Pailin's Trading Corner

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Thu, Jun 11, 2015 - 9:15am
Dorothy
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Short EUR/USD @1.12382 (inc. spread)

Proper stop, big target. (This could be expensive...)

Would have put this on last night but was already on my 4th can...

(This morning my laptop rolled over and took out my charts.)

Had about as much eurobollocks as I can take...

https://zerohedge.talking-forex.com/live.html

This is all about the Dollar.

Sorry about the typo in the last post (obvs it was a short) I was being berated at lunch...

Turns out attacking big pieces of metal with grinders actually goes quite well with trading, who knew?

Fri, Jun 12, 2015 - 8:56am
pailin
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silver

Right on schedule, flush into the end of month, maybe even into July. I'm waiting...and then STRIKE :) for more bullion. Should get at least low 15s, and if 15 breaks maybe much, much lower!

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Fri, Jun 12, 2015 - 10:51am (Reply to #40008)
joeblack
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Sarasota, FL
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End of month and...

End of month and end of quarter.

Thu, Jun 18, 2015 - 9:23am
Dorothy
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Short(er) EUR/USD @1.1393 (inc. spread)

Lemmings on the warpath...

This could end badly.

Thu, Jun 18, 2015 - 2:17pm
Sunnyboy
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Paradis
Netherlands Antilles
Joined: Aug 24, 2011
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Short Euro

JAL

Be careful I can see an outside chance that Germany will forgive its 56B chunk of Greek debt as compensation for the WW2 loan the Nazi's forced Greece to pay. They can probably afford it.

Also with the USD flash crashing its not a currency I hold long, there are a lot safer bets out there such as the Hong Kong or Singapore dollars

bwdik?

Woof

Tue, Jun 23, 2015 - 8:55am
Urban Roman
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Jollyville
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Metals retailers

I am seeing 'out of stock' on Pt items. That 10- handle is perhaps the reason?

Ag items still listed as in stock, maybe this is close to the bottom.

Tue, Jun 23, 2015 - 9:48am
Dorothy
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Closed 2nd EUR/USD Short @1.11419

~250% Profit banked... (IG cocked up so I had a 99 pip stop!)

More than covers the cost of the first one, which remains open with it's original limit.

EDIT:

I had some Paul Tudor Jones based justification for the second trade but it's probably bollocks.

Got lucky, got away with it!

(Will probably do it again...)

GLTA!!!

Sun, Jun 28, 2015 - 4:19pm
pailin
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EUR

:)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Sun, Jun 28, 2015 - 6:38pm (Reply to #40014)
Dorothy
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Moved my limit...

Only a little bit.

Mon, Jun 29, 2015 - 8:13am
Dorothy
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Long EUR/USD 10 July 11000 Puts (spreadbet!)...

Couldn't place another normal spreadbet...

(IG have got the minimum guaranteed stop distance at 500 pips!)

Never liked the Euro much anyway.

Mon, Jun 29, 2015 - 9:16am
Dorothy
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Long $Gold @1180.68 (inc. spread)

One of these days...

(No limit.)

Mon, Jun 29, 2015 - 10:28pm
HappyNow
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Canada
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Well let's hope this good thing doesn't fall

The SBT or Silver Bullion Trust is a fund which stands out from the others because a 'share' really is a share of unencumbered, allocated, segregated, silver.

The Sprott fund wants to gobble it up. Now why would they want that when they can easily just go and buy more phys if they need to?

Likely because the SBT is trading at a negative asset value so this is in a way cheaper than buying silver directly.

Sprott is a disappointment to the world of silver and even though he no longer manages the fund that bears his name the fund is not a friend of silver ownership in any way.

Hope this just dies on the table.

https://www.silverbulliontrust.com/rejectsprott/

Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.
Tue, Jun 30, 2015 - 10:09am
pailin
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silver shares

Owning these shares whether they be CEF, Sprott, SLV, whatever...big time joke on the little guy. They are only for trading not buy 'n hold. I understand the concerns up in Canada, but from my POV...who cares who owns which fund...in and out for a trade, no more, no less. Anything deeper than that, you should be vaulting your own bullion anyway (on site or off, your choice). And even then...bullion? Armstrong has me more than half convinced that's all marketing bs anyway. We're all of us buried in GLOBAL problems (which is why tiny ol' Greece if fcking EVERYTHING up), a very complex web of moving parts...one country or another going on a "standard" (of whatever stripe) will not do much to change the complexion of the picture. Money always flow to where it's treated best (or mistreated least). Right now that's USD-denominated assets. Tomorrow? Who knows, but the flow will tell you, not website dudes trying to scare you into taking out a second mortgage to bury yourself in (his company's) bullion!

