Guest Posted December 17, 2002 Report Share Posted December 17, 2002 Can anyone tell me whether the formation on today's gold chart between 8 and 10 NY Time is a bad sign Link to comment Share on other sites More sharing options...
midnite lightning Posted December 17, 2002 Report Share Posted December 17, 2002 What a ramp! The pig went up a little too easy with all the bad news out there and didn?t have enough volume. Looks like a nice short squeeze to be followed by a long squeeze to be followed by a good old fashion ass kicking. Intermediate trend down so I say let them play and they will pay. This week is meaningless. Be careful and don?t take this week to serious. It is what lies afterwards which will send the bullies for cover. I was reading some articles on some major investigations happening on all the big brokerage firms and how they have scammed the sheeple out of billions and billions. When the findings are released it will send this pig to the abyss and da boyz will have fun with their long lost friend bubba! CYA Link to comment Share on other sites More sharing options...
bubbadropping Posted December 17, 2002 Report Share Posted December 17, 2002 The criminal trend we see nearly monthly is playing out. If market down the week before OE Racketeering Operations than Hoods and Bosses enter to lay the wood down on players, muscle up the action, rough and roll bit parters in the back alleys. Its called counter spiking. Happens nearly every OE week. Since were just getting started, the forensic trend is one more day of upspiking and put clearing. Then two days of some down spiking and call clearing. This weekend I would prepare positions for a drunken Klaus run complete with speeding sled, rabid reindeers, and vomiting over the side by stoned out Elves riding shotgun and humping one another in an orgy of homoerotica. There is seldom if ever any rationale to Holiday buying. This is simply because retail dominates on light volume most all Ross-Dress-For-Less holiday interludes. Retail does not short, it is not in their vocabulary.Pro Pigmen take off for Jamaica and hump dark,teenage flesh for two weeks. They put their charts in the top drawer and don't look at them for the interim. Only geeks and the unlaid are pouring over graphs,fibs,etc. this time of the year. Way too much pussy in the snow to worry myself with the linear world of fiction. The sled could quite possibly careen off the side of the mountain and bomerang on up into the first week of 2003. Remember, Klaus has a DUI citation for nearly every Christmas in recordable history. Why would he want to go on the wagon now? The EggNog is all spiked and its free and everybody is swilling it including the police who are only pretending to be in pursuit. Link to comment Share on other sites More sharing options...
buttugly Posted December 17, 2002 Report Share Posted December 17, 2002 The Euro put in a double bottom (see link below) and is looking very strong. Not only the "Japanese but also Europeans are quietly pulling out of U.S. markets". "ECB data shows that the euro zone had foreign capital inflows of 25.1 billion euros in January- September, reversing an outflow of 85.2 billion euros in the same period last year." http://www.flash.net/~rhmjr/index.html Shorts remain nervous, offshore money is being repatriated, consumers tapped out, no fear (VIX in the 20s) leading indicators about to turn down. Opportunity knocks. http://finance.yahoo.com/q?s=EURUSD=X&d=c&t=2y Link to comment Share on other sites More sharing options...
Old Habits Posted December 17, 2002 Report Share Posted December 17, 2002 Yeah End, it's me. Did I ever mention that good ol' boy Price Headley lost 400K of my cash? That was with HIM making the trades. He had a stellar record trading options 12 out of 13 losing trades. He was willing to take 15% of any profits, I was willing to pay it. Too bad- he couldn't make ANY PROFITS! Best of luck to ya End. I think your right in your year end projection. Now if I could just shut out all the other voices of people I think are smarter than me and just listen to what the market is telling me I'd be in good shape. My problem, I always think the other guy is smarter. <_< Link to comment Share on other sites More sharing options...
summoner Posted December 17, 2002 Report Share Posted December 17, 2002 Midnite... mind coughing up that article on the borkers have 40 march 25 JPM puts and was thinking about loading up with some more, THNX Link to comment Share on other sites More sharing options...
