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HUI answers....
I gave 130 target as HUI target before I couldnt post any more. It touched 132 I believe and bounced.
Your going to see HUI " chop " around here, between 130 and 135 now.
Those are the pivot points, play the break and off those and watch the volume. We are approching serious resistance on these gold indexes now. Doesnt mean it cant explode... also doesnt mean it cant fail big time. Point is... you are approaching some serious overhead resistance here. I played it long for the last 2 to 3 weeks and you all saw the posts, so did JRMFL.
Im out now of this last leg up. Take my chances on playing the next big break, up or down for a re entry. It has come very far in a very short period of time. Many gold stocks up from 40% to over 100%, 45 days
Dont predict it, just play the break if your trading it.
I still have small positions in core long term golds.
But as far as the trading account and that last re entry, Im out. I expect a " chop " here and then the next big break.
Manana
I was down all day
Our internet went out early in the day, was not able to post... after that last post I made.
Protrader, internet problems..
Nice bounce off those... " cover your shorts target "I gave for this am and a repsectable bounce.
Fact, that bounce ripped a few heads off, almost exactly at those targets.
Ill be in touch later on market ideas and some comments.
Manana
Hoover,
Now 135 HUI didnt hold.
130 coming... I imgine.
If your in KGC now, better off to exit and re enter, take the profits and re enter later.
KGC... HOOVER
On KGC, unfortunetly it has a huge trading channel from 2.08 to 2.40, both are pivot points.
However if your worried in the short term, a break of 2.24 or yesterdays lows is a bad deal.
More important to follow the HUI. A break of 130 and if that does not hold , will send that index much lower. 130 is a large buy area for the GOLD bulls, if 135 does not hold today.
If 135 holds today, you might wanna hold KGC, to see if HUI gets buyers right here in the 135 area....
Manana
JRMFL...... Great!
on the gold trade....
Ill cancel,the call to emergency room, for the gold posoning now.
On ORB..... not sure. its in a consolidation pattern here. Break of 3.40 short it, above 4.00 on volume get long it.
Im sending the gold paint so you can paint the pool.
Manana
Let me re phrase that... Important.
I said last night, to expect further selling in those sectors I gave you, BUT to cover if we sell off to:
DOW:8200
SPX:875
NDX:900
If you noticed, this am... Large sell off and the market Ripped at
DOW:8247
SPX:877
NDX:907
If my math is right 2 dexes were almost dead on.
Tell me these nut cases do not watch theses technicals.
Now if we follow through or fail, is another deal, the point is the call was made and a nice opportunity.
Manana
Check those supports I gave....
On the DOW NDX and S and P...
bounced right off 2 of them almost to the tick.....this am
Supports.
We were all over those Mortgage companies, Regional banks short yesterday, the ones I listed.
Watch those supports I listed, if your still short or are considering shorting, intraday today.
HON warned.
So watch UTX and GE for short.
Also all the aerospace stocks..... with the HON deal
Especially BLL........ for short
Supports... or those old lows. Technicals Friday
All markets took out that huge uptrendline support,if you connect the lows over the last several months. THAT is a no brainer. It was a " V " rally.. too steep and it has failed that trendline.
Now, forget the trendline support or resistance.
We have horizontal supports to deal with here. I take things one day at a time these days.
Support to me is:
SPX:875
DOW:8200
NDX:900
Still a ways below us.
Start selling off manana and I think you have to expect a bounce there before we can think about those old lows.
Ill be covering any shorts .... short term if it gets there Friday. Short untill then... the sectors I was talking about.
All sectors broke today except for Gold and Aerospace..
Im still long gold, depending how HUI and XAU handles those old highs set in 3 or 4 days ago.
We also have a nother trendline I have not mentioned. Chartman draws this in his page, but the " dumbass " draws the wierdest trendlines. He does not always honor all points. I need to give him a lesson.
We closed today smack dab.... right on it in all 3 markets. Break that Friday and the selling will move with power... intraday I think untill thosae supports I said are reached.
Expect an intrady bounce there.
Unless..... Im dead wrong, we have huge eco numbers in the morning and the market gaps and runs. I think not... but if it does, forget I ever wrote this.
LOL
Manana
From Yang.... El Friday the 13th
Friday looks like it could go either way but there's definitely a bias to the upside, as today's high TRIN and heavy down volume suggest we'll see lower lows intraday but a higher close. (Oh, and here's a bit of trivia for you. Tomorrow is Friday the 13th. Looking back at the last sixteen Friday the 13th's, the S&P has closed higher 75% of the time.) If the market does finish higher, it'll most likely represent a good selling opportunity heading into next week. Not only does today's gap suggest Monday will be a down day, but Monday is also Yom Kippur, the 'day of atonement'. Historically, the stock market has traded lower in the three days following Yom Kippur over 85% of the time (see track record), indicating that we're most likely looking at not only a down Monday but a down week next week.
ASTRIKOS
Sends JRMFL... fresh coffe beans.
Also...
Calls the emergency room, in Florida and notifies them of JRMFL Gold poison problem, get ready for him to come in and check placement of gold bars.
Also...
Orders paint brush, so he can paint the pool a new color.. GOLD!
Manana
4 day head and shoulders... COMP ugliness..
But the damn thing wont break, today so far.....
#1 Utilites... nice manana...... " deseases"
D,EXC,UIL,TXU,FPL,SO,DUK.....Remember that?
#2 Regional banks..... Mortgage... short
CBH,CMA,NYCB,GDW,WFC,ONE,CCR,WHI,HI,MTG,MTB.... Man oh man.
