Pailin's Trading Corner

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Thu, Dec 20, 2012 - 1:34pm
BlackHawk
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Is it time to short Oil?

What say you rico and csquared. I sold all my UCO yesterday.

Love you longer time, oil both up and down.

Thu, Dec 20, 2012 - 1:53pm (Reply to #31151)
rtabit
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redwood wrote: Same fork I've

redwood wrote:

Same fork I've been looking at. If this doesn't provide support then are we going back pre 2008 to find another support line? If so, then I think we can forget about metals for a long time. I suppose it could go a bit further without disturbing the trend but not much.

I assume you mean weekly because monthly still has lots of room to fall. If it doesn't work the first thing I'd do is look for some floating parallel lines, this is long lasting fork with good validation, that trend line is not going to just go away. Next thing I'd do is look for some new forks, below is link to two possible forks in this chart I'm watching, neither currently has much if any validation. I wouldn't go back further in the weekly, the monthly already does that, you'd probably end up getting the same fork in both monthly and weekly, which is kind of pointless. Also want to watch out for bullish flush of that lower medium line, where we get a big spike lower but close is up close to medium line, if that happens I'd expect it next week or week after. Also this is a weekly chart, it could take a long time to play out, so it may take a long time before you can decide to forget about metals for a long time, but may only take a few weeks (at shortest) to declare that fork no longer valid.

https://www.screencast.com/users/RandyTabit/folders/Gold/media/d623b7ec-...

Thu, Dec 20, 2012 - 2:14pm
Corsair
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EXK

recall atlee saying EXK in 7's was good deal. got a small taste @ $7.72

rtabit, do you have support number for silver in one of your crystal forks?

"The closest we get to perfection is writing our resumes."
Thu, Dec 20, 2012 - 2:35pm (Reply to #31154)
rtabit
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Corsair wrote: recall atlee

Corsair wrote:

recall atlee saying EXK in 7's was good deal. got a small taste @ $7.72

rtabit, do you have support number for silver in one of your crystal forks?

No, just monthly and weekly that I posted yesterday I think, all other forks I had are broken, haven't looked for new ones yet, just focusing on longer term charts for now until things settle down. Need SI to get up close to 30.80 to consider spike to be bullish flush on weekly, but that fork didn't have much validation anyways. Below is backup SI weekly fork I haven't looked at in a while, longer term fork, I guess makes a little sense to bounce there, but I wouldn't have expected it.

https://www.screencast.com/users/RandyTabit/folders/Silver/media/621f4fd...

Thu, Dec 20, 2012 - 2:50pm
SSK
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Sweet Jesus, I am making

Sweet Jesus, I am making money off a miner trade. Hallefuckingluah!

200 MA was the buy on AUY and RGLD. Grabbed some NUGT at 9.37.

Holding ain't in the cards. Flipping is. Because until proven otherwise, this is a bait and switch.

Thu, Dec 20, 2012 - 3:19pm
greatwarden
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Silver daily

Draw a trendline from Sep, 30 to Nov, 28 highs on silver daily.
Duplicate it and apply to Nov, 4 lows. You'll see that it fits nicely with action today.
Looks like a range, bullish flag or whatever you see.

Thu, Dec 20, 2012 - 3:24pm
Strawboss
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Silver daily

On a Netdania daily silver chart, draw a line from the lows on June 27th, July 23rd and today.

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.
Thu, Dec 20, 2012 - 3:31pm
SilverWealth
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turn date

A major Bradley Turn date is tomorrow. Maybe has to do with Solstice or something, I just thought Rico would want to know this.

Probably volatility tomorrow, which direction I cannot say.

Meanwhile the Rebbes are still huddling and discussing the matter of Rabbi Turd ben Shalom. Updates as their decisions are handed down from on high...

Silver has waved down into first possible bottoming zone, next one is 26 and then 22. No manner of entrail reading, KWNews quoting or COT reporting will help you. The Kingdom of God has arrived in judgment. Seek him in prayer and be humbled upon your knees all ye of the slide rule and the Fork lest you encourage his wrath and welcome suffering upon the Land.

Thu, Dec 20, 2012 - 3:35pm
greatwarden
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Strawboss - Silver daily

I know. I have it plotted, but it has been violated. More than two closes below and it's over.

Thu, Dec 20, 2012 - 3:46pm
firstsilver
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Good AUY heads up, SSK

BOT some AUY at 16.32; got out a few minutes back at 16.63.

For those mentioning EXK, I've been accumulating that for a hold/core position, although I do trade a small portion of it. Didn't buy more today, but got some two days back at 7.97.

Thu, Dec 20, 2012 - 3:48pm (Reply to #31159)
Rico
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SilverWealth wrote: A major

SilverWealth wrote:

A major Bradley Turn date is tomorrow. Maybe has to do with Solstice or something, I just thought Rico would want to know this.

