Pailin's Trading Corner

35723 posts / 0 new

Last post

April 24, 2012 - 10:01am

#22082

SilverWealth

Offline

Joined: 06/14/2011

Hat Tips: 15182

Posts: 3830

the dwarf mirrors the decline and fall

http://www.flickr.com/photos/expd/5641306916/

all eyes wait on this? The land of Jefferson and Washington?

April 24, 2012 - 10:13am

#22083

SilverWealth

Offline

Joined: 06/14/2011

Hat Tips: 15182

Posts: 3830

Kid Rico is a Trekkie

http://www.flickr.com/photos/expd/6961030002/

counting on this bunch? Locke,Hugo,even Napoleon are all spinning endlessly in their graves.

April 24, 2012 - 10:16am

#22084

SilverWealth

Offline

Joined: 06/14/2011

Hat Tips: 15182

Posts: 3830

Yo Atlee!

I got you a new golf partner, just signed him up in your foursome-

http://www.flickr.com/photos/expd/7101195833/in/photostream/

April 24, 2012 - 10:58am

#22085

Rico

Offline

Joined: 06/14/2011

Hat Tips: 5557

Posts: 1626

(No subject)

April 24, 2012 - 11:07am

#22086

Spinny

Offline

Joined: 06/14/2011

Hat Tips: 547

Posts: 229

Sold my UCO for about +1.25.

Sold my UCO for about +1.25%. Glad to be out in the green. Just don't have a goof feel for direction.

Doubled my zsl at spot 31.00. I like that we tested 31.15. Technically we should head lower from here barring anything crazy from the fed...

__________________

What is the biggest public fallacy about market behavior? That markets are supposed to make sense. ~ Richard Dennis

April 24, 2012 - 11:36am

#22087

BlackHawk

Offline

Joined: 06/15/2011

Hat Tips: 3282

Posts: 1221

CORN and SGG

While we sat shaking with nervous jitters about the Bernank speak spooking the markets, CORN price bottomed April 18 and SGG on the 20th.

Ain't skeert, but am nearly out of dry powder. 1/3 of my trading account is in "unsettled cash" that takes three days to become available due to fair trade violations I made.

Here's another great rant by Farage if you haven't seen it.

__________________

http://www.wired.com/threatlevel/2012/03/ff_nsadatacenter/all/

April 24, 2012 - 12:41pm

#22088

atlee

Offline

Joined: 06/14/2011

Hat Tips: 12262

Posts: 1431

fed heads

SW thanks we lost a member so we have an opening.

I believe this to be most accurate and is probably how I will play tomorrows game.

Been lightening up in wti and down to just 100 agq

http://www.trading.co.uk/analysis/2012/4/24/dollar-why-the-fomc-meeting-could-trigger-a-squeeze-7456?utm_source=twitterfeed&utm_medium=twitter

__________________

So when your down on your luck and you can't harmonize, find a girl with far away eyes.

April 24, 2012 - 1:08pm

#22089

SilverWealth

Offline

Joined: 06/14/2011

Hat Tips: 15182

Posts: 3830

concur

Atlee I completely concur. Too much weight now for possibility of 'disappointment.

risk/reward is poor in my limited opinion and trend is down in commodities especially metals.

if dollar squeezes upwards then OIL is down too no doubt.

if I am wrong I will re enter and chase some if need be. But May approaches. Strange things happen in the first week in May imo.

April 24, 2012 - 1:10pm

#22090

Perfidious Albion

Offline

Joined: 09/05/2011

Hat Tips: 2323

Posts: 692

Afternoon campers

Blighty small fry here.. :)

Trust this missive finds that all are well.. (fed at least)

Report from GMT ville

Sideways day at the races, USD mirroring the Euro which has a fresh head of steam with Sterling floundering in its wake.

Gold ignored the timezone trade & had a nice pop up from yesterdays lows briefly flirting with 1650 for the PM fix before settled back to 1640 for London close, now patiently awaiting you lot to get back from lunch.

Silver much the same, though I still cannot work out which is under/over valued with the GSR at 53.

WTI playing tag between 103 & 104 again with a general trend of onwards & sideways..

News: I have finished my beginners day trading course and am now going through 6 months of access to a live trading room, learning all about caution. (about time too) lots of pivots & moving averages and trading off the charts and not my heart/head. So good stuff.

Tight lines to all..

__________________

Humble newbie listening and learning.
A lemming doesn't last long these days..

April 24, 2012 - 2:34pm

#22091

atlee

Offline

Joined: 06/14/2011

Hat Tips: 12262

Posts: 1431

net dania feed probs again

net dania is having a problem with their feed in spot silver. Taking bets on whether it is silver doctors or main thread that cries millions of ozs dropped and blocked.

__________________

So when your down on your luck and you can't harmonize, find a girl with far away eyes.

