Market Analysis, Investments and Trades: For Rent

[TraderRich]

Hi folks. My life is becoming increasingly busy away from the boards and the lack of interest here by many people I thought would come and read has prompted me to shut this down. I'll continue to post charts and opinions on the boards of stocks that I'm invested in as I have time.

Take care and live well!

Rich

[richard.w]

Good article. Too many people not willing to do the right thing for various reasons, including their own selfishness...

[TraderRich]

Big gap on QSURD (QRM.V) today. About .50 right now.

[Sidney]

Okie dokie. Thanks.

[TraderRich]

Canada is closed for their Thanksgiving. US markets are open tomorrow. The next market closing's in the US will be Nov 25th for Thanksgiving and Dec. 24 for Christmas Eve.

[TraderRich]

Futures markets are open right now. As far as I know the market is open tomorrow.

[Sidney]

Are the futures markets open tomorrow? I want to practice on CL.

[TraderRich]

If you like gold, you should listen to this http://www.financialsense.com/financial-sense-newshour

[TraderRich]

A good read. http://neithercorp.us/npress/

[TraderRich]

I think the geniuses have crossed that thin line well over into insanity. That's why I'll be leaving.

Off to play pincushion.

[Ex Blockman]

We have to earn money as best we can Rich through trading. Today's unemployment numbers and the pending collapse yet in housing is NOT going to help the situation out there for anyone. And unfortunately, with the individuals steering the US economy off the cliff, I like that we are unemployed in the correct manner. Pelosi said yesterday that the best stimulus is food stamps. A couple of months before that it was unemployment checks. What geniuses we have running the country today!


A doctor from Israel says: "In Israel the medicine is so advanced that we cut-off a man´s testicles, put them into another man and in 6 weeks he is looking for work"

The German doctor comments: "That´s nothing, in Germany we take part of the brain from a person, put it into another person´s head and in 4 weeks he is looking for work"

A Russian doctor says: That's nothing either. In Russia we take half of the heart from a person, put it into another person´s chest and in 2 weeks he is looking for work.

The US doctor answers immediately: That´s nothing colleagues, you are way behind us. In the USA (just over a 18 months ago) we took a person with no brains, no heart and no balls and put him in as President. He's surrounded with the biggest fools in any US Administration ever. Now the whole country is looking for work.

[richard.w]

Nice! It looks like my demo account with Mirus doesn't show afterhours trading.

[Ex Blockman]

LMBO!

[TraderRich]

Started trading silver futures (SI) last night...

BOT 1 SI DEC11 Futures SIZ1 22.685 2.31
SLD 1 SI DEC11 Futures SIZ1 22.755 2.31 345.38

BOT 1 SI DEC11 Futures SIZ1 22.745 2.31
SLD 1 SI DEC11 Futures SIZ1 22.790 2.31 220.38

BOT 1 SI DEC11 Futures SIZ1 22.655 2.31
BOT 1 SI DEC11 Futures SIZ1 22.640 2.31
BOT 1 SI DEC11 Futures SIZ1 22.595 2.31
SLD 2 SI DEC11 Futures SIZ1 22.665 4.62 340.76
SLD 1 SI DEC11 Futures SIZ1 22.695 2.31 320.38

BOT 1 SI DEC11 Futures SIZ1 22.675 05:44:00 2.31
SLD 1 SI DEC11 Futures SIZ1 22.635 06:05:38 2.31 -204.62

BOT 1 SI DEC11 Futures SIZ1 22.790 08:23:08 2.31
SLD 1 SI DEC11 Futures SIZ1 22.805 08:31:12 2.31 70.38

BOT 5 SI DEC10 Futures SIZ0 22.776 08:33:41 11.55
SLD 5 SI DEC10 Futures SIZ0 22.830 08:34:27 11.55 1326.90

SLD 5 SI DEC10 Futures SIZ0 22.826 08:35:29 11.55
BOT 5 SI DEC10 Futures SIZ0 22.802 08:36:07 11.55 576.90

SLD 5 SI DEC10 Futures SIZ0 22.815 08:41:45 11.55
BOT 5 SI DEC10 Futures SIZ0 22.800 08:42:03 11.55 351.90


I think I'm in love!

[TraderRich]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/6_Norcini,_Sinclair_-_Financial_Hurricane_To_Collapse_the_System.htmll

[Sidney]

Awesome, and I love Fringe! Still catching up on last season's episodes though.

[TraderRich]

Believe me, the F's, S's and T's are relatively easy compared to trying to trade futures. ES will drive you nuts because it's so heavily program traded. Oil futures are thin and very volatile. Gold is even thinner and silver thinner yet. BUT, you can make monster money if you get good without needing a million dollar portfolio. I made $1227 tonight trading silver futures while watching Fringe

I'm off to bed... take care.

[Sidney]

Haha, sounds like everything else available to day trade! Its all quite arse losing!

[TraderRich]

Hi Sid. Cool. I highly recommend you paper trade for a while then when you throw your money in start small until you adjust to the volatility. Futures can be very profitable but you can lose your ass so fast it'll make your head spin! (Speaking from experience) lol!

[Sidney]

Hi Rich, I'm reading up on trading Futures.

[TraderRich]

Bought one Silver futures contract (SIZ1 Dec '11) @ 22.685

[TraderRich]

Eco numbers for tomorrow...

MBA Purchase Applications
7:00 AM ET

Challenger Job-Cut Report
7:30 AM ET

ADP Employment Report
8:15 AM ET

EIA Petroleum Status Report
10:30 AM ET

[TraderRich]

ES near hitting the top of the channel...

[TraderRich]

Oct 5 (Reuters) - U.S. stocks added to gains on Tuesday, with the Dow industrials rising 1 percent, after data showed the pace of growth in the U.S. services sector topped forecasts

[TraderRich]

I can't help it. Oil has been good to me the past couple days and CDCH/MDMN are going to retire me 'next week'! lol

[Ex Blockman]

Don't give me your chit eating grin!

[TraderRich]

[Ex Blockman]

The pullback is waiting for CDCH/MDMN to sign their JV deal..... I hear it will be 'Next Week'.....

[TraderRich]

ISM Non-Mfg Index
10:00 AM ET

This will likely set the tone of the market today. ES is currently at the overnight high of 1141.25. We have Redbook out at 8:55 which might stir things a bit.

Oil is looking a little heavy at $82 here. It wouldn't surprise me if oil drops down out of that symmetrical triangle. Just a hunch that I won't be trading on without confirmation.

[TraderRich]

Gold (GC) chart

Gold hits a new high of 1330 overnight, breaking up out of the rising wedge formation. Looks like the pullback I had posted about was more wishful thinking than anything. I shoulda known after hearing a couple of other analysts looking for the same thing. It was pretty much guaranteed to do the opposite of what everyone was thinking, and I suspect most everyone was thinking what I was, which is a good enough reason to fade the majority opinion. Oh well, it just makes my CDCH/MDMN investment that much better

[TraderRich]

60 minute Oil (CL) chart

Symmetrical triangle with a $1.90 measured move whichever direction it breaks. I'll definitely be watching/playing this one.

[TraderRich]

Quick ES update

ES came down and tested the new trend line for the 4th time today. In this chart, you can see that I copied that trend line and, lo and behold, it fits the tops of three candles perfectly. So we have a new channel to watch. The top of that channel tomorrow will be right about at 1158.00. Maybe the ISM data tomorrow will give us a pop to that level.



Here's the eco data for tomorrow:

ICSC-Goldman Store Sales
7:45 AM ET

Redbook
8:55 AM ET

ISM Non-Mfg Index
10:00 AM ET

[richard.w]

Personally, I wish the governments of the world would take these terrorists more seriously, as if they really cared about their citizens, and wiped these terrorists off the face of the earth. Of course, that would all hinge on our leaders actually having integrity and the best interests of those they serve at heart. Wishful thinking...

[richard.w]

Sounds good.

[richard.w]

Cool.

[richard.w]

Printed this so I can read it a little later this evening or tomorrow.

[TraderRich]

Thanks. Just got back from the movies. I'll do a quick update after I eat something tonight.

[TraderRich]

Yes. Early stage rare earth. I don't know much about it yet though.

[richard.w]

Nice write up.

[richard.w]

Very volatile. This is one that you are accumulating, though. Correct?

[TraderRich]

Bought UEX.TO(UEXCF) @ $1.06 CAD
Added QRM.V(QSURD) @ $4.55 CAD

[TraderRich]

http://www.businessinsider.com/state-department-europe-travel-alert-2010-10

[TraderRich]

Added URRE @ 1.13. Expect it could go lower and find support around .98 - 1.05.

[TraderRich]

Here's What You Need To Know About The Politics Behind Rare Earth Metals

http://www.businessinsider.com/heres-what-you-need-to-know-about-the-politics-behind-rare-earth-metals-2010-10

[TraderRich]

Good morning

[BrickTop]

Good morning Swingers....

[TraderRich]

Gold Futures (GC)

Gold hit my 1322 target on Friday. I caught a nice ride on the immediate drop after that upper trend line of the wedge was hit. Now we get to see if there's a retracement down to the 10ma, 20ema, the lower trend line, or is it going to have a more significant pullback? I believe it might, but I'm not prepared to bet a lot on that one yet.



I'm keeping an eye on it and will post as anything significant occurs. Obviously the trend has been to pullback and bounce off those two MA's or the trend line.

[TraderRich]

CL Futures

Nice break out of a huge triangle. If this plays out like a normal triangle breakout, the measure move is to $102.61, give or take a couple dollars. If the world economy picks up, as appears to be happening in China and India, then it's not at all out of the question that we hit that target, and eventually I would bet a significant amount of money that we will. The big spike over the past three days has been China buying oil. I wish I had caught some of that, but there'll be more opportunities.



The weekly chart is showing a Fibonacci retracement grid between the 147.27 high back in mid '09 and the $33.20 low from early '09. Note that the 62% retracement of that range is a buck off of the target of the triangle breakout.

[TraderRich]

Market Update (ES)

Last week ES traded in a narrow range, basically between the 1129.50 support area and resistance around 1148. The first chart up is the weekly interval, showing the advance out of the bullish wedge (outlined in yellow). The orange line is the neckline of the IHS formation, which we could pull back and test but at this point I'm doubting it. If we should pull back there is a gap to fill at 1105.75 to watch for support. It was a lot of work to get the price where it is so I really don't think it'll pull back that low at this point, but I've been wrong before. There's only a little more than a month for this administration to prop up the markets to improve investor sentiment so I expect that we'll begin moving higher with more vigor pretty soon.



Next up is a daily chart without moving averages just to clean things up a bit. Here you can see that we already tested the top side of the orange neckline so we'll likely not revisit it. The last 5 candles could be considered a flag, albeit a messy one, so maybe there'll be some news to give us a good pop at some point during the week.



The next chart is the same, just showing the moving averages and new trend line support started since the gap up three weeks ago. You can see that the space between the 10ma and 20ema is widening and the 20ema crossed over the 200ma last week as well. We're also about two weeks away from a golden cross of the 50ma over the 200ma which should get some hype.



As for eco numbers this week we have one on Tuesday but Thursday and Friday will be the big days. Maybe we'll get a retracement going into Tues or even Thursday and have a strong end of week. That's what I'll be watching for.

[TraderRich]

Market updates for ES (S&P 500), CL (Light sweet crude), GC (Gold) and SI (Silver) this evening...