I_Am_Madness Posted October 28, 2009 Report Share Posted October 28, 2009 Looking good. Slow steady selling. New low on EUR/USD. Link to comment Share on other sites More sharing options...
swordfish Posted October 28, 2009 Report Share Posted October 28, 2009 Looking good.Slow steady selling. New low on EUR/USD. god damn, I have only 25% of my capital on the market in short position. 75% cash. I picked up short position two days ago, but Im still waiting for any UP correction to deploy the rest of the capital (75%) on the higher level. BUT, the more we go down the more temptation I have to put this 75% of capital to work NOW....eh, decision decisio decision. I still cant believe that we will fall before GDP numbers, everyone are waitning for it. Or maybe this figure (GBP) doesnt matter at all? Today, one more hour and also we will receive interesting data, but this should not move markets. Im still, probably, waiting for early friday, late thursday to put all capital in short position. eh, decision decision.. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2009 Report Share Posted October 28, 2009 Good Morning! Welcome to Intraday Stool! Thanks to aussiebear for her daily opening! You can join the discussion by registering (PG rated user names only, please) and posting here as well. Registration is easy. Just click the Register link above, enter your email address (which you have the option to keep confidential), and enter a user name. Due to a deluge of spam registrations, I review all registrations so it may take a day or so for your registration to be approved. If you have questions about how to register and post, use the Help link in the menu bar at the top of the page. If you know others who might be interested in joining us, use the email to a friend link above the thread. Many tanks for joining us! Doc Try the Professional Edition risk free for thirty days. If, within that time you don't find the information helpful, I'll give you a full refund. It's that simple!Click here for more information. Subscribe to the Wall Street Examiner Professional Edition Precious Metals Daily, just $49 quarterly. Try it risk free for 30 days! Get this indispensable daily analysis and support the Stool! Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 28, 2009 Report Share Posted October 28, 2009 Not a lot of talk about the break of 9 month trendline. I think we test the 50 DMA today and bounce. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2009 Report Share Posted October 28, 2009 5 day cycle projection looks like 1054ish. That's the current lower channel location on the 2 day cycle. I like the 1048 target better, but we'll see. Once they get through these two channel lines at 1061 and 1060, should be some clear air space. The next one is at 1054. If we get there, I expect that you lurkers will hit those Donate buttons! Darn. They held. Should give way when this fizzles out. There is a huge positive divergence set up on the 2 day cycle indicator at this double bottom. Very scary. They do that on purpose, of course. Just to get all the shorts to cover. They pick up a little more short inventory that way, then take it down. They can't take it up--there's no cash-- so they eventually will take it down. Every time the market doesn't break the prior low, the shorts panic. This is not bullish in this environment. In a bull market, sidelined longs are there to take the handoff. In this market there are no sidelined longs, therefore no handoff. I may have to bite the bullet here. 5 day cycle indicator is on the cusp of a buy signals. So is the 2 day, and that's in a big pos divergence. But, until they cross the lines, it's only potential. They could turn back down here and still crash. Well, it played out according to the morning forecast, which saw that cycle juxtaposition would result in sideways churning all day. I think that the signs of a crash that came later will come to fruition as well, just not today, obviously. Right now the 5 day cycle is in an up phase, 2 day is in a down phase, and 5 hr is either in a very weak up, or topping out. The 5 day cycle could mitigate against a crash for the next couple of days, but if it fails early, it should be a catastrophic failure. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2009 Report Share Posted October 28, 2009 so. We'll take it from there. I will be recording a Radio Free Wall Street subscription podcast today. Hope you all enjoyed the free one. Later! Link to comment Share on other sites More sharing options...
phatbubble Posted October 28, 2009 Report Share Posted October 28, 2009 My 2 year old has a Richard Scarry book with a character named Goldbug. This morning we discovered that Goldbug is short. Not really sure this is tradeable information. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 28, 2009 Report Share Posted October 28, 2009 My 2 year old has a Richard Scarry book with a character named Goldbug. This morning we discovered that Goldbug is short. Not really sure this is tradeable information. My gold short looking very nice. 1031 now. Link to comment Share on other sites More sharing options...
Lemur Posted October 28, 2009 Report Share Posted October 28, 2009 Looking good.Slow steady selling. New low on EUR/USD. Madness thanks for the super calls you have made here for the past 2 weeks. A huge addition to the board since your return. Link to comment Share on other sites More sharing options...
Jetlag Posted October 28, 2009 Report Share Posted October 28, 2009 My 2 year old has a Richard Scarry book with a character named Goldbug. This morning we discovered that Goldbug is short. Not really sure this is tradeable information. Link to comment Share on other sites More sharing options...
Lemur Posted October 28, 2009 Report Share Posted October 28, 2009 Long gold here at $1030 with a tight stop. Cashed in a gold put option this morning. Stopped out on silver earlier. Looking for an entry on silver at $16. Edit: decided to flip long silver again here. Tight stop. Either it goes my way or I am out quickly without much damage. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2009 Report Share Posted October 28, 2009 Precious Metals Update 10/28/09 – Professional Edition by Lee Adler, Wednesday, October 28, 2009, in Precious Metals, Professional Edition | Permalink |Comments (0) Edit Today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day picks for swing trades. Indispensable daily information for gold and precious metals stocks traders. Click here to download complete report in pdf format (Professional Edition Subscribers).Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information. Link to comment Share on other sites More sharing options...
Lemur Posted October 28, 2009 Report Share Posted October 28, 2009 Long gold here at $1030 with a tight stop. Cashed in a gold put option this morning. Stopped out on silver earlier. Looking for an entry on silver at $16. Edit: decided to flip long silver again here. Tight stop. Either it goes my way or I am out quickly without much damage. Going my way now. Note the strong divergences on the 60min charts for these two. Link to comment Share on other sites More sharing options...
Trader Joe Posted October 28, 2009 Report Share Posted October 28, 2009 Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2009 Report Share Posted October 28, 2009 Mortgage applications collapsed last week, just as yours truly forecast in the Fed Report. As I said in the podcast, the economy is in free fall. Link to comment Share on other sites More sharing options...
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