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  • #4,241
  • May 10, 2014 3:21pm May 10, 2014 3:21pm
Quoting mastersm
{quote} Hi Olu, I agree with you. However, this Indice has a potential of continuing with an upward trend. Yes the might be a small re-tracement soon. You could scoop around 20pip minimum. {image}

Hi Mastersm.

Thanks for your post and the chart. Your chart is very informative. please feel free to post more. The stock market has refused to go down. Any selloff is snapped up after a day or two. I read somewhere that 90% of all SP500 stocks have reported better than expected results. Better than expected compared to already lowered expectations. The hands that are holding this baby up will soon get tired imho.

Olu
If you think you can or cannot do it you are correct
  • #4,242
  • Edited 4:31pm May 10, 2014 4:15pm | Edited 4:31pm
Natural Gas

my initial thoughts is that we would see the lower red line...Price might climb to 4.600 area and another dive could emerge from there
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #4,243
  • May 10, 2014 5:12pm May 10, 2014 5:12pm
facebook

It is a weekly chart not a daily one. The drop on the right of the chart now like a bear flag
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If you think you can or cannot do it you are correct
  • #4,244
  • May 10, 2014 6:58pm May 10, 2014 6:58pm
Quoting Olu
{quote} Yes it is saxobank in the UK. And yes the commissions are waaaaay higher than IB. I have also seen the rubbish chart for IB. However I think that one can get over that especially as I do longer term trades. At the moment I am used to Saxobank and just wary of taking the plunge. I also have an AlpariUK account primarily for forex. Olu
Take the plunge mate. I can't see that you have anything to lose.
You can paper trade on IB by the way: https://www.interactivebrokers.com/e...&p=papertrader

Sorry to ask again Olu - do you get that Hightower report and is it any good? Thanks.
I have no clue what I'm talking about.
  • #4,245
  • May 11, 2014 2:54am May 11, 2014 2:54am
If this is the hightower report you mean I get it from Jim Comiskey - don't know how he does it but it's free.

Attached Image (click to enlarge)
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Send Jim an email here.... [email protected] and he'll add you to his mail list

He also rants on youtube every week https://www.youtube.com/user/JimComiskeyMetals
  • #4,246
  • May 11, 2014 5:51am May 11, 2014 5:51am
Could silver go to $10

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  • #4,247
  • May 11, 2014 7:00am May 11, 2014 7:00am
Quoting stewrigh
If this is the hightower report you mean I get it from Jim Comiskey - don't know how he does it but it's free. {image} Send Jim an email here.... [email protected] ("[email protected]") and he'll add you to his mail list He also rants on youtube every week https://www.youtube.com/user/JimComiskeyMetals
Hi Stew
That looks worth a shot. Thanks very much chap
I have no clue what I'm talking about.
  • #4,248
  • May 11, 2014 11:46am May 11, 2014 11:46am
Quoting Boy Wonder
{quote} Take the plunge mate. I can't see that you have anything to lose. You can paper trade on IB by the way: https://www.interactivebrokers.com/e...&p=papertrader Sorry to ask again Olu - do you get that Hightower report and is it any good? Thanks.

hi BW.

I dont get the reportas part of trading with SB. There was a time I was looking into it but that was not through SB. It would have been a personal subscription

Olu
If you think you can or cannot do it you are correct
  • #4,249
  • Edited 12:26pm May 11, 2014 11:47am | Edited 12:26pm
Quoting stewrigh
If this is the hightower report you mean I get it from Jim Comiskey - don't know how he does it but it's free. {image} Send Jim an email here.... [email protected] ("[email protected]") and he'll add you to his mail list He also rants on youtube every week https://www.youtube.com/user/JimComiskeyMetals
Hi S

Thanks for the link. I have sent him an email. Also I have just listened to one of his 'rants'. I like it

Olu
If you think you can or cannot do it you are correct
  • #4,250
  • May 11, 2014 12:00pm May 11, 2014 12:00pm
Quoting stewrigh
Could silver go to $10 {image}
Great chart S.

Copper does not look good either

Olu
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #4,251
  • May 11, 2014 1:02pm May 11, 2014 1:02pm
Quoting Olu
{quote} hi BW. I dont get the reportas part of trading with SB. There was a time I was looking into it but that was not through SB. It would have been a personal subscription Olu
Hi mate, thanks for confirming.
I have no clue what I'm talking about.
  • #4,252
  • May 11, 2014 1:04pm May 11, 2014 1:04pm
Quoting Olu
{quote} Great chart S. Copper does not look good either Olu {image}
I am wary of shorting copper. I was long copper until Friday; and I would consider a re-entry long, because although I think it has a good chance of going lower, I think it can and probably will go higher first.
I have no clue what I'm talking about.
  • #4,253
  • May 11, 2014 1:19pm May 11, 2014 1:19pm
Quoting Boy Wonder
{quote} I am wary of shorting copper. I was long copper until Friday; and I would consider a re-entry long, because although I think it has a good chance of going lower, I think it can and probably will go higher first.
I hear you on Copper BW. I was a bit surprised by the action on Friday. I'm afraid your warning has come too late I am short. I am lot looking for a preakdown right now only a retest of the lows. That line appears to be solid for now

