Official Short-term Investments Thread

[SilverRex]

Originally posted by Dinan
so you think silver will make new highs too...?? it closed under the trend line on the daily and just under the hourly charts too....


hahaha, i bought at 2.60 too, you only think will hit 3$ ??

well I am surprise that despite the big fall of the dollar and rise of the euro, the rally for silver and gold is relatively weak in comparison. such weakness could limit the upside potential for these two pairs.

I took my profit for silver a few hours ago when the chart was about to turn bullish, and sure enough it rose, I will wait for a higher short or a break down below 14.05 which ever comes first.

[Dinan]

i see... i was up .20 cents but now i'm back where i started

14.05 is a good support should have gotten out myself too...

[Z_Fan]

LOL I had to go out today. Sold my HOD ... all of it ... at $11.50 and was worried. But not any more LOL. Would have lost a lot of cash if I would have held it. So I'm happy. Was going to buy HNU at 2.57 this AM but that stock still sucks ass IMO. We'll see, but I can see it tanking further.

[997TT]

coincidently i sold all my silver today as well. In the short time that i've traded it, its all about entry price.

With my initial buy i had to average down just to get out.

cmon TCK ... run back to $28+

[SilverRex]

alright finally its a friday. let see what oil looks like this morning. yesterday I suggested oil would break down if it heads below 70.50 unfortunately it was held up from a previous support near 69.80, so price at the end rallied off the previous broken down trend line. but no matter I was expecting price to move back into the 73 area anyways. now that price is near our target between 73-73.50, this area will be very important, notice how it is currently just under the uptrend line intersecting near 73.50? well if 73.50 gives away, then oil would likely want to head back to near 75 or higher. otherwise this area would and should be worth a look at being a good swing pt high knowing stoch is heavily overbought.

of course the dollar index made a huge break down yesterday, thus pending how the dollar holds up, oil could also break out, but right now if all things play out the way it should, I expect oil price to more likely hold around 73 area before falling.




now for gold, because the directionless of the dollar, I only recommend playing gold repsect to their swing pts. as seen price did rally off our nearest swing pt low circled area, and now price is right up against an upper swing pt high, while the break down of the US dollar is fueling gold's early morning rise and it appears ready to break out around the 952 area, I will still use this as a swing pt high, you can play it safely be shorting it here with stop against this morning's high just about over 953. if 953 gives away then look for next swing pt high near 957s.



and finally onto the dollar index, when it broke above 78.50, I thought the sail was clear, unfortunately the break down is giving me concern this ABC larger correction may be at stake. and price is currently testing a very important up trend line. initially the index held up after touching near 77.86 which is an important weekly number. so I would suggest this is the land in the sand if 77.86 gives away, then the dollar will have quite alot of momentum trying to test 77.44 as well as breaking below it.

Cyclist suggested a turn date on sept 15 for the market and he also targets by the 15th the dollar would hit 74. so far it appears probable, but until it happens, we wont know for sure. we only require confirmation and that is to resume our corrective struture that the dollar bottom at 77.44 is intact, dollar must quickly get back above 78.50, otherwise I would hold off on any longer term bets at the moment and focus only on intraday movement or swing trades and that is dollar at 77.90 (trend line), or 77.44 (support)

[Dinan]

damn, silver just shot up! and NG tanked....

[SilverRex]

^ yes I said if silver at 14.35 doesnt hold, this it will head higher.

but now that it shot up, gold near 957, 957-961 is a critical area I would attampt to short gold at this level with stop above 961 because its a good swing pt high

[Dinan]

well it looks overbought at the moment, would it be good to short silver too?


are you going to sell hnu at the open now thats below yesterdays low?

[SilverRex]

^ im going give NG no lower than 3 dollars on the oct contract. might bail if it heads lower

[Dinan]

is just under 15$ silver a good resistance to short?

[997TT]

Dinan, i'm no silver expert but once silver broke 14.70 all bets are off.

I know last time it got to $15 that was a great entry point if i had to pick a side, i would go long with a stop.

It was different when silver was under $14.35.

futures, oil, gold, silver all up. C'mon TCK...give me that 5% day.

[SilverRex]

well after silver broke pass 14.35, it was clearly headed up so we got the pop

looking at the chart, if my count is correct, silver is onto a sub wave 3 of 5 in an ABC correction. since we are right up against a previous up trend line channel, silver should turn around here, make a bit of a pull back, shoot higher for a double top or complete its wave 5 then collasp. that is just my view

silver's drop could come sooner if price can break below 14.40 to end this EW short term bullish out look.

but with this said, the dollar has to respect the 77.86 and 77.44 support. otherwise a break down to new lows in the dollar could easily overwrite my count and force further upside movement.

[cosmok]

Are you shorting silver and gold through a forex account?

[SilverRex]

Originally posted by cosmok
Are you shorting silver and gold through a forex account?

yup shorting silver with a tight stop

[Dinan]

where is your stop SR?

[SilverRex]

probablly above 14.90,

added another position near 14.83

1st position at 14.73

gold use your stop above 961

so far oil is still within expectation, it touched 73.52 and is repecting this area.

do or die we are at a critical juncture folks

[Dinan]

^^ thanks.....


damn NG, ... well lets hope it's like you said, an intraday low and then pop's up....



maybe i should buy some HOD.... stop at 73.50 oil

[tylere]

Originally posted by Dinan
^^ thanks.....


damn NG, ... well lets hope it's like you said, an intraday low and then pop's up....



maybe i should buy some HOD.... stop at 73.50 oil

I picked HOD up at 10.68, let's hope for a breakdown today!

[Dinan]

SR, got out of HNU yet...???

[tylere]

Wow! There goes oil