earlier at 4.138. In other words, medium term down trend is resuming. Next target will be 3.0 psychological level. On the upside, above 3.611 will turn intraday outlook neutral and bring recovery. But upside should be limited well below 4.138 resistance and bring decline resumption.

In the bigger picture, as noted before, whole down trend from 13.69 is still in progress. Such decline is treated as part of the long term consolidation pattern that started at 15.78 in 2005. Hence upon break of 3.155 low, further decline should be seen to 100% projection of 15.78 to 4.593 from 13.69 at 2.50. On the upside, however, break of 4.387 resistance will in turn argue that Natural gas has already bottomed out at 3.155 and could pave the wave for strong rebound to 38.2% retracement of 13.69 to 3.15 at 7.18 and possibly above.


HOD is at $14 ... makes my $12.68 look like chump change. Who needs money anyways:facepalm:

[Dinan]

^^^ not so good for NG!

yeah my 11.27 HOD looks pretty good about now...:facepalm:

[SilverRex]

^

that goes in line with my initial assumption many weeks ago that I would like to see 2.6 NG, the last dip a few years ago made a drop 82% from peak, so the recent top at 13.69 82% would put it about 2.50 which is the place to go long, very long.

but things dont obvious play out that way, like oil when it was in the 30s, people are calling 20s which we never got.

so we can only take the trades one at a time.

right now unless the world dives hard into a depression and make new lows in the next few months, then yes I think we have a chance to see much lower oil and NG prices. but currently I am convinced the market are making a natural pull back before advancing higher. (of course things change tomorrow but until otherwise proven)

so for now I only expect NG to trade similar to when oil first touched 35 where it made a triple bottom before doubling up. so I think the thinking has to go that any thing under 4 NG is good play and we could potentially see some sort of double or triple bottom as well around the 3-3.25 area. Again NG is getting a bit over sold, oil on the other hand while the decline continues, it doesnt have much more to go meaning, its about to hit some very big support levels 61 is the uptrendline from the 35 area, 62.50 is the first fibo retracement. and as mention this morning 63.6 is the 200 Day EMA. so I think oil just wants to touch one of those level then bounce hard and hopefully it will bring NG along back up with it

[Dinan]

^^ any plans of buying some HOU?

[SilverRex]

so far the US dollar index is not coming down as it should, watch it carefully, imo if it crosses 80.70 then we could have ourselves a resumption of a up move for the dollar.

and that would mean it will take away any chance of a bounce for the DOW and we are headed lower (breaking below 8220) for good.

Euro is coming down a break below 1.3880 would confirm it is out of its multiweek long correctional trend which will target 1.34xx

first target of US dollar index if it breaks to the upside is at about 82 which should provide a good rally point across all sector and if the timing is right that would probablly push gold to about 890-900 area for a good bounce.

[Dinan]

3.50 seems to be a heavy resistance, can't seem to hold above it....

[KRZY403]

where's a good site to track the us dollar index? is there a ticker symbol for it?

[cosmok]

Originally posted by KRZY403
where's a good site to track the us dollar index? is there a ticker symbol for it?
http://www.global-view.com/forex-trading-tools/usindex_charts.html

[Euro_Trash]

When is Galleon going to turn around? That stock has been on a downslope forever now!

[997TT]

Nat gas just took a major dive.
HNU went from 4.6ish to 4.45 as i type this.

[Euro_Trash]

Anyone diving in for more HNU?

[Nova316]

I just picked up another position at 4.45 hopefully this is the bottom but I do have enough money on the side for one more haha lets hope it doesnt come to that

[Dinan]

Originally posted by Nova316
I just picked up another position at 4.45 hopefully this is the bottom but I do have enough money on the side for one more haha lets hope it doesnt come to that

same here, got in in the morning at 4.42 and we back down to that now....:eek:

it keeps on getting rejected at 3.5, and now it just dropped like a rock!


i'll be waiting for 3.3 for the next buy!



have you guys noticed that there was lots more volume around 6$ then now at 4.5

[997TT]

Nat gas $3.38 ... man why didn't i just buy HND from teh get go.
or last friday, or yesterday or today at open ... or now??

[Dinan]

Originally posted by 997TT
Nat gas $3.38 ... man why didn't i just buy HND from teh get go.
or last friday, or yesterday or today at open ... or now??

