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Silent Service Method

  • #10,901
  • Oct 5, 2010 6:43am Oct 5, 2010 6:43am
Quoting InfinitySL
Here's one that I'm currently long. It's making good money and growing earnings, it's in a good sector, and the technical setup is appealing to me -- You see it struggling at a round # like $50 and even has a positive day yesterday when the entire market was down. Anyhow, here is the daily & weekly:

Daily:
Attachment

Weekly:
Attachment
looks good. if it breaks through the resistance, it could fly away to the sky.
the only thing which worry me, is the falling volume on the last three daily bars.
meine augen sind die sterne
  • #10,902
  • Oct 5, 2010 6:50am Oct 5, 2010 6:50am
Quoting InfinitySL
At the very end of the article I found this:


So he doesn't have a vested interest in seeing demand for gold go up does he?
Yeah I know but the point is the Fed is buying gold - when was the last time they did that?
  • #10,903
  • Oct 5, 2010 7:01am Oct 5, 2010 7:01am
Quoting InfinitySL
Here's one that I'm currently long. It's making good money and growing earnings, it's in a good sector, and the technical setup is appealing to me -- You see it struggling at a round # like $50 and even has a positive day yesterday when the entire market was down. Anyhow, here is the daily & weekly:

Daily:
Attachment

Weekly:
Attachment

The fact is goes up on a down day is an important "indicator" that I don't think I have ever mentioned. While it's not a reason to buy something by itself - it can be thought of as a 3rd or 4th reason for confluence.

A lot of times you can see which sectors money is flowing into that way.....

As an example, if the S&P fails to break through resistance, and a couple of health care companies are going up while everyone else is down - all lines up for a defensive move....

Thanks SL!

Chris
  • #10,904
  • Oct 5, 2010 7:03am Oct 5, 2010 7:03am
Quoting InfinitySL
Oh come on...It's Matt Tiabbi -- Of course it's slanted! But sometimes even slanted articles reveal some truths that no one seems to want to confront.

But anyway, here's a weekly pinbar I didn't see anyone post...

Attachment

Yeah, someone somwhere asked about this. I believe I referred to it being a potential "sucker pin"....and that area you pointed out would be the real trigger. Anything above that would be too dangerous in my opinion.
  • #10,905
  • Oct 5, 2010 7:35am Oct 5, 2010 7:35am
Quoting clockwork71
Yeah, someone somwhere asked about this. I believe I referred to it being a potential "sucker pin"....and that area you pointed out would be the real trigger. Anything above that would be too dangerous in my opinion.
Yup - those areas worried me, so i've already moved my stops to just past breakeven - will be a shame if my ~1% gain evaporates, but that's part of the game I suppose.

AUD/CAD also looks interesting on the weekly...
  • #10,906
  • Oct 5, 2010 9:29am Oct 5, 2010 9:29am
Quoting clockwork71
That's a poor assessment on the Tea Party, with an obvious slant. AMERICANS like money spent on them, in all areas. Party affiliation doesn't really matter. (Except people like myself who have a sense of pride and make my own money appear with businesses, most people have no idea how things really work. It's all money that appears out of thin air....it's the "governments money" they are taking, while not knowing it's their own.) I think that it was Jefferson that said The Republic will fail when people realize they can write themselves checks....
Great post. The Tea Party may not be prefect, but they are by far the best thing going politically in the USA, and probably the last resort to saving this country.

I notice in Jefferson's quote, he refers to the USA as a "Republic" which it was when it was founded. Democracy can NEVER work, because the average person is not smart enough to know the best long term decisions.

Until we go back to being more of a Republic (IE those who don't pay into the system, don't vote), I don't think the USA has a long term chance.
  • #10,907
  • Oct 5, 2010 10:05am Oct 5, 2010 10:05am
Quoting unlv_tj
Great post. The Tea Party may not be prefect, but they are by far the best thing going politically in the USA, and probably the last resort to saving this country.

I notice in Jefferson's quote, he refers to the USA as a "Republic" which it was when it was founded. Democracy can NEVER work, because the average person is not smart enough to know the best long term decisions.

