Official Short-term Investments Thread [Archive] - Page 181 - Beyond.ca - Car Forums

cosmok

09-30-2009, 09:08 AM

Originally posted by cidley69
Hey Cosmok, could you help a newbie out and put some context to this:

Crude oil expectations 2.0MM build actual 2.8MM

Sure, MM represents a million; industry was expecting a 2.0MM bbl increase in stocks and there was an actual build of 2.8MM bbl. Here's the press release to better explain things

Highlights
Stocks of crude oil rose 2.8 million barrels in the Sept. 25 week to 338.4 million, a build offset by a 1.6 million draw at the WTI delivery point of Cushing, Oklahoma and a 1.6 million draw in gasoline stocks. Refineries are limiting output, operating at a mild 84.6 percent of capacity. Low output and improving demand are behind the draw in gasoline. Gasoline demand is up a solid 5.4 percent year-on-year, reflecting price declines at the pump and also, perhaps, a fundamental improvement in consumer demand. Demand for jet fuel is also improving, down only 2.9 percent year-on-year compared with double-digit declines in prior weeks. Nevertheless, distillates remain a central weakness with stocks continuing to build, up 0.3 million barrels in the week with total stocks far above normal. It will take a cold winter, and heavy demand for heating oil, to drive down distillate stocks. Oil and gasoline prices are firming slightly in reaction to today's data.

Definition
The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.

cosmok

09-30-2009, 09:40 AM

I think I'm going to flop to bull NG and oil, USD is looking weak

997TT

09-30-2009, 09:44 AM

^ i've been thinking the same.

Except everytime i think about buying HNU ... i ask myself do i really want to be in NG after all my losses.

Oil and gold are 2x etf's im comfortable with. NG ... scarred for life i think

cosmok

09-30-2009, 09:48 AM

I agree 997, I've made good money on the horizon NG ETFs but I've lost a lot more in the end. Oil and gold are much more predictable

cidley69

09-30-2009, 09:57 AM

so through a novice lense; they were expecting to have 2.0MM, but actually have 2.8MM bbls, so they have 0.8MM bbl more than they expected.

wouldn't this mean more supply, meaning less demand, and lower oil prices?

cosmok

09-30-2009, 10:03 AM

^They drew gasoline stocks, so they'll need more oil to refine and bring levels back to where they were. That and the USD index is down close to 40¢ from yesterday; the USD movement is often inverse of oil movement. Logic doesn't always apply

cidley69

09-30-2009, 10:17 AM

so oil is bullish, think it will rebound to the price it was at a couple weeks ago?

cosmok

09-30-2009, 10:24 AM

If it breaks 69.5 today and holds I think there will be some more upside, until then the trend is down

Dinan

09-30-2009, 10:57 AM

Originally posted by 997TT
Ya i did ... but for some reason i love to watch it.
lol

have also been watching pgd go up/down lately.

Same guy who recommended PGD (John Kaiser) is now saying that IEC.V is his next top play. He is big on REE and was recommending AVL.T and QUC.V back when they were penny stocks.

hahaha....always a sucker for these pump and dumps i bought IEC today.

cmon make me back my HND losses.

yeah i remember him talking about PGD... damn was close to buying....

did you buy any IEC ?? is 50 cents too much now...?

RX_EVOLV

09-30-2009, 10:59 AM

Originally posted by 997TT
^ i've been thinking the same.

Except everytime i think about buying HNU ... i ask myself do i really want to be in NG after all my losses.

Oil and gold are 2x etf's im comfortable with. NG ... scarred for life i think

:werd: :werd: same here. I just tried to play HND and it was painful... ended my 6 weeks winning streak! decided to jump in HOU for a quick flip and already made some lunch money!

I'm sticking with oil/gold!!! although i'm on the fence which way oil will go....

civic_rida

09-30-2009, 11:09 AM

Curious SR if your still holding WAMUQ and what your thoughts are.

cosmok

09-30-2009, 11:21 AM

Out of HND and into HNU for a quick afternoon rally, hopefully :banghead:

Edit: not working out so well as of yet :rofl:

Red@8

09-30-2009, 12:27 PM

Picked up a little HOD. Tight stop.