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Tue, Jun 30, 2015 - 5:05pm
SSK
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Gobble Gobble

Off to Turkey and Spain on Thursday. Could I have planned this trip any better? Grand Bazaar, meet SSK. Actually, meet Mrs. SSK. Got to love going to a country whose currency just hit an all time low against yours. Erdogan, thank you for you overszed pride.

So, how about MUX at $.95? ABX at $10.50? SLW at $17.50. I haven't looked at too many of them, but RGLD is the only one I see that isn't at the 52 wk low. Most miners are at a 5- year low. I'm going to set some buys at 10% lower and just let er rip.

Correction: just looked at HL for the first time in ages. How is that dog not sniffing 52 wk low? SSK does not like HL.

Meanwhile, I'll be in the Basque country sipping Patxaran and blowing Yankee dollars on whole bonitos. Pailin would surely not approve!!

Never thought we'd actually see the day Greece gets booted from EU. And gold goes down. But so it goes.

I sooooo don't get this market in gold. Hold nothing. Worry not a thing.

Capitulation— the end is nigh. Except that thought is how you go broke in the metals market.

Elveda!

Tue, Jun 30, 2015 - 5:34pm
SSK
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Love me some HL

Gotta love it. So I dig into HL for 30 seconds and find out the CFO and VP (same guy-- that how they roll at HL) just dumped about a gazillion shares. Almost as if on cue for a rare SSK posting,

Tue, Jun 30, 2015 - 9:39pm (Reply to #40020)
pailin
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SSK wrote: Meanwhile, I'll be

SSK wrote:

Meanwhile, I'll be in the Basque country sipping Patxaran and blowing Yankee dollars on whole bonitos. Pailin would surely not approve!!

Hey not so fast with the generalizations! Pailin is close enough to the age to start burning up savings. Can't take it with you :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Wed, Jul 1, 2015 - 11:04am
csquared13
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Good to see ya'll back. I've

Good to see ya'll back. I've been around on and off lurking. Haven't been looking at the day-to-day action in PM's...I see I haven't missed much there lol.

SSK, I have a soft spot in my heart for MUX since it made me 100% once on a long trade. That ol' dog HL ended up stealing the only miner that I've held long-term. (RVM)

P, I went to the movies last night. Got to see this gem in 35mm on screen. Next month they're showing The Good, the Bad, and the Ugly.

“Everybody gets what they want out of the market.” -Ed Seykota
Wed, Jul 1, 2015 - 8:09pm
Sunnyboy
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Paradis
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Moved my limit...

JAL

I sincerely hope you are in profit, this last week the EUR/USD trade must have given you a neck cramp, it certainly would have had that effect on me.

What is clear is that I went from day trader to year trader so our timelines are almost at extremes to each other. I have been holding USD for the last year or so and have USD contracts that are coughing up over the next few months, so with a 40+% profit in EU terms (on 100k+) I am selling into USD strength (for a change). The way I see it is that as as my costs are in EU as long as I buy "assets" (solar panels, water purifier, studio flat to rent at 8% +++) I am banking my profit as these are 40% cheaper in USD terms (have no intention of holding the EUR for long).

My point is that as bad as the EU situation is, the currency dropped 9 months in a row and is now levellingish, for many people who are in my situation we will buy the EUR hand over fist at or close to parity with our extra cashflow. (wish I had done the same a few years back when the GBP was almost at parity with the EU).

No idea what the future will bring but 40+kEUR over a year is a lot of extra purchasing power for me :-)

glta

Woof

Sun, Jul 5, 2015 - 1:05pm
Dorothy
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Betfair odds on Greek referendum...

A friend rang me to say the odds had fallen to 1.18 to back on a No vote half an hour ago...

They're now below 1.10 (1/10) 1.06-1.09

https://www.betfair.com/exchange/plus/#/politics/market/1.119315327

EDIT:

And falling...

GLTA!!!

Mon, Jul 6, 2015 - 10:51am
Dorothy
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Long $Silver @15.702 (inc. spread)

We all know what I'm looking for here...

It's been a while since we saw a proper one!

randomness