Until we go back to being more of a Republic (IE those who don't pay into the system, don't vote), I don't think the USA has a long term chance.
Maggie tried that in the UK - it was called the poll tax but unfortunately the peasants revolted so they dropped the idea.
  • #10,908
  • Oct 5, 2010 10:32am Oct 5, 2010 10:32am
Quoting unlv_tj
Until we go back to being more of a Republic (IE those who don't pay into the system, don't vote), I don't think the USA has a long term chance.
LOL - this again? So I assume that you're smart enough to determine who is smart enough to vote? The landed gentry can guide this nation back to it's heritage of plantations & slaves? It amazes me that people bemoan the "liberal elite" when it is this type of drivel that is true elitism...

"The peasants revolted"...I love the language & implied superiority in these last two posts. Bravo gentlemen, Bravo!
  • #10,909
  • Oct 5, 2010 11:04am Oct 5, 2010 11:04am
Quoting InfinitySL
LOL - this again? So I assume that you're smart enough to determine who is smart enough to vote? The landed gentry can guide this nation back to it's heritage of plantations & slaves? It amazes me that people bemoan the "liberal elite" when it is this type of drivel that is true elitism...

"The peasants revolted"...I love the language & implied superiority in these last two posts. Bravo gentlemen, Bravo!
In all honesty, I think uninformed voters are dangerous. The big problem is this: The big players in the political arena muddy the waters - and on purpose. Uninformed people are easily kept in "two herds", and will vote based upon what letter is before the person's name.

In the end, something has to give...either our freedoms, or the government. The next 100 years will be seen as a huge turning point in the history of the US......we are writing it right now in my opinion.
  • #10,910
  • Oct 5, 2010 11:09am Oct 5, 2010 11:09am
Remember back in the day.....when Gold broke through $1,000? I was waiting for that pullback to confirm the break out of a huge triangle. Never happened. This is a great lesson in letting trades go when they haven't got where you want. Yes, it's a pain watching this stupid thing go up over and over......but it's too late in my mind at the moment. That's life.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 24 KB
  • #10,911
  • Oct 5, 2010 11:28am Oct 5, 2010 11:28am
Quoting clockwork71
Remember back in the day.....when Gold broke through $1,000? I was waiting for that pullback to confirm the break out of a huge triangle. Never happened. This is a great lesson in letting trades go when they haven't got where you want. Yes, it's a pain watching this stupid thing go up over and over......but it's too late in my mind at the moment. That's life.
It's gone up so far so fast, that we should be seeing a retrace back to the trendline, but perhaps not until we've seen 1400. Silver is doing the same thing. I was also looking for a certain level to get back in, but missed it. Have to watch the magazines for a cover story on moving to gold, that'll be a clue that its time to sell...
Disregard all prognostications.
  • #10,912
  • Oct 5, 2010 11:43am Oct 5, 2010 11:43am
Quoting Pidgeon
It's gone up so far so fast, that we should be seeing a retrace back to the trendline, but perhaps not until we've seen 1400. Silver is doing the same thing. I was also looking for a certain level to get back in, but missed it. Have to watch the magazines for a cover story on moving to gold, that'll be a clue that its time to sell...

To be honest, I am looking for shorts at this point. I would like to see a larger time frame signal, maybe the monthly chart.

BTW, there are parts of the world with vending machines selling gold now. That's a good sign we are getting into hysteria.
  • #10,913
  • Oct 5, 2010 11:56am Oct 5, 2010 11:56am
Quoting InfinitySL
LOL - this again? So I assume that you're smart enough to determine who is smart enough to vote? The landed gentry can guide this nation back to it's heritage of plantations & slaves? It amazes me that people bemoan the "liberal elite" when it is this type of drivel that is true elitism...

"The peasants revolted"...I love the language & implied superiority in these last two posts. Bravo gentlemen, Bravo!
I used the word peasant because it was the least offensive word I could think of that best described the "yobs, retards, hooligans, 'ne'er do wells, benefit cheats, wasters and scroungers" - (need I go on), who protested at the time.

Whats the saying "turkeys don't vote for Xmas(Thanksgiving)" and until they do(or are prevented from voting) we will never get any meaningful beneficial change to the status quo.

Why should someone who doesn't contribute to society have a say in the way it is governed.
  • #10,914
  • Oct 5, 2010 12:00pm Oct 5, 2010 12:00pm
Quoting stewrigh

Why should someone who doesn't contribute to society have a say in the way it is governed.

