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Charmin

Monthly Digger - October 2010

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A snippet from Jesse

 

Learning to wait for the moment when the odds are in your favor is the great lesson of trading. Life truly is a school of probability.

 

Still fully invested

My probable window for a top opens from today 1 october on and stretches theoretically to end november.That is for the "yearly" top which is not measured in calendar years. So there can be a higher high allready this calendar year.

The form of the correction or abscence thereoff will be telling.

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A snippet from Jesse

 

 

 

Still fully invested

My probable window for a top opens from today 1 october on and stretches theoretically to end november.That is for the "yearly" top which is not measured in calendar years. So there can be a higher high allready this calendar year.

The form of the correction or abscence thereoff will be telling.

 

Great posts and thoughts to get us going.

 

AMC.TO was up 31.6% yesterday to .25, up from the .14 lows. It was able to secure a $60m loan on great terms, despite only having a market cap. of $30m just a few weeks ago. This is indicates that the economics at Snow Lake are as robust and achieveable as described.

 

Gold has made a new high this morning ($1318)and the bankers are about to start up their programs. Let's see what the 8:10-8:20am window holds for gold. I prefer the bull side for both gold and broad markets.

 

Clearly, after yesterday's big bear-trap head-fake panic morning decline and subsequent reversal and this morning new high's..are indicators of a powerful market. Yesterday's, the bankers went to market and cleaned house. Let's see what their plan is today.

 

Something else to consider is any divergences between price of gold and miners. Gold has made new highs and if we get follow-thru as markets open, we should expect to see miners at/above the previous resistance from the past few days, whatever shape that takes on in your miners. I don't want to see divergences between...yesterday we did get a little as gold recover was strong and miners subdued.

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Boooom.

 

JAG about to leave 6.66 in the dust, which means it'll enter a huge airball zone that leads up to $8.

 

AMC.TO up another 10%.

 

ABX has NOT busted through horizontal resistance but it is about to on the slight down angle drawn visible on the 10-day.

 

edit: trading note: on spike I sold all short-term miner options and moved nearly all capital to long-term. i was able to catch a part of downspike/knife to get a little discount relative to where i sold. my risk is much lower now. ABX should be rocking all day for pattern that I'm looking at to confirm...but in case...

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i am trading, i have raised 10-15%cash.

1325 is good resistance. looking for a move similar to the move to 1156 create some fear and back to the races

dharma

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I went through another MTO.V aftershock and so peeled off gains in Rusoro (.18 to .25). Not losing good gains again...doing the balance between core/trading positions. I still believe we are on the verge of a very frothy stage that will leave most behind...picking up pennies and passing on the doolars.

 

$SPX so far has painted another low that fits its curve I've been watching. Break that and the story changes...for now still on trajectory UP, albeit running out of time. It'll need to get things in high gear. Yesterday tapped both upper/lower limits, closing in middle..nice candle. Getting there.

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I've continued to lower the risk here. They haven't been able to get even close on some of these gaps up...if they hold, we're going to gobble up new territory. Close the gaps/break this area and we correct short/fierce. Given the 2 scenarios, I have to take it easy.

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Why I know for sure is that some serious crap is at work right here and something is gonna give, big. I've been striking a balance between being reactive/proactive. I've scaled back the risk but, as always, am in. I'm aware of the various scenarios that could unfold and I'm waiting to see what's dominant before getting too crazy with anything.

 

Bears dropping the ball here...me likey. Next week could be epic.

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I am essentially still fully invested ( my bad if the top is in )

 

All the non action for me was in the dollar dropping like a brick versus the euro

 

I go into the weekend fully invested and trust my charts to give an hedge . Like a cart counter at the casino

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I am essentially still fully invested ( my bad if the top is in )

 

All the non action for me was in the dollar dropping like a brick versus the euro

 

I go into the weekend fully invested and trust my charts to give an hedge . Like a cart counter at the casino

the yearly cycle is not consistent enough for me to go by, i deferred to golds harmonic. which could end as late as monday. even though i am 85%invested, i feel somewhat naked. the dolar is way Dover Sole, so a bounce @the least is in order. it is however a doomed fiat. judging by the #of calls i am now receiving, phase 3 is right around the corner. gone from no nothing kook, to maybe this isnt such a bad idea.

if iam wrong, so be it. but, even if i am wrong, i dont think this move lasts beyond the 8th-venus retrograde. and the start of the 9days of mother divine,

but as always we shall see

by the fall of 79, every time i sold, i bought back @higher prices, and no i dont expect to make that mistake agin

dharma

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Essentially the yearly cycle high window opened october 1st

 

I am now watching daily cycles and all classical blowoff indicators

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Essentially the yearly cycle high window opened october 1st

 

I am now watching daily cycles and all classical blowoff indicators

ageka- for my work 1325 is the death zone for this cycle, and w/time being up for the short term harmonic and sellers making that #unreachable @this point, i chose to scale back. it may be that this correction, should it develop, may be short lived.

i am wearing my buy hat and on the prowl for opportunities.

dharma

started a position in san gold

 

he present gold conference day 2 eric sprott reco. 3 juniors

ramarco minerals

san gold

galway resources

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If there is something amiss in the regular markets it usually shows up this time of year in a sell off as a dash for cash, miners included. As spot gold becomes more of a currency among other things, it should not react to the downside as much.

 

I pretty sure markets have adjusted to US consumer demand. It's the US dollar that regular markets haven't adjusted to yet which is that basket of currencies it is valued against.

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Did some very light selling in K alone .

Mostly to calm my excitement .

We should be very close now to the funpart

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