I'm holding over w/e too. Monday should be interesting. GSR definitely under 54. JoeKa indicated 53.73 as the threshold to move PM's up. That's what I'm doing, holding.
Pailin's Trading Corner
really? was contemplating shorting for the bounce back to pivots again.
Yeah, owning forex PMs 'outside London Fix' strategy. Still tweaking.
ah, ok. yes that's interesting, am going to look at building an MT4 bot for this because I would forget, or look the other way, or walk the dogs at the critical times for sure.
SLW definitely moves with equities unlike many of the other miners. I use that as my guide.
I think buyers will come into PSLV near close since its so discounted. Has big gap to fill upstairs and Meister Sprott has the whip out today.
I just started that trade too.
I kept my gold and silver longs I've had for a couple weeks now.
I added an extra long at 2:30pm EST to start playing the trade. I'll try reversing it at 5am. I feel a bit nervous shorting in this market, but I'll give it a try.
I have not done or seen any specific study of the same trade for silver. I'm not sure when I can get around to it, but I will at some point.
Added NUGT and SLW.
that was good bargain basement buying Pailin, good job.
ok. silver has passed 32. Mondays following strong Fridays usually don't do so well....is it different this time?
Here's the chart of studying the monthly returns for the "gold time-of-day" trade for 2011.
This shows and compares the monthly return of 4 strategies over 2011:
- RED: short gold from 5am - 10am EST.
- GREEN: long gold from 2:30pm - 5am EST.
- YELLOW: 1 + 2 combined.
- BLUE: straight long gold.
The numbers show how many dollars are gained/lost per ounce of gold traded.
Only the combined (yellow) strategy has the values explicitly printed.
You can see that the trade is not always profitable, but sometimes INSANELY profitable. All 4 of these strategies include holding only a single gold position at a time, so it seems like they all have the same amount of risk (except, of course, that the 4th strategy can be done by holding a purely physical position -- a huge risk advantage).
How long can such a trade remain profitable? I'm pretty sure it has been profitable for many years. How much longer? I would assume that this trade will continue to become more crowded.
I can see that there are potentially large losses on a daily and weekly basis. Be careful if you trade this.
Double inverted H&S on oil SCO, one pattern on 10 day, the other bigger one on the 30 day. Targets SCO at 41-42 depending on which head you use.
Will I get some head this weekend? Can't say for sure but will short oil anyway. Slight downtrend from early January may pick up steam.
Well I hope the green bar refers holding from Friday to Monday am. If it does it answers my question.
yes. 2:30pm to 5am includes holding over the weekend.
Great! I'm holding. Thanks for all your efforts Titus.
"Will I get some head this weekend?"
I think you have a little longer in FIAT world Rico..
So I've got that going for me--which is nice...
Thanks SW, you just pushed me over the edge.
Taking home on the dark side:
GDX ANR FCX USO
So what's the deal here? They want the asians to meet a 40+ silver when their holiday is over?
I'm a bit concerned with the volume and the nonaction of the miners though.