http://stockcharts.com/members/analysis/20120629-1.html
this targets a corrective wave move to 1400 ES and shows key simple levels to watch for Gold and Oil. Looks like a risk/on move now in play for a while is possible.
Pailin's Trading Corner
June 29, 2012 - 2:46pm
#24903
a basic overview
June 29, 2012 - 4:16pm
#24904
I'm staying long over the
I'm staying long over the weekend. Maybe even add more if it drops at all before the Globex close.
I'm expecting a pop on the market open. Not sure about Sunday night / Monday morning. I'll probably sell some or all soon after Globex open -- maybe immediately at the open.
But they should be having a EU love fest on TV over the weekend.
That's what I'm hoping and betting, anyway.
June 29, 2012 - 5:51pm
#24905
BlackHawk wrote:
A Main
A Main Streeter has named us Pailin's Mob. I kinda like it.
That is funny. I like it too.
June 29, 2012 - 9:01pm
#24906
@Pete
You like to "curve fit" your forks, not at all what the masters did or advised, as I've read them. Without a firmer set of rules to draw by, how can you trust what you see? What happens to trend determination/forecasting?
I know that things "evolve", and I may be an older fogey in this regard.
But other tools besides the ml and h are available from these same masters of chart geometry.
OK I see what you mean now, yes I do "curve fit" some of my forks, I use modified schiff sometimes, I was assuming this was acceptable. I don't know the answers to your questions, I've only been making forks for a few months, I'll take a stab at answering them Monday. Please criticize anytime you see something that may not be correct, thanks.
June 30, 2012 - 4:26am
#24907
@Pete
Pete, can you show me a chart where I’m curve fitting, I don’t want to be doing that, that’s the worst thing you can do, defeats the whole purpose of the fork. I’m assuming by curve fitting you mean choosing pivots that aren’t valid to make them fit the price action better. I’m not doing this that I know of, some are questionable, like the two examples I posted below, is that what you’re referring to or am I doing something else?
Who are masters of chart geometry? I’m planning on learning other tools on chart geometry, I need to master pitch forks first though, I’ve ordered Integrated Pitchfork Analysis: Basic to Intermediate Level, should get it soon, I may already have it, my town doesn’t have mail boxes for some reason and I haven’t been to post office past few days.
June 30, 2012 - 8:09am
#24908
Here's my weekend reading
Here's my weekend reading contribution:
Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited. -- George Soros
I don't know why, but that quote just jumped off the page at me. I have always considered Soros to be a brilliant sociopath (which I still do). However, that quote got me thinking, and I started reading his work last night. In short, I was blown away. He is an extremely complex and erudite thinker, and all here should try to familiarize themselves with his ideas. He is a modern Machiavelli.
From the sublime to the ridiculous: Pain Street has gone full retard. It must now rank as one of the premier kook sites on the 'net.
June 30, 2012 - 11:35am
#24909
The opposite of
Erudite may be, eh..Turdite
June 30, 2012 - 12:16pm
#24910
Silver LT daily 6/29
[IMG]http://i45.tinypic.com/f1iq2c.png[/IMG] --An example of combining the course methods.
Andrews discovered that when price turns "exactly" at the ml, that ml becomes a reliable center line for Action/Reaction methods, which constitutes a different class of lines from trendlines and the median line set.
No, price didn't quite reach that RL, but it helps define a high energy zone in conjunction with other course lines.
(Andrews taught there were three major classes of lines/approaches to market geometry. The AR method was least popular; the fork the most popular.)
I find the snap back reversal pattern from Thursday's low very convincing of a change in trend. (This pattern of bars is not Andrews, but R. Miner's [or at least published by him].) The bears had a chance to crash the price on Thursday, but it didn't happen. Price reached the minor pivot 0-y line on Friday and fell back a bit. I'd say everyone now has their eye on that 0-y trendline, and with good reason. Don't be surprised by a gap over that line. This whole pattern is potentially explosive. Talk about coiled energy!
It's quite something that Sinclair picked out June 28 months ago based on the SWIFT development.
Toby Connor of goldscents.com has an interesting take on a 3 yr cycle that he says is confirmed.
When I did my ML work on weekly DX, I found that the recent weekly peaks have been falling away from the governing ML on the monthly chart (actually, there are two of them with the same slope). It's a classic long term Hagopian structure that lends credence to what Connor is saying. The daily DX/Friday's action/ml zoom down looks bearish to me, and confirmatory of a turn. The last weeks' highs are touching the new possible monthly ML sloping down.
June 30, 2012 - 1:39pm
#24911
I have read a little of
I have read a little of Soros. Initially began his academic career in philosophy and soon discovered he did not have such a mind. However much influenced by Karl Popper under whom he studied at LSE. The concept of fallibilism. Origin - Latin meaning, liable to err.
Therefore empirical knowledge cannot ultimately be verified and men's ideas must be considered wrong/incomplete/indeterminate.
How's that for w/e reading? 
Agree a brilliant mind but one has to ask for what end. It's the only question that matters.
June 30, 2012 - 2:49pm
#24912
Gold daily 6/29
[IMG]http://i48.tinypic.com/2q9mohv.png[/IMG]
What I didn't see before. Looks like further sideways chop unless Euro agreement overtly falls apart. High drama.