It's how you define "contribute" (or who defines it)that makes things messy.
  • #10,915
  • Oct 5, 2010 12:10pm Oct 5, 2010 12:10pm
Quoting Low
It's how you define "contribute" (or who defines it)that makes things messy.
Exactly right - i'll send Stewrigh a PM to take this offline.
  • #10,916
  • Oct 5, 2010 12:25pm Oct 5, 2010 12:25pm
Quoting clockwork71
........

Anyway, onto the Franc. The Swiss are f**ked to be quite blunt. They gave up a long time ago. They are in the horrible position of hoping the USD will gain in value, and that the criminals in DC and at the Fed will stop killing it. Their interventions were horrible failures, and now they are taking it.....
Interesting scenario for the Swiss. They've loaned enormous sums into Europe when the borrowing costs in CHF were comparatively low given the stability of the region during the boom times.

Net result now is they are sitting on a veritable Solomon's Mine of bad european debt that is just waiting for default. The longer the CHF goes up, the less ability there is to repay the CHF denominated loans in Euro, Krona, Romanian Gypsies or Polish Builders.

When this comes to a head in the coming year or two and no one will refinance these loans at charity rates - let's face it not even the Chinese or the Norwegian Pension funds can be that stupid for ever - that is when the CHF will cry "uncle".

If any of you guys want to read more about this topic I think there was a linked article from zero hedge on the issue. Don't have the link at hand but I am sure I can turn it up for you if needed.

Difficult to get a read on the CHF here in Europe at the moment but having been in Germany, Belgium, Netherlands and France in the last week and seeing protest after protest, national GDP cannot be growing

If only I had bought all those excess vuvuzelas selling here post world cup in the gas stations for 0.50c. Could have made a fortune in Brussels last weekend.

Also, nice charts Infinity.
  • #10,917
  • Oct 5, 2010 12:25pm Oct 5, 2010 12:25pm
On a trading note, I would like a good signal to short gold a well, been watching for a week now. Today's unreasonable action may be a good place to look. We'll see how it closes.
  • #10,918
  • Oct 5, 2010 12:52pm Oct 5, 2010 12:52pm
Quoting 4xAddict
Net result now is they are sitting on a veritable Solomon's Mine of bad european debt that is just waiting for default. The longer the CHF goes up, the less ability there is to repay the CHF denominated loans in Euro, Krona, Romanian Gypsies or Polish Builders.

When this comes to a head in the coming year or two and no one will refinance these loans at charity rates - let's face it not even the Chinese or the Norwegian Pension funds can be that stupid for ever - that is when the CHF will cry "uncle".
Here are two links regarding this issue (I'm guessing that zero hedge might have a more colorful take on this)...

http://finance.yahoo.com/news/Strong....html?x=0&.v=1

http://www.bloomberg.com/news/2010-0...mortgages.html

This could be a dumb question, but are we sure that these loans are to Swiss banks? Couldn't it be a Hungarian or Romanian bank that agreed to take out the loan in a foreign currency?
  • #10,919
  • Oct 5, 2010 1:41pm Oct 5, 2010 1:41pm
Quoting clockwork71
Remember back in the day.....when Gold broke through $1,000? I was waiting for that pullback to confirm the break out of a huge triangle. Never happened. This is a great lesson in letting trades go when they haven't got where you want. Yes, it's a pain watching this stupid thing go up over and over......but it's too late in my mind at the moment. That's life.

I'm glad I'm not tho only one who missed this - I've been waiting for a pullback - any sort of pullback pleease - just hasn't been one lol. Beginning to think Oh hell I'll jump on anyway.
  • #10,920
  • Oct 5, 2010 2:15pm Oct 5, 2010 2:15pm
Quoting Low
On a trading note, I would like a good signal to short gold a well, been watching for a week now. Today's unreasonable action may be a good place to look. We'll see how it closes.
Watch for 1363.00 in gold.

It's a fib target 1.618 extension of a move within the current up trend that has been adhered to at the other levels on the small retracements that we have seen all too few of.

Not calling for a collapse after that but maybe a good short opportunity into the 1100's.
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