997TT

09-30-2009, 12:33 PM

Originally posted by Dinan

yeah i remember him talking about PGD... damn was close to buying....

did you buy any IEC ?? is 50 cents too much now...?

Dinan, its never too late to buy a high quality venture stock that gets recommended via a newsletter. Nothing suspicious there ... lol

Dinan

09-30-2009, 12:35 PM

Originally posted by 997TT

Dinan, its never too late to buy a high quality venture stock that gets recommended via a newsletter. Nothing suspicious there ... lol

hahaha... :nut:

when did you pick this up? before the run up?

max_boost

09-30-2009, 12:41 PM

HOU!

Will we see $72 oil?

To sell or not to sell......

997TT

09-30-2009, 12:59 PM

Originally posted by Dinan

hahaha... :nut:

when did you pick this up? before the run up?

no, i got in this morning and my cost is aruond 0.50

civic_rida

09-30-2009, 01:04 PM

congrats sam.

I sold to early but still a profit:banghead:

davidI

09-30-2009, 09:27 PM

In on BCF at $0.79. I love the volatility on this little guy.

cosmok

10-01-2009, 08:41 AM

Natural gas inventories rose 64 BCF

Summary
Working gas in storage was 3,589 Bcf as of Friday, September 25, 2009, according to EIA estimates. This represents a net increase of 64 Bcf from the previous week. Stocks were 491 Bcf higher than last year at this time and 481 Bcf above the 5-year average of 3,108 Bcf. In the East Region, stocks were 144 Bcf above the 5-year average following net injections of 38 Bcf. Stocks in the Producing Region were 266 Bcf above the 5-year average of 879 Bcf after a net injection of 19 Bcf. Stocks in the West Region were 71 Bcf above the 5-year average after a net addition of 7 Bcf. At 3,589 Bcf, total working gas is above the 5-year historical range.

http://www.eia.doe.gov/oil_gas/natural_gas/ngs/ngs.gif

Dinan

10-01-2009, 08:48 AM

^^ yeah and they were expecting 62bcf so here is the sell off! :)

HNU is getting smoked!

superboyazn

10-01-2009, 08:53 AM

The way its been, every time this happens, its like a false rally for HND holders. Looks like a good time to hop in HNU while its low.

NG seems to have problems surpassing $5.

Lets hope it really does fall to $3.60.

Red@8

10-01-2009, 08:54 AM

Its about time NG made some sort of move. I certainly cant complain that it is in my favor too!

Anyone getting HOD here? I got my eye on it.

cosmok

10-01-2009, 08:54 AM

Looks like there's supports at 4.4 and 4.11. I guess this makes up for being stopped out of WAMUQ at the low of the day

Dinan

10-01-2009, 08:58 AM

how come there isn't high and low of the day at CME group anymore??

SilverRex

10-01-2009, 08:58 AM

welp im not at work today, so im not going to post all the charts. but just oil. as I have suggest last week right before I left on holidays. when oil broke 69 it was a very significant technical breakdown. Ther fore I expected it to hit at least 65 which it did.

now price is back above 70 looking at the chart you can clearly see price has broken a trendline and now retesting the line. I expect the area in the 70 to hold and will begin another leg down towards next support at 63 oil or even lower.

http://i278.photobucket.com/albums/kk118/genmaster/oiltoday-12.jpg

Dow I expect a top is in place and should begin a slow grind towards first stop near 9300s

SilverRex

10-01-2009, 09:05 AM

Originally posted by civic_rida
Curious SR if your still holding WAMUQ and what your thoughts are.

initially I expected 25-28 to hold, clearly, its not holding and now price has touched just above 20 cents.

while the extreme bullish momentum has now completely dried up. technically I Think we are still doing just fine. it is now telling me my other scenario where 44 cent is a major wave I top is in place. retracement back to 13-20 cent area is consider healthy and normal.

