tonym9 wrote: the freefall in WTI is, well, ... wow. based on WTI pm have a way to go yet imo UCO is starting to get me to itchin...like load up the truck itchin. Its 6.50ish now. Not a big fan of long term holds, but at these level it is starting to look like an awesome ME play. Still thinkin on it, but this one will prolly draw me back into the game. Low $20 WTI should be sub 5 if not 4....one thing goes wrong in ME and its an x bagger
the freefall in WTI is, well, ... wow. based on WTI pm have a way to go yet imo
UCO is starting to get me to itchin...like load up the truck itchin. Its 6.50ish now. Not a big fan of long term holds, but at these level it is starting to look like an awesome ME play. Still thinkin on it, but this one will prolly draw me back into the game. Low $20 WTI should be sub 5 if not 4....one thing goes wrong in ME and its an x bagger
Here's Armstrong on WTI recently:
So for now, we should focus on the $24-$25 area as the next psychological support zone. Our two key areas of target support for 2016 are $25 and $16. Looking forward, we employed our WHAT IF models to try to forecast where the Yearly Bullish Reversal (buy signal) will be generated from a low at either position in 2016. Interestingly enough, in both scenarios, we end up with $40-$41.50. This will clearly become the major resistance moving forward. It does not appear that crude will ever make new intraday highs. It must fight against a dollar rally which appears to be on the horizon and a shift to electric cars.
Me, I remained out of equities during the August collapse. I took Armstrong's message to heart that there was more down to come. So I'm still watching, waiting to see the reaction at 15300. With a potential buy at around 12/13k and upside to new highs (22-42k). It works for me. If the market see Dow 12-handle, the cries of 9k and even 6k will be everywhere, which means it won't happen (like $250 gold or $4 silver) and somewhere in there is the buy while everyone else is sidelined and only the shorts are longing...to cover ;)
What does Armstrong think of the rally in gold?
Will the "flight-to-safety" sputter out in the withering deflation storm, or is it bottoming?
Scooped up RUSS at 15.07. I love playing this trend. It's 5-alarm bells in Russia at present. @85 rubles to the dollar. Time to buy a dacha.
I was doing other stuff today (happy bd to me!) and didn't watch the markets...so, wtf re: silver today? Banged up to 14.35 and then crushed right back to 14? Was there a headline or something?
happy post bday!
Thanks. I feel young as ever ;)
Nice to see equities puked their guts up again this afternoon. I really want Armstrong's reaction to buy into. Even if I get spiked, would be fun to play real time again with his play.
Speaking of plays...screw The Patriots. Only brief moments of brilliance yesterday. And still couldn't close the deal to tie. Bah.
Iconic (British) vehicle production ends tomorrow. (I know some here are into cars and antiques/art as I myself am). Land Rover Defender production ends Friday).
Mud, Grit, and Glamour: 70 Years of the Land Rover Defender
if you want a real laugh, check out this portion of the UK Top Gear Series where they recreate the dam wall climb
p.s. if you didn't catch my drift, buy a decommissioned ex army Defender, look after it and leave it for your kids fyi...in the meantime you can just drive it around.....
This London Fix fiasco seems thus far unimportant.
"Price by committee for derivatives. "
Wow this has to be a vote for physical. But little comment. What am I missing??!!
It's very interesting that arbs didn't close the gap, pretty bad it was visible to everyone. It's either a big deal or it isn't, only time will tell ;)
The Gold spot monthly candlestick pattern looks bullish to me, any thoughts?
MA makes fun of this kind of talk; ZH has been featuring Middlekoop, would be interested what folks think of his reset idea.
G/S ratio appears to be signaling a reversal in the bearish leg we have been in. The up trend in the G/S ratio from early nov. 2015 appears to have put in a lower high. Now it is time to wait for confirmation. I've been watching this closely.
Closed out MUX longs for just shy of 24%
Overhead resistance tapped on my weekly XAU chart. I won't wait to find out if we break down or out.
Still holding longs in RGR, CSCO, KO, TSM.
So taking into account that weird fix from a week ago, and then the big move yesterday...I could imagine some people getting really excited (and guess what? They are!) Okay. But we trade and invest logically not emotionally. Right? (Well except for art - that I have a real passion for :) So let's keep it real. Chinese New Year. Indian Wedding Season. Seasonal bull. Look for your top between now and May...and short it. If you are so inclined.
There will be a summer low, and Armstrong was still preaching lower lows for both metals. Though I haven't seen his upside targets against this new move. I think gold over $1200 held some significance. Anyway, one thing he's made clear many times for both equities and metals is the lower the low (and you want it to be deeeep), the higher the next high will be!
This "rally" I'll actually sell longs into (and take a real paper loss on), re-buying summer seasonal or later (as was the case last year) lows to replace. Well we'll see...that's the plan anyway.
on this company by posters to this forum?
Thanks in advance
Silver66 Rage against the dying of the light