1:04 pm
XAU :
PRETTY DARN CLOSE TO A TOP [ correction ] ... use rallies to short with an appropriate Tight Stop
XAU SELL SIGNAL
Started by
Frac_Man
, Mar 13 2008 12:19 PM
4 replies to this topic
#1
Frac_Man
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Hank Wernicki M.A.
#2
Cirrus
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Posted 13 March 2008 - 12:34 PM
I paired back on my gold holdings on the open and took off my oil holdings hedges (XLE puts/OIH short). Looking for a short sharp correction in gold and oil now. I am shorting the USO today. The OSX/CL ratio is way out of whack. FWIW I wouldn't be top picking oil here as the USO short is a play against my long energy stock holdings. I did add to BQI today and a few others.
#3
blustar
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blustar
Posted 13 March 2008 - 03:17 PM
Bought GDX puts today for April. Looking for a large 23% pull back into mid April for the miners.
#4
beta
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lasergirl
Posted 13 March 2008 - 06:47 PM
Bought GDX puts today for April. Looking for a large 23% pull back into mid April for the miners.
Thanks for the update, blustar. I started buying June 52's myself (puts), although I think there's one more leg up to go.
Edited by beta, 13 March 2008 - 06:48 PM.
"Daytrading -- An Extreme Sport !"
#5
dougie
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Posted 13 March 2008 - 10:53 PM
never seen so much top calling in my whole life as recent weeks in the gold and miners markets? what is everyone seeing that says sell and go short if i may ask? I for one am hoping you are right as I am in only 50%
