Pailin's Trading Corner

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Thu, Jul 11, 2013 - 5:42am pailin
sixdollarsilver
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mm hmm

pailin wrote:
Next year is another thing and I hope ya'll play the seasonals, if you've been paying attention 2013 has been educational :)
Thu, Jul 11, 2013 - 7:50am
pailin
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Assuming trend change -

Assuming trend change - taking a look at monthly silver 2009 forward...got hung up at 15 and then 20, followed by a nasty little re-test of 15, and then off to the races. So that means we can reasonably expect to get hung up at 26, later 35, followed by nasty little re-test of 26 (??) and... :)

Does this take a few months or a few years to play out? Well that's a good question.

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Thu, Jul 11, 2013 - 8:40am
redwood
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Its 8:30 and already we're

Its 8:30 and already we're off to the races. Somebody is in a hurry to see this take off. Silver at 20 is here. Waiting to see if 1300 is taken out as well. We've been warned by several that a spike in metals could be precipitous...as always we'll see.

Thu, Jul 11, 2013 - 10:20am
Rico
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There is no way this is going

There is no way this is going to continue--all the charts have done nothing since the big Asian move: PM move over, bond move over, $ well off its lows, even the SPX is stalled out. This is a great time to sell winners.

Deluxe, cash in those AGQ calls.

Thu, Jul 11, 2013 - 10:38am
mje173
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If I'm not mistaken, gold

If I'm not mistaken, gold support is around 1150. We haven't gotten there, but there is anything to say we won't see it before 3Q is out.

Haven't capitulated on my short call on gold. Will give it the rest of the week (tomorrow). Up until now I'm down 1.7%. =[

Thu, Jul 11, 2013 - 10:38am
Deluxe186
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hate to say I agree with you

hate to say I agree with you although I would like to hang on into tomorrow.

Thu, Jul 11, 2013 - 10:56am
Rico
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Bought first tranche of DUST

Bought first tranche of DUST and ZSL. There will be additional moves down this summer. All global CB moves are designed to support equities, not PMs.

I've been waiting for a good DUST pullback. Much as it pains me to say it (and I am keeping a large IAG position) the evidence for further mining destruction is simply overwhelming--even the majors are completely fucked. It's entirely the mgmts--these companies are run by sociopaths, and people like Sprott, Casey, Sinclair, etc should be dragged out of their offices, and summarily shot in the head.

Thu, Jul 11, 2013 - 11:06am Rico
BlackHawk
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Agreeing with Rico

This PM move up can't last. What brought it on anyway? Bernanke further de-valueing the dollar? Who could have seen that coming? Anyway, sold half AGQ position, took a small short crude oil position via DTO. Tiime to selll NUGT? Maybe, but will wait and see if the S&P is going to roll over.

We cannot be long off from of some military black swan event that could send oil prices higher. It's trading at the top or slightly above it's trading range ATM. Tight stops and wait for Pres O to begin the mantra about evil oil speculators followed by increased margin requirements.

Jets sent to Egypt this morning to support their military coup. Check.

Irish MP Clare Daley claims that military planes are at Shannon airport shiiping cargo to Syria. Check. https://rt.com/shows/worlds-apart-oksana-boyko/ireland-cia-nsa-prism-936/

Snowden has apparently accepted asylum in Venezuela. Check

War is good for business. Let's rally!!! <heavy, heavy sarc>

Thu, Jul 11, 2013 - 11:12am
mje173
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nice

nice little waterfall going on.. zomg, who would've known!? Fully hoping for a 1250 close. Expecting 1260.

right out of the middle-left corner of my ass is where I got those figures from. but I'm an engineer AND banker. Do you trust me? :P

Thu, Jul 11, 2013 - 12:50pm
Lord Henry
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Yep, and the British forces will soon follow

no doubt.

Not quite ready to start dissin' Pailin

metal theory unlike the rest of you lot either....

Madness - Night Boat To Cairo
Wake me up at HUI 200. No, on 2nd thoughts, please dont bother.
Thu, Jul 11, 2013 - 2:25pm Lord Henry
mje173
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Lord Henry wrote: no

Lord Henry wrote:

no doubt.