to put that in understandable terms, like gold when it first hit 1000, it was a major I top and required a major correction down to the prior wave III/IV which was between 600-750, and it dropped to 681 remember?

but will uq hit as low as 13.5 cents? im not sure. but certainly it fulfill a bare min target by hitting the low 20 cent this morning.

if anyone still with me on wamuq. look at worse case scenario at 13.5 cents and best case 20 cent to be bottom. might want to scale in your position around those area

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

SilverRex

10-01-2009, 09:36 AM

interestingly the cyclist is calling for a major market drop 2nd week OCt that be around the 13th. will be one major low.

he is looking at 9200 dow initially.

he also calls for NG short until november

oil may be volatile becfause of tension in iran.

and he expects a currency crisis in november.

Housing in the states to bottom in june 2010

last gold turn date was aug 22, since then gold had a good run. next gold turn date will be in november. therefore it's logical to assume from now until november, not a good time to go long in gold at all.

Dinan

10-01-2009, 10:17 AM

anyone buying LVS ??/ got smoked in the last few days....

civic_rida

10-01-2009, 10:24 AM

What a bad day on the markets today

Vanish3d

10-01-2009, 10:37 AM

Originally posted by Dinan
anyone buying LVS ??/ got smoked in the last few days....

very tempting, but I'd like to see it in the 11-13 range before I get in. its been on a hot streak for a while, so this pull back is well overdue

Dinan

10-01-2009, 11:14 AM

^^^ yeah i'm watching it too... not sure it will get that low,, but if the market keeps on tanking you never know...

Originally posted by civic_rida
What a bad day on the markets today

lets see if this is a one day thing or not....

KleanCord

10-01-2009, 11:28 AM

Originally posted by Vanish3d

very tempting, but I'd like to see it in the 11-13 range before I get in. its been on a hot streak for a while, so this pull back is well overdue

May I suggest around $13.50 is where you want to purchase it. If it does go lower than that chances are you probably want to be out of it. That is the way I am playing it. After being burned by LVS once or twice I have come to know the stock quite well.

It looks like Fib retracements work best on it and in the past the 20EMA has given it support/resistance. But also around $13.50 there was a brief consolidation.

I think this is a safe, low risk, good reward way to play it.

Fundamentally the stock is worth nothing more than $10. But from a technical standpoint it has good action.

Dinan

10-01-2009, 11:38 AM

^^ their Macau assets are helping them

http://finance.yahoo.com/news/Sector-Snap-Analysts-apf-3084470686.html?x=0&.v=1

DJ_NAV

10-01-2009, 11:43 AM

just bought HOD! tank oil!!

skandalouz_08

10-01-2009, 12:05 PM

anyone know what's going on with LUN? Its steadily declining the past few days. Looks good to get in for a little run, but I expected the delines to stop already.

Think I found it, sold a portion of the company to a partner company.
http://cnrp.marketwire.com/client/lundin_mining/release.jsp?year=2009&actionFor=1046794&releaseSeq=0

Meback

10-01-2009, 12:13 PM

Originally posted by DJ_NAV
just bought HOD! tank oil!!

I got in earlier, and could have sold for a profit, but held on assuming that it will drop further, now i m just kicking myself.

max_boost

10-01-2009, 12:23 PM

Nat Gas strikes again! LOL

max_boost

10-01-2009, 12:24 PM

SR was right. Nat gas rolls over with the big contango and then buy HND.

RX_EVOLV

10-01-2009, 12:55 PM

the bigger question is.. are you guys gonna hold HND overnight?

skandalouz_08

10-01-2009, 12:58 PM

Not me, I sold HND this morning...too early as usual, but had to get out of it. Need the cash.

KleanCord

10-01-2009, 01:00 PM

Originally posted by Dinan
^^ their Macau assets are helping them

http://finance.yahoo.com/news/Sector-Snap-Analysts-apf-3084470686.html?x=0&.v=1

What I say is just my opinion, but from message boards I would say that those types of numbers have long been priced into the stock.

