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  • #3,481
  • Feb 5, 2014 4:12pm Feb 5, 2014 4:12pm
GU
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  • #3,482
  • Feb 5, 2014 4:17pm Feb 5, 2014 4:17pm
AU
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  • #3,483
  • Feb 5, 2014 4:21pm Feb 5, 2014 4:21pm
UC
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  • #3,484
  • Feb 5, 2014 4:25pm Feb 5, 2014 4:25pm
EU
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  • #3,485
  • Feb 5, 2014 4:37pm Feb 5, 2014 4:37pm
Quoting srt
{quote} Nat. Gas: Starting to look like I may not get a chance to add @ 4.40-4.45 {image}

Nat. Gas:

As wild as this has been, 4.40-4.45 might happen yet. A bad inventory report tomorrow might get it there.
Crazy moves these days.
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  • #3,486
  • Feb 5, 2014 11:23pm Feb 5, 2014 11:23pm
Is bull gold finally over? I sold it today.
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  • #3,487
  • Feb 6, 2014 4:38am Feb 6, 2014 4:38am
It looks like Gold is resisting to fall-at least on intraday 4h chart bases. I am cancelling this trade. sorry guys for disturbing.
  • #3,488
  • Feb 6, 2014 6:30am Feb 6, 2014 6:30am
Quoting srt
{quote} Nat. Gas: As wild as this has been, 4.40-4.45 might happen yet. A bad inventory report tomorrow might get it there. Crazy moves these days. {image}
Srt

I call those kind of moves 'stopbusters'
If you think you can or cannot do it you are correct
  • #3,489
  • Feb 6, 2014 6:31am Feb 6, 2014 6:31am
Quoting rehab
Is bull gold finally over? I sold it today. {image}

Hi Rehab

Nice to hear from you. how are you doing? With all that upmove in the Euro. Gold hardly budged. The upside might be tired as you said

Olu
If you think you can or cannot do it you are correct
  • #3,490
  • Feb 6, 2014 6:37am Feb 6, 2014 6:37am
Quoting srt
EU {image}

The euro is playing like on your chart. Imho it has no business being anywhere near here. But it is here and as traders we must be prepared to respond. Looking for shorts...

Olu
If you think you can or cannot do it you are correct
  • #3,491
  • Feb 6, 2014 7:03am Feb 6, 2014 7:03am
Quoting Olu
{quote} Hi Rehab Nice to hear from you. how are you doing? With all that upmove in the Euro. Gold hardly budged. The upside might be tired as you said Olu
thanks Olu! I have been silent but following your thread as usual. . cheers
  • #3,492
  • Feb 6, 2014 7:10am Feb 6, 2014 7:10am
Oh! gold went out without me (( (lesson: donīt check charts intraday!)
  • #3,493
  • Feb 6, 2014 10:05am Feb 6, 2014 10:05am
Quoting rehab
Oh! gold went out without me (( (lesson: donīt check charts intraday!)
You can check charts intraday Rehab but dot react to every tick. Place trade, set parameters and walk away. Now I am not a guru in this area (i.e it is easy to say) but I am much better than before. So I place better learning emphasis on entry and stop placement issues

Olu
If you think you can or cannot do it you are correct
  • #3,494
  • Feb 6, 2014 10:33am Feb 6, 2014 10:33am
Thanks olu for your advices i always appreciate them. I used to be the set and forget person and my trade performance was much better but since summer im not: falling in intraday noise, ppl opinions and over trading, also gold is so volatile that it leleaves me out of sleep. Typical trading errors. Well, looking foward for a better 2014,we r still stating. Good luck
  • #3,495
  • Feb 6, 2014 4:44pm Feb 6, 2014 4:44pm
Quoting srt
Silver: On it's march to my yearly target of 35 :-) Just need to get JPM to buy back it's short position of 17,000 contracts. {image}

Srt

They are probably short a million lots. By the way Srt what do you think about $ bullishness and how it might affect silver going to 35. That is my primary reason why I think 35 is not possible

Olu
If you think you can or cannot do it you are correct
  • #3,496
  • Feb 6, 2014 5:10pm Feb 6, 2014 5:10pm
Quoting Olu
{quote} Srt They are probably short a million lots. By the way Srt what do you think about $ bullishness and how it might affect silver going to 35. That is my primary reason why I think 35 is not possible Olu
Olu,

From my research they were short 35,000 silver contracts but have reduced that position to short 17,000 contracts. They're long 10s of thousands of gold futures contracts. While they're short silver contracts, they've been buying all the physical silver they can get their hands on. Since 2011, they've purchased 100-200 million ounces. I think they want to press prices as low as possible so they can continue to accumulate physical silver.

As for the $ bullishness, I'm a longer-term bear on the $ so more reason for my bull silver position. I'm bearish on most currencies though so it's just a matter of which one is uglier :-) If they all get ugly, silver starts to shine. Also, 50% of silver is used in industrial and with break even for miners @ about $19, how long will they mine & sell it for a loss? They might as well mine & hold as much as they can to reduce the supply & force the hand of the end-user. Only time will tell how this plays out. I'll only be looking to add to my bullish positions. As I first stated, 35 is a "wild bet" but silver can get pretty crazy.
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  • #3,497
  • Feb 6, 2014 5:19pm Feb 6, 2014 5:19pm
Quoting srt
{quote} Olu, From my research they were short 35,000 silver contracts but have reduced that position to short 17,000 contracts. They're long 10s of thousands of gold futures contracts. While they're short silver contracts, they've been buying all the physical silver they can get their hands on. Since 2011, they've purchased 100-200 million ounces. I think they want to press prices as low as possible so they can continue to accumulate physical silver. As for the $ bullishness, I'm a longer-term bear on the $ so more reason for my bull silver position....

I hear you Srt. In these times I am a sort of Perma $ bull (I will not hesitate to sell it too as I trade technically) and think there is serious crises ahead which will get everyone running to the $
If you think you can or cannot do it you are correct
  • #3,498
  • Feb 6, 2014 5:25pm Feb 6, 2014 5:25pm
US $ Weekly:

Which line breaks first ?
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  • #3,499
  • Feb 6, 2014 5:29pm Feb 6, 2014 5:29pm
Quoting srt
US $ Weekly: Which line breaks first ? {image}
the top one imho it looks so solid and unbreakable though. Even if the bottom one breaks my EW idea is not negated until 79.00 is taken out but I would not like it to go there
If you think you can or cannot do it you are correct
  • #3,500
  • Feb 6, 2014 11:38pm Feb 6, 2014 11:38pm
it seems that Gold is resisting to drop even after the formation of that big Pinbar at such a strong resistance. I was lucky it went without me . Euro and Pounds are also advancing up..that is all a bearish signs for $. However NFP is just in few hours.
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