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IAC: I'm still long - that said, my energy position is worthless if the market itself doesn't turn around...
to follow up, I've lost the initial place where I would normally stop myself - the SAR has been penetrated...we shall see if it hammers out and reverses the damage - long possibly for another few minutes.
It looks like my little experiment of going long the naz-100 is going against me. I figured since gold is coming apart, the markets would do just the opposite. I may hold on wee bit longer, but I'm becoming skeptical - which means I'm what they call "weak hands."
The thing is; you're better off only being in the market for small periods of time. A lesson I've learned since coming back - the more you're out of the market, the less risk you have to tolerate.
Buy only when it becomes a no brainer to do so.
...and the answer is....!!!
I dunno.
energy...? Don't like it at all...but I don't believe it'll go straight down either. I view oil as a weapon, a strong enough weapon to bring Russia to its knees--it worked before, no wall in Germany....oil trades up or down more on geopolitical reason, than what's in storage, especially in recessions.
The point is, I don't see it getting higher than $50--just go back and look at the price, say, 2-1/2 years ago. It was range bound for almost a year--that's a hell of a lot of resistance...and as you might suspect, we here in Canada need more than $50 oil to have a vibrant economy.
So if your great communicator wants to slow down this collapse I think we'll have see oil bounce here to stabilize economics, not only in Canada, but around the world.
I'm still long energy - just took a small position in the Naz-100 index.
yup... I'm aware of Mondays, it's those weekly Friday brain-farts I'm concerned with.
OIH: reversal underway
[no chart posted]
XEG: Hourly
btw, I'm not especially proud of the way I drew the support line.
btw, the next time it's Friday - you guys want to let me know...?
for some unknown reason, my life in the past year has become a blur
first off -- thanks for the idea.
secondly, we may have the opportunity to buy a double-bottom on Tuesday morning.
...on the watch list it goes.
the OIH and XEG.to both look like crap -- hmm.
K...like I was saying; it's all speculation--just trying to write a new story going into next week.
yes, the USO hourly has an island bottom chart formation - a reversal, fairly reliable and actually somewhat rare....and most of us Canadians haven't noticed it yet.
Which means, a possible reversal on the S&P - and bearish for gold if the "insurance" is not needed anymore.
F*CK....!!!
I've lost track of time again... it's Friday, I shouldn't be sitting here speculating.
normally, at least for me, trading is a 4-day a week job.
yes.
...and note the giant volume coming in on the S&P, up day tomorrow...?
-- we still have the last hour to think about.
[no chart posted]
okay then... check out USO, and then look at the energy stock index.
check out energy - just bought the index
K...actually the daily (at this moment) sucks pipe. What we have forming on that pretty picture below is a not so pretty H&S top.
yup, your timing is very "normal" in regards to your gold trades, if anything I feel your pain on your gold short since you covered just before it collapsed. But I can compliment you on your instincts, at this very moment a sell-off of sort is happening on the hourly charts.
I'm stopped out for a 15% gain - looking to buy it back, when and if, it bounces off the blue line.
I'm looking for follow through for today, if we get it - then it's new highs.
...and yes, I'll be buying more until I become fully invested, but as I pointed out earlier I'm managing only a small amount of money, so being fully positioned takes only a few seconds - a simple click of the mouse.
K...no I haven't...that's a great chart - I'll seriously look at the possibilities today.
thanks.
K....maybe....like, I'm long-so whatever I say from here is colored with my wishes.
btw, sorry for posting the BOMB trade--still long, but I'll probably blow it out towards the close.
IAC: I noticed that you're having a "heavy" conversation about the life...
I had a conversion about a year ago - actually away from the angry asshole of the bible - this is what I believe:
THE LAW OF ONE.
http://www.atlantis.to/
The best analogy I can give you in Christian terms is that we, the people, are the third member of the holy trinity...that is; we are the Holy Spirit of our creator. In other words, we are God, God trapped in a low vibration field (Shuman Resonance). Our time on earth should really be a playground, but instead we're enslaved by negative forces who wouldn't normally have the power to do so in a higher plan of existence. You find this out on your death bed, as your life passes before your eyes, and all you can do is laugh about how petty the things that you thought were important, aren't important at all and the only thing that does matter is love.
...so much for supporting war against yourself, eh?
A great presentation:
Awakening to Zero Point - Gregg Braden (1996) - a six part series explaining 2012 from both a scientific and spiritual point of view.
http://video.google.com/videoplay?docid=3246068643261697998&ei=wAOvSfvCOZK-rwLGvNTzDw&q=gregg+braden
IAC: yeah, I'm definitely beating myself up - I'll get over it... all it takes is a couple of good trades...which is why I decided to go shopping this afternoon with my wife.
that said, I'm thinking the gold correction is OVER (????????) I can now make a bullish argument on the hourly chart (pattern) and another on the daily. We've had 8 down days in a row (GLD) and gold stocks aren't responding in kind.
I noticed the gold stock index finally collapsed - my imperfect timing is still in effect - so yeah, good luck to us both with the BOMB...!!!
I bought some long positions away from my normal hunting grounds - took a small position in Bombardier - still watching gold, oil, and everything else I normally follow - but I'm staying away until my timing returns.
I'm out of my gold short - something's up...gold stocks should be falling apart and they're not.
I see energy index is up 5% - intuitions had me in; fear knocked me out.
K...I bet that you never meant to post those charts in that timeline, right...? fwiw, I'm having the same problem-which is why I haven't posted any pretty pictures lately.
I had a great day yesterday, followed by a terrible day today - my timing was perfect yesterday, but not today, made a shit load of money yesterday, gave it back today.
Today, I stopped my self out of gold, then I bought energy, then the market reversed course, so did energy, stopped out of that... then bought back my short on gold higher than I originally sold it for.
.....sigh.....
something wrong... I'm not feeling right about this market...
cash, cash, cash...
sell-off...???
I'm actually laughing out loud... I kinda thought this was going to happen...I'm being whipsawed, nothing like being out of sync with the markets.
I keep telling myself, the open, lunch and the last 15-minutes are the only time periods that count.
energy anyone...? bought the index ... with white knuckles, since there's nothing left of my teeth.
worth a look.
I don't get it... stopped out ... 100% cash ... now I need to get my teeth recapped.
yeah, I'm starting to think that I should have covered this morning too ... I have no idea why someone(s) would aggressively chase the gold index, especially on such light volume.
I'll stay short for a weeeee bit longer - but I'd hate to see yesterday's gains go back into the market.
K...we're getting a fair bit of strength, considering... but on very little volume.
...still short for now.
I had a really good day, considering that I don't like trading - anyway, I don't see anything in the charts that would cause me to think that we won't have another down day again tomorrow ... nothing exceptional on the volume either ... I'll hold the gold stock index short overnight.