Olu
If you think you can or cannot do it you are correct
  • #4,254
  • May 11, 2014 1:23pm May 11, 2014 1:23pm
Quoting Boy Wonder
U/CAD put in a big bad bear bar. {image}
BW

Remember we were talking about usdcad reversing from current levels on the trendline. It did just that. Now if price an retrace a bit I will get long with a stop below the reversal low
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If you think you can or cannot do it you are correct
  • #4,255
  • May 11, 2014 1:28pm May 11, 2014 1:28pm
Yes, i also think that $ will retrace causing gold to go up a bit before the down trends resumes.
  • #4,256
  • May 11, 2014 1:46pm May 11, 2014 1:46pm
Quoting Olu
{quote} I hear you on Copper BW. I was a bit surprised by the action on Friday. I'm afraid your warning has come too late I am short. I am lot looking for a preakdown right now only a retest of the lows. That line appears to be solid for now Olu
I think the upside is limited; a few cents at the most. The lows are a ways away so you have good R/R in your favour. With patience it should work.

Can you sell options in your Saxo account? If you can you could sell JJC (copper etf) puts to bring in a bit of income which protects you a bit from the upside (you would need of course to work out the ratios appropriately and your JJC short puts would be nominally naked although practically they would not).
It's possible that copper faffs about for a month or two before turning. But of course it's not a free lunch: if copper should turn violently down you would be giving up some of the profits on the copper short.
I looked at selling options on copper futures myself in the last week or so but although they are listed, nobody is making a market in them so there are no bids and no offers
I used to sell copper options, not so long ago, maybe a year or two ago; I'm hearing that a lot of banks have had to give up or drastically reduce their footprints in commodities trading due to legislation and this I think is a ramification of that: vastly reduced liquidity.
I have no clue what I'm talking about.
  • #4,257
  • May 11, 2014 1:48pm May 11, 2014 1:48pm
Quoting Olu
{quote} BW Remember we were talking about usdcad reversing from current levels on the trendline. It did just that. Now if price an retrace a bit I will get long with a stop below the reversal low {image}
TBH mate I would just buy a bit at market. I'm not sure the market is going to give everybody who missed the move (and there are a lot of you ) a nice entry.
I am planning to add a bit myself at the market.
But hey, no crystal ball here (don't want to be blamed if you buy some at market and then it tanks!).
I have no clue what I'm talking about.
  • #4,258
  • May 11, 2014 5:37pm May 11, 2014 5:37pm
Quoting Boy Wonder
{quote} TBH mate I would just buy a bit at market. I'm not sure the market is going to give everybody who missed the move (and there are a lot of you ) a nice entry. I am planning to add a bit myself at the market. But hey, no crystal ball here (don't want to be blamed if you buy some at market and then it tanks!).

I hear you BW. I have lost many a trade waiting for a retracement - countless and I ought to have learnt my lesson.

And hand on heart I will not blame you if I bought anything and then it tanked. Everyone is responsible for 100% of their trades. I think the readers of this thread are seasoned enough to know that you click that buy/sell button owning 100% responsibility for doing so.

That was my roundabout way of saying this thread is a trading discussion only and does not constitute investment advice. If you need such please consult a qualified adviser

Despite the above statement a big thank you to all the contributors to this thread

Olu
If you think you can or cannot do it you are correct
  • #4,259
  • May 11, 2014 7:12pm May 11, 2014 7:12pm
Quoting Olu
{quote} I hear you BW. I have lost many a trade waiting for a retracement - countless and I ought to have learnt my lesson. And hand on heart I will not blame you if I bought anything and then it tanked. Everyone is responsible for 100% of their trades. I think the readers of this thread are seasoned enough to know that you click that buy/sell button owning 100% responsibility for doing so. That was my roundabout way of saying this thread is a trading discussion only and does not constitute investment advice. If you need such please consult a qualified...
Mate, thanks for the thread and for making us feel welcome
I have no clue what I'm talking about.
  • #4,260
  • May 12, 2014 12:07am May 12, 2014 12:07am
Quoting Olu
{quote} I hear you BW. I have lost many a trade waiting for a retracement - countless and I ought to have learnt my lesson. And hand on heart I will not blame you if I bought anything and then it tanked. Everyone is responsible for 100% of their trades. I think the readers of this thread are seasoned enough to know that you click that buy/sell button owning 100% responsibility for doing so. That was my roundabout way of saying this thread is a trading discussion only and does not constitute investment advice. If you need such please consult a qualified...
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