Missed S2 buying by 1/10 of a cent. Sucks! Sure would like another quick smack to grab it...
And hey while we're making early Christmas lists...how about S3 too?
:)
I hear you on the S3
Did you miss S2 because you include (cover) the pip spread in your bid?
Wanna tweak? ;)
Yes, ultra conservative over here because often silver weakness = great silver weakness :)
No tweak. Sticking with the system.
I don't know how many of the folks giving pivots a trial are aware you include the trade cost in setting your purchase points.
Days like this reinforcing that you have a high level of discipline is worth a word or two.
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I missed S1 because I trade AGQ during NYSE hours. Took that to the S2 buy.
@SW,
Can you explain how you get a "target" of 28.80? The reason I ask is that you often post these relatively extreme sub-30 numbers, just about every time there is a down day. Then, silver just resumes its ordinary range-bound trading. What is the time frame in which silver is supposed to reach these targets? I don't get it--please explain.
+1
I'd love to learn.
Bounce here, bounce there. Impulse this, impulse that. Targets, possibilities, mental patients?????
Quite frankly it makes no sense whatsoever. For the ammount of time many of us spend reading your posts maybe you could enlighten us as to how you come up with all this. Otherwise to the vast majority of us it is wasted time day after day reading some of your posts.
I am very interested about your impulses and how you get those targets...
Strange to see Silver base out here so "flat" around the 30.50-ish zone during Comex hours. No real attempt up, No real attempt down..............yet.
Earnings call should be no later than May 11 but doesn't appear to have been officially scheduled yet. Odd how various dates get reported, isn't it? Not just for LNG. I'm anxiously waiting for news on VTG and Yahoo has been rolling their date back a day at a time since originally stating April 30. Soooo helpful
LNG has earnings listed at Sink or Swim as today but of course these dates change which is part of the game and I cannot say for sure.
The pivots on a longer term Silver chart are. 35.75 last significant high to 31.80 which is A-B leg down.
B-C corrective upwave is to 33.35. Then midway pt. down on last leg which it violated today is 30.95. The violation clears the way lower and indicates that the C-D leg down to the target which is same length as the A-B leg is 28.80.
hope this helps or clarifies. The reason wave counts get invalidated or change depends on which time frame. This is a 60 minute. Shorter time frame will be different but longer time frame has more power especially in a downtrend. If the midpt. of the last wave is taken out it indicates more selling pressure to the target.
LNG Earnings also listed as 'unconfirmed' on May 3 after close at earnings whispers so ....
I don't understand this kind of deception. See this frequently in company reports.
Out of 3/4 of position at 1396.50 ES. It has hit its midpt. area in final short wave up off bottom.
Could go higher but it overextended on down side to 1390 so I am not taking chances.
Many thanks. Waves are something I have not studied and are frankly over my head. My personal style is a very simple approach to the markets as you've probably figured out from my charts.
I sold my gold short for about +1.25%. It could be back at 1670 just as fast as it could be at 1630. I am not confident where the dollar is, more that likely it heads down to try a test of trendline. Either way a lot of near term uncertainty, I booked profits. Number on Friday will be big as usual.
On a side note, I have typically always traded AGQ or zsl. I saw some one trading uslv and decided to give DGLD a shot. Do not trade that thing it has no liquidity. Price does not change. Just heads up....
Spinny the 3 wave stuff is actually relatively simple but tedious. And as I have learned from Ackerman who is himself arrogant and barely tolerable at times, it is questionable at times where you set the pts so I just try and work off obvious spike highs and lows when I see them in single bars.
what you do is more difficult. And I have no charting that allows for forking.
Trading with the trend requires discipline and much patience and that is more difficult than the rest and more admirable.
Lots of bugs have climbed thru the woodwork to call the bottom now in metals. But the trend is still down in Silver imo and in GDX. Its the emotion that can kill everytime.
Now what is up with LNG and when is the earnings report? Anybody?
I saw that, LNG seems to have a lot of gaps. I'm not really sure how to play gaps, only thing I know is gap up is bullish and gap down is bearish, and I'm not 100% sure that is correct, but for some reason I think it, must have read it somewhere or something. Has a gap down today from 18 to 17.85.
I think dollar has little more room to climb, seems to be trying to break up now, but I bought a shitload of euros this morning that I'm still holding so I'm not really putting my money where my mouth is.
On Wed, May 2, 2012 at 12:46 PM, Cheniere Energy - Investor Relations <info@cheniere.com> wrote:
Earnings will be released by weeks end.
We do not currently host earnings calls.
Christina Cavarretta Burke
Cheniere Energy, Inc., Investor Relations
christina.burke@cheniere.com
(713) 375-5104
I've previously stated my position as regards LNG but to be more specific my gtc orders are bid 14 ask 22. That's my story and I'm sticking to it. GLTA
thanks Mr Natural.
that kind of crap is pulled on the time. Creates enormous churn for the brokerage business. Should be horse-whipped with a horse whip.
Lng is a good buy here until I hear about its earnings date then I trim position.
Lng is almost 7% off its lows of this morning form its highs near 19. It likes to do this. It will trade up 7% and crash too. SSK was alert to it.
I will buy more at 17.20 area should it go down there but I will not roll the roulette wheel into an earnings thing which they could spring at who knows when.
High beta stock is the theme. In an uptrend. Who the fuck knows?
Like I said earlier, Wednesday has been the big down-day for gold in 2012, while Thursday has been the big up-day.
Also, Wednesday has a history of a good afternoon/evening bounce.
In other words, I don't think that now is a good time to be bearish.
These are all just based on averages, so no guarantees, but the pattern is very strong for 2012.
I have not looked at the advantage of going long Wednesday afternoon versus Thursday morning. I always switch to shorts overnight. But the Thursday overnight short has only been only a small profit maker for 2012. If I had to guess, I would say the better risk-reward lies with Wed afternoon.
I totally agree.
Market is setting up for high volatility Thursday as usual. Buying on weakness has decent probability reward IMO.
What the heck is going on with some of these natty gas outfits? CHK, HUSA - something really stinks here. I have owned both but luckily was not holding either for the recent declines. The fish rots from the head, doesn't it? LNG is another matter entirely.
SW, I must be missing something... don't really see any gaps that have not filled on LNG chart but I mostly look at daily.
gap on 13th and gap on the 11th are unfilled
A lot of work must go into arranging a lethargic day like today.
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Yes, ultra conservative over here because often silver weakness = great silver weakness :)
No tweak. Sticking with the system.
__________________
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