June 30, 2012 - 4:55pm
#24913
Titus Andronicus
A Main Streeter has named us Pailin's Mob. I kinda like it.
That is funny. I like it too.
Pailin is the Ring Leader
I will volunteer to be The Enforcer.
hahaha.
June 30, 2012 - 9:36pm
#24914
the trend whose premise is
the trend whose premise is false?
interest rates will continue to fall because the fed/tres can buy their own debt forever...
June 30, 2012 - 11:03pm
#24915
False premises
The euro will fail because there is no fiscal union.
July 1, 2012 - 12:22am
#24916
Gold Nugget wrote:
Pailin is
Pailin is the Ring Leader
I will volunteer to be The Enforcer.
Yea, and SilverWealth is the wild gun who's constantly mouthing off and starting gang wars with his hilarious irreverence.
July 1, 2012 - 4:18am
#24917
Friday Icarus Day.
viva PTC
Friday fat returns, I hope this trend can continue as I was finding the chop really hard to trade successfully.
Be a result to see gold hit 1650 and silver back over 31 before the wax melts.
GLTTM
na.jpg
Daedalus gave Icarus his wings
July 1, 2012 - 4:36am
#24918
Yeah bro
It's been a bit like this lately
Bring on the clear direction I say.
All this image needs is a kitty strolling across the foreground...
July 1, 2012 - 9:51am
#24919
Greetings fellow silver
Greetings fellow silver traitors, I mean traders, yes, this mob is now on peoples radar. Rumour has it that you will all be rounded up and shot at dawn should silver fall to less than $20 :)
Now some thoughts of mine since I appear to have gravitated towards the mob as one of the foot soldiers you understand. Firstly, I am glad to see that I was correct about seeing some kind of reversal in the prices and I know that you have suggested that thie will only last until perhaps tomorrow but I am not sure. If you read into what is being proposed then it's a below radar form of bank interventionism/public plunder. I think it's possible that this may push the metals towards $29, maybe even $30. i bought in at $28.60 and have been underwater for a wee while now so it's of course in my interests but I do think there is merit to suggest it has a good chance of occurring.
On the downside though, despite me really having no understanding of the mechanics of the elliott wave, I did read from an article that was posted elsewhere a few days ago that silver cannot break below $26 because if it does, then the whole wave collapses. Step forward wild gun and martin armstrong. I have been reading a lot of the latters work, and listening to a lot of his interviews. He makes a lot of sense, extremely reasoned and rational, not the "my source told me this, my source told me that". Quite frankly I am getting sick of the undisclosed sources. I recall how lindsay williams was telling all the listeners on Alex Jones show to buy gold and buy silver because my god folks is going to rocket next year (2012) and don't worry about this year it will rise another 25%. STUPIDLY when I hear something alarmist at times which appears to come from someone with a healthy track record I believe it before considering the why. When it clicked, when the lights came on,.....Williams .....Alex Jones........buy silver and gold folks oh and look you can do that from midas rip off resources lucky for you guys that my network is run by the owner of midas we can get you great deal of bs coins.
I also read Pailin talking about how a suitcase nuke or something equally as truly horrifying would change the entire apparatus of the economy and (I am assuming that you don't honestly believe in 2 bit terrorists getting hold of such things) that you really consider that the ruling class are that brazenly sociopathic that they would instigate that kind of move?. I don't know about that, it seems better to keep people caught in the horrifying idea of it rather than to actually execute. Anyways on the issue of turning points, the slightly more mundane turning point spoken about by everyones fav guru Sinclair is of course the end of the SWIFT system, now in reality, what impact do you see this having in the short term?.
Also, I know that Rico dismissed the COT as being BS :) but considering that Turd follows the progress of the shorts and longs religiously, what credence do you think we can give to the cartel adopting a much more bullish position?. Personally with the huge amount of buying that the central banks engaged in last year with gold, surely this gives them tremendous opportunity to drop the price to the levels suggested by Faber of $1000 and if that occurs, oh boy, maybe $15 or $14 silver is not such a far fetched idea.
July 1, 2012 - 10:36am
#24920
Read Krasting's Euro
Read Krasting's Euro devaluation piece on ZH. The theory has a great deal of merit, as it might turn out to be the least costly option for all parties, politically as well as fiscally.
The trade? I bought my first tranche on Fri, and will continue to scale into ZSL on any further weakness. If SI even gets to within hailing distance of 22 (let alone lower), this will be phat...
July 1, 2012 - 1:05pm
#24921
Maguire feedback
reposted from Main by your devoted gun maul..
Reply to: The Army Advances
Army by
Yes, it is a wonderful idea but don't waste your money because it doesn't work. I was a big supporter of this program and participated. The results are not even close to what they say they are. The fills are way off 1.50 - 2.50. Out of ten trades they make maybe Two. Every time your stopped, because the fills are off by so much, it cost you over 100 bucks or more with commission plus exchange fees. This they don't tell you. The only person that makes money is your broker. 500 dollars a month for this service is a rip off. I would say at best this service is worth maybe 50 dollars a month! Again the service is chock full of information which is worth something. As far as the trades go NG. I don't mean to insult anyone but this is the way I see it.
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