Pailin's Trading Corner

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Mon, Jan 23, 2012 - 6:02am pailin
D E
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WTI

Caught a nice bid after Euros announce Iranian sanctions to phase in. Knowing this is more bark than bite, sold into rally. All flat now.

Long Euro would have been nice, but at least I wasn't short it this time...

Mon, Jan 23, 2012 - 8:10am plunder
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Thanks Plunder I see I got

Thanks Plunder

I see I got the price wrong. It is -25 cents from Friday, so $1.80. I must have used the APR30 close of 3.05 to get $2.80. Equiv to SLV at ~$30.50.

Mon, Jan 23, 2012 - 8:54am
Rico
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The current pullback in the

The current pullback in the PMs this AM is the healthiest thing that could have happened, after Friday. It's consolidation, and gives the fence-sitters yet another opportunity to get in the game.

Mon, Jan 23, 2012 - 9:21am
tonym9
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EUR/USD breaks 1.30 and

EUR/USD breaks 1.30 and Silver/Gold go down ????

Appears the correlation still has healing to do.

Choppy days ahead. Be nimble.

"No! Try not. Do, or do not. There is no try." -Yoda Levitation will levitate until levitation doesn't levitate. Rates be the key matey.
Mon, Jan 23, 2012 - 9:22am
SilverWealth
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thanks Titus

sold GLD at 2:30 Pacific a.m. now rentering and scaling in long.

Bias is long thru Tuesday at least for all intraday stuff.

Seeing higher Silver to 33.75 area, now as I write this the Cartel has come in with a great pulldown right more or less on schedule. Many thanks for that.

Mon, Jan 23, 2012 - 9:25am
tonym9
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not seeing much in the way of

not seeing much in the way of volume still on netdania. anyone finding different info for the silver spot?

"No! Try not. Do, or do not. There is no try." -Yoda Levitation will levitate until levitation doesn't levitate. Rates be the key matey.
Mon, Jan 23, 2012 - 9:33am tonym9
pailin
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tonym9 wrote: not seeing much

tonym9 wrote:

not seeing much in the way of volume still on netdania. anyone finding different info for the silver spot?

If Netdania is only showing COMEX/GLOBEX (as I suspect), then we can't trust volume anymore. Why? After all those margin hikes and MFG, the silver trade has gone elsewhere. At least for now. But we know it's still trading in volume, we just can't see it on Netdania. I'm pretty much ignoring the volume at this point.

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Jan 23, 2012 - 9:37am
Silver is money
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Hey Rico

What do think about natural gas here for a quick pop (nothing game-changing) for a few percentage points?

Mon, Jan 23, 2012 - 9:46am
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Volume

I was reading a Forex trading expert a week ago saying that it is too easy now for the big boys to hide the volume. That he said volume is almost useless now. He was talking about a lot more than just gold and silver.

I am almost always wrong. But the fun in life is those few times when I am right.
Mon, Jan 23, 2012 - 10:08am
pailin
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PSLV

Premium at 8.62% - a friggin' steal!

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Jan 23, 2012 - 10:24am
SilverWealth
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Granny

Granny resold SLV after buying off Titus 6:30 a.m. Pacific target at beat down levels.

Now looking for some retrace to rebuy, who knows.

Target higher at SI 33.75 level, 33.30 some resistance. Thing is in John Holmes country, difficult to say. The Holmes boy is back chasing Granny all around the Grocery aisles down at the local Piggly-Wiggly.

Mon, Jan 23, 2012 - 10:46am
Rico
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SIM, Nattie feels like an

SIM,

Nattie feels like an oversold bounce, which is fine with me. The bloodbath isn't over, though--the wolves want to see that 1 handle (just a momentary dip below 2, to say they did it) before they stop the carnage. So, maybe another opportunity to short here (short-term trade)?

Mon, Jan 23, 2012 - 11:06am
Abraham Bernanke
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Silver and the markets

Anticipating 1 more reasonable PM pull back then it's time to back up the truck!

Edit to add below info!

