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Post by radar on May 20, 2014 7:28:52 GMT -5
Gotta hand it to you, Platy. Looks like today is going to be a bottom and a turn date (hopefully).
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Post by simonsays on May 20, 2014 7:39:09 GMT -5
Looking at the Nymex open, we have the reverse situation of yesterday, so a person could go long right here with a stop at around 1285.
I have to admit, I'm really tired of this rangebound action in precious metals.
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Post by radar on May 20, 2014 7:47:06 GMT -5
Low risk entry into silver this a.m. against a 19.19 stop.
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Post by radar on May 20, 2014 7:47:55 GMT -5
Looking at the Nymex open, we have the reverse situation of yesterday, so a person could go long right here with a stop at around 1285. I have to admit, I'm really tired of this rangebound action in precious metals. SIMON SAYS, let's get going UP, pms!! I agree.....it's been a long winter. |
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pkf
Junior Member
Posts: 52 
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Post by pkf on May 20, 2014 8:18:58 GMT -5
I have the 84/86 zone on the XAU index as a "solid" target zone. A move below 86 that does not break the 84 level and turns around with some vigor will be a very encouraging sign for the miners. Anything below 84 and the December lows come into play. I am waiting patiently and have been in such a state since early March. I am letting the market dictate its intentions first. I am however keeping a close eye on a few favorite plays which even though may continue to "drip" lower, the ensuing upside is expected to be very powerful. KOR.TO (Corvus) below last week's lows (under $1.14CDN, probably dip into the 1.00/1.10 zone)is one I am definitely interested in. Bear Creek (BCM.V) is another that definitely showed signs of life last week. AUQ is now on my radar screen though i want to see a couple more weeks of price action.
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Post by radar on May 20, 2014 8:21:34 GMT -5
I have less than 5% of my portfolio in miners. Not that I don't like some of them....I am just not a mining company stock fan. Maybe it's because we been involved with mining for so long.....just hard to get excited about them. I know there's money to be made there, but they just don't interest me. Where is Frasier Crane when you need him.
In 1998-1999 we were heavily weighted in miners. Homestake, Echo Bay, Meridian Gold, Franco Nevada, Goldcorp.... Did very well. |
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Post by simonsays on May 20, 2014 8:38:03 GMT -5
Welcome pkf!
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Post by radar on May 20, 2014 8:43:07 GMT -5
we have a reversal shorter term time frame for silver....and gold as well.
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Post by platy on May 20, 2014 9:19:58 GMT -5
Nice to see you pkf!
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Post by platy on May 20, 2014 9:20:51 GMT -5
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Post by simonsays on May 20, 2014 9:27:51 GMT -5
I've mentioned Balmoral Gold a few times here. Today they announced more drill results and have apparently discovered a hi-grade nickel deposit to go with their growing gold deposit. Shares are up 8% this AM. I think this good news is now priced in and the stock should pull back a little over the next few weeksat which point I will likely purchase it as a long term investment. This company has all the makings of an explosive jr, provided we can get a resumption of the gold bull.
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Post by platy on May 20, 2014 10:14:39 GMT -5
I haven't made a trade in more than 2 weeks.
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Post by simonsays on May 20, 2014 10:21:28 GMT -5
That's because you're being smart and disciplined Platy. Direction in most assets is undecided. Nothing to do but wait...unless your scalping very short time frames, which is difficult.
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Post by platy on May 20, 2014 11:05:53 GMT -5
I currently have a target of 1850 on May 24. Support from Jupiter and Saturn trine.
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Post by simonsays on May 20, 2014 11:12:24 GMT -5
I currently have a target of 1850 on May 24. Support from Jupiter and Saturn trine. You waiting for that to get long? |
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Post by platy on May 20, 2014 11:18:38 GMT -5
I currently have a target of 1850 on May 24. Support from Jupiter and Saturn trine. You waiting for that to get long? Still holding shorts. My May shorts expired worthless but I still have June shorts. It's possible it goes lower than 1850. But my plan has been to switch to longs on the 24th. |
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Post by simonsays on May 20, 2014 11:19:56 GMT -5
Right, I keep forgetting about your shorts. Nice trade btw.
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Post by platy on May 20, 2014 11:27:33 GMT -5
Thanks but no it was a terrible trade, lost a lot from time decay.
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Post by simonsays on May 20, 2014 11:30:03 GMT -5
Thanks but no it was a terrible trade, lost a lot from time decay. Right, you're trading futures right? Not options? |
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Post by platy on May 20, 2014 11:40:42 GMT -5
No I'm trading options.
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Post by platy on May 20, 2014 11:44:12 GMT -5
DOW top is in. Ceres 5th natal return was on May 12.
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Post by simonsays on May 20, 2014 11:48:26 GMT -5
So SPY puts then. I'll get it figured out yet. |
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Post by platy on May 20, 2014 11:52:13 GMT -5
Actually, SDS calls, to make it even worse.  |
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Post by simonsays on May 20, 2014 11:57:30 GMT -5
Actually, SDS calls, to make it even worse. Lol. Not because they're calls but because I need to pay attention better. I also need to add options to my repitoire. |
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Post by platy on May 20, 2014 12:01:25 GMT -5
Actually, SDS calls, to make it even worse. Lol. Not because they're calls but because I need to pay attention better. I also need to add options to my repitoire. Only do it if you can be REALLY REALLY disciplined. Most options expire worthless so you have to be prepared to lose the whole lot if you're wrong. |
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Post by simonsays on May 20, 2014 12:10:04 GMT -5
Lol. Not because they're calls but because I need to pay attention better. I also need to add options to my repitoire. Only do it if you can be REALLY REALLY disciplined. Most options expire worthless so you have to be prepared to lose the whole lot if you're wrong. Yeah, the whole time decay thing has kept me out of options because timeframes are so hard to predict, although I do buy warrants. But at the very least I'd like to improve mt hedging capabilities. Plus straddles and other unique situations are interesting. And then there is Miyagi who just collects premiums IIRC and lets others suffer the decay. |
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Post by radar on May 20, 2014 12:56:48 GMT -5
Now we have a coil in gold on the 240 min chart..... could go either way.
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mp
Junior Member
Posts: 77
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Post by mp on May 20, 2014 17:41:21 GMT -5
Gold still on a ST (Short-Term) downtrend and has not changed. So I would be careful for anyone thinking its a bottom.
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mp
Junior Member
Posts: 77
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Post by mp on May 20, 2014 17:45:17 GMT -5
Looking at the price pattern of gold on an EW basis tells me that we are in a ABCDE formation. And we are in an AB and now C wave down for a completion of D wave.
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Post by radar on May 20, 2014 18:55:17 GMT -5
I see a 5 wave pattern with wave 4 having completed already and we are now beginning the 5th wave up. (EW)
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