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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: bearshark who wrote (11267)	5/5/2006 2:12:21 AM
From: Patrick Slevin	Read Replies (1) of 12411

Good calls on the Indicies, I'm guessing. Looking at the DJIA I'm mildly surprised that I pay so little attention to it that I wasn't even aware how close it is to old Highs. But I don't have much faith in the broad markets and I think I'd be out myself if I traded a basket which was representative of it. I recall David. I guess the three of us were on the same thread at one point. Because you are trading stock and having your viewpoint the daytrading makes sense. As you said before, if you are getting quality in the trade and good execution it will be very satisfying. I believe trading a raw commodity such as gold or silver is different. As they are trending, it my preference to go with the trend and stay on the Long side (in this case). Currencies have developed a trend now as well. ------- I don't recall the specific post on Gold, but I was a huge fan in December. Been long most of the time for 3 years, but by December I felt it was unstoppable. When you speak of the Silver move are you referring to the data from before the actual launch of the ETF or after? A week before the launch the metal looked parabolic. I suppose I used the poor man's version of the spiral (a French Curve) and was bailing out just ahead of the drop. Didn't get completely out though. Many of my sales were set one or two ticks above what became the High. Since the launch it's been difficult to lay all of the credit on the ETF. It's certainly a factor. We also look at global unrest, the breakout in Gold, the price of Energy as drivers. Perfect Storm stuff. Throw in the decline of the Dollar as well. Gold is hitting new Highs as I type. I'm afraid if it gets much higher before a pause it has the potential to get parabolic as well.

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