Anybody want to stand in front of the Fed minutes, or has the lesson been learned?
Pailin's Trading Corner
May 16, 2012 - 7:40am
#23222
Anybody want to stand in
May 16, 2012 - 7:53am
#23223
Es muy tranquilo aqui
Ah SDS it might be a zero sum game but at heart one feels we are mostly just a bunch of fluffsters just trying to help each other along as best we can whilst projecting an aura of magnanimous cool. All these chest beating characters that come and go, they just don't seem to get into the PTC groove consequently they strut their stuff, don't get much of a reaction then meander on looking for more contentious pastures..
May 16, 2012 - 8:18am
#23224
true that
Ah SDS it might be a zero sum game but at heart one feels we are mostly just a bunch of fluffsters just trying to help each other along as best we can whilst projecting an aura of magnanimous cool. All these chest beating characters that come and go, they just don't seem to get into the PTC groove consequently they strut their stuff, don't get much of a reaction then meander on looking for more contentious pastures..
you sound like an old friend of mine, Ra
May 16, 2012 - 8:42am
#23225
Celestial Cow
If no one else wants to change their avatar to Celestial Cow, I call dibs.
May 16, 2012 - 9:10am
#23226
thanks atlee
sorry it is redler and here is the afternoon.
red dog talks gold again this am
http://www.t3live.com/videos.html?view=combo&id=2854fb39413dcb
nice resource thanks for it. I wondered if Brittany Umar lobbed the questions every morning but apparently they rotate Jill, Lindsay, and Taylor too.. interesting.
May 16, 2012 - 9:26am
#23227
FOMC
http://www.cnhedge.com/thread-4528-1-1.html
They expect more easing....
May 16, 2012 - 9:59am
#23228
When are FOMC minutes being
When are FOMC minutes being released?
May 16, 2012 - 10:03am
#23229
2:00pm
2:00pm
May 16, 2012 - 10:03am
#23230
comment
most of easy trades are overnight as often is the case. Now shorts getting blasted out on news blurbs.
Wait and watch to see if resetting shorts is right or if impulses up are strong enough.
Funny if the shakeout yesterday is the bottom, cannot tell until see the impulses on this move.
May 16, 2012 - 10:21am
#23231
yes
if the Gnome farts sweet than we can be in for a reversal day and perception change. All bets are off until that.
Watching BAC and JPM. If the heroin pusher decides to give out free drugs and samplers again then we will move into an upswing. Its all so childish and so ridiculously unfree market that its living in an alternate reality.
Watching AAPL for signs of life. Any buying there and its a signal too imo.
May 16, 2012 - 10:37am
#23233
FOMC
I doubt that they will come out and say "Ok, we give, QE3 incoming!" Anything short of that will be bearish for metals, or at least not bullish (and in this world, that's bearish).
I would short, but this selloff has been oversold IMO. Over $2.00 in silver since last Friday. At the same time, this nice $0.50 rally in the past our might be enough to place in a fresh short to capture that. Momentum is on the short side, and if FOMC doesn't deliver the goods, then we can expect silver to get slapped again.
May 16, 2012 - 10:56am
#23234
BAC
BAC the crooked turd that it is is selling down again into its gap up. Dimon is following behind in JPM with his dustbin.
May 16, 2012 - 11:09am
#23235
And Silver falls like a Rock
And Silver falls like a Rock for 40 cents so far.
Still have yet to see a terrible Waterfall over the past month. When will it come? Might that be a sign of a polish off to the downside if/when the dust settles after one? Just thinking about what's occurred over the past few years.
May 16, 2012 - 11:16am
#23236
shorting
Shorting down here has gotten too obvious.
I think a turn must be coming very soon. Could be wrong, just watching for signs.
If GDX takes out 41 and then 41.25 that is enough of a sign for me.
and I am usually a good marker for lows since I tend to short them there and frequently too late.
May 16, 2012 - 11:18am
#23237
tallydynasty wrote:
And
And Silver falls like a Rock for 40 cents so far.
Still have yet to see a terrible Waterfall over the past month. When will it come?
I think that's what we'll get if 26 is breached. The only question beyond that is will it be the last or only the first in a string of several over the next few months until GeithnerBernanke print for Obama??
Enjoying trip back down so far :)
I think I'm ready to build a short line here but with stop/loss in place at all times. New plan...cover half at S1 and target S2 for second half with s/l at S1 and reloads at Pivot. We'll see how it goes. All subject to reconsideration if/when R1 is hit.
May 16, 2012 - 11:20am
#23238
SilverWealth wrote:
Shorting
Shorting down here has gotten too obvious.
I think a turn must be coming very soon. Could be wrong, just watching for signs.
I think you can take my exuberance at shorting as a definite 'sign' :)
May 16, 2012 - 11:39am
#23239
yes
yes I think that's a tell.
GDX tracks to 38 and SLW to 18. 50 and GDXJ to 17 and then 14 BUT, .... all that immediately is negated if we suddenly see large bounce impulse waves in the miners. They are capable of bouncing 50% quickly and many have been shaken out already at the disgusting lows of yesterday including my best tail gunner, the infamous and immortal SSK.
the system changes immediately and resets if you see impulse up waves that take out important pivots above. That is why it is not easy to use and why constant vigilance with careful stop losses is necessary. We could get another selling wave down or a tremendous bounce today. I have not figured out how to reset shorts in the system following bounces, this element frustrates me and I may need to take the long course if I continue to trade.
May 16, 2012 - 11:50am
#23240
Memories of '09 Edition:
Memories of '09 Edition: SLW hit 2.5, FCX hit 8, POT hit 16, and on and on.
The scary part is that the SPX at 666 wasn't even historically a bargain. 400 would've been more like it, and we never got there.
Moral: keep some powder dry...
May 16, 2012 - 12:21pm
#23241
BAH
May want to check this out if not messing around with metals. Has made pretty large drop last two weeks, not sure why, but is bouncing good. Support around 15.30, next resistance around 15.60 but I think it'll shoot through that and get further resistance around 15.90. Disclosure, I own more of this stock than all my other stocks combined, just not allowed to sell it yet, but if I didn't, I'd be buying.
Edit: This is testing support now, at 15.28, if holds may be good entry point.
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Nice day so far. Covered my short early, not ballsy (aka stupid) enough to flip it to long also, but just got my short back on at Pivot. Even ran through to a better price - 27.968. Now we see if it hits R1 on euphoria or heads back down hard like every FOMC thingie since Leap Day. Too early for CB juice imo.
Either way, fun to watch :)
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