6 replies to this topic

[opinionated]

Simple As That...

 

Any news even will just be a place to get long.  We are having rotational corrections... One Sector to another.  For me to trade is looking outside the box.  I exited my Gold Long call today in GDX which paid just OK.  A bit disappointing because I picked the bottom in gold at around 1263 and got long there. But GDX lagged the whole way.  I made about 50% on the trade but had I played it on GLD I would have been more like 150%  K-Sara...

 

I have been playing individual stocks and been killing it.  Covered shorts on AAOI, And shorts on UTLA,  From the Parabolic arch failure I posted a link to last weekend I believe.  That is the way to go,  for now anyways.

 

I found these trades on the site I recomended it has been nothing short of amazing.

 

http://www.surinotes.com/index.cfm

 

Best....

 

[dowdeva]

Thank you!

 

Best of luck to you.

[opinionated]

Got out of Gold because I am seeing a down/sideways move coming back to the 1290-95 area by thursday. The following week I see the up move kicking into gear, looking for  1320 first then 1345. I see the move going to 1420 area as a 1/2/3 Elliott predicts.

 

I also see a move down in SPX to the 2520-30 area by Tues/Wends then off to the upside again.  I am flat now but looking for an interesting week ahead.

[dowdeva]

I have a projection to 2490'ish,  but 2500 might cap it.

[opinionated]

Anything is possible,

 

But it will be very hard for a sustained move with the Tax blubbering going on.  (IMHO)  My cycles turn back up tuesday afternoon so I will wait for that to consider taking a long position in SPY.  Gold I see lower and that will be my trade as I see it as most predictable. Even without a news event that thing wants higher...  actually there has been more interest in gold across the pond than here, That is a very good thing with underlying strength. (IMO) Just like Bonds,  There is no reason for bonds to be spiking like last thursday/friday, with everyone knowing intrest rates destined to increase yet they are getting volume with price spikes. This (IMO) is because of the extreme risk the world perceives...  Thus I personally see gold as a win/win with or without news.  And with news even higher quicker.  And I do see a small pull back to flat this week, I think thats what the miners were telling us this week. GDX rallied this week lagging, then kept bumping it's head on 23.90 with quick pull backs to 23.60/75. Usually Miners lead on a real move. after this bounce I think they will.  But I will trade via XAU/GLD as projections there are 131 GLD and probably 135/137.

 

BUT still the money to be made behind the curtains is where the real trades are. My trades on AAOI/UTLA are the best returns I have ever gotten by far, and I owe that to Surinotes 100%

 

Here is his weekly PDF recap http://www.surinotes.../CPAT/CPAT5.pdf

 

Best of luck DD

[Geomean]

Scanning services can be super.  Suri is a great coder and technician and it's been fun to watch him go from a poster of excellent code in the Tradestation support forums to a technician with a public face.  Thanks for posting the notes link.  He keeps improving what he is doing.

[opinionated]

NP Geo,

 

I don't know him as you do but been following him a long time.  But never took his trades....  I think the main reason for his open TA is he sells the codes for the indicators.  Which to me is a bit to much but to each his own. I use TOS myself and there is so much power in that I could never figure it out. Do you post on any other forums?  I don't use trade station so doubt I could follow you there.

 

Best