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Gem

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my spx puts need a comfortable underlying to wear later today in this winter weather. something in a nice shade of red sure would be nice.

My thoughts are with you, as my OEX puts feel comfy in red too! :)

 

This thing is awfull weak, waiting for a break. :P

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is there an ETF ?for the XAU or other gold index - reduced my long gold to 50% y'day and now looking for something easy to hedge rest with (e.g., one trade / one commission ) - thanks

Other than mutual funds I don't think there are.

 

They'll introduce them months before the Gold bull market is about to end, just like the cubes...that'll be the signal to get out of them :D

Too true, Pile. When I got my first brokerage house job in 1980 (at a major, well-known institution) they introduced their gold fund 2 weeks after the all-time high.

It never exceeded its offering price.

 

The fund no longer exists. Neither does the brokerage house.

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fx- I'm sticking with the cycle map I posted this morning in your Anals. In general, if the market stays within the projected channel bands, there's no reason to change the outlook, "going fowad," as they say.

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fxfox, I am mentally keeping a stop on the dax about 27pts higher on the futures.

 

will close many day shorts by end of day and will keep position short on.

 

Short the us and would like to see follow thru. looks like swup and i'll hold untill proven wrong

 

good luck

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yes mr. market YOU ARE WEAK, WEAK, WEAK!

 

and later all the stoolies sing:

tree tra trulla la, tree tra trulla la,

down the crapper,

hopp sa sa!

:lol:

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What about Central Fund? The hold physical in a vault and sell shares, right?

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charmin, that chart is completely wrong. It shows that the sp is at 800 in 2006. My work shows that is will only reach 798 by 2006 ;>)

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Looks like a rotation: Financials out - Sox in

 

I'm going to take the other side: Sox out - nothing in

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best sector today ? iih(internet infrastructure) was up 7%.

short covering on yahoo? anyone else shorting that turd? now +5.5%

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fx- I'm sticking with the cycle map I posted this morning in your Anals. In general, if the market stays within the projected channel bands, there's no reason to change the outlook, "going fowad," as they say.

tanks doc, but i meant if there is any outlook for the p.m. possible. I am just a bit in a loss in DAX short, but would not like to close it, but if you say upmove likely in the p.m. i would close.

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Guest
Looks like they are selling PM's to support the paper assets. Noticed they do that from time to time.

"They"? Technical analysis clearly suggested that the gold rally is running out of steam in the short term. Perhaps "they" are simply doing the reasonable thing and taking profits?

 

I'll go long NEM and GG tomorrow and wait for the bounce.

 

Just do be careful, OK? NEM has a rather nasty-looking toppy chart (short term, I mean) and is likely to correct at least to 24-24.50, maybe even all the way down to 22.50.

 

Regards,

Vesselin

Thanks for your kind words of advice. I'm just learning the ropes and must depend on the skills and experience of others for a helping hand. 22.50 for NEM sounds resonable to me. If I get a bounce, I'll take the profit -- otherwise I'll consider it insurance for the big tank when the wheels fall off (merciless).

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Looks like they are selling PM's to support the paper assets. Noticed they do that from time to time.

"They"? Technical analysis clearly suggested that the gold rally is running out of steam in the short term. Perhaps "they" are simply doing the reasonable thing and taking profits?

 

I'll go long NEM and GG tomorrow and wait for the bounce.

 

Just do be careful, OK? NEM has a rather nasty-looking toppy chart (short term, I mean) and is likely to correct at least to 24-24.50, maybe even all the way down to 22.50.

 

Regards,

Vesselin

Considering NEM had to cough up over $50 MM in previous earnings on a restatement, and their hedging activity, it's a great short candidate... Oh yeah, and the chart STINKs... 22.50 might not even hold on this turkey if the shakeout in gold continues....

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yes mr. market YOU ARE WEAK, WEAK, WEAK!

 

and later all the stoolies sing:

tree tra trulla la, tree tra trulla la,

down the crapper,

hopp sa sa!

:lol:

Mr Marke look into my eyes, you are getting sleepy, very sleeeepy, you feel your eyes about to shut close, your head is getting heavy, you feel like you want to take a...

 

DIRT NAP!

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What about Central Fund? The hold physical in a vault and sell shares, right?

Yep. CEF and CEF.A (TSX) warehouse 50 oz of silver for each oz of gold, if memory serves.

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