LOL...........:eek: :nut:


HNU at 4.33 :drama:

[guessboi]

got more at 4.45. even lower now. :drama:

[civic_rida]

everything i own is in red :banghead:

[997TT]

HNu popped from 4.33 to 4.48 in seconds but now back to 4.34.

tempted to buy 5-7k and take the $750-$1000 but with my luck it'll tank to $4.20 after my order is filled.

[SilverRex]

finally the much anticipated break for DOW

[oceanblue]

what is up with questrade, im trying to search up hou/hod 's market data; but it wont even find the stock as a result?

[cosmok]

Originally posted by SilverRex
finally the much anticipated break for DOW
Looks like the USD index broke the 80.70 mark


Originally posted by oceanblue
what is up with questrade, im trying to search up hou/hod 's market data; but it wont even find the stock as a result?
If it's an American site make sure you use HOD.to or HOU.to

[Rat Fink]

.

[SilverRex]

let see if its a false break out or real

see if DOW can close below or above 8220 in the last 30 mins

[Dinan]

^^^ looks like it will close under......


so this is the 6th day NATGAS is dropping...:banghead:

[DRKM]

Looking for a buy in on hou. Bought some hod toake a quick flip but it never recovered... To nervous to hold over night. Oil keeps blowing through the fib lines and keeps going. Damn.

[Red@8]

I dont know why I even bother checking oil and NG over night. :banghead:

[SilverRex]

ok so yesterday expected a rally but didnt happen, then again what can we expect the trend is clearly bearish across all sectors. Therefore in an extreme bearish case I would suggest to stay on the side line from going swing point longs just because the tide is completely against you. Following trend is always your friend, but going counter trend there is always a possibility that it does not happen or it may not move very much which we witness first hand in the last few days.

looking at oil, while it touched lower to about 62, it is getting exhusted meaning we are close to a nearterm bottom. simply because its way over sold indicators need to reset before making another substantial run downwards imo.

retracement level now revised to between 66-69 meaning that will be the zone to short oil if oil offers a rally to that area (IF we ever get it) be patient is key when we start to see things moved its been pretty slow grinding. Now I see limited down side at 61 worse case, simply because we have alot of critical support.

the biggest one has to be the up trend line coming from 35 oil and 45 oil which is at 61 also the 100 day EMA which is slowly catching up to its other EMAs is right at about 60.28.

I completely expect oil to hold somewhere between 60-62, but over time I think we will see oil start hitting its retracement supports levels somewhere between 48-58 but I dont think it is now simply because its way over sold. If you must defy the crowd and buy oil long for a quick bounce, then at least wait until oil breaks above 62.60 to be safer

http://i278.photobucket.com/albums/kk118/genmaster/oil070809.jpg

now gold, as I mention yesterday the 931 area proved to be the high point as it was both testing the previous uptrend line which turned into resistance and also a down trend line pushing it lower and lower, now that it broke below 920, oil has all the momentum to head lower with first stop retest its previous low at 913 again over time I see gold will find its way to 891, and to throw in the idea that if 891 doesnt hold, we will most likely see gold break into the 823-850 range.

http://i278.photobucket.com/albums/kk118/genmaster/gold070809.jpg

and finally the US dollar index, when I said it crossed 80.70 that is when DOW is most likely will break its long standing support at 8220 which imo is the final hurdle to confirm we are indeed headed downward and you only think short short short. While there are many sectors in oversold terriory that could possibly bring dow back up to test 8220 again as a resistance (which could happen because oil needs to rally a bit or make a good short covering before resuming downwards, but if it doesnt, its no surprise either. first target for DOW to reach is around 7950-8000. Maybe the market just wants to get there for a rally instead of now. But the break down below 8220 should confirmed the head and shoulder that pretty much the whole world also sees now has eyes targeting 7600 as a minimum.

now back to the US dollar while breaking the 80.70 negated its own head and shoulder pattern that would bring a lower dollar. now it has momentum to finally break above 80.90 which it needs and is also the final nail in the coffin to confirm we are indeed in a strong dollar arena. I do not expect the US dollar index to collasp any more and look for the Stoch to slowly come back down to a comfortable level then it will begin another sharp rise out of 80.90 imo

yes if this is so that means oil gold all have more weakness ahead. Well you can put it that way. So we should all short oil now right? well in my world I tend to only like to short at strong resistance area because shorting near support level is suicide if there is a bounce.

http://i278.photobucket.com/albums/kk118/genmaster/dollar070809.jpg

[Dinan]

wow, the DOW should get down to 7600 minimum :eek:

how low you think it could go?