Hard to justify a casino selling at a price to sales ratio greater than 2.

Dinan

10-01-2009, 02:02 PM

wow, what a day....

max hope u got out of XIU .....

civic_rida

10-01-2009, 04:35 PM

Article on Wamuq

http://marketoracle.co.uk/Article13894.html

SilverRex

10-01-2009, 05:28 PM

Originally posted by civic_rida
Article on Wamuq

http://marketoracle.co.uk/Article13894.html

couldnt agree more, expecting a happy ending

Chandler_Racing

10-01-2009, 08:14 PM

Originally posted by SilverRex

couldnt agree more, expecting a happy ending

This guy has made some pretty bold predictions. Without having read or understood the entire picture, provide me with some direction on the issue. He asserts:

(1) Washington Mutual's share price was driven down by illegal shorts and the associated regulators failed to exercise due diligence with respect to application of trading rules.

(2) The FDIC deemed WM unfit to conduct business; however, recent OTS reports suggest that liquidity was not an issue and no going concern problems existed (I assume US has similar standards to Canada which would require a disclosure - did the auditor's require this in the financial statements)

(3) Only $16B of the suspected $200B in deposits was redeemed which provides a compelling case that liquidity concerns did not exist

(4) In any evident, WM's assets were later purchased for 1.88B by JPM when the fair market value based on conservative estimates was ~$50B.

So in conclusion, he is saying that the FDIC was in breach of their fiduciary duty to "... maximize the return on the assets of the failed bank or thrift and to minimize any loss to the insurance funds" and also that the FDIC did not performed required adjustments based on the 180 - 360 day clause in the purchase agreement that would recognize adjustments to fair market value. I guess in this case an argument could be made that the amount realized on the sale was the fair market value in a distressed market; however, I recall he said cash acquired ($4B) exceeds the purchase price. Without looking at how WM was acquired (assets versus shares) that does not seem "right."

So for us investors / speculators, that means that potential litigation could result between the FDIC / JPM which would result in the potential for a contingent gain based on the spread between the purchase price and FMV of the assets acquired? Am I off base here?

Dinan

10-02-2009, 06:34 AM

HUGE jobless numbers, looks like another few $ down today too!

SilverRex

10-02-2009, 06:36 AM

ok official first day, good to be back

lets look at oil first as I posted yesterday. the daily chart is shown that since oil broke 69 last week I mention this was significant as it is a last remaining trend line holding oil up for months. breaking this only means one thing. further down side ahead. assuming no funny games played in middle east, technically oil is ready to make new lows. the first dip to 65 was merely sub wave i and since then we had a pretty full fibo 78.6% retracement which is completely fine in the realm of EW theory because retracement on the initla first wave often retraces deeply. and we got just that. I expect any upside to be viewed as shorting opportunity and we should begin a good sub wave iii of III. if the sub wave i gave us 8 dollar drop, then that should land us some where at 63 at a bare min since wave iii cannot be lesser of wave i.

http://i278.photobucket.com/albums/kk118/genmaster/oil100209.jpg

with gold, with the general market beginning to roll over further, gold isnt producing the type of gains that it should ever since it broke 965. so a possible top at 1023 could be in place, if so we should begin to see further weakness ahead. As cyclist puts it, next turn date for gold could be in november.

http://i278.photobucket.com/albums/kk118/genmaster/gold100209.jpg

now the dollar has been going no where these days everytime it makes a move up, it came crashing back down. but we got to be near the bottom if not a bottom. to confirm this we need it to break 77.08 which it did, so now my expectation is we should finally see stronger up moves for the dollar if my count is correct that 75.9 is the bottom.

http://i278.photobucket.com/albums/kk118/genmaster/dollar100209.jpg

remember I said the DOW is near the top more than the bottom, it was obvious the ascending megaphone pattern will result in a bigger down move, the 9300 area will be tested and it wont be long until this gives away. again we may be in the stages of short on rallies

http://i278.photobucket.com/albums/kk118/genmaster/dow100209.jpg

cosmok

10-02-2009, 07:39 AM

USD looks very weak again, I don't see how there will be much upside to it with 9.8% unemployment

DJ_NAV

10-02-2009, 07:47 AM

welcome back SR... good to see you your charts and your analysis again!

