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.
That makes alot more sense now, I didn't know what you were talking about at first either.
Actually, you should backpedal/apologize because you were being a total ass in your post to me...trying to throw ad hominem B.S. at me instead of addressing the points...and using things that other posters said no less. Shameful. You ought to consider your position again IMO.
I was responding to something that you had said YOURSELF here......so please don't post things like this if you are going to get your panties in a bunch when someone else brings it up....you said:
Shorting down here has gotten too obvious.
I think a turn must be coming very soon. Could be wrong, just watching for signs.
(Pailin wrote) I think you can take my exuberance at shorting as a definite 'sign' :)
Let it go and stop being bitter about being on the wrong side today...the misdirected irritation has nothing to do with me.
Oh well. I've still got a hair across my @ss when it comes to SIM anyway. Goes back a long time :)
Translation : I feel justified in acting like a dick to SIM.
Lame. And I'll call you on it as long as I am allowed to post here. Have no patience for stupid crap. FWIW, I have no beef with you, so you are all alone in your 'issues' with me.
Pailin is rarely wrong because he sits and has patience like an old snake in the grass.
Anyway he manages the trade better than most so it matters not. In the end what keeps people in the black is the stop/loss. Its the great irony.
Rico?
Yes?
(Deleted because this is hardly anybody's business)
Awesome charts! Thanks for drawing the second one, it is closer to what I was thinking about and that number seems more reasonable for an area where this could theoretically peter out. Cheers.
alright alright, simmer down gents lol.
after philly manufacturing # today fed statements about need for additional stimulus got the metals moving. Funny did not help stk mkt much.
One day does not a mkt make.
play nice girls
I knew gold stocks were cheap - I just didnt fully appreciate how cheap they really are right now compared to gold. This is a 17 yr. chart tracking a gold mining index against the price of gold.
Bought a straddle 2 days ago for $31.9 - sold today for $40 - the squeeze signal is working like a charm
just hit frigging $148
The long bond hit an all-time high today! I have been trading in and out of it all week, preparing for the Big Short. The long interest rate is at 2.81%, fer chrissakes--at the first, faintest hit of hopium, it will go right back to 3
Edit: V, you beat me to it!
A couple things about yesterday's action:
Was that the bottom? I think that might have been the bottom for now.
I don't know, I'm just trying to post some helpful information so you can decide for yourself. (Also, I like to hear myself talk -- it helps me think.)
PS: I was completely out of the market today, so I've missed most of this jump. It sure would have been nice to have caught that move, but I gotta sleep some time. I caught some of it last night and I've had a great week.
for those who want to trade something newly in an uptrend after long abuse, UNG is in play as I said one week ago. Buyers coming in on the dips.
gold and silver have impulsed up but can do anything here. It is ENTIRELY up to the thin early morning trading done by the hoods and SweatHogs and banksters. If they want a run most of the price action will come overnight and will shoot up thru next pivot at 1602. If today was bogus or needs to digest then overnight will be slow down and consolidation or a crash again. Feeling lucky? Are you? Thats what they want from you. They want you leaving them with your gambling money so they decide OVERNIGHT in THIN traffic the entire direction of the Market. In the morning you will be left with either the smouldering ruins of a trade gone bad or a lotto ticket to the fucking moon over 1600.
those are the parameters. Anybody who has 'conviction' here is a fool and a moron. You are playing in a virtual Casino with the most disgusting,degenerate sharks the world has on show. TA is extremely limited in its ability to cover real criminal action and will most often LAG.
FaceSit has its IPO tomorrow. This will stir up alot of volatility I think. In ES and in metals maybe unless they already front ran it today.
I think we could be on the verge of 08' type downturn. Vix looking bullish and the dollar is rallying 10 staight days now. Its broken out and can go easily to 85. If so we break all support and Silver goes to 22, then 20, Gold goes considerably lower.
I think this is an incredibly risky,contradictory and Algo driven hysterical market. All my positions will be day trades. I don't trust these fuckers one bit. So many signals are fake and there is tremendous danger below.
Turd making fun of the dollar about 10 days ago was the signal. That was the tell. Whenever that guy starts running down 'Pigatha' you can bet its set to rally big.
It all depends on the dollar now. All roads lead to the world's reserve currency. Period.
To me it is clear yesterday was the bottom. Volume on all gold ETF's is going to eclipse any of the high volume days down. Panic sell offs result in V shaped bottoms. All you people waiting for 15-20 silver wont get it. Like Turd says the next short covering move will be bigger than this one. You guys will still be begging for 20$ silver when it hits 35$ I guess. Not to mention 10 year yield is getting ready to break a new low at 1.7%. Negative real interest rates is what gold loves. 10 year will go to low 1% after QE gold will absolutely love that.
a very important trendline for Gold was broken at 1580 area that extends back into February. We are retesting that break now. Its not bullish, its just a bounce imo.
dollar may pause but it looks to rally to 85.
ES will crash if dollar rallies and it doesn't look bullish here just slightly oversold.
Conclusion: there are headfakes and oversold bounces everywhere but Oil could crash soon and if the dollar resumes up then its 08' stand aside time. This thing is highly,highly precarious.
My intuition of sell in May because all bad things always begin then holds fast. Should have listened more to it. Sometimes simpler is better.
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