Good Morning EST, looks like Nat Gas bounced off that 2.611 line.

You mean this news here?

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=112511236

$2.611 is not only the gateway to lower prices it's also the launchpad to the top of wave #3

If it moves higher off the bottom of the channel I's be taking it seriously

It hasn't even broke the channel yet, no guarantee that breaks coming,.

UWTI in serious trouble here, like I said yesterday I'm out at $3.09. Below $52.27 and CL can lose a few more dollars.

Take a look at the chart in the stickies, I'm sure Wrinkles can answer any questions to have about my position on Nat Gas. I'm still holding.

No, not looking lower. If GDX moves much below $19 I'll wait for it to come back but it really should hold close to that $19 mark.

I'm holding my volitility plays because like I said yesterday I see lower lows on the way. For those of you that think we're going higher I suggest you act accordingly.

MUX: McEwen Mining says robbers stole 7,000 ozs of gold from Mexico mine

At current gold prices of $1,208 an ounce, the stolen gold would be worth nearly $8.5 million.

Looks like someone else was warming up to MUX in a much different way.


At current gold prices of $1,208 an ounce, the stolen gold would be worth nearly $8.5 million.

You know Wrinkles I was going to say something after the close but decided to let it go. But the more I think about this the more it's bothering me. I'd just hoping that both bulls and bears keep an open mind over the next few weeks and trade the charts not their hearts. I really really think now is not the time to start making stands based on perception. I would be very skeptical of being overly bearish or bullish when we're at extreme ends of that 2000-2150 range. You know how it works, when we're at 2000 the bears are gonna be beating their drums and talking about a crash and when we're at 2150 the bulls are gonna be beating their drums talking about new all time highs and running up into May. IMO the traders that are gonna come out on top are the ones that don't listen to either side. So my plan is to get long at the bottom and get short at the top. I just want to talk about it before it happens because when it's going on everyone is in their own little world and have already made up their minds. At least this way we can all think about what we're gonna do ahead of time. I guess that's one of the advantages of being swing traders that can read charts, lol.....

Well I do but what I think is irrelevant, until I get Mr Chart backing me up I'm just blowing smoke. However thinking about this from a "whatever causes the most pain" perspective I also think we could see higher. I can certainly see how the end of Winter would have bears thinking they're out of hot water and bulls thinking they've lost their shot. A raise now would catch both sides off guard and make the most money for the market makers. Squeeze the bears and pot the bulls in chase mode or something to that effect.

Yep, VIX futures on the rise but very little volume since 4:00

The most important number on the chart right now is that 2.733 which I've brought up several times. That's the number that confirms a bottom. I say confirms because once it sees a sustained break the chances we'll make a low low are very very slim. We don't actually confirm until a bit higher but not something I would wait on until we got there if you know what I saying. The second most important number is the 2.611, we break that we're most likely on our way to put in a final low and of course you know what that means. I should point out that we still have the possibility to have two of these counts turn into something a little more bearish but at the moment the odds are simply not in favor of that happening. So for now I just want to stick with what we have here and play off of this road map.

U.S Dollar

AT 1:30 when I posted that 2070-72 target for SPX did you think it had a chance? Be honest now, lol

ES down to 2065

I tried to make it as easy to understand as possible. I do have two additional counts but what I put on the chart has enough information to outline whats most important. What did you think about the format with the red and yellow counts? Easy enough to understand clearly?

Nat Gas /NG

Any Questions?

I was out today at $3.09, you already know how I feel. Not saying to sell or not sell, I'm just pointing out that's it's selling off afterhours in case anyones not watching.

If any of you guys are still in UWTI you may want to check it out.

It would have been nice to have bought some puts at 1:30 today.

Well that certainly puts a different spin on things.

I'm not exactly sure where we closed buy it was pretty close to LOD and under 2070.

Can we please please get a ES close under 2070 please!!!!

Ok but I have something after the close.

Metals and miners could rocket higher from here.

Is there some news or something this is going to be blamed on?

Bulls just got a wake up call and need to defend that 2070 level with all they've got.

IWM lead the way!!!!!!!!

If we break 2070 before the close it could waterfall

ES is RED

If JNUG holds $20 I'm gonna take a starter

I have reason to believe that gold/nugt/jnug may have just finished to retrace. We're only about .20 from the bottom I called for gdx and with es starting to show weakness this may not be a bad place to add.

We need to take out 2076.50

That's a good idea. It'll most likely be the morning before I can get do to it.

USO, looking for a 30-40% drop after this correction complets.

While I expect gold to break 1200, just under 1203 is all that really necessary.

I'm holding my volatility plays overnight and may even add one more buy before the close.