Silver,
I think we bounce. Friday going into the close on a game-changing week with COMEX gold closing higher -- you follow the trend. If this is the big run up we've all been waiting on, the dip will be bought.
Pailin's Trading Corner
December 2, 2011 - 3:25pm
#11822
Silver,
I think we bounce.
December 2, 2011 - 3:37pm
#11823
Aye! War Face!
This is me war face
December 2, 2011 - 3:39pm
#11824
SSK wrote:
Silver,
I think we
Silver,
I think we bounce. Friday going into the close on a game-changing week with COMEX gold closing higher -- you follow the trend. If this is the big run up we've all been waiting on, the dip will be bought.
Battle is on for the 50DMA. Got a comex close over which is nice, but would love to see a globex close over it as well. That would give us a close over it on a weekly basis which would be nice.
December 2, 2011 - 3:40pm
#11825
Granny
Granny will watch the close and perhaps hedge with SDS if it is weak. She doesn't like doing it but there are several large gaps below for Spy and the runup was fast. This does not mean she sells anything bought today. The play may be both ways with hedges into a bounce for Tuesday. Only buying in small increments, larger buys reserved for Monday if necessary. The play is to respond to Mother Market the great breasted milk maid and provider.
The weekend is when the news vampires emerge from their crypts to wreak havoc. Its a crapshoot as to what story they tell and how loud they chose to be.
December 2, 2011 - 3:43pm
#11826
Hoping for a boring close but
Hoping for a boring close but got some UVXY just in case there is a flush. I feel like Obi-Wan in Star Wars III opening scene: "I have a bad feeling about this."
Lately when I get these bad feelings it usually means a choppy close and no fireworks. We shall see.
December 2, 2011 - 3:46pm
#11827
Ann Barnhart-ex brokerage firm owner
On Financial Sense news hour ,,,,,,excellent interview but so hoping it isnt true,but afraid it is.
Would post here but do not know how,,,sorry
December 2, 2011 - 3:52pm
#11828
Kitty
that battle face is frickin classic. Will store that one.
Trading is much harder in the later day. Borg platoons are out running stops,jamming price and have Algo defined programs from the morning parameters. Mostly 80+ % Borg hunter killers now.
As erratic and manipulated as weekend news propaganda has been of late, cautious investors will want to take gains now and not sleep over the weekend only to be waylaid by marauding futures come early Monday.
Have no idea what the news management will be for Sunday but I am hearing thru the rumor mill that the ECB will follow the FED and China and cut rates next week. Don't quote me, its just rumor so far.
December 2, 2011 - 3:53pm
#11829
I See Elves
@Granny - (pawing at apron strings) I'm looking at the SLV daily chart and am wondering if now would be an appropriate time for a picture of this bottom.......? Sure looks nice and round to Kitty.....
December 2, 2011 - 4:01pm
#11830
SilverWealth wrote:
Have no
Have no idea what the news management will be for Sunday but I am hearing thru the rumor mill that the ECB will follow the FED and China and cut rates next week. Don't quote me, its just rumor so far.
Is there a rate decision scheduled for next week or is this supposedly a surprise decision? I don't see anything scheduled.
December 2, 2011 - 4:03pm
#11831
Granny
Hey SW
I like that idea. I am currently still long some tza which I intend to keep over the weekend as ahedge against AGQ purchases. Good hedge.
December 2, 2011 - 4:05pm
#11832
Beemer is this the one?
December 2, 2011 - 4:20pm
#11833
flaunt
Euro-Trash has until Dec 9th meeting before the deflationary cycle starts really ticking again.
Traders I think are trying for an edge to game it. The element of surprise is about the only tool left in the MOPE box. They just used it this week, the Chinamen and the Fed. This leaves the ECB.
Goldman and the big thugs over here are in deep shit if the 'insurance' they put up for the banksters in Paris and Berlin and elsewhere is made vulnerable by default. Rumor is out of Keiserville that the largest bank in France was on the verge of collapse last weekend which triggered the FED movement. I think arms will we twisted and some will be broken with baseball bats in order to enforce cooperation. But I could be wrong.
