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Took the morning scalp HED and went long HGD.. another scalp...
sometimes chump change is OK :O)
Trending LOL.. I got out near the top big time in 08 but lost a good bit trading because trends weren't lasting more than a day.. a one week trend is good for me :O)
HED is likely a scalp... pay my expenses for a week :O) or not :o( har har...
Hope I didn't jinx you LOL I decided to take some at the close for 19.99 do I have .03 of JOY !! LOL
Regardless of IT tend I think a little pullback is warranted.. so I have some money riding on it..
re: work.. naw I still have to work a while longer and I don't particularly enjoy it... but IT (programmer) is the best bang for my working hour..
And here I sit still stuck working :o(
Oh a small spec play http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25446903
I looked at my delayed hourly and it looks like it's forming .. ie I can see why you would have gone for it.. You have real time charting though right ?
OK thanks.. so short energy do you use HED or HOD or something else ?
Frank,
I trade around the SAR dots and as long as they're overhead, and below the centreline of the Bollinger Bands--my position pretty much stays static
Taking a look at your dots (looking for clues on SRS which I'm looking to re-enter around low 62s..
So your Short S&P trade was a good setup only from the 11 to 13 ?
Looks like the 17-23 was good but your dots were above the BB centreline ?
What am I missing ?
B
I've had some junk silver for a long time for on the ground bartering.. living expenses..
I wonder at paying the premium for coins over small bars etc.. Seems kinda like buying retail when wholesale does the job :O)
An interesting post from Mr. Chen
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25444584&personmsgnum=2
in this market is hard not to take profits 100% of the time when seen on a quick intra-day basis. A few days ago I was sitting on a < 2 month 17% profit on National Bank of Canada in my account and > 20% in my wife's account.. not including yummy divies booked. In a few days it evaporated to a bit red in my account.. and barely green in my wife's.. today I'm ahead > 10% again in my account.. Guess I know what I should have done
The whole gold thing has me torn still.. The recent buying is 'loss of confidence' buying not inflation.. US savings rate is way up.. and rising it seems.. What happens if that sticks for a few quarters and J6P starts to get his balance sheet in order.. forget all the calls for consumer spending... a dead end IMVHO.. I'm glad I'm not seeing it.. US overnight stays in Canada are at lowest levels since data has been kept.. > 30 years.. Be funny if we muddle through.. but don't expect the same credit based standard of living or it all goes to hell again and faster..
Too bad I'm not a real chart guy :O)
LOL.. I know you don't need me to hold your hand Frank.. What I'm really wondering is maybe something like CEF.A might be useful also..
Or another question would be if HBU wasn't so illiquid would you consider that also ?
Right now the Gs and ABXs are down despite gold's 180 today... but HBU is too thin for my taste..
Print
Dollar May Be Near Peak Versus Canada’s Currency, Barclays Says
Email | Print | A A A
By Candice Zachariahs
Feb. 19 (Bloomberg) -- The U.S. dollar may be nearing its peak against Canada’s currency as investors begin to focus on the smaller nation’s better long-term growth prospects, according to Barclays Capital.
The greenback, which has risen 19 percent against Canada’s so-called loonie in the past six months, traded at C$1.2585 as of 11:56 a.m. in Tokyo, compared with Barclays’ peak forecast for C$1.30. Investors should buy options to sell the U.S. dollar in nine months at C$1.18, the London-based bank said.
“We see near-term risk that global risk aversion will persist and take the U.S. dollar-Canadian dollar to C$1.30, but we do not see any breaches of this level as being sustained,” Barclay’s strategists Steven Englander and Mathieu Zaradzki wrote in a note to clients yesterday. “We see the Canadian dollar emerging with a cyclical growth profile that is as good as or better than that of the U.S. dollar, with far fewer structural and policy negatives.”
Bank of Canada Governor Mark Carney cut interest rates to 1 percent last month, the lowest level since the bank was founded in 1934. The nation’s economy will expand 3.8 percent next year, he told the House of Commons Finance Committee on Feb. 10.
Interest rates are as low as zero in the U.S. and the Federal Reserve signaled in January that it was prepared to buy Treasury securities to spur lending.
The U.S. economy is contracting at a “disturbing pace” and gross domestic product will fall “markedly” through June, Fed Bank of Chicago President Charles Evans said yesterday. The U.S. will grow 1.9 percent in 2010 according to the median forecast of economists surveyed by Bloomberg News this month.
The Bank of Canada is likely to begin raising borrowing costs before the Fed and its government’s fiscal spending is likely to be “less expansive” than the U.S. and entail lower sovereign debt sales, New York-based Englander and London-based Zaradzki wrote.
To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net.
Last Updated: February 18, 2009 22:21 EST
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http://www.bloomberg.com/apps/news?pid=20602081&sid=aKQ8QK0Zvfm4&refer=benchmark_currency_rates#
Got a tank of gas and some groceries outta my HXU :O)
I was feeling some remorse this AM on SRS I can tell you.. but it looks to setting up nicely for a reload here closing @ 72 and change... hopefully closer to the low 60's :O)
I'm still dithering on TBT...
