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Friday April 26; the day before the weekend.

This is a discussion on Friday April 26; the day before the weekend. within the The Lounge forums, part of the Bull Bear Talk Forums category; I didn't want to alert the Gold Gremlins by putting obvious references in the title. As SFGF said , BPGDM ...

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    Capo MrMiyagi's Avatar

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    Friday April 26; the day before the weekend.

    I didn't want to alert the Gold Gremlins by putting obvious references in the title.

    As SFGF said, BPGDM has indeed gone up 100%, now at 6.67.
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

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    Capo MrMiyagi's Avatar

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    I had a litre of Caramel Sundae ice cream.

    I shouldn't have.

    See you all tomorrow.
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    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

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    I'm part of the BBT furniture SeattleSun's Avatar

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    The first 18 pages of these report are a pretty good description of what went down in the Gold Bashing last week. IMO a must read.

    https://d21uq3hx4esec9.cloudfront.ne...013_TTMYGH.pdf
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    I'm part of the BBT furniture SeattleSun's Avatar

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    ".....As the quantitative easing around the world continues, such flash crashes will recur. It is possible that mass panics, resulting from such flash crashes, could change the trajectory of some economies.

    The most important case is that, if the Japanese government bonds and/or yen holders panic over the Bank of Japan's (BOJ) QE policy, the resulting chaos could trigger a financial crisis in Japan, and the resulting yen crash would push East Asia and the world into a crisis.....'


    The Japanese Gov't Bonds are an $11 trillion market. If there is panic in that market it will leave "marks" everywhere.

    You can watch JGBs here Japan Government Bond Charts | Japan Government Bond Interest Rate Live Charts
    "It takes courage to be a Pig!" Barton Biggs (1932 – 2012)

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    I'm part of the BBT furniture SeattleSun's Avatar

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    The Land of the Setting Sun

    Japan's population suffers biggest fall in history

    The population across the Japanese archipelago dropped by around 284,000 to an estimated 127.5 million by October last year, the figures compiled by the government's Internal Affairs and Communications Ministry found.

    The number of elderly people aged 65 or over surpassed 30 million for the first time, accounting for as much as 24 per cent of the population — in contrast to children aged 14 and under which decreased to a record low of 13 per cent.

    As a result, the elderly officially outnumbered children, with a higher number of over-65s compared to children aged 14 and under in each of Japan's 47 prefectures for the first time.

    The new figures confirm Japan's growing reputation as one of the fastest ageing nations in the developed world....

    Japan's population suffers biggest fall in history - Telegraph

    Japan has been closing schools at the rate of 300 per year.
    "It takes courage to be a Pig!" Barton Biggs (1932 – 2012)

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    Tex
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    Quote Originally Posted by Baboo View Post
    Well Tex slur away but time will tell who is the "poser".
    That time has come and gone my friend. Please read his predictions from 2 years ago... all he does is change the numbers...same tune, just to sell subscriptions to day trade gold.
    Markets can remain irrational longer than you can remain solvent.

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    I'm part of the BBT furniture SF Giants Fan's Avatar

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    Quote Originally Posted by MrMiyagi View Post
    I had a litre of Caramel Sundae ice cream.

    I shouldn't have.

    See you all tomorrow.
    I had to read this twice. I thought u said " a little". Wow. U should sleep till noon pst..
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    I'm part of the BBT furniture SeattleSun's Avatar

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    Hurricane Sandy is behind us, the Fiscal Cliff turned out to be a minor bump and sequestration hasn't torpedoed the economy (at least not yet). In the final chart below, the median and average are both at 3.1%, and the mode (10 of the 49 economists) is 3.0%. Even the 1.2% outlier at the low end sees Q1 was a major surge in growth from Q4 of last year.

    At 8:30 AM EST, we'll get the real number.

    EDIT: +2.5% low end of the estimates





    Last edited by SeattleSun; 04-26-2013 at 08:36 AM.
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    I'm one of the Gang Catfish's Avatar

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    U.S. GDP 1Q13 Preliminary
    +2.50% vs. +3.00% exp. vs. +0.40% prev.
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    Super Moderator Poly's Avatar

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    Quote Originally Posted by Catfish View Post
    U.S. GDP 1Q13 Preliminary
    +2.50% vs. +3.00% exp. vs. +0.40% prev.
    Strong enough not to topple the market, weak enough to confirm what we already know.
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    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Poly View Post
    Strong enough not to topple the market, weak enough to confirm what we already know.
    Yep, it's just kind of hanging around in no man's land:

    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

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    Tex
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    There should be a ton of stops above 1593... taking those out is a toss up...
    If we take it out, we would then drop nicely. If it cant take it out, then a small pull back followed by a stonger push through it later.
    Markets can remain irrational longer than you can remain solvent.