Not quite ready to start dissin' Pailin

metal theory unlike the rest of you lot either....

Madness - Night Boat To Cairo
Man, fuck Pailin. Who's that guy anyways??

BTW, I'm starting to have my confidence shaken. 1 day into this trade and fuck me twenty times, I think I lost $100. =[

No worries, going long Russell 2000 next week. Will make up lost monies then.

Thu, Jul 11, 2013 - 2:29pm
Deluxe186
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Has anyone looked at fxp? 8

Has anyone looked at fxp? 8 percent drop to moving average with a disaster of a gdp number due sunday night unless there not really that bad? I'm still looking at that one into the weekend. But don't have time to search the internet. If anyone finds anything post it.

Probably holding into tomorrow to see what happens. Weekend not so sure.

Thu, Jul 11, 2013 - 2:30pm
Deluxe186
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(No subject)

Video unavailable
Thu, Jul 11, 2013 - 3:11pm
csquared13
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Think I'm gonna have to lean

Think I'm gonna have to lean towards Rico's sentiments as well.

Not saying this ain't the seasonal turn..just think it's still a little early in the month..price could come back down and go sideways for a bit...similar to last summer (without putting a new low)

I'm tempted to put on some DUST too, but gonna stay out. Rather wait until Sunday/Monday to see what action is like.

Only longs are RVM and IAG (cash ready for another tranche of each..just waiting..)

EDIT: to clarify on last summer...the move up didn't even come till August...so who knows? maybe we could still flush to a new low, but have a very bullish close far off low...final "stop-run" or some shit..anyways, GLTA.

“Everybody gets what they want out of the market.” -Ed Seykota
Thu, Jul 11, 2013 - 3:24pm csquared13
BlackHawk
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Holding those dogs too

Quote:
Only longs are RVM and IAG
Yeah, I'm holding those miner dogs too. RVM looks like a candidate for Chapter ??. Maybe they can partner with RadioShack.

NUGT drifting up with the indices this afternoon. I will take profits at the first sign of a market turn. Prolly ring up the rest of the AGQ position too. TZA and UVXY positions are really taking a beating today. At least they were not bought on margin. How high can we go on this market rip anyway?

In other news, one of my hens wedged herself into an opening in a cement block that holds up the water barrel chicken house plumbing rig I invented. So, the barrel and header system had to be drained and all the PVC connectors knocked apart to pull her out. Another blow for freedom, with irritating sweat and chicken dust cakes pasting clothes to skin. I said fuck an engineering degree. Who needs it now anyway? This is Amerika kid. Nobody gets something for nothing. God bless pailin, and God bless Amerika. Did pailin tell somebody to go short or something? I missed that post.

USA, USA, USA, USA

Thu, Jul 11, 2013 - 3:28pm csquared13
BlackHawk
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.

.

Thu, Jul 11, 2013 - 3:53pm
Lord Henry
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Seasonals

C'mon you lot pay attention perlease ! Pailin's got us

on seasonals now ... We're beyond the 4th July turning

point....metals going up nicely....all going to plan so far.

Ok, so timing a bit fortuitous with weaker Dollar - but

metals previously sank with weak Dollar - so- lets give it

a chance . Seriously debating buying miners tomorrow,

Fortuna, Panther, Alexco, Soltoro, Pretium at the top

of the list (starter positions only this week). Guess miners

on Pailin's to-do list as well (not).

Wake me up at HUI 200. No, on 2nd thoughts, please dont bother.
Thu, Jul 11, 2013 - 3:59pm
Strawboss
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Bought AGQ at $17.91

Bought AGQ at $17.91

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, Jul 11, 2013 - 4:10pm Lord Henry
pailin
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Lord Henry wrote: Guess

Lord Henry wrote:

Guess miners on Pailin's to-do list as well (not).

Miners.

The Great Satan.

And the only chink in David Morgan's armor :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Thu, Jul 11, 2013 - 4:17pm sixdollarsilver
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sixdollarsilver wrote: pailin

sixdollarsilver wrote:
pailin wrote:
Next year is another thing and I hope ya'll play the seasonals, if you've been paying attention 2013 has been educational :)

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