NG still looks weak on the chart?

[SilverRex]

the hui gold bug index is breaking its up trend line, now if gold continues to find its way lower like it should, then this could bring the hui back down to somewhere around 280-300 area, lets take 290 as a good average and assuming CAD exchange rate remains the same. this is 8.50 HGU boys however I do expect a bounce one more time before it finally gives in

[997TT]

Sr worth sticking something into HGD? I mean if HGU is going to fall from its current price HGD will go up relatvie right.

Fk, i'm long on OSK at $6.63. Maybe buy HGD as a hedge ...

i've joined the HND darkside. actually, i'm going to see if i can get a pop from inventory reports and then i'm selling for whatever profit i can.

[SilverRex]

^

well its not easy to go short, if you want to reduce your risk at least wait for a pop or a gold rally if it ever comes I expect gold 940-950 to hold so you could take that as cue or a place to go short

[civic_rida]

So days of 70+ oil are over?

[SilverRex]

^ well in the short term yes,

[Dinan]

HGU under 9$ would be great to hold long, rather then day trade, could have made loots more if i just held and not traded it...

[997TT]

Inventory reports must be out...i can't find them though
HND just jumped 14.05

sweet

sold at $14.00.

another order in for 13.86 ... see how many times i can pull this off. lol

[Dinan]

you bought HOD ?? wow.... you do like to gamble :D

ahhh, you said HND.... i'm seeing things :rofl:

[997TT]

HND actually ... ya i'm not gonna deny my gambling addiction.

back in HND 13.85 order filled.

putting in a sell order for $14 again. lol

i risk $XXX to make a few hundred dollars. Something is seriously wrong with this picture. lol

edit: just sold at $14. Rinse and repeat ... do this enought times and i might make up my other losses from my LT holdings.

[Vanish3d]

Originally posted by 997TT
HND actually ... ya i'm not gonna deny my gambling addiction.

back in HND 13.85 order filled.

putting in a sell order for $14 again. lol

i risk $XXX to make a few hundred dollars. Something is seriously wrong with this picture. lol

edit: just sold at $14. Rinse and repeat ... do this enought times and i might make up my other losses from my LT holdings.


damn man... you're probably dropping $40K to make $400. I could never have that kinda balls :eek:

[997TT]

Dont worry i still lose overall ...

HND 14.10...doesnt' look like my order will get filled. Risk you take i guess.


too scared to jump on HNU ... i think nat gas 3.15 is around the corner and possibly $3.

[Vanish3d]

fuck HNU, its making me sick:banghead:
i cant even average down, im stuck at 5.9x.... Not sure if it'll get back to that

[cosmok]

Go HGD and HOD :poosie:

[Dinan]

wow! huge sell off today:eek:

don't even want to log in and see my portfolio :nut:

[civic_rida]

can someone give me some hope that things will get better

[Vanish3d]

Originally posted by civic_rida
can someone give me some hope that things will get better

+1

[SilverRex]

oil is flerting with its uptrend line between 60-61

Im going to pick up some hou with stop below 60 oil, NG seems to be stablizing in near 3.30s

everything much oversold, come on oil, give me a bounce :D

[Dinan]

SR, did you buy any more HNU or HOU ?

[KleanCord]

Now that we have broken support levels on very weak volume does that work the same way as breaking resistance on weak volume?

I mean we carved through the 200 day and the 880, 875 and who knows what next and that was all on weak volume.

[Dinan]

wow, 300points down:eek:

[bigbadboss101]

Need oil and gas to bounce, then will sell and it can do whatever after that. Gonna get myself a new toy instead of leaving $ in at this time.

[Nova316]

Anyone thinking of picking some XIU up?

[Dinan]

Originally posted by Nova316
Anyone thinking of picking some XIU up?

since 7600 is minimum for the DOW, then will see the TSX under 9000, which would be a better buy....

[max_boost]

This is fucking epic fail. I hate myself. Too much emotion. Nothing is worse than staring at profits, not setting a stop and then watching it evaporate.

I had $12K+ in profits on XIU as of 3 weeks ago and even $10K+ as of last week and now it's down to $1K. As of tomorrow it could be all gone. :rofl: :facepalm: And I told myself to stay away from the 2X but just had to get into HNU.

This sucks!