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    Dan
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    Interesting that despite the bounce off the bottom we still have yet to see two white candlesticks in a row on GDX.
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    Ugly black candle in FCX yest

    Quote Originally Posted by Dan View Post
    Interesting that despite the bounce off the bottom we still have yet to see two white candlesticks in a row on GDX.
    FCX...ugly

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    William Wallace Honorary Club MikeS's Avatar

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    Gold smacked the 20dma and 61.8 fib and retreated, should atleast get a backtest of the 10dma if not more
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    Super Moderator Poly's Avatar

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    Quote Originally Posted by Dan View Post
    Interesting that despite the bounce off the bottom we still have yet to see two white candlesticks in a row on GDX.
    I know it's early, but GDX really only had one big up day and is up only 10% off the lows. Being GDX was at $40 just a few weeks back and these are the miners we're talking about, that's pretty lame.
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    William Wallace Honorary Club

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    the battle is happening on the USD/JPY and Nikkei today... we may as well all leave for the w/e!

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    DG
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    Doubled up on my SCO. USO deep on my sell screen at 33.28.
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    Be not angry that you cannot make others as you wish them to be, since you cannot make yourself as you wish to be.

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    University of Michigan Sentiment Index
    April 2013 final
    76.4 vs. 73.5 exp. vs. 72.3 prev.

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    86d
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    Quote Originally Posted by Sophia View Post
    the battle is happening on the USD/JPY and Nikkei today... we may as well all leave for the w/e!
    I assume the party is at your place then, Sophia? Give us a tad here, if you will, to get coordinated, and we will be gathering at Polys Leer, about mid day, for the sojourn across the Pond. If you could have your Fleet meet us at the airport, that would be positively Smashing
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    I'm one of the Gang intelliblue2000's Avatar

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    DG,

    Trying to learn here. How long is your time frame? If SCO hit your stops (what is your stop), do you sell immediately?

    Thanks in advance.

    Quote Originally Posted by DG View Post
    Doubled up on my SCO. USO deep on my sell screen at 33.28.
    Manage your losses and your profits will take care of itself.

  23. #23
    Neo
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    Wise Guy is shorting Gold.

  24. #24
    Dan
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    Gold's bounced nicely now and yet miners down 1%+. That's not good news if it holds.

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    Erik:

    Here's an update on Tinka's fundamentals:

    thefundamentalview.blogspot.in/2013/04/tinka-resources-announces-two-very.html

  26. #26
    Tex
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    Quote Originally Posted by Neo View Post
    Wise Guy is shorting Gold.
    With a stop at 1538?!?
    SMH
    Markets can remain irrational longer than you can remain solvent.

  27. #27
    DG
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    Quote Originally Posted by intelliblue2000 View Post
    DG,

    Trying to learn here. How long is your time frame? If SCO hit your stops (what is your stop), do you sell immediately?

    Thanks in advance.
    I do not have set parameters for my trade. That said, this is a short term signal. If sentiment is right and a chart is right for a trade, I will hold. If those things are just o.k., I may or may not. If arguing I take the quick trade. As for stops, sometime I use a stop point (sold my gold on the break of $1523 for example). Other times I use a dollar amount I am prepared to lose. I always look down (whats my risk) rather than up (Oh boy! How much can I make).

    Sorry, but no precise answer to your questions. BTW, the above only applies to trades off my buy/sell screens.
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    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Tex View Post
    With a stop at 1538?!?
    SMH
    Does SMH mean the same as WTF?
    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

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    fomc next tuesday

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    I'm part of the BBT furniture Shakey's Avatar

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    Anyone have any opinions on platforms for futures tradiing:

    Trading Platform/Broker
    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

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    I'm one of the Gang Dialogue's Avatar

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    Gold just hit one of my downward sloping trendlines so I'm going to try a short here (1481).
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    I'm one of the Gang intelliblue2000's Avatar

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    Following another cycle guy, I had a tiny position (3%) in some 2015 SLV calls, I just checked the balance and
    Manage your losses and your profits will take care of itself.

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    BBT Aficionado spitz's Avatar

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    Quote Originally Posted by Dialogue View Post
    Gold just hit one of my downward sloping trendlines so I'm going to try a short here (1481).

    I'm holding out for a re-test of 1484 where I have 2 converging trendlines. Crossing fingers.
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    The planets, an egg and Erik Sven's meatballs tell me how to trade so you sure as heck don't want to follow me either.

