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Post by simonsays on May 19, 2014 7:16:01 GMT -5
Gold moving up over night but Nymex about to open so we'll see if it crashes or keeps going.
Canadian markets are closed to today, so I'm expecting some sort of action that traps me!
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Post by radar on May 19, 2014 7:30:14 GMT -5
I think the 1280-1290 area holds; this move could be the "real deal".
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Post by simonsays on May 19, 2014 7:38:16 GMT -5
Here's this morning's Nymex open surge. The way things have gone recently, this move can be faded. So today one could short it. One of these days it will keep going but until then......  |
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Post by platy on May 19, 2014 8:54:15 GMT -5
I have a SPY bar at 189.12.
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Post by platy on May 19, 2014 9:10:10 GMT -5
Gold's triangle is still holding but getting pretty tight. Today is an important turn date but Mars turns direct tomorrow and that's what all the astrologers are watching. When 2 turn dates are next to each other it usually indicates a single turn, so the turn could occur tomorrow. I don't know which way it will break.
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Post by simonsays on May 19, 2014 9:19:11 GMT -5
Gold's triangle is still holding but getting pretty tight. Today is an important turn date but Mars turns direct tomorrow and that's what all the astrologers are watching. When 2 turn dates are next to each other it usually indicates a single turn, so the turn could occur tomorrow. I don't know which way it will break. Perhaps GDX can give us some clues. It hasn't been as reliable lately, but high volume closes in either direction often indicate the next days action. But unless it's really high volume, it probably won't mean anything. Plus, things are complicated by Canadian indexes being closed. |
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Post by simonsays on May 19, 2014 10:17:30 GMT -5
Here's this morning's Nymex open surge. The way things have gone recently, this move can be faded. So today one could short it. One of these days it will keep going but until then...... Here's the updated gold chart from this AM. If I were trading this, I would probably close this short right here, even though there's a very real chance that a more sizeable move down will occur out of this tight range.  |
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Post by radar on May 19, 2014 12:25:38 GMT -5
Please give me one big, scary, $50 down day tomorrow. Please.....please.
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Post by radar on May 19, 2014 12:33:58 GMT -5
gold right back to the 1292-3 area where we spent most of Friday.
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Post by radar on May 19, 2014 14:30:33 GMT -5
One of the options traders I follow is buying puts on GLD today. FYI. The guy has approx. 70 winners.
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