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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (10827)	10/1/2010 9:18:51 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 219176

Maybe it's just me, but I don't see the stock market correcting one bit, it will just continue higher... all corrections just seem only to be sideways... there's some selling right after the markets close in the afternoons, but then by morning it's off to new highs again... you just have to stay long and walk away for a few months... GZ

To: Chip McVickar who wrote (10827)	10/1/2010 9:53:22 AM
From: ayn rand	2 Recommendations Read Replies (2) \| Respond to of 219176

charts and conventional trading stoichiometry no longer apply in todays current PM market. in the short term PMs are overbought technically, but all bets are off regarding short term targets. it would not surprise me if there was either significant additional highs or significant retracement and consolidation in the near term. the only trend intact is the long term trend, which is very strongly bullish. i would not want to be a PM trader in this market. anything can happen. watch for sharp upward and downward spikes to take out stops and limits. a lot of traders have mistakenly gone short gold because it keeps going higher and higher only to get badly scorched. be careful. good luck. and again, As the famous speculator Jesse LIVERMORE used to say: “After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

To: Chip McVickar who wrote (10827)	10/20/2010 5:14:54 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 219176

Sorry that I haven't been around Chip Took a freelance job with a hedge fund. But, still trading Futures for my own account. --------------- Gold, Silver, and the Platinum/Palladium complex are in a bullish seasonal period that started in September and generally runs through November. I took my positions off on Friday, I believe. Don't recall the exact reason why, but started adding again on Monday's drop. My Stop in Gold at the moment is 1310 on the December contract. My first target for Gold is 1405, so my Risk ~Reward is roughly 70 dollars to 25 dollars. I prefer Silver, but have been day trading the Dec Silver contract. Haven't picked a point where I want to be in for a trade lasting longer than a couple of hours. I used a Channel Method to enter Gold, I will use one of William's methods to add to Gold or enter Silver for a longer term trade. The current Gold stop is based on the Channel rules. Most of my trading now is based on William's techniques. I am long Corn and Bean Meal from early this morning. The method also gave a Buy on Beans but I felt it was too much exposure to the grain market to take all three. Beans also required a lot more Risk. ------------------------- Your post is back on October 1st. Would not have been a bad call however the Greenback was still spiraling down. Perhaps you were just early. My Market read shows a bull move in Equities by the end of this month, but I haven't a trigger yet. I'm impressed by the fact that while my short term signals are flashing sell set-ups the Market isn't cracking. This Divergence may lead to good Buy signals if the Equity market gets some fire under it. Best would be a short term re-trace then we Buy the breakout. That's my story and I'm sticking to it.