Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (76496)	7/17/2011 9:49:02 PM
From: 2MAR$	Read Replies (1) \| Respond to of 217948

well Ag & Au responded to the traders seeing more risk on with Italy & further domino in Euroland , then the headline verified this with the debt ceiling starting up in earnest not that anyone didn't know it wouldnt . But right as you see them both do those last pullbacks there were many forex traders thought the Euro/Usd trade would see the dollar break up . All this just 2wks ago.... & they also thought silver might even lose that bottom channel support it had been trading in with lower tops all summer...that could have seen a break to $30 . Things changed in hurry & whole lot of trades were piled back into hedged PM's ...traders ultra sensitive in here to every new wrinkle ripple . This will be an extremely busy few weeks coming up with earnings they need to get this market up, will they really wet their pants after the ceiling is raised ? Prolly...lot of lowballed earnings coming up too. But both bounced & silver held that $33.50 pivot exactly like a champ ...then Ben hinting at more easing last tues lit it up even more, then he backtracked so now both are back testing top of channel in quik order . I formed the thesis early back in May right after that correction & 1rst bounce off $33 that a channel forming "feeling" $39 would be the new top which turned out to be very profitable the last 6mos. Message 27497250 just for a fun read was looking at this piece of Treasury letting the Fed hav a $100bil worth of Au to pay debt down with ...its just sitting there & some atually entertaining this. Treasury Should Sell Gold Reserves to Pay Down Deficit seekingalpha.com

To: Tommaso who wrote (76496)	7/17/2011 10:26:13 PM
From: 2MAR$	Respond to of 217948

Here's where Au stands now, right at top of channel ...mid $39's . * intiated short on AGQ/SLV last thurs $208 & $38 which worked just for that day when those two top pivots just got hit in the premarket , now see how the trade goes from here ... but at top resistance . In just this last 2 1/2 mos the AGQ had swings up to 75, 60, 35,20,30 & 30pts in this channel so makes NFLX look like it was standing still... You can see where the 50ma just held Au @ $38 very nicely , this was what i guessed first as the top , so you can be sure i was waiting to go short the 2nd time it touched end of May and buyable twice off $33 . Where it goes this week , whether breaks up to $40/$41 or respects this top currently hard to tell ....looks like it could with macD but CCI indicates a PB but RSI not too high ..the USD fell back & looks like both Euro & $ are going to be trading sideways for a while so might be Au & Ag . Just takes one headline though & things change fast . * I'd like to see it break up a little more & put the more heat on these "negotiators" ;o) When you find a trading channel forming early enough , they are better than Gold any day <g

To: Tommaso who wrote (76496)	7/17/2011 10:55:26 PM
From: 2MAR$	Respond to of 217948

That news of 9.5% GDP for China certainly firmed the trade for FCX, just because our building is in the drink there are parts of the world thats not . What a week ahead , they report in the 21rst in am (MSFT that eve) ..one an really see the bull/bear tug of war going on in all these charts past 4mos ,but FCX took off 1rst of July with the PM's & they all were good trades (miners) & part earnings run with the XLB/SPY ....aught part of this last rise here. If one was just patiently swinging this baby , buying at $46 & shorting at $55.50 ...you got the gold here ....now at that lower top pivot R with potential for $60 but looking a little over extended here visiting $55.50 again. But would not be thinking shorting this one ...til after eps (<bg) but like this one it has a little something for everyone & near 6% weight in the XLB which was best performer last few months . You like the miners ? Like them low or high but too choppy in between ... (sure miss trading Phelps Dodge )