Archive for November, 2009

Fun stuff. Gold, silver, platinum

Posted on Nov 30, 2009 by .

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091130gldTis the season to begin thinking about wearing this stuff instead of  trading it.  But first we have to manage our trades before we hop off to breakfast at Tiffany’s.

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A diller a dollar — fun and games in the Euro…

Posted on Nov 27, 2009 by .

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091127xleLooking for readers who took our clever suggestion to short the euro traders and market mischief makers took out people who had their stops too close to the high.  Good market making and specializing!

Traders who took our advice and put their stops 2% above the high are whistling merrily and thumbing their noses at the specialists, as the stop would have been at 153.20.

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Putting the Dow in perspective… (Dubai notwithstanding)

Posted on Nov 27, 2009 by .

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091127indu

One never knows what falling pebble or snowball will start the avalanche.  The jungle drums say that many big traders are short — and feeling the heat.  And praying fervently for a severe downwave to get them off the hook.  Whether this is the snowball (Snowballs in Dubai?  Christmas presents from Muslims?  Well isn’t there an indoor ski mountain in Dubai?  Could this be a negative indicator?  When tropical hotels start building indoor ski slopes sell them short?  But we digress, enough of cultural and economic analysis…)

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Gold. Gaps. Golly–gee–whiz.

Posted on Nov 24, 2009 by .

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091124gldStock investors are now looking at something in GLD that futures traders are long familiar with — repeated gaps.  These rarely occur in stocks, but are common in commodity blow-off situations. (See SLV and PGM also.)

Here we have a breakaway gap followed by a power bar (!) followed by two runaway gaps.  Well, obviously there must be some cook book which tells you what to do when this occurs.  Not.

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Surge, drift, flush pattern persists — so far. Don’t snooze off.

Posted on Nov 22, 2009 by .

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091120diaWe are now in the drift part of the pattern after a surprising one day surge at the top.  This is better illustrated in the chart below.  At the moment there is no sign of the bear wave traders have been hoping for and fearing ever since March 9.  Illustrating once more that it is better to read the chart than it is to read the news.

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