Turd's site was down on my end for a while there. Anyway, I'm sitting on a lot of cash after selling so much on Friday. I've thrown out all my spec plays from today. So, bring it lower. I will continue to catch any reversal (and probably get burned), but it will be small buys without follow-up and quick sells if it fails. I'll let the bottom catchers keep averaging in. Good luck (and don't let your new purchases put a crick your neck as you look up at them from the bottommmmmmmmmm).
So, will we see a GLOBEX rally here?
dollar strength is killing us. if silver breaks from here, 38.75 target. If gold breaks below 1791 spot, then 1700.
I think the dollar should take a breather but chart looks like could go to 79.
charts have been sell all day. had trouble getting on site.
Good trade on the corn this morning. Corn up 9c now, 21 c range today.
Frost still in the forecast for 6 midwest states this Thur-Fri.
Lesson learned from early 2009 and spring of 2010: you can't fight the dollar. It will destroy you. Dollar strength is the actual kryptonite that everyone like Cramer like to say gold is.
We've seen a good sell-off here. I've re-bought NGD in the 13.40's and HL at 7.43.
1800 barely holding, silver broke 40
think this is a buying dip
Bowel-movement Ben and Euro-trash banks are combining for a big move in dollar.
Nothing for Granny to do but spread her buys out and make sure they are in increments and none too large. Too much volatility to call the bottom and anyway we all know he is living in the White House.
Expecting GDX and GDXJ to close at low with the momentum so down. Tomorrow is Turnaround Tuesday and today is the end of the Full Moon. This could well provide impetus for a confusing 50% bounce of this selloff.
Dolf is not nervous and Granny is out in the garage now souping up the purple GTO, changing out an oil pan and listening to Elvis on the A.M. transistor. If your in the metals today is par for the course and its called volatility.
Will be adding EXK at close among other candidates. Many are now sold down to 10 day lows. Granny will not consult Ms. Kardasianoff the fortune teller tonight regarding the price action since she upped her own asking rate to that of a NYC psychiatrist due to hyperinflation and Bedoin demand. Granny is horny for the Holmes boy and for a night out late in the GTO with Dolf, racing away from the idiot highway dick parked under the old oak by the Skelly station and obsessed with his back issues of "Juggs".
Such drama.... to be continued.
not yet soon. maybe 39.40 maybe lower. My charts are not giving any buy signals.
cinch gold dips below 1800. Then we get to see how strong demand under $1800 versus usd.
Less interested in the metal. But the miners back there were a screaming buy. Already flipped NGD, CDE, and HL.
I agree with those saying DXY is standing in the way of metals. Still, I think DXY needs to fall back and fill the gap which should help out the metals a bit. In fact, I have a buy order down there. Wish I'd had the guts to take a good ES short setup this morning. Always second-guessing myself but better opportunity missed than money lost.
Now it looks like ES is pulling up SI. "Risk on," until it isn't. :)
As long as GDX holds 63, I'm buying and flipping.
silver a buy at this level or just a dead cat bounce.........?
Hasn't produced a higher high since 10 am. Today is just one of those days. Might even be one of those weeks. I'll sit on my hands, my cart is full, and read SSK posts about mad trading in minerrs I don't understand. Pretty sure he's making money doing it...so more power to ya SSK!
I think we get one more bounce here before close. If correct, I'm going to take that as a gift and trim.
it's bouncing, see it will do that into the close
OK I'm a bad cat and I know it. I bought more AGQ just now. I will not buy any more today unless we get a nice waterfall. Cash now at 20%. Don't tell Mrs. Cat - she would freak because she follows the news and is certain the world is falling apart (scaredy-cat!). I keep telling her we only get this kind of bad euro news here in the states during 2 year or 3 year treasury auctions. She thinks I'm as looney as the Canadian dollar, and I think she should try wearing a tinfoil hat instead of watching CNBS and O'blammy speeches.
Hate to say it, but this feels like a breakdown, which, in retrospect, started Friday afternoon. This is not some "attack by the Cartel". I had to beat a rear-guard action the whole day, cutting risk and taking losses. Total pain in the ass--but I am not going heavily long the PMs again, until I see some evidence that people want to buy them.
I'll spend the evening looking at longer technicals, and see what it looks like. It might take a few days for some clarity on all this. I have been sliced up before, trying to trade cross-currents like these, and I want to hang on to my profits.
Dammit--I hate sitting on my hands...
Scotty: "I don't know how much more she can take, Cap'n!"
Bones: "I'm a doctor, Jim. Not a miracle-worker!"
Kirk: "Drop shields....fire all phasers & torpedoes! Get us out of here, Sulu. Maximum warp.....engage!"
Sorry, folks. Needed a breather so beamed back to the 70's for a minute. I feel much better now.