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    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Dialogue View Post
    Gold just hit one of my downward sloping trendlines so I'm going to try a short here (1481).
    I'm seeing it differently this morning (the following is just a paper trade for my futures education):

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  35. #35
    Tex
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    Quote Originally Posted by Shakey View Post
    Does SMH mean the same as WTF?
    More PG-13.. Shaking My Head... then again, 13 year olds these days...
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    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Tex View Post
    More PG-13.. Shaking My Head... then again, 13 year olds these days...
    Whiskey Tango Foxtrot isn't PG-13?
    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

  37. #37
    Tex
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    Quote Originally Posted by Shakey View Post
    Whiskey Tango Foxtrot isn't PG-13?
    You must be a pilot!
    Markets can remain irrational longer than you can remain solvent.

  38. #38
    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Tex View Post
    You must be a pilot!
    Sailor.

    My wife and I have a whole vocabulary of profanities using only call signs. Foxtrot, oddly, shows up a lot. Makes it real easy to cuss in public.
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  39. #39
    Yo
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    Shorted QQQ 69.46. Potential H+S setting up. Caveat: Friday's afternoons tend suck - to chop and drift without direction.
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    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Dialogue View Post
    Gold just hit one of my downward sloping trendlines so I'm going to try a short here (1481).
    Looks like you had the right idea. Rejected near the yellow line on my chart, so I closed it at the green line.

    ETA: But if it bounces around the 1460 area near the red and grey lines, I'll go long again.
    Last edited by Shakey; 04-26-2013 at 11:34 AM.
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    I'm one of the Gang Dialogue's Avatar

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    Quote Originally Posted by spitz View Post
    I'm holding out for a re-test of 1484 where I have 2 converging trendlines. Crossing fingers.
    Quote Originally Posted by Shakey View Post
    I'm seeing it differently this morning (the following is just a paper trade for my futures education)
    I've just moved my stop to break-even so I will join you at the higher level if it reverses and gets there.

  42. #42
    William Wallace Honorary Club MikeS's Avatar

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    Silver might get back to the 10dma this morning at this rate

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    BBT Aficionado spitz's Avatar

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    Quote Originally Posted by Dialogue View Post
    I've just moved my stop to break-even so I will join you at the higher level if it reverses and gets there.
    I jumped in at 1477.5. Breakeven stop. Nice entry Dialogue!
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    The planets, an egg and Erik Sven's meatballs tell me how to trade so you sure as heck don't want to follow me either.

    There are 4 seas (mare in Latin) with colors as their names: Black, White, Red and Yellow.
    Sochi Russia (Olympics), Ukraine, and Crimea all border the Black Sea, or dark horse.

  44. #44
    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by MikeS View Post
    Silver might get back to the 10dma this morning at this rate
    If it bounces off 23.80, I'll try a long.
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  45. #45
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    Quote Originally Posted by Shakey View Post
    If it bounces off 23.80, I'll try a long.
    FOMC tuesday could be the bottom everyone was waiting for

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    Where is William Wallace? If you wish, pm me.

    I've not been around here for months and months.
    I'm back. I resubscribed just to dialogue when there's a real opportunity I see and I'm then looking for a critique. I'm no trader. I'm a stealer. If it's there, I'll steal it. If not, the shift of the chips across the table has nothing to do with me anymore than what life is like in timbuktu.
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  47. #47
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    gold suddenly dropped...
    Manage your losses and your profits will take care of itself.

  48. #48
    I'm one of the Gang Dialogue's Avatar

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    Quote Originally Posted by spitz View Post
    I jumped in at 1477.5. Breakeven stop. Nice entry Dialogue!
    Thanks, Spitz. I'm a bit in shock! My next tramline means it either reverses at 1461 (about now) or falls to around 1440.
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  49. #49
    DG
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    Somebody just pulled the plug on oil :-)
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  50. #50
    I'm part of the BBT furniture Shakey's Avatar

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    Trying a long /GC here @1461, stop around 1455.
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    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

  51. #51
    Tex
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    Looks like Fridays are not the best days to be long gold.
    Markets can remain irrational longer than you can remain solvent.

  52. #52
    Super Moderator Poly's Avatar

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    Quote Originally Posted by Dialogue View Post
    I've just moved my stop to break-even so I will join you at the higher level if it reverses and gets there.
    Good one. i just don't see the bullish case for gold in the short term. Traders should be focusing (as you are) on the short side at the top of each rip.
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  53. #53
    Neo
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    The SOS on GLD yesterday was a red flag.