With that said, buy order set for $4 HNU to average down my cost to $5.

When will this madness end? Is this wave 2? To kill those who survived the first wave? haha I better get ready to sell my car and anything of value if we get the chance to see 7500 TSX again. Consider it a chance to buy moar!!!!

[guessboi]

my average cost for HNU is 5.13 after transaction fee to breakeven.
I also have a small position in HGU still...

A couple other positions for the middle - long term.

This is the 2nd wave...

:drama:

[SilverRex]

^

Max stay calm :) I think this is an expected pull back DOW to mid 7000 then reverse to head higher

[Dinan]

so this is day SEVEN that NG is going to close in RED!!!


damn, we should see SOME, green soon ..

[bigbadboss101]

I think soon as one/some of you sell all your HNU, it will then go up. Who wants to take one for the team ?:nut:

[max_boost]

Originally posted by SilverRex
^

Max stay calm :) I think this is an expected pull back DOW to mid 7000 then reverse to head higher

haha I know. I am calm. Just wish I could have sold, locked in profits and re-buy now. :devil:

Well SR, you weren't joking about the bearish forecast <$60 oil and pullback on the markets. :eek:

[KleanCord]

I don't normally get pissed off but I am right now. Normally I understand I am the only one accountable for losses. But when I see sell offs like this on shit volume I get a bit pissed off.

I am feeling like Max where I should have locked in profits but I would have never thought we could have broken through key levels both on the markets as a whole and in some of my individual positions on the kind of volume that has happened. This strikes me as a bunch of individuals dumping at any price because of head and shoulders, 200 days, blah blah blah.

I am into technicals, but to see a positions where I was up 35% one week ago and now I am slightly negative, and yet copper has not moved at all, and there has been no volume. I just get irked. I should also add in Las Vegas Sands to that. 7.50 Pre Market straight down all day. Who the hell is buying it premarket and then selling it all day long.

Thinking of hitting up oil right now since this strikes me as drastically oversold even if the trend is still down.

[sputnik]

The real question is if we will be seeing new lows or if it is just a matter of "the ball bouncing up the stairs".

[Dinan]

^^^
Hope it's not new lows...

where do you see how much volume there is?

[Dinan]

Originally posted by KleanCord
I don't normally get pissed off but I am right now. Normally I understand I am the only one accountable for losses. But when I see sell offs like this on shit volume I get a bit pissed off.

I am feeling like Max where I should have locked in profits but I would have never thought we could have broken through key levels both on the markets as a whole and in some of my individual positions on the kind of volume that has happened. This strikes me as a bunch of individuals dumping at any price because of head and shoulders, 200 days, blah blah blah.

I am into technicals, but to see a positions where I was up 35% one week ago and now I am slightly negative, and yet copper has not moved at all, and there has been no volume. I just get irked. I should also add in Las Vegas Sands to that. 7.50 Pre Market straight down all day. Who the hell is buying it premarket and then selling it all day long.

Thinking of hitting up oil right now since this strikes me as drastically oversold even if the trend is still down.

you got LVS shares?

yaah i seen that, with high volume too....

[SilverRex]

hns target 7600

everything is bearish. chart looks pretty clear to me where its heading but yes limited down side I think is due for a good bounce

http://i278.photobucket.com/albums/kk118/genmaster/dow070809.jpg

[civic_rida]

Im an idiot for buying lvs too:banghead:

[Nova316]

Im gonna wait for below 9000 TSX to pick some XIU up, Thanks for the heads up Dinan

I have LVS
been trading them since 2.50 during some Up and downs and have gotten ~500 free shares haha :D but this spiral downwards makes me cry myself to sleep lol

[KleanCord]

Originally posted by Dinan
^^^
Hope it's not new lows...

where do you see how much volume there is?

I am looking at it on Stockcharts.com, CNBC has it and I am sure there are others. But you can also just tell sometimes. Alot of the majors are selling on below average volume.

This time of the month is usually supposed to be positive because institutional people are usually on vacation for the 4th of July and generally speaking retail investors only buy and don't sell (or short). So it usually goes up for the 3 days before and 5 days after July 4th on very weak volume. Instead we are going down on very weak volume. I wonder if mutual fund guys will get back from the weekend and put through some orders to take advantage of the step back.

[Dinan]

Originally posted by civic_rida
Im an idiot for buying lvs too:banghead:

make that one more :banghead:

i got in for some today at 6.40 ......

how how did you get in?