December 2, 2011 - 4:21pm
#11834
SW and the General
SW - I appreciate the visuals you offer in your story, but you do understand you are describing a battle where our side is the losing side, right? That does not seem promising to me!
December 2, 2011 - 4:23pm
#11835
SSK wrote:
Silver,
I think we
Silver,
I think we bounce. Friday going into the close on a game-changing week with COMEX gold closing higher -- you follow the trend. If this is the big run up we've all been waiting on, the dip will be bought.
Bounce sucks so far. Most miners hitting daily lows here. Still another 37 mins to go, so things could change.
December 2, 2011 - 4:26pm
#11836
Yes Redwood that is
Yes Redwood that is it.....thank you so much... Everyone who trades should listen to it carefully,,,and not have more in your trading account than you truly need to do your trading !!
December 2, 2011 - 4:27pm
#11837
Squeezing ketchup on the left
Squeezing ketchup on the left arm at present. Getting ready to chew it off. Will not take a large position of NUGT through the weekend no matter what the whispers are.
December 2, 2011 - 4:29pm
#11838
SilverWealth
Euro-Trash has until Dec 9th meeting before the deflationary cycle starts really ticking again.
Traders I think are trying for an edge to game it. The element of surprise is about the only tool left in the MOPE box. They just used it this week, the Chinamen and the Fed. This leaves the ECB.
Goldman and the big thugs over here are in deep shit if the 'insurance' they put up for the banksters in Paris and Berlin and elsewhere is made vulnerable by default. Rumor is out of Keiserville that the largest bank in France was on the verge of collapse last weekend which triggered the FED movement. I think arms will we twisted and some will be broken with baseball bats in order to enforce cooperation. But I could be wrong.
Sorry man I totally misread your post. I thought it said rate cut by China not ECB. There is a press conference on Thursday of next week, 830am EST. Could be a good setup if there are buying ops at the beginning of the week.
December 2, 2011 - 4:38pm
#11839
nugt
gap fill on nugt @ 30.31
December 2, 2011 - 4:39pm
#11840
@SW
Yeah, the rumor was
@SW
Yeah, the rumor was Credit Agricole would have been toast this week had the FED not acted.
Almost a full retracement for FAZ today. It may even close at the high for the day... unless they ramp the S&P back up to 1250 here.
December 2, 2011 - 5:01pm
#11841
Holding long and strong
I am fully loaded in my shares 70/30 silver miners with no intention of letting go of any of them anytime soon. What is occurring is simply noise in the bigger scheme of things. I understand scalpers/day traders need to use much shorter timeframes to make their entries/exits as I do as well. I am referrring to my core positions.
The risk/reward is so heavily geared towards the PM bulls right now its just...unbelievable.
This reminds me of being long back in March 2009. You just dont get opportunities like this very often.
When your fear is the strongest...that is when you must be the most bullish.
When your greed is consuming you - that is when you MUST sell.
Rest assured - Bernanke and company are on the job. There will be no savage corrections ala 2008. The Fed (and other CBs) have spoken. They will do all that is necessary to ensure that nominal market values are well supported.
What we have here is a roadmap for QE to infinity - as Sinclair has mentioned several thousand times. Anyone that lets loose their PM positions in this type of environment is certifiably insane - especially if they understand what is transpiring (daytraders and scalpers excepted of course).
When you make a market entry that was ill advised and you end up underwater...dont despair. let the rising tide bail you out. Better to sit on the position and wait to get bailed out than to take the loss. Learn to discipline your mind.
I can assure you that the monied interests are lurking about - looking to pick your pocket and deprive you of your insurance (PM holdings). Stay long. Stay strong and never - EVER give the bastards the satisfaction of buying your positions from you on the cheap.
/End of rant.
Have a good weekend everyone.
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