Thank you--it made me think of William Shatner talk-singing "Rocket Man", back in the day (remember that one?)

@Blackhawk,

Lettin' it ride, Ma'am--lettin' it ride...

Thu, Dec 20, 2012 - 4:04pm (Reply to #31160)
Strawboss
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Huh?  The trendline from the

Huh? The trendline from the lows of those days perfectly aligns with todays low - no violations of the trendline and definitely no closes in violation of the trendline.

greatwarden wrote:

I know. I have it plotted, but it has been violated. More than two closes below and it's over.

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.
Thu, Dec 20, 2012 - 5:20pm (Reply to #31163)
rtabit
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Strawboss wrote: Huh?  The

Strawboss wrote:

Huh? The trendline from the lows of those days perfectly aligns with todays low - no violations of the trendline and definitely no closes in violation of the trendline.

greatwarden wrote:

I know. I have it plotted, but it has been violated. More than two closes below and it's over.

I see what your talking about. Looks good, maybe starting little channel in here like before. This is normally first step I take when making fork btw, find a trend line that working, and look for fork that match it.

https://www.screencast.com/users/RandyTabit/folders/Silver/media/3befff9...

Thu, Dec 20, 2012 - 5:55pm (Reply to #31145)
rtabit
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Strawboss wrote: Trading

Strawboss wrote:

Trading against the commercials as presented via the COT can be hazardous to your health...

I am off to sell some metal to double down on NUGT. Not a huge percentage of the stack - but, a portion. 

Where do you sell your metal at? I think I remember reading one time that you are in the northern VA area, I've never sold any physical but if you don't mind driving a couple hours down to Charlottesville this place looks to buy at good prices. Was actually going to sell some one weekend back when hovering around 35 but was to lazy to make drive.

https://jcsgold.com/sell-to-us/

Thu, Dec 20, 2012 - 6:35pm (Reply to #31129)
Titus Andronicus
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RobertW wrote:Gold at

RobertW wrote:

Gold at 1646.29 just touched (and bounced) on a trend line that has hold since the third week of July 2010. Just feel it wont hold. Good trading, Robert

Yea, I see the trendline you're talking about.

There's another one which dates back to the 10/24/2008 gold bottom which was also breached today at $1659. Unlike the trend you mention, there was no bounce there.

We've now breached all upward trendlines in gold which have a base point prior to the September 2011 all time high in gold.

I agree with you that the bounce you mention does not seem likely to hold for long. I guess we'll have to wait for January for that.

With the lighter holiday trading, the algorithms really kick in to move the market around and sweep up the profit. Some of my patterns which had a rather dull October/November are now starting to pull in some good numbers.

Thu, Dec 20, 2012 - 6:50pm
Titus Andronicus
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Kyle Bass

I'm not sure if you guys saw this video which was posted on ZH.

I wouldn't take it as Gospel, but it sure was interesting to me.

It's an hour long, but this guy had my attention within the first 5 minutes.

(The video can't be embedded, so you have to follow the like to youtube.)

https://www.youtube.com/watch?v=JUc8-GUC1hY

Thu, Dec 20, 2012 - 9:13pm (Reply to #31167)
Strawboss
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Yeah, I watched it.  I hope

Yeah, I watched it. I hope they do some video editing so we can see the slides he was presenting to go along with his commentary.

Titus Andronicus wrote:

I'm not sure if you guys saw this video which was posted on ZH.

I wouldn't take it as Gospel, but it sure was interesting to me.

It's an hour long, but this guy had my attention within the first 5 minutes.

(The video can't be embedded, so you have to follow the like to youtube.)

https://www.youtube.com/watch?v=JUc8-GUC1hY

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.
Thu, Dec 20, 2012 - 9:15pm
Bum in the library...
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Let me get this straight. 

Let me get this straight. The media is telling me that gold and silver prices dropped the last few days because Congress was about to work out a deal to avoid the fiscal cliff. Then tonight, I hear that no deal has been reached and gold and silver prices drop again. Makes no sense! Then we have Andrew Maguire saying this is an orchestrated take down here: https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/2_Wh...

I have to side with Maguire on this one. The media is blowing it as usual... this is not new news to most of you I am sure. Am I missing something here?

Thu, Dec 20, 2012 - 9:44pm (Reply to #31169)
rtabit
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Wow check at that flash crash

Wow check at that flash crash in ES, panic is starting to set in, will it cause metals to plunge or bounce, should be an interesting night.

Thu, Dec 20, 2012 - 9:56pm (Reply to #31170)
redwood
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Those damn Mayans.....glad I

Those damn Mayans.....glad I went flat at the end of the day. What's your guess rtabit. And tomorrow is quadruple witching. Hell you couldn't make this stuff up.

randomness