    I wish a nice trip to those who shorted gold.
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    Seriously folks, on this rise, we saw a breakaway gap and a retracement to fill it, and a breakaway gap on Weds, and an exhaustion gap yesterday and last night. 1432 NYspot is the bottom of the breakaway that remains open. The movement just now merely closed the gap from yesterday's NYpit high.

    Icarus seems to live in this blog. It's quite alright. Studies of monkeys just announced proves peer pressure is not just a human thing.

    The balls to go long at the bottom when I was in the South slogging to make biz deals was the best trade set up since June 2011, lowest risk possible. I didn't see the June 11. Poly did see it in advance. That's why I'm hanging with him, carrying his family while starving mine :-)

    This reversal had a clear max high. We are in oxygen tank territory. The risk of retracement and chop is easily 60/40. How in heavens name is this positionable? It's gambling, straight up.

    Vegas at least has shows and drinks, food and whores. This place has cost signs everywhere... psychiatrist, psychologist, family counseling, and the reality of depression and real loss of power over goods and services.

    One thing that's guaranteed though, with 100% probability... another trade set up will come along. If one has the patience and ability to blow off life doing jack while waiting, the Brinks truck will stop in front of the house and the driver will wait for you to open the doors and take what you dare.

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    William Wallace Honorary Club MikeS's Avatar

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    I'd like to point out MA guy called this bounce, as well as this drop in Gold/GDX....

    yes i know, he also said Silver to $21.xx....plenty of time
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  56. #56
    86d
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    BAM!!

    Rob posted a SPY Miyagi bar yesterday @ $157.86 that just got smoked.........
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  57. #57
    KHC
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    GLD filled the gap at $143.43 ( The low at April 12 is at $143.43 and today's high is exactly at $143.43 ) and then went down.

    I think this shows there does exist some hedgies (algos) that aimed at this gap.
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    Wow! How fast things change. Miners and silver now in free-fall and a huge reversal day for gold...... so far.

  59. #59
    KHC
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    Based on the same analysis, GLD will have to fill the gap at $138.55 from here.

  60. #60
    86d
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    Starting to look like Spitz;1, 86d;0
    A Man equipped with a strong will, will always undergo a certain risk, being forced to exceed to his own will.......S.A. Andree

    http://www.youtube.com/watch?v=0gPUsQHMw0o

    http://www.youtube.com/watch?v=0pujenWy-rM

  61. #61
    Dan
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    Slumdog,

    Great to see you posting here. I think youll find this forum is MUCH more receptive to diverse views and less bias.
    froll61 likes this.

  62. #62
    Super Moderator Poly's Avatar

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    Quote Originally Posted by slumdog View Post
    Seriously folks, on this rise, we saw a breakaway gap and a retracement to fill it, and a breakaway gap on Weds, and an exhaustion gap yesterday and last night. 1432 NYspot is the bottom of the breakaway that remains open. The movement just now merely closed the gap from yesterday's NYpit high.

    Icarus seems to live in this blog. It's quite alright. Studies of monkeys just announced proves peer pressure is not just a human thing.

    The balls to go long at the bottom when I was in the South slogging to make biz deals was the best trade set up since June 2011, lowest risk possible. I didn't see the June 11. Poly did see it in advance. That's why I'm hanging with him, carrying his family while starving mine :-)

    This reversal had a clear max high. We are in oxygen tank territory. The risk of retracement and chop is easily 60/40. How in heavens name is this positionable? It's gambling, straight up.

    Vegas at least has shows and drinks, food and whores. This place has cost signs everywhere... psychiatrist, psychologist, family counseling, and the reality of depression and real loss of power over goods and services.

    One thing that's guaranteed though, with 100% probability... another trade set up will come along. If one has the patience and ability to blow off life doing jack while waiting, the Brinks truck will stop in front of the house and the driver will wait for you to open the doors and take what you dare.
    I would say this forum of monkeys has done a very fine job of avoiding the declines. But as you've been away wheeling and dealing, you wouldn't have known that.
    hamvestor likes this.
    “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” - Albert Einstein

    Or view my other site: www.thefinancialtap.com

  63. #63
    BBT Aficionado spitz's Avatar

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    Quote Originally Posted by 86d View Post
    Starting to look like Spitz;1, 86d;0
    How so? Didn't you take the trade?
    The planets, an egg and Erik Sven's meatballs tell me how to trade so you sure as heck don't want to follow me either.