Bisklimpkit

10-02-2009, 08:11 AM

So, NG has not had the sell off due to the contango that most of us were envisioning. Can anyone explain the logic behind why NG has been acting the way it has? I'm sure the answer to my question is a lot of 'bwahahahaha', but I thought I'd throw it out there and see if anyone wanted to weigh in on the issue.

e36bmw///

10-02-2009, 08:14 AM

cosmok

10-02-2009, 08:15 AM

^It started to yesterday I think but with the large downward movement in the USD it made a move into the positive with all of the other commodities.

SilverRex

10-02-2009, 08:24 AM

Originally posted by e36bmw///
Hey SR, are you adding to your position of wamuq? or letting what you already have ride?

ive already added, unless it hits 13-14 cents might consider more.

Dinan

10-02-2009, 08:56 AM

i had a bid for IEC.v at .46 but i forgot it was for that one day only... not sure if i should buy some

anyone buying it??

e36bmw///

10-02-2009, 09:20 AM

Dinan

10-02-2009, 09:20 AM

well i was looking at CVM, when it was in the 60's, but never got back in....

damn, NG really bounced !

bilal.h1

10-02-2009, 09:23 AM

today i figured it out, the only way to make money is by being dishonest. think the same way market thinks, now all data are extremely bad, yet Dow jones is recovering. thats being said Euro rallied back above 1.4600.i am glad that i was on the right side of the market, from now on thats what i am gonna do

e36bmw///

10-02-2009, 09:27 AM

civic_rida

10-02-2009, 09:31 AM

Nice to see wamuq up today

cosmok

10-02-2009, 09:37 AM

I wonder what's driving it up so much today, if something was leaked you would think volumes would be through the roof

civic_rida

10-02-2009, 09:41 AM

Its funny how some people holding wamuq shares are hoping for $24 dollars pps.
I'll be happy with $1

e36bmw///

10-02-2009, 10:26 AM

Dinan

10-02-2009, 10:38 AM

you guys got in it too???

e36bmw///

10-02-2009, 10:42 AM

cosmok

10-02-2009, 10:46 AM

Hey Dinan it looks like CME got the High/Low's fixed on their pages

cosmok

10-02-2009, 11:09 AM

Anyone shorting treasuries at these levels?

Dinan

10-02-2009, 11:35 AM

Originally posted by cosmok
Hey Dinan it looks like CME got the High/Low's fixed on their pages

yeah i just noticed that too... now you guys answer me lol, i thought it was me, i restarted my computer few times the other day lol...and i gave up after lol

cosmok

10-02-2009, 12:08 PM

Lower high and lower low on natural gas is a good sign for the bears

KleanCord

10-02-2009, 01:10 PM

Originally posted by cosmok
Anyone shorting treasuries at these levels?

I have been long treasuries for a about 6 weeks now.

Some factors to consider:
1) The contrarian would say to be long treasuries whenever you hear "shorting treasuries is a sure bet."
2) Despite "printing money" we are in a deflationary spiral and that will continue no matter what the Fed tries. My current opinion that could change if circumstances change.
3) The Japanese central bank was not able to raise interest rates significantly even up until now since 1989. I think this is a good guideline for the Fed.
4) Treasuries are trending up.
5) TIPs are not at that big of a premium to treasuries indicating the bond market is betting on deflation.

Short treasuries and buy TIPs when you hear that TIPs are going to be a bad investment and that treasuries are the best investment one can make.

Of course I could be wrong. But the market has acted very oddly today to the point that I am thinking of dismissing it entirely. Between the selloff in the USD and the 50day moving average I think this is one of those bounces that might continue with soft buying on Monday.