[KleanCord]

Originally posted by Nova316
Im gonna wait for below 9000 TSX to pick some XIU up, Thanks for the heads up Dinan

I have LVS
been trading them since 2.50 during some Up and downs and have gotten ~500 free shares haha :D but this spiral downwards makes me cry myself to sleep lol

LVS has without a doubt been my greatest mistake. I normally just cut my losses quickly but for some reason I couldn't let it go. I am down about 25% on it. It also carries all the negative technical signs. Like crashing on any news and not taking part in rallies but taking every part of pullbacks.

I still think there is too much negativity towards it and after being in Vegas I can say that it is not nearly as bad as people think it is.

It is not the cheapest stock in the world but this downward selling pressure has me worried. Another case of going broke on low volume.

But this is the 50% retracement, but I have said that before about other support levels with this thing.

[Dinan]

^^ i know how you feel man... i was so close to cutting my losses but emotions got in the way, BAD IDEAA!!!

well there opening the casino in Singapore, but it's been delayed for few months, till january or soo ....

got to remember that LVS doesn't always fallow the market.. the other day when DOW was down 150 points LVS was up ....


Originally posted by Nova316
Im gonna wait for below 9000 TSX to pick some XIU up, Thanks for the heads up Dinan

I have LVS
been trading them since 2.50 during some Up and downs and have gotten ~500 free shares haha :D but this spiral downwards makes me cry myself to sleep lol

i know that feeling... LVS is killing me too ... what price you holding at?

[Vanish3d]

Originally posted by Dinan


make that one more :banghead:

i got in for some today at 6.40 ......

how how did you get in?

if its a mistake and you got in at 6.4 you can easily get out, its at 6.48 right now. you're doing ok so far... who knows tomorrow though

[Dinan]

^^ sorry forgot to put "more" in there...


i got some at 9$ :banghead: ,

been trading in and out since it's gone south, this is the lowest i even bought since the low's in march!!

[997TT]

own LVS too at $8.28
lol

Between Mon-now i've lost the $7K i made on HOD.

Why do i bother investing? :banghead:

[Dinan]

lot of LVS guys on here.....:banghead:

just hold until the new casino opens up!!! :thumbsup:

or lets hope for some better then expected earnings! i think they should be out in the beginning of august...


i just hope i have some funds for HGU when it gets under 9$ :)

[sputnik]

LVS should be a long term hold. The stock is MASSIVELY over sold and certainly has the ability to economically be quite profitable in the future. With a business in the gambling industry it is pretty hard to consistently lose money year over year.

Day trading LVS right now is a waste of time, but I would definitely hold it for a 12-18 month period before writing it off completely.

[civic_rida]

august 4th is the day of the earnings

[Dinan]

Originally posted by civic_rida
august 4th is the day of the earnings

i'll try and hold off selling till then, if i don't see a bounce till then...



was tempted to sell my 6.40 position, but will hold for tomorrow, hope we have a bounce....

[Nova316]

Originally posted by Dinan
^^ i know how you feel man... i was so close to cutting my losses but emotions got in the way, BAD IDEAA!!!

well there opening the casino in Singapore, but it's been delayed for few months, till january or soo ....

got to remember that LVS doesn't always fallow the market.. the other day when DOW was down 150 points LVS was up ....



i know that feeling... LVS is killing me too ... what price you holding at?

Im holding 2100 @ just over 7 :(

[Dinan]

Originally posted by Nova316


Im holding 2100 @ just over 7 :(

oh man thats a good price.. don't worry!!!


i'm in over 9$ :eek:

[civic_rida]

wow everyone on bnn is calling for 50 dollar oil now.

[max_boost]

Originally posted by civic_rida
wow everyone on bnn is calling for 50 dollar oil now.

Oh shit. It better not or else it's going to be BOHICA!

B end
O ver
H ere
I t
C omes
A gain

:rofl: :(

It'll probably drag natural gas to <$3.00 :drama: :cry: :facepalm:

[DRKM]

Originally posted by max_boost


Oh shit. It better not or else it's going to be BOHICA!

B end
O ver
H ere
I t
C omes
A gain

:rofl: :(

It'll probably drag natural gas to &lt;$3.00 :drama: :cry: :facepalm:

Well oil is attempting to rally overseas at the moment. Oil over 61 dollars. NG up 1.5%. I am never sure what to think about what effect the over seas markets have on the Commody prices. The only time I saw hard movment was when those bombings were happening.