Guest AssMaster Posted December 17, 2002 Report Share Posted December 17, 2002 The smart money Japanese/American/European is clued in that BOJ and Fed intend to inflate away their currency - or at least don't mind their currencies going down. ECB is the only one who seem to be pubilcly concerned with inflation. Gold looks to be in a 3 of 3 up. P.O.R. or am I crazy? However, expect a pullback below this point to flush out the weak longs (like me) who just jumped on board the inflation train. They like to keep us guessing. One thing I have noticed is that my crappy little gold stock seems to be under some serious upside pressure. Who the hell is buying this thing? No volume, but up 12% in the last two days. I sold some just to see what kind of buying presure there was and I could NOT keep the price down. Weird. Link to comment Share on other sites More sharing options...
Guest Posted December 17, 2002 Report Share Posted December 17, 2002 Adding to Midnite & Budhhadropping.. Ed at http://www.signalwatch.com/signalwatch/mar...markets_dow.asp says: "The Dow ended the day right at the session highs, seen in the 15 Minute Chart, but is now right at a clear resistance level at 8,625. This level is key as it represents the upper boundary of a possible expanding triangle that may be forming at the lows in the 60 Minute Chart." "The market is in an obvious consolidation zone, and we are likely to see several swings in here for 200 to 300 points, driving the "buy and hold" players crazy but generating nice profits for those who are able to trade the moves." Link to comment Share on other sites More sharing options...
buttugly Posted December 17, 2002 Report Share Posted December 17, 2002 "We're concerned, however, that a breakdown in the dollar could have a negative impact on stocks........... The July bottom in dollar (and five-months of dollar stability) helped launch the stock market rally. A new low in the dollar could cause the stock market rally to falter as well". http://www.gold-eagle.com/editorials_02/jm...rphy121702.html Link to comment Share on other sites More sharing options...
PileDriver Posted December 17, 2002 Report Share Posted December 17, 2002 Way to play it ML, we are definitely in the area of a major top. Absolutely, postitively NO DOUBT. Will it be SPX 910, 925, 940, 950? Will it ocurr Dec 2, Dec 19, Jan 13? Really, who gives a crap! People who think they are going to pinpoint the exact top are delusional and missing the whole point of the "game". I'm just slowly accumulating BEARX on every pop throughout this topping zone. How will it decline exactly? Really, who gives a crap! But one thing for sure it will decline and not hit final bottom with a sustainable rally until the same indicators now screaming major top are screaming major bottom. KISS. Budda, it appears the Kodiak was filling up his bladder today with more urine. Today was screw that puts, screw the calls comes next. ButtUg, ya, the dollar is sitting on the brink of disaster. Should be quite a show. Link to comment Share on other sites More sharing options...
buttugly Posted December 17, 2002 Report Share Posted December 17, 2002 "The US dollar has taken a really awful appearance. A multiple Head & Shoulder breakdown is clear on the chart of the Continuous Contract Pit revealing a downside price objective of between .77 to .80 and that is if nothing really goes too wrong". http://www.gold-eagle.com/gold_digest_02/t...ylor121702.html Link to comment Share on other sites More sharing options...
buttugly Posted December 17, 2002 Report Share Posted December 17, 2002 Piledriver: I think you are right. Put/call doesn't look good for the bulls. http://www.vtoreport.com/sentiment/putcall-s&p.htm I think I am going to have to buy some BEARX. I was fortunate enough to meet Doug Noland and he was most impressive (despite his mild mannered appearance). Certainly he was not one of those slick types with the $2,000 designer suits. I am sure Tice is going to be a lot more widely known, by the time this is all over. Link to comment Share on other sites More sharing options...
Guest Posted December 17, 2002 Report Share Posted December 17, 2002 Buttugly, Long term we are likely to see 5,000 on the Dow at the same time you've got to cough up $500/ounce for gold!! Until that happens I wouldn't adopt a bullish mindframe! Link to comment Share on other sites More sharing options...
The End Posted December 17, 2002 Report Share Posted December 17, 2002 my suits are 3,000. :grin: just one. The rest are 1,000. Link to comment Share on other sites More sharing options...
SkiddMarket Posted December 17, 2002 Report Share Posted December 17, 2002 Take a look at the hourly chart for the Naz Composite. Doesn't todays mini-rally look identical to the one on Nov. 20th? That would give a gap up to 1410 at the open, and a high of just under 1450 tomorrow. It worked last month during Scam week-maybe history will repeat itself. This is my first post here on MTM... please be gentle. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.