Dinan

10-02-2009, 01:14 PM

^ what do you use to go long or short

LVS bounced off the 50day... too bad didn't buy in like i planned too... the jobless numbers blew me off

KleanCord

10-02-2009, 01:59 PM

Originally posted by Dinan
^ what do you use to go long or short

LVS bounced off the 50day... too bad didn't buy in like i planned too... the jobless numbers blew me off

TLT is long term bonds (more volatile better interest rates)
IEF is shorter (less volatile less interest rates)

There is a whole list of US govt bond etfs. I can't recall the short bond fund. But it is another one of the 2x inverse ones.

I think if you want to park your money some place safer something like CLF.to (1-5 yr Canadian govt bonds) is a better place.

The reason I went long bonds is because I thought I would make up appreciation in the fund (which even 10% is a lot for bonds), and also appreciation because of the USD vs CDN dollars. In the meantime I would get paid a little yield and get to sit on the sidelines.

Dinan

10-02-2009, 02:16 PM

^^ thanks...

WAV is holing up really well :)

i love this stock! wish i bought more the third time around :bigpimp:

cosmok

10-04-2009, 07:38 PM

Am I seeing the NG prices correctly; the spot price is over 2x lower than the front month? This is on Bloomberg, does that seem messed up to anyone else?

Red@8

10-04-2009, 08:20 PM

^ I just looked at Bloomberg and at CME and both are showing 4.73 right now. Not sure what you are seeing.

SilverRex

10-05-2009, 06:28 AM

Ok folks its a new week let see if we can get some good plays here.

its october last week the DOW finally made some headwind headed alot lower since months to my own analysis I expect further weakness ahead.

looking at oil, while oil is in lock steps making lower lows and lower highs. it isnt crashing the way I expected it too. however this morning oil is still confined under its previous uptrend line which is now a resistance.

if you guys are short since day one from 75 or 73. I suggest to use those as your stops and hold on to shorts as long as possible because if 75 is indeed a top. then its only a matter of time until we see oil hit the 60s and even the 50s inthe coming weeks.

but if you are planning to short this morning I suggest stops to be above 71.50, if this level does not hold then obviously oil is still in a flat correction. until this level breaks I am fully favor the short on rally on this one.

http://i278.photobucket.com/albums/kk118/genmaster/oil100509.jpg

gold is also playing out similar to oil having its own down trend line limiting its own move last week, therefore I Expect this area is a good short. you may attampt to short here with stops just above mornings high above 1007. Again same situation expecting any rally in gold to be limited and is a shorting opportunity. with target at least back to the 960-970 area on initial target.

http://i278.photobucket.com/albums/kk118/genmaster/gold100509.jpg

The dollar has been quite messy of late. but the double bottom at 75.9 remains to hold, for the time being I still expect it to break thru the down trend line which was the reason for the last week's rejection and as long as 76.55 area holds. this EW count will be intact and am expecting we should break thru the down trendline above 77.2 this week and onto retest of the critical 78 area.

http://i278.photobucket.com/albums/kk118/genmaster/dollar100509.jpg

on the cyclist front, next turn date is oct 13, he expects we will see a low in the dow on oct 13 then a strong short covering rally that will produce a lower high. then its continue to drift lower until mid november.

he calls for next low in gold to be in 3rd week of november, then inflation for 2 years kicks in.

he calls for a low in the canadian dollar on 1st week of december.

US real estate low in june 2010.

he also is shorting NG until november. and advise NG could either making a higher low or a lower low but either way we have seen the top. therefore for those stock in NG short. do your best to hold out for at least one more month.

