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Post by simonsays on May 8, 2014 7:21:26 GMT -5
Thought I'd bump this from last night. I thought it was an interesting piece, although not really trade related. Platy, you will like this article. www.alt-market.com/articles/2126-false-eastwest-paradigm-hides-the-rise-of-global-currencyI do wonder if SDR's require a backing by gold. I would think international financiers prefer a pure fiat system as opposed to one back by gold. But gold would have undergone a substantial rise I suppose if the societal upheaval occurs prior to implementation of SDRs. I really need to read Rickard's books. |
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Post by simonsays on May 8, 2014 7:57:33 GMT -5
Expectations for today are to see gold continue to drop with miners holding their ground. I would like to see a hard drop in gold because it would create a more comfortable buying opportunity. My SMF trade was probably too soon and will likely tread water at best. We'll see.
I will also be looking to re-enter a NQ short but I'm now thinking that I closed my last short a little soon. I would love to somehow have a nice fat position when this heads south for real.
Other than that, I'll continue looking at energy stocks, many of which have great charts.
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Post by radar on May 8, 2014 8:15:42 GMT -5
Platy....looks like the may 9 date could be a short term low for gold?
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Post by simonsays on May 8, 2014 8:38:10 GMT -5
LUN.TO with a nice early reversal this AM and a nice chart. I'll be watching to see if that holds.
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Post by platy on May 8, 2014 9:00:08 GMT -5
Platy....looks like the may 9 date could be a short term low for gold? Yeah that's how it looks. And your 1285 got hit. |
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Post by simonsays on May 8, 2014 9:03:28 GMT -5
CBQ. TO (the Bric etf) looks like it wants to go up. I think if we do continue upward with equities, emerging markets may be the primary beneficiary.
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Post by platy on May 8, 2014 9:22:04 GMT -5
SPX has resistance at 1888.25.
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Post by simonsays on May 8, 2014 9:34:30 GMT -5
Platy, are you flat equities at the moment?
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Post by platy on May 8, 2014 9:45:24 GMT -5
Platy, are you flat equities at the moment? I'm short from Friday. |
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Post by radar on May 8, 2014 9:53:47 GMT -5
I think the Dow is going to make new highs (maybe not by much) within the next 2-3 days. Just a feeling....no technical analysis done. Just a guess.
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Post by simonsays on May 8, 2014 9:56:38 GMT -5
Platy, are you flat equities at the moment? I'm short from Friday. So you're more patient than me and hung on. I'm tempted to get short NQ again right here. |
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Post by platy on May 8, 2014 10:05:11 GMT -5
So you're more patient than me and hung on. I'm tempted to get short NQ again right here. Patient.... or dumb  |
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Post by simonsays on May 8, 2014 10:15:01 GMT -5
So you're more patient than me and hung on. I'm tempted to get short NQ again right here. Patient.... or dumb Lol. My plan was to "build" a short but the volatility is huge. So for now it's just trading short term extremes I guess. |
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Post by radar on May 8, 2014 10:24:26 GMT -5
Actually, Platty, being short isn't dumb....you have a fairly low risk trade set up here. So there's nothing wrong with taking the short side.
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Post by platy on May 8, 2014 11:30:44 GMT -5
Thanks Radar! Hitting resistance level now. Let's see if it can hold.
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Post by platy on May 8, 2014 11:33:54 GMT -5
Radar your 1285 gold call hit. Do you think it's up from here?
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Post by radar on May 8, 2014 12:03:27 GMT -5
Platy, no I'm waiting until tonight/tomorrow. maybe going to see if I can get silver at 19000 or a bit higher as well.
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Post by simonsays on May 8, 2014 12:15:34 GMT -5
Agree with that Radar. Nothing much to do with PMs at this juncture it seems.
Energy names are finally starting to roll over a little I see. A needed correction imo.
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Post by radar on May 8, 2014 12:24:00 GMT -5
Simon....one of the options traders I follow just bought puts on XOM fyi...
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Post by simonsays on May 8, 2014 12:24:07 GMT -5
Commodities overall are showing weakness.
In general, this week has been tough to trade so far (for me). There's some short term day trades (long and short) with the NQ but really nothing else popping out at me. I guess that's a market in transition or at least undecided.
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Post by simonsays on May 8, 2014 12:25:58 GMT -5
Simon....one of the options traders I follow just bought puts on XOM fyi... Thanks for the heads up Radar. Good to have a little confirmation. |
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Post by radar on May 8, 2014 12:39:24 GMT -5
he was buying June puts (XOM)
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Post by platy on May 8, 2014 12:42:59 GMT -5
Platy, no I'm waiting until tonight/tomorrow. maybe going to see if I can get silver at 19000 or a bit higher as well. Cool  |
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Post by radar on May 8, 2014 12:49:13 GMT -5
sometimes the move you want to jump on occurs at between 3:00 a.m. and 6:30 a.m. my time.
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Post by radar on May 8, 2014 12:49:37 GMT -5
I do like how silver is acting here.....
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Post by platy on May 8, 2014 13:04:44 GMT -5
I do like how silver is acting here..... Possible IHS? |
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Post by radar on May 8, 2014 13:09:31 GMT -5
You looking at Daily (silver) platy? funny 'cuz I SAW SAME thing and was afraid to post! LOL!!
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Post by simonsays on May 8, 2014 13:19:59 GMT -5
You looking at Daily (silver) platy? funny 'cuz I SAW SAME thing and was afraid to post! LOL!! Never be afraid to post Radar. |
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Post by radar on May 8, 2014 13:24:09 GMT -5
Thanks, Simon! Off topic, (listening to a soundtrack)....but the movie Big Fish was terrific! Great story, good actors and good music.
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Post by radar on May 8, 2014 13:26:42 GMT -5
Dow made a new high of day (but short by TWO POINTS new all time high) while I was not paying attention) and looks like it wants to reverse!
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