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All Majors and Gold

  • #6,281
  • May 20, 2013 11:39am May 20, 2013 11:39am
Quoting QuikFlipp
{quote} Seems like all indicators on 4hr chart screaming BUY
Damn I didn't think its woooooooohooooooooo
Time yet. But damn it is now.
Wooooohooooo or Boooooohooooo
  • #6,282
  • May 20, 2013 11:48am May 20, 2013 11:48am
Quoting gnomoneey
{quote} Damn I didn't think its woooooooohooooooooo Time yet. But damn it is now.
By the way what was the reason for $40 pop
Wooooohooooo or Boooooohooooo
  • #6,283
  • May 20, 2013 11:49am May 20, 2013 11:49am
Quoting EricB
{quote} There has been market exhaustion even as we have drifted lower from 1410. Short term it "looks" bearish with slightly more sellers than buyers meaning prices may continue to drift lower. However if buyers step in this can cascade quickly as hedged short positions would have to be unwound. I'll put my neck on the line and say we will not see 1200's and will see 1430 level first. But lets not forget the market can be irrational longer than we can be solvent. I also see Dow and S&P topping out in the coming months but it might need...

Thats what it looks like when someone unwinds a hedged position. Good calls GNO and Quickflip!!
  • #6,284
  • May 20, 2013 11:49am May 20, 2013 11:49am
Probably EricB will be able to throw some light on this question !!

Quoting gnomoneey
{quote} By the way what was the reason for $40 pop
  • #6,285
  • May 20, 2013 11:51am May 20, 2013 11:51am
Quoting gnomoneey
{quote} By the way what was the reason for $40 pop
Cleaning market from Sl's, and then go down?
  • #6,286
  • May 20, 2013 11:51am May 20, 2013 11:51am
Quoting gnomoneey
{quote} By the way what was the reason for $40 pop
Market exhaustion = short position unwind (see earlier post). My market exhaustion software is adamant that if we don't hit 1330 it will gradually move higher to 1650 by October. I haven't back tested it or checked it thoroughly yet - its a new program so unclear on how reliable it is.
  • #6,287
  • May 20, 2013 12:01pm May 20, 2013 12:01pm
Quoting EricB
{quote} Thats what it looks like when someone unwinds a hedged position. Good calls GNO and Quickflip!!
Thanks eric. We share perspectives and win together
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,288
  • May 20, 2013 12:07pm May 20, 2013 12:07pm
Definition of 'Market Exhaustion'

Situation in which a majority of participants trading in the same asset are either long or short, leaving few investors to take the other side of the transaction when participants wish to close their positions. Exhaustion signals the reversal of the current trend because it illustrates excess levels of supply or demand.

Just thought I would copy and paste the above for other viewers. (From Investopedia)
  • #6,289
  • May 20, 2013 1:01pm May 20, 2013 1:01pm
http://www.forexfactory.com/news.php?do=news&id=428395

Fed's Evans says Fed could keep rates low even after unemployment falls below 6.5% if inflation remains low
  • #6,290
  • May 20, 2013 3:10pm May 20, 2013 3:10pm
somebody short on gold from 1395? or silver from 23?
  • #6,291
  • May 20, 2013 3:17pm May 20, 2013 3:17pm
Yes I am on gold from 1391
Quoting Foxikus
somebody short on gold from 1395? or silver from 23?
  • #6,292
  • May 20, 2013 3:40pm May 20, 2013 3:40pm
Quoting amansuri1
Yes I am on gold from 1391 {quote}
do you think that we will see 1370 again??????
  • #6,293
  • May 20, 2013 4:32pm May 20, 2013 4:32pm
Quoting Foxikus
somebody short on gold from 1395? or silver from 23?
1417 tomorrow
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,294
  • May 20, 2013 5:26pm May 20, 2013 5:26pm
so are we uptrend officially or not?
Wooooohooooo or Boooooohooooo
  • #6,295
  • May 20, 2013 5:35pm May 20, 2013 5:35pm
Quoting gnomoneey
so are we uptrend officially or not?
Not yet I don't think. Has to break 1430 and then 1450 consecutively. Before then there is a chance of a drift down.
  • #6,296
  • May 20, 2013 5:38pm May 20, 2013 5:38pm
Quoting EricB
{quote} Not yet I don't think. Has to break 1430 and then 1450 consecutively. Before there there is a chance of a drift down.
key is 1365 support now for tonight and tomorrow....imo....what do you see
Wooooohooooo or Boooooohooooo
  • #6,297
  • May 20, 2013 5:47pm May 20, 2013 5:47pm
Quoting gnomoneey
{quote} key is 1365 support now for tonight and tomorrow....imo....what do you see
Not getting a clear picture. Technical analysis is saying too many obvious things which can be misleading.

Technical analysis doesn't quite work in a market like this.

Market exhaustion level 1330.

Possible downside to 1360-1375. Otherwise we keep going up from here until 1425.
  • #6,298
  • May 20, 2013 6:38pm May 20, 2013 6:38pm
its time for some boooooohoooooo?
Wooooohooooo or Boooooohooooo
  • #6,299
  • May 20, 2013 6:39pm May 20, 2013 6:39pm
Quoting gnomoneey
its time for some boooooohoooooo?
gnomoneey, do you think that we will see 1369 soon?
  • #6,300
  • May 20, 2013 6:40pm May 20, 2013 6:40pm
Quoting bugsbunny110
{quote} gnomoneey, do you think that we will see 1369 soon?
why 1369?
Wooooohooooo or Boooooohooooo
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