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Silent Service Method

  • #10,541
  • Aug 26, 2010 1:14am Aug 26, 2010 1:14am
Quoting golferfx
Hey traders,

I am sure you have been watching the charts for the last 5 months....if you have not, please get out of the markets and go to cash, gold, cd's or bond funds, at least for the next 12-24 months.

Capital preservation...not appreciation is the humble move and I think we have to position ourselves now.

To be defensive we can buy inverse etf's in our personal accounts and goto cash in the 401k's.

Please do your own research and make sure you know the risk...what you were taught by main stream financial...
Golfer you're hilarious.

I wonder if there are any listed log cabin builders or ammunition suppliers we can get long as well for when we go to ground with our Heinz and Campbell's shares

Unless there is an enormous crash and the world ends, I think we are forming the bottom of a new move higher into year end.

The big guys will not let a crash happen when they are all on holidays with their juniors on the trading desks.

That said, early 2011 I may well have a portfolio just as Golfer suggests.

Still you have made me laugh for the day already, thanks again!!

4x.
  • #10,542
  • Aug 26, 2010 11:51am Aug 26, 2010 11:51am
Quoting clockwork71
If you are going counter trend in a box, just simply take half a position. So if you normally risk 1%, then only risk 1/2.....or 1 if you normally risk 2%, etc.
It's an excellent suggestion, and makes even more sense considering I'm already in another trade on AUD/USD. I'll try it out.
Disregard all prognostications.
  • #10,543
  • Aug 26, 2010 2:31pm Aug 26, 2010 2:31pm
Quoting Pidgeon
It's an excellent suggestion, and makes even more sense considering I'm already in another trade on AUD/USD. I'll try it out.
  • #10,544
  • Aug 26, 2010 3:38pm Aug 26, 2010 3:38pm
Quoting golferfx
Hey traders,

I am sure you have been watching the charts for the last 5 months....if you have not, please get out of the markets and go to cash, gold, cd's or bond funds, at least for the next 12-24 months.

Capital preservation...not appreciation is the humble move and I think we have to position ourselves now.

To be defensive we can buy inverse etf's in our personal accounts and goto cash in the 401k's.

Please do your own research and make sure you know the risk...what you were taught by main stream financial resources...no...
Hey bro!

I'm deeply invested in Smith & Wesson! Got gold a while back.

Edit: joking about s&w as Ruger looks better unless the $#@!! hits the fan!
  • #10,545
  • Aug 26, 2010 5:18pm Aug 26, 2010 5:18pm
Update to AUDCHF short......stop got hit, ended in profit. Nothing too exciting....but of course it went my way later in the day....figures.

It actually is a bit of a long set up on the daily at the moment.....so I wasn't too worried about being in it still.
  • #10,546
  • Aug 26, 2010 10:22pm Aug 26, 2010 10:22pm
Quoting clockwork71
Update to AUDCHF short......stop got hit, ended in profit. Nothing too exciting....but of course it went my way later in the day....figures.

It actually is a bit of a long set up on the daily at the moment.....so I wasn't too worried about being in it still.
I'm really not expecting good movements until after labor day.
  • #10,547
  • Aug 27, 2010 8:14am Aug 27, 2010 8:14am
Quoting calderone
I'm really not expecting good movements until after labor day.

This is true......I still think we are going to be in a range bound market until then as well. Although....I have to admit it seems that negative moves have a bit more conviction behind them lately.
  • #10,548
  • Aug 27, 2010 8:28am Aug 27, 2010 8:28am
I'll try not to jinx it, but JPY is forming a weekly pin...pretty damn close to that 85 level we talked about. We shall see...

Bernanke's comments later today could push it one way or the other. GDP revisions this morning were more or less a snoozer.

Have a great weekend folks, I'm off to the casinos this weekend!
  • #10,549
  • Aug 27, 2010 10:42am Aug 27, 2010 10:42am
I see that weekly pin. But it doesn't look as good on Daily or 4H. I'd be more comfortable if we can break the recent daily trend, above 85.50.

OTOH, it could head down to the next weekly level at 80. Eighty! When have we ever seen that before? Check out April of 1995. 15 years ago! Well its possible, and if it happens, then we would be seeing some historic dollar lows. Maybe by then the JCB will have had enough and decided to start selling.
Disregard all prognostications.
  • #10,550
  • Aug 27, 2010 11:34am Aug 27, 2010 11:34am
Quoting Pidgeon
I see that weekly pin. But it doesn't look as good on Daily or 4H. I'd be more comfortable if we can break the recent daily trend, above 85.50.

OTOH, it could head down to the next weekly level at 80. Eighty! When have we ever seen that before? Check out April of 1995. 15 years ago! Well its possible, and if it happens, then we would be seeing some historic dollar lows. Maybe by then the JCB will have had enough and decided to start selling.

One thing is for sure......it's oversold.
  • #10,551
  • Aug 27, 2010 4:30pm Aug 27, 2010 4:30pm
Quoting Pidgeon
I see that weekly pin. But it doesn't look as good on Daily or 4H. I'd be more comfortable if we can break the recent daily trend, above 85.50.

OTOH, it could head down to the next weekly level at 80. Eighty! When have we ever seen that before? Check out April of 1995. 15 years ago! Well its possible, and if it happens, then we would be seeing some historic dollar lows. Maybe by then the JCB will have had enough and decided to start selling.
I certainly will have this one on my radar. If we break to the upside, the potential target would be 1000 pips away. Not a bad run if you get a chance to take part of it.
  • #10,552
  • Aug 27, 2010 10:23pm Aug 27, 2010 10:23pm
Podcast on the blog is up and loaded for the week....

Chris
  • #10,553
  • Aug 28, 2010 2:00pm Aug 28, 2010 2:00pm
The next week if NFP week. As such, with Labor Day weekend being right after - the markets could be very light again this coming week.

If you were a large volume fund, would you want to throw a ton of money into the markets a few days before NFP.....to get ahead of it?

Probably not. This should be the last bad week though I think.
  • #10,554
  • Aug 28, 2010 2:14pm Aug 28, 2010 2:14pm
Quoting clockwork71
The next week if NFP week. As such, with Labor Day weekend being right after - the markets could be very light again this coming week.

If you were a large volume fund, would you want to throw a ton of money into the markets a few days before NFP.....to get ahead of it?

Probably not. This should be the last bad week though I think.

Good time to close the charts and do something else.
  • #10,555
  • Aug 28, 2010 8:24pm Aug 28, 2010 8:24pm
Quoting calderone
Good time to close the charts and do something else.
Yep. Like paint a lot of houses down at Ohio State as an example. lol
  • #10,556
  • Aug 29, 2010 7:36am Aug 29, 2010 7:36am
Here are two charts about the usd/jpy:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: yenweekly.png Size: 44 KB
Click to Enlarge Name: yenmonth.png Size: 93 KB
  • #10,557
  • Aug 29, 2010 11:13am Aug 29, 2010 11:13am
Here is a video version of my take on the USD/JPY. This is either going to be a swan song for this chart.....or the long or a lifetime? Only time can tell.

Inserted Video
  • #10,558
  • Aug 29, 2010 5:39pm Aug 29, 2010 5:39pm
BoJ is having an emergency meeting on Monday to address the Yen's strength...

Hmmmm.........
  • #10,559
  • Aug 29, 2010 10:00pm Aug 29, 2010 10:00pm
yummy, eat it up while you can (USD/JPY)
  • #10,560
  • Aug 29, 2010 11:04pm Aug 29, 2010 11:04pm
I still think it is prudent to wait until after NFP to get too excited about this set up....

At least that's my plan?
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