Gold back to 950... or lower :O) would be very nice.. but that fits the inflation bet (which has not shown its face yet and likely not for some time) .. The on the road to hell bet says higher and higher..
Gold looking more and more like your end of capitalism (safe haven) play than inflation (which is hard to see for me)...
For excitement.. :O)
HXU for a scalp
Sold my SII for 44%.. plus they owe me a divi :O)
Hmmm! Maybe a little quick on trigger there but I got'em in the 52s Jan 28... nice ST return.. Wonder if I'll buy higher :O)
EDIT: also bought some CPG.UN Bakken play trust. Well hedged, goes ex dividend Feb 25.
Just sold my SRS :O) Will look to reenter...
I've been short for awhile and still doing well so I continue to hold my TBT and trade the dips..
gold 955... ouch ouch ouch LOL
Hope you stayed on your hands Frank...
Hmmm .. gold perky tonight.. May regret closing my HGU on Friday..
I stopped out of my HGU... No holding into the weekend in the red for me on these scalps.. again.. a profit is a profit .. up for the day and week.
Back to renovating ..
Funny headline considering Embry ends off with his usual exploding gold price :O)
I have some Sprott shares in the Hedge Fund though ;o) and I like their hedge guy Jean-François Tardif.
And China probably will print.. so all that Renminbi gonna rise from the US stuff.. is likely air..
Courtesy of Hawkmoon on SI .. Entertaining economics.. http://gregmankiw.blogspot.com/2007/02/ten-principles-of-economics.html
Deflationary forces also suggest crisis of confidence ? http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25409373
I just visited SlidersDugout... Some good stuff there but I have trouble restraining myself from the noise ... well actually I did not succeed :0)
My problem has been volatility.. Haven't really tallied up my w/l % on trades because, until August 08 I tended to have a good number of home runs.. (the junior fertilisers last year were spectacular :O) with many small losers. My problem had been holding losers and having 'hope' but I worked hard on that after a couple of huge PF value drops.. in prior years... it came together well from 05 to 08.. by mid 08 I was high cash ... as high as 96%.. I'm trading less than half my PF here trying to adapt to the new reality.. since I'm not a good ST trader... yet.. :O) I'd say I'm hitting 80% on my yield plays, great on the infrastructure... the solar angle has not panned out well yet at all... Maybe a bust for now... too early.. The ST in this environment trading is only starting to bear fruit for me..
LOL.. I'm @ work :o( but on the bright side.. I've been getting longer gold on the way up.. so far so good.. not sure if tomorrow is a taking profit day..
You are correct about the style.. I'm opening up a new account that lets me hold USD inside an RRSP. Right now I need to have a corresponding trade to be able to wash the forex commission.. which can kill scalps.. I've missed a ton of great scalps on TBT, SRS , BGC and PSS.. because I need to worry about that..
I'm wrong 40% of the time, I'd say with the discipline to dump mistakes fast and move on... 60% right is a great recipe for success... because the 40% can't kill you :o)
To me 925ish looked important a ways back, thinking we need to test 1000ish again soon or we go back down... I'm not so fancy like you guys with lines and dots :O)
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25366554
I'm thinking of HBU has no volume...
Exchanged my REF.UN for more NPR.UN
Added more HGU.
I added some HGU.
Wish I had style LOL
Need to do some trimming of the hedge fund :o) I think... Well I started today with my boring REIT SWAP.. closed one position and and added to an existing.
Made a change to my hedge fund ;o) this AM
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25407482
global money and fiscal reflation will remain necessary for years to come even after the current global financial crisis.
I keep hearing that the US GDP is 70% weighted to the US consumer.. That should take lots of time to correct. although I continue to cringe upon hearing daily on the business channels.. that we need to get consumers borrowing again.. Gold looks to me to be a 'everything else is $hit' play, not inflation yet.
MM's line sounds pretty reasonable to me. The question being (OK I'll go out on a limb here LOL) when the US economy starts to recover will the guys in charge be smart/tough enough to to reign in inflation early enough...
What do you think of Mr. Chen's call on platinum, I don't get it's benefit in a depression.
B
EDIT: If everything keeps going down the crapper his gold numbers will come much sooner than later... He must be an optimist LOL
Someone could have a heart attack with this quote.. SB 1.63
http://ih.advfn.com/p.php?pid=squote&symbol=TX^KCL
I added a bit more gold via HGU.TO @ 14.51 while away.. Lucky guess :O)
Dumped my HXU for a few pennies loss this AM on the pop... Gold is not strong enough to carry the TSX alone :O)
Looking to dither into more gold on a pullback.. but can't watch much longer... off to get some kidney stones exploded...
Mr. Dithers
Select a Search Type (Drop Down with Public/Private choices)
The page is SO UNINTUITIVE...
At least you should add Advanced as in
Select Advanced Search Type
KastelCo
Old Programmer