re: ["Can't keep that (gold) bull in the fence."]
The first step... is to make sure you're ridin' the right bull ....
Gold from $450 to $675 = + 50%
Palladium from $180 to $390 = + 115%
Regardless of whether one has been trading oil, gold, copper, coal, titanium, or palladium...let's face reality here:
...it's been -- too easy.
And whenever we're in a "too easy" trading environment...it's when, not if -- a violent correction is coming...and when they come -- it's usually without warning, technically, fundamentally, or otherwise...
I'll repeat... my opine:
...don't get greedy.
With the usual caveat... of you can "smoke 'em -- if you don't got 'em"... ie: not getting greedy over a leveraged futures double+ is a different level of greed & portfolio/managment, than is holding a multitude of "pennies" made by manic in & out scalp trades on penny stocks, as is sitting on a 20% up move in stocks, or even a +50% move in the physical, minus the buy/ask spread commissions etc.
When it's -- "too easy" ... it's often prudent to:
-- Sell into strength -- vs. waiting to get stopped out.
-- Use options on buying pullbacks to retain upside leverage, but selling shares and futures into strength to lock in gains; thus retaining leverage to remaining upside, but minimizing total portfolio and cash exposure.
But, not getting greedy doesn't mean you have to exit.
I'm still using all the body language, voodoo, prayers & potions I can muster to push ole' $PALL thru $400.
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C'mon $400 PALLADIUM...baby needs a new condo in Lyfords Cay...
Message 22199195
2/23/2006 7:49:15 PM
From: SliderOnTheBlack
Reply #1212
["I will be very surprised if we don't see $400 Palladium taken out before any significant "stop outs" occur."]
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And we're right on the precipice of $400 today:
stockcharts.com
This Palladium Trade has created some very gratefull clients...and entre to a couple of very interesting conferences/think tanks & research.
From "The BBC" of Lyford's Cay... came the coming house cleaning of the House of Blair and the Bush Cartel...ie: "Trillions Always Trump Billions"
The Seven Deadly Sins of the trading cognescenti masses...will once again fill some of "our" coffers with yet another "Deadly Contrarian Win"
For those who are not yet seeing the paradigm shift ripples in the global pond, or who have a little trouble in controling their -- "greed glands" in this incredible commodity bull...you can always retain leveraged upside, but yet lock in present gains via options and smart money/portfolio managment.
The last time the nattering naybobs of negativity poo-poo'd "options straddles" ... it made 20-25% on the downside and 50% on the upside in the oilpatch.
Volatility can make you money in both directions... option straddles allow you the ability to "not" have to have -- "perfect in & out/long & short timing" ...and are great vehicles for those who are not comfortable making large short bets, or massive in & out portfolio shifts.
Four Final Trading Thoughts direct from the "BBC of Lyford's Cay":
-- "Trillions Always Trump -- Billions"
-- "The Big & Easy -- FAST Money... is always made by leveraging descrepancies between -- Price & Risk.
-- "Pigs get Fat, but Hogs get Slaughtered"
-- "All Speculations end the same...always have, always will..."
While a little greed can be a good thing... too much of virtually any -- "good thing" is not...
Always be early to the party (and leverage the hell out of the early cycle)...but, never, ever, ever; be caught hanging around (especially leveraged) at last call..."
SOTB |
