Yesterday NUGT hovered around 8.80 land most of the day until the endish, along with USD at 100.25ish, USD/JPY was 113.50+ ish. Netdania charts XAU/USD was around 1175, XAG/USD had a pretty wide range in upward trend from 17.10s to 17.20lows. GDX was 21.60s most of the day until the endish where is settled around 21.40 land.
This morning I awake to find NUGT at 8.78 per while USD is at 99.88, USD/JPY is at 113.38, XAU/USD at 1176, XAG/USD at 17.11, GDX 21.60ish.
Could this be the setup for the USD and USD/JPY to come back down? Finally? IDK but I like the setup. NUGT position taken at 8.78 per.
IMO NUGT breaks into 9 handle today. We shall see.
well chit...sometimes you have to pay attention to the news and not put so much focus on the charts.
heading out for my rough country hunt tonight...hoping to put some deer in the freezer now that we actually have some winter temps in south texas. highs in the 40s and lows in the high 30s should get the deer moving. went 2 weekends ago and it was a waste of time, high 70s and no movement. it's a poor man's hunt, no feeders no motorized assistance, hike it in hike it out, track and scout, then camp on an active game trail and hope for the best.
i decided to post my comments here on armstrong because posting at the set up causes a reaction by the host. He should not quote about armstrong from 30 years ago and try to take a look and listen to what he is doing today. I can't understand everyone but i understand armstrong now that ive been following him.
I've been following armstrong for a while and i realize some on this board have a specific bias toward Armstrong --i guess we all have bias's. But at the end of the day his track record has been unsurpassed For those that haven't spent the $150 for ask -socreates then you may not understand where I' m coming from, but i've selected a few markets from Armstrongs service and it has been spot on. I'm starting to use it to trade a little. a dabble and a dibble. it's clear. and i don't have to try to read between the lines.
Armstrong gives the numbers for Gold and i just have to say i been fortunate to listen to him. I understand him. some may not and some may better understand others. I'm not making an advertisment for Armstrong just saying that it's worth to look under the hood and keep open to perspectives of others.
There has been so many wrong calls on the blog and this blog. Even on this blog we have seen calls for gold to go to $1500 at one point many months ago We have heard the bear is almost over then a turn that the bear is not over....lot's of different calls
Armstrong has continuous indicated that gold could below $1000 while others indicated that is unlikely --without giving information that i paid for but ask-socreates has call the monthly and quarterly turns and was spot on back in December the pivots would have made me good money if i too action.
Armstrong has called the stock market and dollar a long time ago.
I take a look at these boards once in a while and still can't decipher the codes. But that's me and if other can that is great. Lot's of smart people out in the world. some of those smart people have lost people a lot of money.
will gold go below $1000 into next year. a few more weeks. we have to see what the year end closing will look like.
If you don't read armstrong or have not read his reports etc it will be hard for you to probally comment. He's not perfect as well, but by listening to him you may have made good $ or save d yourself from losing $s.
Do any of you know how to contact Gold Dog?
A few years back he really blessed me, and I want to do the same to him.
If you know how to contact him, would you have him e-mail me here at TF Metals?
I will be very grateful, and I suspect he will be, too.
JazzTalker thanks for your 2 cents on Armstrong's paid service. Glad it's working out for you. Now that your doing actual trades let us know again in a few months if you still think he's got it far more right than most.
Jazztalker: I know Palin has been open to MA's stuff for a good while. I'm agnostic on him. How much is the service? What I like most about your write up is that you say he gives clear info and you don't have to read between the lines. So many of the prognosticators out there make you read between the lines. My guess is that gives them wiggle room in the right/wrong prediction aspects. So why pay if the direction is ambiguous? I did pay for one service, I wasn't very impressed due to the difficulty of figuring out what was being said, I'm no longer interested. If they can't speak clearly why pay?
OT Hunt update: No feeders, no pregame setups except for a one day prior to hunt scout, no guides, no aids like corn etc...all on foot and all in tough South Texas scrub brush country that is not manicured. Federal Game Warden is serious about enforcement of the rules and not respecting them will result in a hard hit to the wallet. I spent scout day and the first day of the hunt hiking game trails, tracking, watching movements, and checking for treeline crossings at natural choke points. Found one right on the boundry of the Aransas National Wildlife Refuge near a natural barrier and watched for 2 days...sure enough, out came a decent sized deer for ANWR. At 224 yards according to my range finder I hit him with my .308 right above the front shoulder blades in the spine, instant drop without messing up the internals...73 pounds after field dressing. Taking a deer out of there is a big deal so my man card is pretty pumped up every time I walk by my cooler at the back door. Feels good cuz I won't do Texas lease hunting due to cost. I've hunted there 5 or 6 times and have taken 2 deer at 2 different spots, both weighing 73 lbs after dressing and both were spike bucks.
GOLD/SILVER: Either the setup from last year's FOMC raise will repeat or it won't. I'm on the repeat side of things. Since the election it has been very very tough and not much is making any sense...that leaves pattern recognition. But that was the same the end of last year too. I'm setting up for the repeat but it honestly feels like roulette...20000 Dow? Really? Interest rates up? Really? Everything doing great? Really? Trump the savior of the US economy? Really? I'm skeptical of it all since I don't see how the guy can undo decades of mismanagement. We shall see....
