8 replies to this topic

[NAV]

I posted last week that S&P and Gold had pretty much achieved it's objectives based on their prior daily and weekly buys. Emerging markets sell off last week was a preview of coming attractions in the western world. Gold and Silver topped out brutally. Gold could not take out the 1803 weekly pivot to generate a weekly buy. Gold has now fired both hourly and daily sell signals in the context of a weekly sell. The implication is we may have put in a major top in Gold. S&P weekly and daily are both on a buy, but the hourly is on a sell. So the implication is that if a correction kicks in here, we would still come back and make another high few weeks down the line. S&P's hourly sell signal today is similar to the one which we got on Jan 30. Jan 30 sell signal turned out to be a fake out. You take all the signals and sometimes you get lucky ! Not a single post title with the word "Sell" or "Crash" on TT today. Hmmm... I will post an update again if i see anything important.

Edited by NAV, 29 February 2012 - 10:06 PM.

[Echo]

Thanks for the update Nav. Doc

[Om_Namah_Shivay]

Thanks for the update Nav.

Doc

Hey NAV, what a fresh morning and exciting night it was. I have been in thick of both gold and silver last night.
Well I take it as what market gives you and you don break discipline, but when you are right you swing big.
Not bad for a third world country trader needed this self-deprecating humor to humble myself:)

I agree with your assesment of gold and silver now on daily and hourly sell and would become sell on wekly if lows are taken out.
Btw way thanks for Nifty short signal, din take it that time, but acted yesterday after playing the bounce:)........
Come on guys, give me a shout for good trading:)........what I see is people harping on importance of signals, technicals, but no one teaches the most important part of risk management but to swing big when you are right. I think high time someone wrote "Managing and leveraging your Money 101"

Just saying:)

Edited by Om_Namah_Shivay, 01 March 2012 - 12:18 AM.

[thespookyone]

I douby gold has topped more than short term. The large move off the top thay lead to the last bottom looks corrective and complete-the move off the bottom looks impulsive, imho.

[MikeyG]

I douby gold has topped more than short term. The large move off the top thay lead to the last bottom looks corrective and complete-the move off the bottom looks impulsive, imho.

Copy...

[NAV]

I douby gold has topped more than short term. The large move off the top thay lead to the last bottom looks corrective and complete-the move off the bottom looks impulsive, imho.

Copy...

Gold has broken 20 day lows and 4 week lows in a one day massacre. Price gets no respect

Edited by NAV, 01 March 2012 - 01:13 AM.

[Om_Namah_Shivay]

I douby gold has topped more than short term. The large move off the top thay lead to the last bottom looks corrective and complete-the move off the bottom looks impulsive, imho.

Copy...

Gold has broken 20 day lows and 4 week lows in a one day massacre. Price gets no respect

Its difficult when price moves against bias, but trading has come hard way to me. Not going to throw it after some bias or economic data or whatever who ever said.....i see here people with great experience in terms of years in markets and seen seasons.
I m pretty new in that comparison, but I was baptised by the 2007 blow off and then the bear market. I hope I catch up to experience of good traders, more importantly learn the right small steps that lead to good one trade and oblitrate the wrong trade early on. Amen:)

Edited by Om_Namah_Shivay, 01 March 2012 - 01:29 AM.

[vitaminm]

SPX@1370.....S@1364.....1359............R@1375-77

[thespookyone]

I douby gold has topped more than short term. The large move off the top thay lead to the last bottom looks corrective and complete-the move off the bottom looks impulsive, imho.

Copy...

Gold has broken 20 day lows and 4 week lows in a one day massacre. Price gets no respect

I have ST respect