Pailin's Trading Corner

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Mon, Sep 12, 2011 - 11:59am
SSK
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UGL at 110.95 and HL at 7.60.

UGL at 110.95 and HL at 7.60. Let's see how these buys work.

Mon, Sep 12, 2011 - 12:13pm
SSK
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HUI holds 610 or I am out.

HUI holds 610 or I am out.

Mon, Sep 12, 2011 - 12:25pm
stevy
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where can we get a live HUI

where can we get a live HUI price ?

Mon, Sep 12, 2011 - 12:30pm
SSK
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HUI here

https://stockcharts.com/h-sc/ui?s=%24HUI

It ain't good. Either we bounce off here, or it will get ugly. I've tossed overboard my HL and UGL nibbles. GDX is falling apart.

Mon, Sep 12, 2011 - 12:33pm
I Am The Unknown Comic
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Fun Time

Ok folks, here comes fun time. The 12 - 1 pm hour is the critical hour for any US treasury sale. The arrangement is that if there aren't enough buyers in the market, then the Primary Dealers (PD) are obligated to sop up the slop. These PDs are all the banksters we love to hate so much. They will sell anything to meet their obligations, and since PMs are up relative to other things, then they will take profits on PMs in order to raise the billions needed.

It gets more fun at 1 pm when the auction closes. At this moment, the PDs are free to do whatever they want with their newly purchased treasuries and that often includes immediately taking out the trash and flipping them to a greater fool, such as pension funds. They can then take the proceeds and buy whatever they want, which has been mostly stocks in the past year, but may also include buying back the same PMs they just sold - but at a cheaper price now.

Bottomline, the 12 -1 pm hour is often a nice buying opportunity for PMs. The 3 year (today) is the biggest ugly this week (2 year is the giant nasty followed by 3 year, followed by 5, etc). We have another auction tomorrow for the 10 year, and Wed for the 30 year. With operation twist being conducted, I expect some good buying opportunities, though they should be best today, then next best tomorrow, then least best on Wednesday. The challenge for me will be keeping enough dry powder.

Good luck trading to all, and remember that my thoughts are worth exactly what you paid for them. Trade on your own.
Mon, Sep 12, 2011 - 1:18pm
flaunt
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Not a very convincing bounce

Not a very convincing bounce off that lower trendline on the daily gold or silver charts. In fact, silver broke the uptrend line. It needs to get back and close over it quickly.

It's your suicide if you base actual trades on anything I say.
Mon, Sep 12, 2011 - 1:47pm
rotbrador
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can't log on

hope our site was not under attack -- could not log on for hours until now.

Mon, Sep 12, 2011 - 1:50pm
SSK
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Turd's site was down on my

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?

Mon, Sep 12, 2011 - 1:52pm
atlee
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dollar

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.

Mon, Sep 12, 2011 - 1:55pm tallydynasty
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Tallydynasty - corn back up

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.

Mon, Sep 12, 2011 - 2:18pm
SSK
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Lesson learned from early

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.

Mon, Sep 12, 2011 - 2:19pm
rotbrador
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1800

1800 barely holding, silver broke 40

Mon, Sep 12, 2011 - 2:25pm
SSK
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buying

buying

Mon, Sep 12, 2011 - 2:27pm
rotbrador
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agree

think this is a buying dip

Mon, Sep 12, 2011 - 2:30pm
SilverWealth
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dollar

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.

Mon, Sep 12, 2011 - 2:32pm
atlee
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soon

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.

Mon, Sep 12, 2011 - 2:38pm
SSK
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Less interested in the metal.

Less interested in the metal. But the miners back there were a screaming buy. Already flipped NGD, CDE, and HL.

Mon, Sep 12, 2011 - 2:40pm
flaunt
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I agree with those saying DXY

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.

It's your suicide if you base actual trades on anything I say.
Mon, Sep 12, 2011 - 2:43pm
flaunt
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Now it looks like ES is

Now it looks like ES is pulling up SI. "Risk on," until it isn't. :)

It's your suicide if you base actual trades on anything I say.
Mon, Sep 12, 2011 - 2:44pm
SSK
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As long as GDX holds 63, I'm

As long as GDX holds 63, I'm buying and flipping.