THE MARKET CAN REMAIN IRRATIONAL LONGER THAN YOU CAN REMAIN SOLVENT.
tonym9 wrote: I'm skeptical of it all since I don't see how the guy can undo decades of mismanagement.
Correct. Total collapse still on schedule.
Anyone taking positions before Fedlines ??
Long or short ??
My position should be on the sidelines, but....
IIRC patterns before events there always seems to be a rise and then the hit...i'm playing both sides. up first, then down, then up after the shock is my WAG
did the at first up (small position), had to skip the the down (which sucked when I checked it), and now playing for the back up...NUGT 6.36 per (might be a little early, but am looking for a relief rally).
missing that DUST ride really really sucks, but couldn't watch it...ugh
What is True North?
Liking the look of the 118 level USD/JPY. If it can hit a wall there I'd be very very excited. Not counting on it but a man can dream. USD 102.87 as I type...encouraging.
Today is a big day. Maybe, just maybe, gold can find some footing here. 1120s are starting to look better.
It can all change in a momen'ts notice tho
sold the 6.36 NUGT for 6.21 iirc after the drone/china deal hit the wires and popped NUGT up from 5.80 land. i'll re-eval monday for possible re-entry into NUGT at mid to hi 5s. just wasn't feelin it today
usd/jpy looking encouraging this morning at 117.18. BOJ announcement coming. In NUGT at 6.08
sold the 6.08 NUGT in aftermarket last night at 5.98 per. This morning I awake to find the BOJ talked up their economy but basically stood pat. USD climbs to 103.46 and is currently at 103.39. USD/JPY hits 118.24 and is currently at 117.84 while gold is at 1133.80/silver 15.86 per netdania. NUGT bid was 5.79, now up to 5.81 in premarket.
2 days in a row my entry has been too early/high for the day's trade and I have sold end of day for a combined .25 ish per share loss.
I like that USD/JPY couldn't hold 118 land but the USD at 103.39 gives me pause.
No premearket entry today...will hold for the open and about an hour in will see what level NUGT is at, plus I'm not sure what my workday has in store for me today so I may not be able to watch it. I entered a regular hours LBO of 5.44 just in case I can't get to the computer and it dips on the open.
FWIW DUST is high 68's-low 69s.....just for reference 11/9 at 530am DUST hit 30 per share premarket while NUGT hit 14 per share...then the ugly drop started.
adjusted the nugt LBO to 5.16...this has the look of a 10% down day, don't like the charts at all
looks like USD/JPY holding 118 is becoming an issue. on the dip to 117.99 I entered NUGT at 5.67 after watching it get to low 5.50s....prepare for blastoff of USD/JPY to 120land lol
this is a quick in/out only USD still 103.48 which gives pause, but we will see....I keep looking for a relief rally in pm and not getting it
tonym9 wrote: ....prepare for blastoff of USD/JPY to 120land lol this is a quick in/out only USD still 103.48 which gives pause, but we will see....
this is a quick in/out only USD still 103.48 which gives pause, but we will see....
The trend has been riding for a while, nothing goes up or down forever...meaning any sort of contrary news (to the current paradigm) should result in a lot of newbie weak hands being shaken off (scalped) by steadier hands. And of course, if nothing else, there is the First Trading Day asset allocation that will occur shortly too. There is never a shortage of johnny-come-latelies looking to ride the waves that have already crested. Just sayin... ;)
With that, give me 10% off the Dow and I'm in the ride into 2018 and Armstrong's 40k (lol from where I sit today!)
yep, agree P...just noting my 'perfect' timing of late which has been anything but....seems like i've been snakebit lately and as soon as I buy or sell the opposite happens that I want. USD/JPY 120 was sort of a joke, but not really...I'm expecting anything and looking at all of it more and more skeptically....especially this Trump Rally.
118 USD/JPY is looking more and more formidable. Of course all it takes is a zoom or a waterfall...these days who the hell knows...it feels more and more like gambling and position management and stop management and taking quick profit management more and more and more...
With that being said I sold NUGT at 6.20 today on the pop. Currently flat and awaiting a drop/entry point in hi 5s again
I still do not see how the hell Trump being elected can result in such changes to the market based on that fact alone. He has not been sworn in...he has not presented a budget...he has not specifically said what infrastructure spending he wants...CONGRESS HAS NOT APPROVED ANY SPENDING.
...but what the hell do fundos mean anyway, it's just created from thin air anyhow....party like it's 1999 people...oh wait, I did that already...party like its Trumptime2017 and dow 20k....yippeeeeee....meanwhile every taxpayer owes 167k to Uncle and a few % points up on bonds and the hit to the #'s will really start to bite....yippeeeeeee! /sarc/
Today has the look of a monster DUST day. Yesterday was able to get 3.06 out of DUST with 3 trades before the afternoon drop, gave up 1.00 on that one so still netted 2.06 on the day. Today's set up is even better. DUST was hit yesterday pretty hard in the afternoon, today the USD is up and USD/JPY is up...Gold/Silver haven't really reacted yet. Miners up in AUS by 2%+ so this is the only crosscurrent.
USD at 103.31 high this morning from 102.96 yesterday and USD/JPY up to 117.74 from 117.30s....might try 118s again (expected fail there)....but am still expecting a downdraft in Gold today.
In DUST premarkekt at 60.20....we shall see, but I like the setup...mental stop is 59.00