4 replies to this topic

[Om_Namah_Shivay]

DOW, SPX, GOLD are showing bullish signs on monthly, and weekly. These are strong trend time frames. Any change in trend will become first noticed in weekly. But its also true that most of them are now close to points where reversals can be played for with small stop loss and heart burn. Shops open , but no trade may come, as I m busy with other algo developments....but bias says +ve

[CRUISENAL]

This what we see in the media in the US about India and Gold. FYI.

The India section starts at about 15 minutes in. Thought it was interesting. I have friends in St. Maarten who are Indian and are in the jewelry business.

http://www.cbs.com/shows/60_minutes/

DOW, SPX, GOLD are showing bullish signs on monthly, and weekly. These are strong trend time frames. Any change in trend will become first noticed in weekly. But its also true that most of them are now close to points where reversals can be played for with small stop loss and heart burn.
Shops open , but no trade may come, as I m busy with other algo developments....but bias says +ve

[IndexTrader]

DOW, SPX, GOLD are showing bullish signs on monthly, and weekly. These are strong trend time frames. Any change in trend will become first noticed in weekly. But its also true that most of them are now close to points where reversals can be played for with small stop loss and heart burn.
Shops open , but no trade may come, as I m busy with other algo developments....but bias says +ve

Did you get those gold shorts from about $50 lower covered? Never saw an exit posted. What has to happen to get you bullish?

IT

[Om_Namah_Shivay]

DOW, SPX, GOLD are showing bullish signs on monthly, and weekly. These are strong trend time frames. Any change in trend will become first noticed in weekly. But its also true that most of them are now close to points where reversals can be played for with small stop loss and heart burn.
Shops open , but no trade may come, as I m busy with other algo developments....but bias says +ve

Did you get those gold shorts from about $50 lower covered? Never saw an exit posted. What has to happen to get you bullish?

IT

Yes got TSLd (trailing SL) on both gold and silver, and posted it day before yesterday ....its ok if u din notice, because purpose is to keep a log and revisit them. If this feb, which means another three trading days from now, if gold can maintain where it is (or close above December high) I will buy IT...but on hourly now its again giving a good short entry, ST...but just couple of days before got stopped out, so will wait for weekly closing this week and reassess next week by Tuesday/Wednesday, to build position

Edited by Om_Namah_Shivay, 24 February 2012 - 12:12 PM.

[Jhoe]

DOW, SPX, GOLD are showing bullish signs on monthly, and weekly. These are strong trend time frames. Any change in trend will become first noticed in weekly. But its also true that most of them are now close to points where reversals can be played for with small stop loss and heart burn.
Shops open , but no trade may come, as I m busy with other algo developments....but bias says +ve

Interesting topic, thanks for posting. I want to say that shorting gold has been a fool's game, and I would be very careful doing so. Having said that, your analysis of the risk reward in gold at current levels is DEAD ON ACCURATE. I would favor being short here because you can use +/- 1800 as a stop, and risk only losing a couple % points, while the downside target could be as low as 1400-1500 in the coming weeks. FWIW, I think that prior to last week, gold has traded horribly since the cme lowered margins on every commodity product several weeks ago. Typically cme tinkering around in margin levels has been bad for commodities, regardless of whether they're increasing/decreasing them. When its an outright margin hike, the negative implications are obvious. When margins are lowered, it always seems to be a pre-emptive move to "soften" the blow of a washout (see stock market futures in May '11). Again, there are many reasons for gold to go higher, and I tend to avoid trading it 99% of the time, but thats just my read at the moment.