I just don't see the metals staying down here for long.
Pailin's Trading Corner
February 24, 2012 - 11:14am
#18082
Euro is rocking here
February 24, 2012 - 11:16am
#18083
funny
http://www.deadline.com/2012/02/sacha-baron-cohen-oscars-2012-banned-dic...
funny stuff and all too true. I remember when Brando said 'Jews run Hollywood' line. He was forced to retract that one within 48 hours.
February 24, 2012 - 11:17am
#18084
Big freakin round of applause
Once again I feel I need to express a massive.
To all the good people on this board.
February 24, 2012 - 11:17am
#18085
@ Inv Hand (Trading on pivots)
IMO, the first objective is to determine how much $ you wish to use. That helps with the level of buying at the s1, s2, s3... Once you determine that, the rest is simple. Keep in mind it prolly wont work that well with 20 share buys/sells if trade costs are high. I used TD Amer @ 9.99 per trade, but i never buy/sell less than 100 shares at a time = .20 cent move pays for round-trip.
As Pailin stated earlier, there will be times when you buy/sell a little higher/lower than the actual price of s? or r? - this can't be learned from a book. However, the majority of my moves have been set right on the s/r number so I just load them up 1st thing in the morning and the rest of the day is worry free.
February 24, 2012 - 11:17am
#18086
Pivots
Pailin, I've got a question. Do you enter the pivot point numbers into pending orders, at some point in the day and walk away or are you actively managing positions and watching charts constantly? Seems like pivots would take some of the obsession out of it because the numbers are hard. But as the situation is always fluid, I'm curious how you manage that.
Thanks.
February 24, 2012 - 11:18am
#18087
miners
no bounce, no upside action even with good signals to follow ES. Not good for intraday.
February 24, 2012 - 11:22am
#18088
SilverWealth wrote:
no
no bounce, no upside action even with good signals to follow ES. Not good for intraday.
I've started to nibble here, will scale in more as this corrects more.
February 24, 2012 - 11:27am
#18089
Here you go tony and
Here you go tony and invisible hand. I just got snookered and didn't even listen to my own call about the Dow. It takes a lot of time, so don't feel bad. I do agree with SIM though, I think the miners will be back, you just have to WAIT.
February 24, 2012 - 11:29am
#18090
Will add more with every percentage point drop in the miners
Buy the pullbacks because this time it is the real deal IMO. People here need to switch into BULL MARKET mode and stop being so fearful a-la final months of 2011. My 2c.
February 24, 2012 - 11:31am
#18091
good
Now we have a dip and combined with the bullish stuff on the mainpage overnight its pretty interesting. If ES finally rolls over the party is done for a while. But probably not before some good intraday bounces IMO.
Its always very interesting to read posts and see how all the excitement comes out after gold and silver have already run considerably. It just never fails. Predictions about 'breakouts' etc. at exactly the highest risk areas.
Now in Borg Time Turn II.
February 24, 2012 - 11:32am
#18092
First buy of the day: TRX at
First buy of the day: TRX at 3.97.
I expect NUGT to hit 26 again today. This is resistance going back to late Jan. and will be the thrid attempt to breach. Three taps is a good bet.
February 24, 2012 - 11:38am
#18094
http://online.wsj.com/article
http://online.wsj.com/article/SB1000142405297020396080457724292057101290...
This may be what is holding miners down. But don't worry its temporary. Next week there will be a flood of doubt again and up the pms go. This is a bull market until Europe is definitively resolved....in about a month.
February 24, 2012 - 11:38am
#18095
SW
Time to switch how you see the metals markets and start seeing the bull market IMO. We have STOPPED the correction and are starting the next run. Were you like this the entire time from $18 to $49 as the silver indicators flashed high risk and overbought for months?
February 24, 2012 - 11:40am
#18096
SilverWealth wrote:Its
Its always very interesting to read posts and see how all the excitement comes out after gold and silver have already run considerably. It just never fails. Predictions about 'breakouts' etc. at exactly the highest risk areas.
