Replies to post #89072 on Bagman's charts, watchlists, scans and etc.

[SmallieCatcher]

GB, you are a champion sir. I know what you mean about the whole "clear the mind" routine. Pile that in together with all of the day to day challenges in life and it can be a recipe for trouble.(especially when something serious pops up)

sc

[griff]

Don't mean to butt in hear but, +1, nice post sir.

I like AGQ also.. Just a heads up, I got this in a email on Sat.
I haven't really looked into it yet so...

"I just got back from my accountant and got quite a shock. I did quite well last year trading AGQ. I did not realize though that I would get a K1 (a partnership tax form) from them and that my taxes would be based upon my basis in the partnership and not simply my gains from trading.



What happened was that at year end I had a huge gain inside the partnership. I did not "realize" those gains in my trading account, however, as I held the shares over into 2011. Now I am faced with an enormous tax bill for 2010, and I will have a carryover capital gains loss for 2011. Bad for me, because I will not have huge gains in 2011 due to the down market in silver. In the end I will have to pay much more in taxes for 2010 and have a useless carryover loss for 2011.



I'd advise your readers to explore these tax practices before getting into ETFs set up as partnerships. In the case of AGQ it will cost me a year's income...no joke..."

[**D*A**]

I'll say one thing for you Bro. Like Yogi would say, "you are smarter than the average bear, Bubu."

Nice post.

[gb55]

$USD chart

as expected the dollar took it's cue from the diverging macd and took a nosedive this week....it's nearing that important 61% retrace line....the tunnel (ema 144/169) is also in that same area....if this plays out like i hope it does the dollar won't fall below 76 and we will see a reversal and a breakout above 80 (lower chart).....buTT and this is a BIG ASS buTT....the $spx managed to close above 1220 resistance and that is huge....the last move up to 80 on the dollar is a countertrend rally and even though i expect it to see another leg up to the mid to upper 80's it could just head on down to new lows....i am not nearly as confident in my short position after friday's action in the equities....if the dollar goes below the tunnel i will take my loss in TZA....

i am just your average working stiff who doesn't know shit!!!! please don't trade based on my charts....the regulars here at baggy's know that i'm full of shit and i feel comfortable running my mouth around them....all others beware!!!!!

[gb55]

$USD update

the breakout above 80 finally came (link back)....now to figure out where it is headed....i think long term it goes to 88 buTT there will be many bumps along the way....looking at the fib chart below i see that the crb is nearing support....the third chart gives a better look at the $crb commodity index



this is falling rather hard and it may shoot past support short term buTT it's not going to give up easily and should bounce back before the next leg down IMO


this longer term dollar chart gives a clue to where it's headed imo....monthly below that....nobody knows where this ends up....especially me.....just a wild ass guess

[gb55]

USD 7.7.12

i thought the dollar might retrace back to the lower uptrend line b4 moving on up to .88 buTT that doesn't seem likely now(first chart)....a break above 8354 should pave the way for another leg up....the commods (second chart)were rejected right at the "3 strikes your out" breakdown....who gives a fk?....equity longs should

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