#3 Gold.... Holy.... " bars in pants " desease........
#4 Brokers... Holy.... " Im screwed desease".....
#5 Oil Stocks ...Holy.... " headfake desease"....
#6 Dollar... Holy.... " I hit my heads on 108" desease.
#7 Aerospace Holy.... " Bush pumped me up desease"
Regional Banks... Mortage institutions
Slaughter house.....
Cover GDW.......
Thx Phils gang....
From yesterday I am
Long Gold again.
Short GDW
Long Retail, which I imagine Ill be exiting today.... Retail
Manana
I know who the Gold traders are.......
very well in here. They see this stuff......
For those of you that dont know this sectors as well, you should be seeing how the Gold stocks Ripped of late, HOWEVER the silver stocks HL,SSRI PAAS SIL CDE. Have really been lagging the Gold stocks.
Very very obvious....
Manana
PIXR,HOV.....
In addition to what I listed yesterday. Philsgang also short these.
Manana
JRMFL..... Gold poisoning.........
inside joke..
Manana
The Dollar... what I said... Gold
I said 108 was a pivot point. It hit that short term downtrendline today at 108. So far it is like a steel iron wall. We dont care what way pivot points break.. just break one way or the other is all I care.
As I posted, re entered again Gold today, Wednesday. After that several day pullback. Fact that the dollar did not get much over 108, intra day and the fact that no terrorist problems brought on no market rally intra day.
Core holdings still in the bag.
But, trading it you have to watch so many factors. Most gold indexes bounced just below that 7 day ma pull back today, was one sign, no $ rally was another sign, no market rally was another sign.
No telling, how these gold longs will shape up in the morning as far as a new leg up, but many signs over night are firming up for the "gold bar in pants ", traders.
Manana
Coming Out CC.. long swing...
Thanks Phils Gang, hell of a run.....
Manana
holding the Golds....
Took profits on many of the longs swings today as posted.
Holding the new re entry on golds from early this a.m. as posted.
short GDW..
Sold OVTI GD APA DVN... gains. OVTI large gains
Adding back Golds this am as a day trade so far....
Dollar today....
is rallying right up to that 108 area as we speak in pre market.
108 is pivot point.....
handle it that way...
Manana
Go to philsgang.com, clic on......
radio live charts.... youll see what I mean.
This guy.
#1 knows how to read some charts.
#2 HATES the financial community with a passion.
#3 Cutss losses fast.
#4 pulls the trigger on break outs or breaks downs, knows how to play the break....
#5Lots of free stuff
Manana
Try,"re positioning" that thing..incog...
Yes, I had to re position " that thing " in the pants before, any bars would fit in, otherwise I can see why you can get no gold bars in there.
#1 Listen to Manana
#2 Re position that thing in pants to make room for the gold bars next time.....
#3 " warm" gold bars first before inserting in pants, otherwise it will scare the crap out of that " thing".
Manana
Yes John.... most of us
Have agreed with that for some time now.
Many traders in here have been calling for that, for some time.
Im glad he has been listening to us.
:)
Yes Rip..... www.philsgang.com
Chartman... Real money I use alot....
+ Herb Greenberg...
I use the Chartman patterns alot, everyday he has 4 or 5 ideas.
Today it was ACXM. I use his patterns and just wait for the break. Play the break, whichever way it goes.
ACXM today it was a monthly double top that was the set up.It failed today for a real nice short .
Check out that action, intraday.. one serious failure then a bounce back.
Manana
Calls. Finacials SHORT CALLS.
Phils gang is on 1060 A.M. from about 4:00 to 5:00 eastern.
He uses very similar chart patterns to me as far as shorting and going long.Just a few technicals he uses, I like.
He looks for the same patterns over and over.
He is and has been short. latest trade.
CCR,CBH,ONE,WFC,CTX.
My kinda guy on technicals.
He waits for the break ( then ponuces) or enters stocks that consolidate in patterns.
This guy is VERY hard to listen to, but I take a bunch of his ideas now, then I do the technicals.
Manana
Utilities... like I said 2 days ago....
Utilities.......
S and P futures closed at a price of 911 today.
isnt that inreresting.
New trades:
Still long GD+1,CC+1,APA+.75,DVN+1,OVTI+1,GDT -.5
Out TTN.. re look Manana on that one.
Flip of the coin Wednesday. Play the break.
Most averages right back to very nrear, right on or just over the 50 day ma.
Gold...
Waiting for pullback "buy" now, after selling 1/2 yesterday( posted)and the balance this am.
First buy point is right here at 7 day ma.
Ill wait.
Manana
Hair Salons! Rule the world.... LOL
RGIS...... wait for the next pull back....
SYY hit its pivot.......
As did... ACXM
IGT, good example, of a handle break out.
Im long GD again.... Aerospace
Back in OVTI.. long.
as well as the Oils.
CCU is at pivot.
Regional banks look how NYCB broke that 3 week handle to downside.
Utility short call was a good trigger.. D,AEP,FPL,TXU,DUK... etc....
XMSR 5 is pivot....
Manana
Went long Oil exploration, oil service, oil refininbg today.
SAIK on Gold funds.
There are many. INVESCO in Denver has countless sector funds, they have a gold fund.
Fidelity also has countless sector funds, they have a Gold fund.
SOGEN, also is well known for Gold funds.
Manana
Yes RIP, please share with us...
Who is spamming these Gold stocks, I wasnt aware of any spamming from Topica or I Hub..?
Manana