Dude you are so right. It's like trading off Soros headlines without the understanding that his trades occurred 8 weeks ago, not 10 seconds ago when the "Soros sells all gold" tweet came out.
And that's assuming his camp isn't outright lying :)
I get the feeling that nobody but Rico, SSK (via junk silver) and I were buying silver sub-$30. That makes the rest of you suckers and chasers. Or you need to speak up and correct me!
And for pete's sake :) next time stop wringing your hands and BTFD when the price is 50% off the last highest high!!
February 24, 2012 - 11:41am
#18097
Bring these miners down!
I want more blood so that I can keep scooping up shares. I can do quite a few more percentage point drops, so this should be fun.
February 24, 2012 - 11:46am
#18098
No fat chance....maybe this
No fat chance....maybe this afternoon.
February 24, 2012 - 11:51am
#18099
My humble predictions
We will get a rally that makes NO sense once the Dow properly clears 13K. Also, the metals will rally so much more than people expect in the next few months. How about $40 silver within one month from now?
How's that for bullish?
The bankers will print and do their best to shake out the remaining bondholders. They need the money in equities and commodities and higher risk assets because the goal is to support and boost real estate prices to free up all the underwater crap. You need not know more than this. Buy weakness and hold tight.
February 24, 2012 - 11:52am
#18100
Thanks for the advice. My
Thanks for the advice. My trade costs are $5 each with trade king so that helps. I'm going to do some more research on this over the weekend. 
February 24, 2012 - 11:52am
#18101
...
double post
Comments for "Pailin's Trading Corner"FREE NEWSLETTER
Keep up with the latest TF Metals Report news. Subscribe to "This Week in Turdville" today!
Feed The Turd
Hat Tips - Comments
Recent Comments
This Month's Leaderboard
| Username | Hat Tips Earned | |
|---|---|---|
 | Mr. Fix | 2336 |
 | The Watchman | 2178 |
 | ancientmoney | 2105 |
 | Pining 4 the Fjords | 1709 |
 | AlexCojones | 1684 |
 | JakeBlues | 1679 |
 | Texas Sandman | 1449 |
 | Gold Dog | 1401 |
 | Bollocks | 1294 |
| SouthernCross | 1271 |
Do you enter the pivot point numbers into pending orders, at some point in the day and walk away or are you actively managing positions and watching charts constantly? Seems like pivots would take some of the obsession out of it because the numbers are hard. But as the situation is always fluid, I'm curious how you manage that.
I update my orders every night at 7pm ET when they come out on forexpros.com. At that time I also do a review of all charts 5 min - daily/weekly/monthly to compare pivots against other support/resistance levels., trend lines, etc.
The nice thing about my platform, forex.com, is that I can enter if/then orders to achieve combinations. Like "if sell R1 x1, then buy S1 x1". Of course I have to enter actual values not letters. I also use GTC so that I only have to update the prices daily for unexecuted orders and keep moving the range up/down as price action dictates. I watch the market a lot during the day but the way the order process works, I don't have to worry about that end too much and can sleep easily at night and do other things during the day too (or watch Rockford on Netflix :)
I'm not tied to the pc. And I love the lack of emotion with this system. Trades often execute (both buying and selling) at points that I would not have emotionally been available for (selling higher and buying lower).
The situation is always fluid, but I prefer longer charts for managing my core positions which trade much less often and enjoy 80% or more of the big runs (at least that's the plan!) My primary goal with pivot account is to beat buy/hold physical gold which I benchmark it against. Because otherwise that's what I would have done with the funds in the account. The risks/reward being I'm trading the heck out of silver (highly volatile) and I'm in paper (or e-digits actually) not phyzz. Consider all the numbers on the screen as "MIA" at any time per MF Global until I sweep to my bank, withdraw and buy that phyzz (on a technical chart dip). Which I do every time I hit 10% ROI. That's happened twice already this year. Soon I'll be playing with their money :)
__________________
I never buy at the bottom and I always sell too soon. -Baron Rothschild
Man is a credulous animal, and must believe something; in the absence of good grounds for belief, he will be satisfied with bad ones. -Bertrand Russell