remaining longs. Senor should say he has a traders approach to the metals here and not a long term buy and hold approach, keep that in mind as it may differ in a grande way from yours.
BSing away
Senor
Went flat again
Started by
senorBS
, Mar 04 2008 10:03 AM
10 replies to this topic
#2
swanstkdh
-
- Traders-Talk User
- 896 posts
Member
Posted 04 March 2008 - 10:07 AM
Did the same thing Senor. Just being careful and mature toward this.
#3
Woody
-
- Traders-Talk User
- 1,498 posts
Member
Posted 04 March 2008 - 10:15 AM
remaining longs. Senor should say he has a traders approach to the metals here and not a long term buy and hold approach, keep that in mind as it may differ in a grande way from yours.
BSing away
Senor
Interestingly the BPI Index at Technical Watch for 72 Precious Metal Stocks just poked above 50% compared with close to 80% on the 2006 spike up in Gold prices, perhaps background Equity Market weakness is hurting the stocks, if Equities can find some support then maybe the Gold Stocks will play catchup, plenty of people looking for a correction in Gold...and they may be right but based on the Indicators like ADX, BPI there is room to run on the upside from here, especially if this is a Primary Wave 3 Top......a run up to $1050 would certainly get the juices flowing
#4
cedartree
-
- Traders-Talk User
- 69 posts
Member
Posted 04 March 2008 - 10:24 AM
Well thats OK for you guys. I realize that we have come a long way and we are overbought, but I am staying long. I don't have time to keep a close eye on the markets and I am afraid that gold or silver might do what cotton did yesterday...shoot up 10% in one day. I think that we are in Senor's "grande wave tres". Pullbacks will be sharp and fast and hard to catch...a game for the nimblest of traders. Me- I am riding the wave with wide stops for the majority of my pm holdings.
#5
gvc
-
- Traders-Talk User
- 411 posts
Member
Posted 04 March 2008 - 11:13 AM
NEM will make a new high before this leg is done, imo
#6
senorBS
-
- TT Member+
- 11,218 posts
Member
Posted 04 March 2008 - 11:23 AM
NEM will make a new high before this leg is done, imo
unless it doesn't, and it may need to complete a much larger correction first and go significantly lower. NEM has been acting MUY MALO.
NO BS
Senor
#7
Gold3600
-
- Traders-Talk User
- 150 posts
Member
Posted 04 March 2008 - 11:27 AM
Senor! I hate to restate this again, but man you are good! 
#8
Islander
-
- Traders-Talk User
- 2,551 posts
Member
Posted 04 March 2008 - 01:48 PM
Will, SenorBS trades a lot anyway. This is a buying opportunity. $1300 is the point at which you get cautious. Best Islander
#9
cedartree
-
- Traders-Talk User
- 69 posts
Member
Posted 04 March 2008 - 03:24 PM
Senor really seems to have a talent for sniffing out tops and bottoms. Today I was home with my quote screen so I added some GDX at 52.30. I also put a stop on half my April gold at 950...but really don't want cash gold to trade under 953.
#10
lhslancers3270
-
- Traders-Talk User
- 61 posts
Member
Posted 04 March 2008 - 05:37 PM
Senor really seems to have a talent for sniffing out tops and bottoms. Today I was home with my quote screen so I added some GDX at 52.30. I also put a stop on half my April gold at 950...but really don't want cash gold to trade under 953.
940 is the old top and 937 the 50% of the range 885-990. 953 would stop you out in no man's land. Good luck with the futures ct.