SilverRex

10-05-2009, 07:27 AM

with NG, the strong rise and price remains above 4.57 could indicate we may have a bottom in NG at 2.41

but that is not to say price wont fall. and I think we will see NG fall which lines up well with the cyclist calling for a low in november.

my bearish bias for NG remains for it to hit at least 3.6-3.8 in the coming weeks. if the 2.41 is the bottom and the recent rise is a start of a new trend. I still expect price to fall because wave II retracement often are steep. potentially we could see NG retest 3 dollars so your options if you are one of the few remaining that still have the guts to bet on NG, I would short around here until november kicks in and if price hits 3.8-4 dollar range I would take some profit and let the rest ride lower

cosmok

10-05-2009, 07:33 AM

^I did a double take when I saw the price was up another 17¢ this morning

Dinan

10-05-2009, 07:41 AM

why is the gap in the NG chart filled now? :dunno:

cosmok

10-05-2009, 07:47 AM

Originally posted by Dinan
why is the gap in the NG chart filled now? :dunno:

I think it depends where you look, this chart from oilngold shows the gap still

http://www.oilngold.com/images/stories/contributors/ong/20091005-ng-2.png

I just don't understand why the price is continuing to push higher; inventories are at record highs, consumption is way below 5 year averages and there's a huge gap between the spot and futures price.

http://tonto.eia.doe.gov/oog/info/ngw/ngnymex.gif

crxboi

10-05-2009, 08:22 AM

I'm new to the investing thing so I have a newbie question here,

I understand that whatever profits you make (in a regular investing account, not TFSA) is considered more income and is subject to tax. Does your bank send you a statement of some sort that shows how much you gained/lost when tax season comes?
or do you just put in a number yourself when doing your taxes and its up to revenue canada if they wanna audit and verify that?

Thanks in advance

civic_rida

10-05-2009, 08:23 AM

wamuq is starting to climb again maybe we will be able to pass the 44 cent mark this week.

Vanish3d

10-05-2009, 09:30 AM

Hey Dinan,

were you at bestbuy in the NE this weekend? haha
saw a car with DINAN on the back (330ci)

KleanCord

10-05-2009, 10:20 AM

Can someone help me out. I am at work and initial inspection looks like Gold is looking to breakout.

Any insight right now to what Gold is doing and prices it is at.

SilverRex

10-05-2009, 10:37 AM

Originally posted by KleanCord
Can someone help me out. I am at work and initial inspection looks like Gold is looking to breakout.

Any insight right now to what Gold is doing and prices it is at.

yes intraday it looks like it wants to move higher but medium term I think all we will see is a lower high at most. the next low in gold to reload should be in november.

KleanCord

10-05-2009, 10:40 AM

Originally posted by SilverRex

yes intraday it looks like it wants to move higher but medium term I think all we will see is a lower high at most. the next low in gold to reload should be in november.

Thanks Rex. Helpful as usual.

Dinan

10-05-2009, 10:51 AM

Originally posted by Vanish3d
Hey Dinan,

were you at bestbuy in the NE this weekend? haha
saw a car with DINAN on the back (330ci)

nah, i don't have a Dinan on my car and i'm in toronto :)

how are you guys planning on playing gold?

damn NG is on the move, yet again!

SilverRex

10-05-2009, 10:53 AM

Originally posted by KleanCord

Thanks Rex. Helpful as usual.

mind you I meant the high will be lower than 1033 but could be higher than the 1023 with the way its trying to move today.

but that just sets up a divergence imo.

KleanCord

10-05-2009, 11:12 AM

Unfortunately I added to my short too soon. I initially was short around 1028 and then added more at about 1005.

I was looking for a 960 but I have to admit I am a little surprised by Golds response when it broke 1000. Immediate buying in spite of a rising USD.

Vanish3d

10-05-2009, 11:14 AM

Originally posted by crxboi
I'm new to the investing thing so I have a newbie question here,

I understand that whatever profits you make (in a regular investing account, not TFSA) is considered more income and is subject to tax. Does your bank send you a statement of some sort that shows how much you gained/lost when tax season comes?
or do you just put in a number yourself when doing your taxes and its up to revenue canada if they wanna audit and verify that?

Thanks in advance

i would also like to know
input anyone?