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Post by simonsays on Jun 2, 2014 8:04:02 GMT -5
Good morning.
Gold is due for a bounce today while equities are due for a down day. Not looking great in pre-market but we'll see.
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Post by simonsays on Jun 2, 2014 8:57:12 GMT -5
I realize that probably no one here is trading uranium stocks but here's a look at Cameco on the hourly:  |
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Post by simonsays on Jun 2, 2014 9:07:43 GMT -5
Looks like the PM bounce is coming. I am hoping to move my stops to break even later today. Ditto for the NQ trade.
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Post by radar on Jun 2, 2014 9:22:31 GMT -5
Bought some October calls (gold) and have a stink bid in for some December calls as well. Options price/cost fairly reasonable compared to futures' margin requirement (at least for now).
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Post by simonsays on Jun 2, 2014 9:26:34 GMT -5
Added HGU @ 7.60, stop @ 7.45. This a gold miner double bull. Probably just a day trade unless I get some distance between me and my purchase price.
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Post by simonsays on Jun 2, 2014 9:37:13 GMT -5
Here's what I'm trading off of with these short term trades. This trend needs to continue....  |
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Post by radar on Jun 2, 2014 9:41:49 GMT -5
Added HGU @ 7.60, stop @ 7.45. This a gold miner double bull. Probably just a day trade unless I get some distance between me and my purchase price. chart looks like bear flag after momo lows (daily).... fwiw |
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Post by radar on Jun 2, 2014 9:44:40 GMT -5
gold acting like it still would prefer to drop from here.
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Post by simonsays on Jun 2, 2014 9:48:58 GMT -5
gold acting like it still would prefer to drop from here. Yes, incredibly weak. It had a small surge and then faded. All I really need is 1250 to make my trades worthwhile but we not even get that. |
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Post by platy on Jun 2, 2014 9:49:12 GMT -5
Ceres turned direct yesterday but I don't think these reversals will last long either.
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Post by simonsays on Jun 2, 2014 9:54:02 GMT -5
Platy, are you currently short gold?
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Post by platy on Jun 2, 2014 10:18:16 GMT -5
Platy, are you currently short gold? No I was dumb not to pick something up last week. Hoping for a decent bounce. |
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Post by radar on Jun 2, 2014 10:41:17 GMT -5
Platy, are you currently short gold? No I was dumb not to pick something up last week. Hoping for a decent bounce. You are not dumb for electing to skip a "hope" trade, my dear. |
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Post by platy on Jun 2, 2014 10:54:04 GMT -5
Thanks Radar  I'm getting a bad feeling again about trading the markets. I don't want to be holding anything when that double pentagram comes along. On the next dump of gold/silver I'm going to pick up more physical. |
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Post by simonsays on Jun 2, 2014 11:38:57 GMT -5
Closed Primero for 2.1% profit. Will be lucky to profit from the others.
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Post by platy on Jun 2, 2014 11:42:01 GMT -5
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Post by simonsays on Jun 2, 2014 11:48:16 GMT -5
GDX update.....which way shall we break?  |
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Post by radar on Jun 2, 2014 11:52:36 GMT -5
He needs a facebook page and a gofundme website. Or, get someone like The Sage of Omaha or Mr. Microsoft to fund it.
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Post by simonsays on Jun 2, 2014 11:58:30 GMT -5
Looks like his test portfolio is up ~100%/month I wonder how he position sizes it and if it can withstand some hard luck. |
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Post by radar on Jun 2, 2014 12:37:53 GMT -5
Looks like his test portfolio is up ~100%/month I wonder how he position sizes it and if it can withstand some hard luck. most models fail at some point. Just when you think they will never fail. |
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Post by platy on Jun 2, 2014 12:47:37 GMT -5
Looks like his test portfolio is up ~100%/month I wonder how he position sizes it and if it can withstand some hard luck. most models fail at some point. Just when you think they will never fail. Yes and there's the corollary, as soon as a successful trader goes sub their winning streak is over. |
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Post by simonsays on Jun 2, 2014 13:04:25 GMT -5
HGU stopped out for 2% loss.
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Post by platy on Jun 2, 2014 13:29:51 GMT -5
Possible dragonfly doji on SPX today. Not that it means anything LOL!
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Post by simonsays on Jun 2, 2014 13:37:27 GMT -5
Possible dragonfly doji on SPX today. Not that it means anything LOL! Could mean turning point is near. Signifies indecision, correct? |
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Post by platy on Jun 2, 2014 13:47:07 GMT -5
Possible dragonfly doji on SPX today. Not that it means anything LOL! Could mean turning point is near. Signifies indecision, correct? Yes you are correct. I was just joking that it doesn't mean anything. All of my topping signals have been complete busts lately. |
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Post by simonsays on Jun 2, 2014 13:51:01 GMT -5
I hear ya. Equities are relentless. We need an "event".
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mp
Junior Member
Posts: 77 
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Post by mp on Jun 2, 2014 17:09:59 GMT -5
Late to the board.. Gold seems to have crossed bullish but still in oversold. I would think that a more hard evidence is needed to turn bullish. Perhaps an exit of oversold condition or positive divergences in an intra-day level. Overall picture says that the rally or uptrend when it happens is not for keeps... So far the Gold triangle analysis is in good shape (no pun intended). This leads me to believe that the down-turn in equities will also not be for keeps and should rise again to new highs. At least for the SPX...
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Post by radar on Jun 2, 2014 17:10:40 GMT -5
Options trader I follow (and who is 75% correct this year) liquidatd his gold puts Friday, and is selling covered calls (based on stocks a person holds in his/her portfolio) expecting a pullback in the stock market indicies.
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Post by daniel on Jun 2, 2014 17:24:40 GMT -5
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