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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (12496)	10/13/2008 2:46:03 PM
From: SliderOnTheBlack	2 Recommendations Read Replies (3) \| Respond to of 50126

Trading thoughts... re: Message 25061448 Adding back a light short on this rally in the DOW and S&P. Got a nice +15% pop in the SLX & DIG etf's. Taking "some" profits here, as you almost have to in this tape, because if you blink... they're gone. MFN bounced +40 cents off it's $5.00 low, and is up strong from it's Friday lows. NXG up +12% today, but KGC is flat, and GG really weak today, but flat from the Friday lows. Tough tape... You still have to be hedged in this market, and either use your short profits to fund & scale into your longs, or take profits when you got 'em, and fight your way into, and then hopefully, out of ... the bottom. Sounds like we're going to get a 2nd stimulus check package before year end. HUI trying to form a bottom. Those intra-day lows of 234 and 235 are holding, as are the closing lows near this HUI 250 level. Something has to give here people, as we've really reached a max divergence. We know there has been forced, liquidation/redemption selling in gold stocks... we are either positioning for one helluva HUI rally, or Gold collapses to it's long term trendline in the $620's and the HUI get's to revisit that 163/165 double bottom from 2004/2005. I'm trying to use short profits to maintain a core weighting in gold stocks. It would be very hard here to maintain any significant weighting to gold stocks without some offset/ hedged shorts in the broad market. Anyone else doing any buying, or selling? Fwiw: You won't hear any criticism from me for staying on the sidelines here... probably the smart place to be, as the ole' whipsaw rollercoaster is fast & furious. I'll try to get some HUI & Gold charts up later tonight... as well as some comments on a bright spot to all of this. Mo later, SOTB