May I strongly suggest you look here at the site which also would agree with T DeMarks count.

AMAZINGLY IT WAS POSTED 55 DAYS AGO AND LOOK HOW ACCURATE IT HAS BEEN!

Basically the conclusion says

Conclusion

Lindsay’s methods came within three trading days of targeting the end of what he called a Sideways Movement, or the beginning of a bear market, on July 7, 2010. They were the key to our forecast of the October 3rd bottom on either Friday September 29 or Monday October 3, 2010. Given all the above, we are confident that the high of this bear market rally will fall on January 23, 2012.

SWAGER on. Silver - Wine - Art - Gold - Energy - Real estate
Mon, Jan 23, 2012 - 11:16am
redwood
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So Abe, to follow through

So Abe, to follow through with your posts this w/e, expect a pullback of significance this week, and then look for a rebound in the next few weeks. Have I got that right?

Mon, Jan 23, 2012 - 11:21am
SilverWealth
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Abe

If you are confident in the Lindsay analysis then why are you backing up the truck?

Did you misprint there?

Is that the Lindsay Trident 3 wave system?

Mon, Jan 23, 2012 - 11:21am
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Added more JAG at 7.02. More

Added more JAG at 7.02. More orders in at 7 and 6.97.

Added TRX average price 2.93.

Looking to short LNG if it cannot break 11.30's.

Nibbling EXK.

Very bullish going into Turnaround Tuesday.

Mon, Jan 23, 2012 - 11:33am
SilverWealth
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Granny

Granny reselling SLV into these highs.

SSK have a look at some volume coming in to CDE. If we run tomorrow it could be strong and a leader.

Mon, Jan 23, 2012 - 11:37am
SilverWealth
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silver and gold

SI projected to 33.30 then 33.70, bullish.

GC projected to 1684 then 1690. Will be buying any waterfalls, pullbacks will be bought in smaller increments. Who knows?

Overnight trade into Happy Tuesday could set up very nicely if we get thugish Comex beatdown into Globex. Then Granny will buy that more aggressively.

Mon, Jan 23, 2012 - 11:53am
Perfidious Albion
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Phew.

After getting caught out last week with a misguided buy at best todays rally finally tipped the scales and bailed for a small profit at $1681

Looking for a pullback on the London open to get back in or steel myself to make the move and open a forex account.. decisions decisions...:(

Any UK based traders have any suggestions or advice..

Tight lines to everyone else

Thanks

PA

Humble newbie listening and learning. A lemming doesn't last long these days..
Mon, Jan 23, 2012 - 11:55am
Abraham Bernanke
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Some cut pastes for ye all

(Apologies delay had to skype chat with my son)

Lets View Gold first with its Nov prediction

And todays chart (still showing signs of the plunge phase !!??)

Gold is in a Transition from the "Bump" Phase to the "Run" Phase 01/22/2012 The gold index is still in an intermediate-term “Bump-and-Run Reversal Top” pattern and it is in a major transition from the “Bump” phase to the "Run" phase. During this transition period, gold could test the Lead-in Trend line several times. If prices break below the Lead-in Trend Line, gold would be in the "Run" phase and the next price target is 1420 at the 1st Target Line.

Silver is in the "Run" Phase The silver index is still in the "Run" phase of the "Bump-and-Run Reversal Top" pattern. Silver has been a dead cat already and the downside price target is project at 27 on the third target line.

To me Silver would have to take out the 2nd target line $33:74 price to not make this move a lower high as has happened previously on the plunge phase. We appear to be stagnating on the hourly silver chart right now and as above today is the 23rd and as this has been a run up, what will turn around Tuesday have in store?

Buckle Up! The broad equity market has been moving in a slow upward incline with low volatility for several weeks. It is building up a seven-week short-term rising wedge, and looks like the lift hill of a roller coaster. Today is, 1/23/2012, is the Chinese New Year, the launch of the Year of the Water Dragon. Happy riding.
SWAGER on. Silver - Wine - Art - Gold - Energy - Real estate