    There are 4 seas (mare in Latin) with colors as their names: Black, White, Red and Yellow.
    Sochi Russia (Olympics), Ukraine, and Crimea all border the Black Sea, or dark horse.

  64. #64
    BBT Aficionado spitz's Avatar

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    I see purple jalepenos in my future.
    86d likes this.
    The planets, an egg and Erik Sven's meatballs tell me how to trade so you sure as heck don't want to follow me either.

    There are 4 seas (mare in Latin) with colors as their names: Black, White, Red and Yellow.
    Sochi Russia (Olympics), Ukraine, and Crimea all border the Black Sea, or dark horse.

  65. #65
    William Wallace Honorary Club MikeS's Avatar

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    spitz likes this.

  66. #66
    86d
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    Quote Originally Posted by spitz View Post
    I see purple jalepenos in my future.
    Careful, there`s a lot of growing season left...................
    spitz likes this.
    A Man equipped with a strong will, will always undergo a certain risk, being forced to exceed to his own will.......S.A. Andree

    http://www.youtube.com/watch?v=0gPUsQHMw0o

    http://www.youtube.com/watch?v=0pujenWy-rM

  67. #67
    Super Moderator Poly's Avatar

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    Quote Originally Posted by MikeS View Post
    More hope, (potentially) bigger letdown.
    Persephone likes this.
    “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” - Albert Einstein

    Or view my other site: www.thefinancialtap.com

  68. #68
    William Wallace Honorary Club MikeS's Avatar

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    Quote Originally Posted by Poly View Post
    More hope, (potentially) bigger letdown.
    i think the letdown has been over the past 6 months, talking about ending it earlier

    there is almost no hope left. any hint at extending will finally mark a bottom IMO

  69. #69
    Capo MrMiyagi's Avatar

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    Puts still outpacing Calls in index ETFs.
    Marypat, Persephone, 86d and 2 others like this.
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  70. #70
    I never sleep! Looskit's Avatar

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    Quote Originally Posted by Catfish View Post
    Gotta love John T. He's a pro at sticking with his trades. Hoping he can one day prove that red really can turn into green if one doesn't panic.
    Poly, MrMiyagi and froll61 like this.

  71. #71
    William Wallace Honorary Club MikeS's Avatar

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    whatever happened to the coppock indicator?

  72. #72
    I never sleep! Looskit's Avatar

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    Quote Originally Posted by intelliblue2000 View Post
    gold suddenly dropped...
    You and I need to go out and have a drink ..... a strong one.

    foomer hasn't posted in awhile, but he can come join us.

  73. #73
    Capo MrMiyagi's Avatar

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    spitz likes this.
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  74. #74
    I'm part of the BBT furniture

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    Quote Originally Posted by MikeS View Post
    i think the letdown has been over the past 6 months, talking about ending it earlier

    there is almost no hope left. any hint at extending will finally mark a bottom IMO
    It's been very hard to stomach the paper losses on my l/t gold holdings, but it's been very nice of the Fed/ US gov't to give us those monthly joke releases of tightening/tapering/dieting/slimming etc. It definitely lightens the mood. Without it, people might get really worried about the state of the economy.
    86d likes this.
    Besser tot als Rot.

  75. #75
    Capo MrMiyagi's Avatar

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    SPY hovering around yesterday's 157.86$ Chopstick (as is the usual MO), no Bonzai left.

    86d, spitz and R41 like this.
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  76. #76
    Capo MrMiyagi's Avatar

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    Ah heck... This Bonzai did not look like one on the 5 minute chart.... does not appear on my other platform so it is in fact one. Damn!

    86d and spitz like this.
    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  77. #77
    Capo MrMiyagi's Avatar

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    Don't follow or make any trades based on any chart, guess, study, joke or prediction I make.
    Seriously. Don't follow me. Just don't. I only guess at things.
    Also.. I'm not the real Mr Miyagi; he's been dead since 2005.

  78. #78
    A Proud Member Wav_ridah's Avatar

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    Quote Originally Posted by Shakey View Post
    Trying a long /GC here @1461, stop around 1455.
    It's trading in a channel. I'm watching the hourly.

  79. #79
    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by Wav_ridah View Post
    It's trading in a channel. I'm watching the hourly.
    No doubt, I'm just trying to ID the right channel.
    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

  80. #80
    I'm part of the BBT furniture Shakey's Avatar

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    Quote Originally Posted by DG View Post
    Somebody just pulled the plug on oil :-)
    And have since put it right back in.
    “We are what we pretend to be, so we must be careful about what we pretend to be.” ― Kurt Vonnegut, Mother Night

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