April 24, 2012 - 2:59pm

#22092

BlackHawk

Offline

Joined: 06/15/2011

Hat Tips: 3282

Posts: 1221

Freakin' CORN

Price went down with the live cattle market when news of a cow dead in Cali from mad cow disease surfaced. SW lay off the dairy products for a while. I guess feeding cattle their own shite and rendered dead animals is ill-advised.

"Domestic market impact, however, over the rumor has been deeper. Prices fell $3 per hundredweight from the morning nearby contract price for live cattle at $119.90. Markets locked limit down the $3 daily limit in the final 25 minutes of trade.

Adds Farm Futures Market Analyst Arlan Suderman: "The markets were very vulnerable due to a large ownership of live cattle futures by speculative fund managers, who quickly headed to the sideline with the rumor hit."

Feedgrain prices slipped as well, with corn dropping 10 cents and soybeans sliding modestly off multi-year highs set late in the session of $14.67-1/2."

http://farmprogress.com/farmer-stockman-story-mad-cow-rumor-dumps-cattle-market-8-59245

__________________

http://www.wired.com/threatlevel/2012/03/ff_nsadatacenter/all/

April 24, 2012 - 3:19pm

#22093

SilverWealth

Offline

Joined: 06/14/2011

Hat Tips: 15182

Posts: 3830

How do you think they play the open tomorrow?

Curious minds are inquiring.

April 24, 2012 - 3:24pm Response to: re: pivots

#22094

Patton

Offline

Joined: 06/14/2011

Hat Tips: 46

Posts: 64

re pivots

pailin wrote:

When I bought today it was in stages - 1 position @ S1, then 2 positions @ S2 and 3 positions at @ S3...giving me a total of six positions at a nice low avg cost. I can do this for days on end w/o pain.

Pailin I have been thinking about the way you buy the pivots. Do you follow a similar strategy selling the R's. Sell 1 position at R1 and 2 at R2 etc.?

Sold into R1 for Gold today. Slowly developing this strategy and I like the discipline it fosters on your trades.

April 24, 2012 - 3:27pm Response to: re: pivots

#22095

Gold Nugget

Online

Joined: 06/15/2011

Hat Tips: 413

Posts: 225

THANK YOU

pailin wrote:

Sure I'd love to sell immediately back at the R levels in reverse, but that pretty much never happens. So I adjust the R targets daily based on new pivots. I toyed in the early days with selling the pivot itself but didn't like it. I only sell on R levels now. I'm not leveraged and can and will carry positions, sometimes quite heavy, as long as it takes. It always works out. Always. Or at least it has since I began months ago. If that scares you...don't do what I do!

This really helps. I am not looking for your system or details. I just want some over view so I can develop my own details.

Obviously I have one other question. if the market comes back up all the way to R3. I know it never happens but looking for the ideas. Would you then sell 1 or 3 at R1 and R2 and R3.

If I did not have anything then I would sell 1 at R1 and 3 at R3. Does that mean that I would buy 3 at S3 and hold those 3 all the way to R3. Where I would sell 6. 3 for profit on those purchased at S3 plus 3 more to go short. That does not seem correct.

Anyway I hope to keep working on this problem.

__________________

"Take every gain without showing remorse about missed profits, because an eel
may escape sooner than you think." Joseph de la Vega, 1688, on trading

April 24, 2012 - 3:28pm

#22096

Vypuero

Offline

Joined: 06/14/2011

Hat Tips: 3995

Posts: 1110

I wonder what is going to happen also

- first, with Apple earnings, and the reaction

- then, pre-FOMC and post-FOMC

- I expect a wild ride.

April 24, 2012 - 3:32pm Response to: How do you think they play the open tomorrow?

#22097

Patton

Offline

Joined: 06/14/2011

Hat Tips: 46

Posts: 64

SW Opening Prediction

SilverWealth wrote:

Curious minds are inquiring.

Metals get crushed and the pundits on CNBS blame Mad Cow Disease. What else could it be?

April 24, 2012 - 3:34pm

#22098

redwood

Offline

Joined: 08/09/2011

Hat Tips: 8152

Posts: 4425

A good indicator for the open

A good indicator for the open would be the close today, usually a good correlation. That leaves you just the last 10 minutes of the day to trade however.

Also historically, if there is a downturn, which is what I expect, though I am leaving the possibility open for a surprise (that sounds so wimpy but there it is) there is usually a ramping up before the speech. The profound disappointment follows.

April 24, 2012 - 3:37pm

#22099

Rico

Offline

Joined: 06/14/2011

Hat Tips: 5557

Posts: 1626

@Atlee, Great, useful

@Atlee,

Great, useful link!

Anybody else hear the pitter-patter of tiny feet, exiting the futures? Even I will not stay in the fray until the BS clears. Hate to lose a morning's action, but them's the breaks...