Pailin's Trading Corner

Gold has broken the terrible downtrend line of the last 10-20  days finally on good volume.The next important pivot is 1602-03. Once that is taken out a rally continues and is confirmed to me.

will be buying wave pullbacks now for the move on 1600 which should happen over next days imo. Many,many days of selling amount to sharp reactions which then turn into sharp rallies. 1564 pivot blasted thru is bullish. Shorting parties of  CrackHeads,Somalian Rebels,and Chechen bombers continue to pile in looking for Gold 1300. This is the necessary fuel for the rally to exceed 1600 and begin to break free and run.

Always and ever its when the mangled corpses are piled highest on the field that the battle then turns as Rothschildean Algos reverse and go long. Without fail this is the law of the finance jungle. Granny will be grabbing a vine and holding on. All good traitors must sell the bottom or avoid possible doomsday implosion. This then requires and demands that they must be ready to reverse their position and do a Steve McQueen 'Bullit' 180' fish tail that points back up. This is the inherent paradox in trading.

as anticipated SI playing a little catch up now.

Just an FYI so far I have yet to lose money on my straddles.  The profits are not huge and I have not always maximized them, but with the squeeze signal (bollingers inside keltners) and a price near the 21 EMA you almost always get a big move one way or the other soon.  You make money on one option and lose some on the other, but you make more than you lose.  Seems to be a good system and so far, my only consistent winner.

I just did this on Google and it is already in the money.  I have only 2 that are not yet playing out and could be losers, out of more than 12.

thanks Rabitt for all that, appreciate the effort and all the good charting, have no idea how pitchforks are worked or drawn but right now there is one big one stuck in the hind end of Somalian REbel,Crackheaded metals shorters.

SI impulsed at 28.15 and is on buy the dip imo but only very carefully.

Same for GC which impulsed at 1564. Congrats to Groom of the Stool goldbugs who worked under the royal hole for the last two weeks and finally managed a long profit. Thats a game caked with mud,fece and Hell's foul odor. No thank you. Now that impulses are in on some short term charts there is the possiblity of a rally. 1602 looms large. Will it be Cemetery Ridge or just the 2nd stage booster ejection in a blast into Space? No one can tell, not even your Mother. We await the impulses.

No, that is a fork and hardly represents the steepness of the uptrend channel...try a line with more than two hits and that hits the bottoms of many of the pullbacks...try using the second bar instead of the first for your starting point....the line is higher than 1563...

This?  Looks about 1635 to get back above that line.

http://www.screencast.com/users/RandyTabit/folders/Gold/media/66039b08-6511-4266-9639-7b8d95ec929e

It was me who said margin money is not my money, but I am dumbfounded by the misunderstanding of this.  Is not clear that what I meant by it is that it is not my money to lose, thereby warranting extreme caution?  Geesh.

Time to backpedal...and fast amigo :). Let me just say apology accepted in advance....

No problem Pailin, it's been a tough week.

......don't let the facts get in the way