8 replies to this topic

[cgnx]

a quick 10 % shakeout to get all you guys out. Gonna whipsaw ya coolie. This baby is ready to rock and roll.

[dougie]

you think so? wishful thinking? what indicators of such are you using? can you point to other examples where a serious impulse down like we have had does not at aleast have a brother down? an attack on Iran would presumably be good for metals, but who knows in alice in wonderland world of the feed

[Woody]

a quick 10 % shakeout to get all you guys out. Gonna whipsaw ya coolie. This baby is ready to rock and roll.

If she's gonna bounce right here is a good spot as $XAU, GDX, $HUI all at or around their 200 ema's.........anything over a 50% retrace I would consider a shorting opportunity, with stops, as I said before, once it convinces everyone that this was a speed bump then down she goes again, all imvho of course

[uncleharley]

A close look at the 60 minute intraday chart for gld still indicates that gld could bump up from here, but volume needs to pick up from yesterday. uh

[cgnx]

Most of you will get back in only when it hits a new high. What indicators tell you Gold is going down from here? I don't really want to know. Whatever indicator that is, get rid of it. I don't understand how you can not be in the Greatest Bull market about to happen probably of all time. I guess thats why this is called traders-talk and not investors talk. Keep up the musical chairs boys. lol

[Woody]

Most of you will get back in only when it hits a new high. What indicators tell you Gold is going down from here? I don't really want to know. Whatever indicator that is, get rid of it.

I don't understand how you can not be in the Greatest Bull market about to happen probably of all time. I guess thats why this is called traders-talk and not investors talk. Keep up the musical chairs boys. lol

Simply differing trading styles, some trade 5 min charts others buy and hold for months.....depends on ones risk tolerance and personal preference etc.
Not many around here willing to stomach more than a 2% drawdown.....

I have also observed that Cheerleading can be hazardous to your wealth unless of course you are secretly short

Edited by Woody, 25 March 2008 - 09:47 AM.

[dougie]

woody: why would something "over" a 50% retrace entice you back in? wouldnt a stronger retrace be evidence that the bounce might be for real?

[dougie]

cg: why not share what you are seeing rather than bash, unless as woody says you are talking the market up to short into?

[Woody]

woody: why would something "over" a 50% retrace entice you back in? wouldnt a stronger retrace be evidence that the bounce might be for real?

Dougie, all depends on a myriad of factors, sitting here today thats the expectation, but if it looks different then I'll go with what the market says.

For the sake of the Bull I would like to see a greater unwinding of Bullish sentiment and more folks believing like Neely does ...that the Bull is over, more than likely, this is being viewed as a buying opportunity, and maybe so longer term, but in the vst likely not.

Anyway, I will be watching how the mkt reacts at key MA's and at Price resistance with a bias to shorting.

Its a very volatile market and I would not read much into a retracement of 50 to 62%