This could be the bounce off of the $60. Hopefully since I bought some HOU at the end of the day today. only 500 shares though...

This oil madness is hard on the nerves. I kind ajust want to go to Florda for two weeks and come back for the when all this shit stabalizes.

[troyl]

Originally posted by civic_rida
wow everyone on bnn is calling for 50 dollar oil now.
I like to take everything I hear from those analysts with a grain of salt. They change their opinions with the wind. Well recently atleast.

[troyl]

OIL 61.13
Nat gas 3.43
I see green cant believe my eyes! CLL got pounded yesterday might be a buying opportunity, to bad my average is around 0.93.

[Dinan]

^^^ yeah CLL is down, kinda tempted to pick some up.....





finally, NG is up... could today be a green finish, or will inventory bring this down even more:nut:

[SilverRex]

ok so yesterday all sectors hit their major support levels and quite oversold, no surprise in the late day bounce as well as opening up this morning. but caution, reason below

for oil the drop from 73 to 60 in a bout a week is impressive, but it has to rally a bit here i hope before dropping further as it has shot straight thru its 50 and 200 EMA and now the only thing holding it back is the up trend line on the daily chart along with its 100 day EMA near 61. If these level do not hold next target will begin at 58 and 55. look for oil to break that down trend line which is capped at about 61.5

It is near impossible and high risk to short here unless oil can get back to some higher resistance level. New revised levels are now between 65-68 I'll only go short if price ever achieve them. If oil does punch thru upwards, first resistance area is 63.5

http://i278.photobucket.com/albums/kk118/genmaster/oil070909.jpg

now next up gold. after gold breaking down below 920, 913 was easy target and we went thru that instantly yesterday however gold continues to make no new grounds really in both directions. since a week ago it has the most difficulties trying to get pass those red resistance trend line. it manages to get back above its 913 support which is encouraging for short term traders and has a bit of momentum if the market is to rise a bit today but look for those red lines continue to provide extreme resistance which we will should hit 891 soon imo

http://i278.photobucket.com/albums/kk118/genmaster/gold070909.jpg


now looking at the US dollar index it appears 80.90 held once again and because of that we got our bounce in the DOW late in the day, but caution even though it has came down hard and so far is trading beneath the bottom red support around 80.20 the circled STOCH looks like it is running out of steam which imo could any time turn the US dollar around. If the US dollar does not have much further downside to go then that means the upside for gold, oil and DOW could be limited. So if this plays out, prepare to take any rise in all sector brief and not long lasting.

http://i278.photobucket.com/albums/kk118/genmaster/dollar070909.jpg

finally the DOW, while longer term picture has a target towards 7600, we are very much in a down ward trend channel. the late day break away its near term down trend line offer some upside, but bias continues to be down as long as 8600 level is intact only think short. even if the down trend channel is broken to the upside above 8450 it would only delay the evitable and offer a bit of a consolidation before heading down again imo

http://i278.photobucket.com/albums/kk118/genmaster/dow070909.jpg

[SilverRex]

bought oil yesterday at 60.50, it got to 60 dam close to my exit point lol thankfully its up hopefully we will get a good bounce before everything resumes down ward

[cosmok]

^^Looks like oil only wants to continue downward

[Dinan]

lets see how the inventory numbers are for NG....


SR, you still in HOU? i'm thinking of picking up some shares..

[997TT]

Holy fawk, i needed an open like this

BNK up 9%
OSK up 3%
TCK.B up 4%
PDN up 4.7%

All purchased this week.

too bad i'm still down on OSK, just break even on BNK
TCK, PDN i'm up.

Can't beleive oil ... don't know which side of the fence to jump on.

Wanting to get back in nat gas but i'm kind of bearish on it. While the rest of beyond are bullish.

[civic_rida]

Can anyone tell me what happened to fas.
Seems to have done a reverse split

[997TT]

Nope, your just up 420% :rofl:

FAZ 10:1
FAS 5:1

http://247wallst.com/2009/07/09/etf-reverse-splits-have-arrived-more-looming-fas-faz/

[Dinan]

Originally posted by civic_rida
Can anyone tell me what happened to fas.
Seems to have done a reverse split

yeah, fas 5:1 and faz 10:1 ...

[Dinan]

i got in HOU too,



damn ... what happend, oil just dropped after i bought :eek: