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Rule # 4: Buy strength and sell weakness, not the other way around....???
I disagree with this because it depends on whether you're trading a bull market or a bear market. In trendless markets, you find yourself channel trading, buying weakness and selling strength-- only in strongly trending markets we buy into strength.
12 Trading Rules
-- for a full explanation of the rules click: http://hellotrader.com/
Rule # 1: Let your winners run, cut your losers short
Rule # 2: Don’t add to losing positions
Rule # 3: Don’t fight the trend / tape
Rule # 4: Buy strength and sell weakness, not the other way around.
Rule # 5: Trade your personality
Rule # 6: Plan your trade and trade your plan
Rule # 7: When the reason for entering a trade is no longer valid, get out
Rule # 8: Don’t be the weak money
Rule # 9: Keep a trade diary
Rule # 10: Never risk more than 5 percent of your account equity on a trade
Rule # 11: Risk a fixed percentage of capital on every trade
Rule # 12: Focus on market selection
the old man Zabel takes the stage...!
I'm actually quite happy for Danielson for salvation the Vuelta after a bad first week-- decent tour for Disco.
The Commodities Report -- Gold
Gregory Wilkins, president and CEO, Barrick Gold
Ian Telfer, president and CEO, Goldcorp; Sean Boyd
Sean Boyd, vice chairman and CEO, Agnico Eagle
[ scroll down to 11:30 AM ]
http://www.robtv.com/shows/past_archive.tv?day=fri
Andy, here's another chart-- this is almost insane when considering how profoundly oversold you might think the silver market is, but it's not-- according to my favorite oscillator the CCI ... note that SLW can easily push 300 in either direction.
In Catholicism, you have to give to the church weekly
I know this has already been responded to-- but I'll add my two cents anyway.
If it weren't for the Catholic church I would have never been baptised, never known what it meant to be "born again," born into eternal life.
...as a Christian you are born twice and die once.
...without Christ, you are born once physically but die twice-- physically and spiritually.
John 3:6 : What is born of the flesh is flesh and what is born of the spirit is spirit.
John 3:15: That whosoever believeth in him should not perish, but have eternal life.
Can you put a price on that...?
yes, good point-- I knew this and forgot to mention it the other day...in fact, I did something really cool a few days back for a stranger and I haven't even told my wife about it. It actually happened before the nasdaq took off on this fabulous run and for some not so mysterious reason I was prepared to profit from it.
anyway, there was another news story where he finally marries his girlfriend, but they've been living together for about 30 years. It was a non religious private ceremony, presided over by a county judge....nevertheless it sounds to me that he's tying up loose ends before he finally dies.
whenever we see more than 3 billion shares traded I start looking for a pivot point-- I'm not so sure it was just triple witching and going by past data from the Almanac-- I'd be cautious to say the least.
That said, great trend strength
XGD.to -- big volume day to the upside, but I lost money on the positions I bought today-- not exactly easy money, at least not yet. With the drop over the past 7-days there's very little trend strength considering the scope of the correction-- happened very fast, and without mercy-- we could very well see a fast and furious bounce because there's no way you can say the trend is your friend when the ADX is still asleep.
Fed meets on Tuesday
so what do you think?
are you bearish or bullish going into next week?
or have I become too bearish...???
sold Eldorado Gold (ELD-TSX) @ $4.78 (-2.5%)
I'll try again on Monday...
mixed feelings about going into the close
The Almanac says that the week after triple witching in September the Dow is down 13 of the last 16 years with major losses.
fwiw, I don't like today's action in the broad markets-- I'm not so sure I like the action in the PM markets either ... I'm not convinced that metals and the broad markets are now disconnected.
I'll have to see it to believe it-- need confirmation before really getting aggressive on buying back into these markets.
for now I think that cash is the best bet.
Home Depot...?
FOMC meeting next week on the 20th
the daily chart looks overbought-- bigtime, with not much in the way trend strength ... double-top in the hourly chart.
just looking at the hourly -- I'm thinking the bottom is in
no, it means that I'm trying to catch a bottom
gold stocks in the green...???
I'm going against everything I believe in by making this trade.
Bot Eldorado Gold (ELD-TSX) @ $4.90
Frank Barbera's GST MarketFAX
Newsletter: September 14, 2006
http://www.grandich.com/docs/barbera.09.14.06.pdf
actually the week isn't over yet-- why does it feel like Friday...???
anyway, Triple Witching day tomorrow.
God looked after me well this week-- considering the amount of carnage I finished the week in the money.
RSC.V is showing strong EOD volume.
be careful with this one-- I'm "pumping."
<vbg>
ELD.TO in the green...?
annoying, yes ... I have other charting systems so it's not life threatening-- but SC is my favorite and it's always a pain in the ass when it goes down and I can't see the final hour of the trading day in technicolor.
XGD.TO broke trendline support about 5 trading days ago in dramatic fashion -- I reckon there's the possibility of another 7% downside before the pressure lets up.
keeping in mind that's T/A on an ETF, who knows how far a small cap without professional support volume will fall.
down again, eh...?
C$ is still strong -- think M&A
-- I think there's enough momo and trend strength to carry the broad markets higher
FDRY, GLW and WTO.TO are the stars in my portfolio today
my bet is that this beating will continue through to the end of Monday -- no hurry to buy until then.
yes-- and that's why I warned you when I said that there's the possibility of seeing ng going to zero because of record inventories
so a big RSP account and a cast Iron gut is the order of the day-- margin accounts need not apply in this environment.
same here...
big volume (again) on UTS and WTO
CNQ...?
looks good here.
I like GLW
reverse H&S
ADX above 30
and I'm still long BRCM and FDRY
gotta question
a while back Warren Buffet gave the responsibility of giving away his wealth to Bill Gates-- saying that dying poor should get him into heaven.
Mark 10:25: It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God."
at first blush I thought it strange because I thought the only thing required for eternal life is the belief that Christ died on a cross for our sins.
John 11:25,26: I am the resurrection, and the life: he that believeth in me, though he were dead, yet shall he live: And whosoever liveth and believeth in me shall never die.
So what's the problem with accumulating money, having fast cars and a good looking wife? There's a lot of that in America-- which is why I thought it was in God's favour...?
God bless America for the meek shall inherit the earth...????
Thanks, I'm curious to see where he stands at the moment ... I think the markets might be showing us something new, some massive cup and handle formations in tech stocks...but I don't quite trust what I'm seeing.
when I said consolidation-- I meant M&A
energy was redhot today-- C$ remains unbelievably strong.
I expect more consolidation.
I'm still negative... we need a high volume break-out to negate the high volume break-down...for now we're still in a downtrend.
...maybe tomorrow...