shorty Posted May 15, 2012 Report Posted May 15, 2012 another day, another well-deserved ass-whuppin' fer the iPornpad purveyor
potatohead Posted May 15, 2012 Report Posted May 15, 2012 GDX now below the daily, weekly and monthly lower bollinger band Incredible. The only time other time was 2008 when everything was puking. May have seen some capitulation in the some of the juniors today.What is amazing is the fact that gold and silver bullion are barely down on the year. Unless we go over the financial cliff and Chinese farmers start using dollars at the Taj Mahal, I would think we could be seeing an over reaction.
Trader Joe Posted May 15, 2012 Report Posted May 15, 2012 GDX now below the daily, weekly and monthly lower bollinger band Incredible. The only time other time was 2008 when everything was puking. May have seen some capitulation in the some of the juniors today.What is amazing is the fact that gold and silver bullion are barely down on the year. Unless we go over the financial cliff and Chinese farmers start using dollars at the Taj Mahal, I would think we could be seeing an over reaction. Where do you think GDX will be trading: [1] if gold goes to 1400? 1300? 1200? [2] if the stock market takes a 20% money shot to the eye? [3] if both [1] & [2] above occur simultaneously? If you guessed much lower, you'd be headin' in the right direction Not an attack ...Just an observation
MisFit Kid Posted May 15, 2012 Report Posted May 15, 2012 Jcp getting crushed AH Just another store I do not shop at, regardless of their "pricing" jubilee......
capitall Posted May 15, 2012 Report Posted May 15, 2012 Quote from Jim Rickards, author: "I'm sure glad Jamie Dimon is on the board of the [Federal Reserve Bank of New York] where he can oversee risk at all those other banks. Comforting thought." from Motley Fool's fave quotes about JPM here: http://www.fool.com/investing/general/2012/05/15/the-10-smartest-things-i-read-about-jpmorgans-tra.aspx
JonLaw Posted May 15, 2012 Report Posted May 15, 2012 I wish I could get enough visibility to short sell this market, but I just can't time the massive liquidity injections that would slice me into little bits. It is very nice to watch though. I think you're a bear at heart when you can enjoy and appreciate nice down day when you aren't even *in* the market.
potatohead Posted May 15, 2012 Report Posted May 15, 2012 Where do you think GDX will be trading: [1] if gold goes to 1400? 1300? 1200? [2] if the stock market takes a 20% money shot to the eye? [3] if both [1] & [2] above occur simultaneously? If you guessed much lower, you'd be headin' in the right direction Not an attack ...Just an observation I understand your perspective and respect it. Another view point would be the following: Maybe the recent action of the mining stocks have been discounting that 20% correction that may be coming in the market. Lets say the mining stocks fall another 5% as the market gets belted for 15-20%. This would make sense since the metals could be the first group to sniff out possible easing (in reaction to the financial chaos). Just my perspective. Of course on the other side of the table, what if the market does not sell off much lower and actually bottoms here. Been in the investment business for 20 years. One thing is certain, anything is possible. Always appreciate your commentary and humor.
Trader Joe Posted May 15, 2012 Report Posted May 15, 2012 Of interest Since early 2006 until now GDX & S&P both have returned bupkiss What's even more interesting is that GDX just crossed S&P to the downside I see a little fartcall Golden shower death cross
Trader Joe Posted May 15, 2012 Report Posted May 15, 2012 ...Euro Mess ..."Financial Cliff" ...Debt Ceiling etc etc etc You'd have to be off your fu*king rocker to be long this thing In fact, I never really play the short side this aggressively, but this is starting to look like a no brainer
MrHanky Posted May 16, 2012 Author Report Posted May 16, 2012 GDX now below the daily, weekly and monthly lower bollinger band Incredible. The only time other time was 2008 when everything was puking. May have seen some capitulation in the some of the juniors today.What is amazing is the fact that gold and silver bullion are barely down on the year. Unless we go over the financial cliff and Chinese farmers start using dollars at the Taj Mahal, I would think we could be seeing an over reaction. I bought a bit of GDXJ just 2 days ago and I am already puking blood,I am hedged now but it still looks like complete shit. My broker was wayyyy wrong for the first time in a while,it had to happen sooner or later. But then again he is looking out 6 months,I look out 6 hours.
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