Pailin's Trading Corner

Is that glory up or glory for shorters?

Weird disconnect btwn silver and equities. Dow will rally a few weeks, but silver? All its stocks are down. 

From what I've heard, many of those who've gone far in the financial / paper world grasp what we all do about needing a store of wealth -- and whereas we all dig on Au for that reason, a lot of traders and money managers I've spoken with are digging on the icey stones.  Their pros for doing so are that they're precious (ie, store a lot of wealth in a small item), and very very transportable.

I get all of that, it's a parallel to the $100,000 in silver is impossible, $100,000 in gold fits in a backpack idea -- my worry would be the same as yours Pailin ... diamonds are only "rare" because a market-maker made them so.  Au and Ag, on the other hand ...

@PAILIN

Good points no question. However, the Chinese have

emerged, along with the Indians, as major diamond

buyers. The prices did take a severe drop, but are now

rebounding very nicely. Diamond exploration companies

are incredibly rare compared to the gold diggers, and are

even less successful. There is a serious lack of any new mines

coming on stream, the Asians are big buyers, my conclusion

is that prices will be heading North. Successful Juniors will be

handsomely rewarded, without question, and ownership of

stones makes an interesting diversification from metals,

although that in itself becomes a whole new area of study.  

I've been tempted, but I'm cold turkey at the moment (situation as well as my sandwiches)..

JoeKa and Pailin had a word with me after I bombed out on Monday. 

I'm calming down, and stepping back, and mental trading to see if I'd get it right.

As usual after a big loss, I'll only dip in with low amounts.

After that I'll probably screw it all up again!

Seriously though, I would have shorted at 35.70 earlier down to 35.30 but only a small amount. I did that in my head, JoeKa did it for real and cashed in!

Played Eur/USD in my head and would have made a single digit profit!

Tempted to long WTI...

Doesn't look like Silver will break 36, however, at the moment, if silver isn't being shafted, that's as good as an up day.. especially in the current market.

Still think it will go down before it goes up. Not sure it will go below 32 as some people suggesting, its shown good support.

I'm still trying to learn charts etc, near term, we've had lower highs, and a few lower lows.

All IMO, of course!

Xaritas

You said

Getting a Twitter account and a client you can always leave running outside of a web browser is extremely helpful, too.

Can you expand on this.  I dont understand.  I am totally not into these social web sites.  What good would it to.  And what do you mean by getting a client outside of a web browser.  what do you mean and how would it help. 

Todays technology has pretty much run away from me.  I am still living in the old days in some ways.  I also do not have a cell phone.  probably would be good to get one for trading in case I have a problem. 

I find it very interesting that the POSX has gone from 76 to 75.55 in the last 5 hours, yet silver and gold are basically flat over the same time.  Not that long ago, such a drop would have caused significant movement in PMs, but not now... 

So we are either 1. detaching from POSX daily movements, or 2. PMs are treading water and are poised for a drop if the dollar catches a bid.   My money is on the latter as I am short silver at the moment, but would love to hear what you guys think!

Good trading, Pining 

Yes, looks like in the first two weeks of August the lower trendline bottom will hit the 138 extension of the takedown move, plus the weekly 100 MA and the lower hypothetical flag line.

yes risk is high here. last highs too far for a good short. but the reward is going to be amazing once this thing makes up its mind.