Pailin's Trading Corner

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Fri, Sep 14, 2012 - 3:54pm
Gold1776
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Don't Know If This Matters

Fri, Sep 14, 2012 - 3:55pm Kid Salami
Titus Andronicus
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@Kid Salami

No, I wasn't referring specifically to you.

I would have to agree with you about the "dumb hillbillies" comment.

Fri, Sep 14, 2012 - 4:02pm
redwood
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Well bum you were right, it

Well bum you were right, it didn't go down.

Fri, Sep 14, 2012 - 4:06pm
Rico
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If this is a resumption of

If this is a resumption of the PM bull, those trying to zip in and out of every chart squiggle will never match the returns of traders that keep the big picture. Day trading a trending market is not a good idea.

Trends don't happen that often, so they shouldn't be wasted.

Fri, Sep 14, 2012 - 4:07pm
Strawboss
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The old adage is that the

The old adage is that the miners lead the metals.

If that remains true, the miners conclusively spoke today that there will be further upside next week. I have added some Sept/Oct SLV and SLW and AUY calls.

I am thinking that silver will push higher to $37ish, then retrace to somewhere around $33-35ish, and then set its sights on $49.

Jesus Christ is the only true hope that any of us really has. Aaaargh .. the monkeys!!! Trading metals is like playing frogger...there's always a big truck coming.
Fri, Sep 14, 2012 - 4:16pm SilverWealth
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Funny I was going to ask

Funny I was going to ask about that today. Thanks for that. Unfortunately didn't read it before close, but I think the market is headed up at least for the first part of the week.

Fri, Sep 14, 2012 - 6:12pm
SilverWealth
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hot money

the momentum crowd has piled into miners. IMO there could be further upside there even if gold stalls, the GDX chart is strong.

Fri, Sep 14, 2012 - 6:58pm
Rico
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GLTA

GLTA

Fri, Sep 14, 2012 - 7:55pm
Notsochewy
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Will history repeat? I

Will history repeat? I believe QE2 was announced Nov 3/2010. Nice chart to look at. Silver had already started a decent upleg and essentially reached a value double to what it was before the announce. We similarly have started a nice upleg before this announce.

Fri, Sep 14, 2012 - 8:47pm
Eman Laer
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Marc Faber

Faber is hoping gold corrects to 1650 and holds before moving higher.

I swing trade by the seat of my pants, but I do make a little profit somehow. Any comments I make about my trades should be taken with a grain of salt, and maybe as a contrarian indicator.
Fri, Sep 14, 2012 - 11:32pm Gold1776
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Wait for first operation of QE3?

If I remember right, with QE2 there was some correlation between the market making big moves up and the days on which the Fed actually stepped in to by MBS. Maybe we need to wait for the first injections of funny money before there is another major jump in prices.

Fri, Sep 14, 2012 - 11:45pm SilverWealth
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SSV has been flatlining at

SSV has been flatlining at its lows for the last three months, but seems to be heading for a breakout on high volume. Perhaps an indication of some of that hot money coming into the miners.

Sat, Sep 15, 2012 - 3:42am
rtabit
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SI 240

Hitting top of fork, expecting sideways to downward movement for majority of next week, not based off this chart, this chart just good for support levels, currently 34.35, 33.69, 33.20, 32.47.

https://www.screencast.com/users/RandyTabit/folders/Silver/media/1b9ff269-650a-40d3-88b0-fd481e526855

Sat, Sep 15, 2012 - 8:55am
hhesse
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one red weekly candle on last run from 28 to48

Sat, Sep 15, 2012 - 9:36am
ivars
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forex (XAG) or general trading services -safety/reputation

I have just started to trade ( in may) XAGUSD and use local small broker that however, uses SaxoBank trading platform, and has agreement with them, so counterparties also those that SaxoBankTrader can reach. Also, the account is insured for 125000 USD from Estonian Government, however, I would prefer Finnish or Swedish quarantees. I also want to split into more than one brokerage in future.

