Pailin's Trading Corner

The question of War with Iran is concerning me. This announcer is one to follow -

SilverWealth wrote:

The question of War with Iran is concerning me. This announcer is one to follow -

One very strange mix of the clip, but she is definitely the one that they should use to tell us bad news whenever it arrives.  She could tell me just about anything, and I may even smile while she says it. 

Oh yeah, for sure.  Maybe I haven't been around the 'corner' for long enough, but it seems like SW was a lot more sure of directions earlier (as opposed to recently).  Maybe it is just a reflection of an indecisive market and the fact that the directions just aren't as clear anymore.   

Do you think boobs will
be in or out in 2012 ?

Eric is desperately trying to spin a downer take by Louise Yamada on Gold and Silver.

Potential bottoms are 1280 and 20 or lower for Silver for this long term oriented chartist

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/9_Lou...

Yamada is important because she is widely followed I suppose but it is critically important for people also to track the intermediate and longer term as well. I will not even hazard a guess. I remain a daytrader until I see genuine strength return to metals and unless I see buyers returning  soon here in January I see more downside, with bear market type bounces on the way down.

The funny thing about these long term chart 'masters' is that they never chart a clear picture until after 3/4 of all the damage is done.

Also it is not a good sign that Morris Hubbart is pounding the table for his subscribers to buy metals at these levels. He is arguing fundamentals and that QE has to come and the government 'must print' etc. These kinds of arguments can be fatal to a portfolio unfortunately imo. It all rests now with the dollar and if the dollar breaks out or falls, all the rest for me is noise.

...if anyone knows.  The ES appears to trade BELOW the S&P by about 4 to 6 points.  Does it always?  Is this because the thought is it will be lower, and what happens if you take "delivery" - do you get the value as of the actual S&P?  I have not noticed if the price gets closer to a match as the expiry date comes closer.  Anyone know how it works?

I spend most of my study time, examining charts  and trying to find  bottom targets. But the more I study  everything I can find, from all the best  'experts' and best sources (including here)...the more Ive come to  realize  the most sensible thing to do is ....just   keep stacking.... as stackers have been advising all along.  Steady accumulation,buying the dips, buying more at major sell offs.     Any  other focus  is really getting too complex to  hit bullseyes  on a regular basis.  Yes, charts point to lower targets  going back down to retest recent lows....but  other experts warn that silver supply is getting scarce.

If one was willing to buy some at 34 , then 28  is a bargain.

Saving some dry powder to buy more at 25  is rational.  

I'm thinking of  3 portions....28/26/24

They only come out after dark.

 Gold futures rise in electronic trading

SYDNEY (MarketWatch) — Gold futures rose in electronic trading Tuesday, amid rising optimism about efforts to resolve Europe’s debt crisis.

Gold for February delivery GC2G +0.92% added $9.20, or 0.6%, to $1,617.40 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours.

The metal tracked gains for other commodity and equity markets on Tuesday, with investor sentiment buoyed by European leaders’ efforts to deal with the region’s debt problems. Read Asia markets

Silver March futures SI2H +1.57%   gained 38 cents, or 1.3% to $29.16 an ounce.

A softer dollar lent support to the metals suite, with the dollar index DXY -0.21% , which tracks the U.S. currency against six others, falling to 80.895, from 81.001 in North American trade late Monday.

A weaker dollar tends to encourage buying in dollar-priced commodities as it makes them cheaper to holders of other currencies.

This comes from a pretty conservative outfit's outlook for commodities for 2012.  Good for a step back and take a breath type moment...

Gold

Gold is certainly our preference in the precious metals complex. Its story is still very positive, with central banks buying to diversify; JP Morgan recently noted that Russia's gold reserves have increased by 14.5 million ounces, or 113% since 2006. Physical demand from China and India has doubled to $1.8 million per kilogram each year since 2008. On the flip side, while production was still growing 6.2% year-on-year in 1H11, it was still lacklustre relative to demand. European leaders seem to be reactionary as opposed to pro-active, and while no backstop is in place to halt the spread of contagion from a potential restructuring of Greek debt, one has to think a fallout in confidence should support the case for gold appreciation, with the price easily making a new high if QE, either from the ECB or the Fed, becomes reality. Until we see a weekly close below the September low of $1532, we remain bullish but cautious. If we do witness this, our stance would change and a deeper correction would be expected.