Now that I have increased my account by about 150% in last month, and have quite positive thinking looking forward, I am beginning to look around for a safer(?) broker.. Are there any rating lists etc or opinions ? May be Your? I am of course looking for an online service which would be available to Latvian (we are member of EU) citizen. Safety is criteria number one, over order costs , spreads etc.

I do not day trade, nor need support in calculations/entry points etc but sometimes i would place an order I would expectt to get filled immediately, i.e. there should not really be restrictions on timing of a trade ( my orders so far do not exceed 1000 Oz/order). Mobile Android platform is of help as well, as computer access is sometimes impossible for few days due to my work.

Is it better to have independent brokerage or one associated with a relatively safe bank (Swiss? Swedish? Nordic? German? USA?)

May be You can give me a link which would establish some basic considerations/recommendations.

Any answer is welcome and appreciated. Please send me a PM not to disturb this thread- or is there a forum in TF already discussing these things?

Thank You in advance

Ivars

Any future development must involve changing something which people have never challenged up to the present,and which will not be shown up by an axiomatic formulation. P.A.M.Dirac
Sat, Sep 15, 2012 - 12:18pm Rico
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Rico wrote: Take gold, for

Rico wrote:

Take gold, for example. You could hold futures, options, stocks, and physical, in descending order of "excitement". Today, once the move happened, I was worried about giving back the gain in the futures, so I sold. I could do so with a great deal of equanimity, because I had lots of calls that would benefit from further price moves, but if price moved down, could ride for awhile without hurting too badly. I often hold options for weeks, and give them a wide berth.

Let's say then that the options needed to go, to further reduce risk exposure My ETFs and miners, and my general diversified portfolios, can then still keep me in the game.

Finally, if I'm really ready for the world to end, I can liquidate to cash and physical.

By having these different "layers", one can dance in and out, opportunistically, and not constantly have to re-invent the wheel. Try to always keep at least some irons in the fire at all times.

thanks for sharing this, rico.

i just sent in the form to add option trading to my brokerage account. thinking of dipping my toe in next week with some far out calls. can you or anyone recommend some reading material/literature?

i'm not looking to create spreads or anything like that as i am a complete newb to options. just want to include the ability to include some calls since my only layers at this point are my physical core, some core miners, and my regular trading account. (which will have ability to trade options on wednesday or thursday)

“Everybody gets what they want out of the market.” -Ed Seykota
Sat, Sep 15, 2012 - 8:34pm
Eman Laer
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interesting interview

Janet Tavakoli: Understanding Derivatives and Their Risks
I swing trade by the seat of my pants, but I do make a little profit somehow. Any comments I make about my trades should be taken with a grain of salt, and maybe as a contrarian indicator.
Sat, Sep 15, 2012 - 11:50pm
redwood
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http://moneymorning.com/ob/to

https://moneymorning.com/ob/top-u-s-banks-getting-ready-for-new-financia...

Don't know about Sept. or Oct. but later yes, a definite possibility.

Edit: Article is too old as it refers to the meeting of Sept. 6 in Frankfurt. However it still makes some important substantive arguments based on exponential growth curves. That is we live in a global economy based on unlimited resources that largely implicates energy and the environment.

Sun, Sep 16, 2012 - 6:05am
Silverman
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Holding 30.50 position still.

Holding 30.50 position still. Maybe another month or so. Holding good position for several months is much safer than trading daily. Don't have to worry about daily price swings. Not great at daily trade tbh. Should have bought at 26 but account was empty at that time.

Sun, Sep 16, 2012 - 11:08am ivars
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Ivars

I will respond here so others can tweak or alter my response. Couple of principles to follow:

1. There may be many jurisdictional considerations so best to stick to the EU.

2. Stick to a large bank...you know too big to fail.

Have you looked into UBS or Credit Suisse. As you know Switzerland is not part of the EU but are not as likely to have jurisdictional problems with clients. Tough question. GL.

randomness