a quick 10 % shakeout to get all you guys out. Gonna whipsaw ya coolie. This baby is ready to rock and roll.
Nice shakeout.....
Started by
cgnx
, Mar 25 2008 01:37 AM
8 replies to this topic
#1
cgnx
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Posted 25 March 2008 - 01:37 AM
If it can be cornered, it will.
#2
dougie
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Posted 25 March 2008 - 02:10 AM
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
#3
Woody
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Posted 25 March 2008 - 07:49 AM
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
#4
uncleharley
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Posted 25 March 2008 - 07:59 AM
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
#5
cgnx
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Posted 25 March 2008 - 09:19 AM
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 
If it can be cornered, it will.
#6
Woody
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Posted 25 March 2008 - 09:46 AM
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.
#7
dougie
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Posted 25 March 2008 - 12:48 PM
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?
#8
dougie
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Posted 25 March 2008 - 01:32 PM
cg: why not share what you are seeing rather than bash, unless as woody says you are talking the market up to short into?
#9
Woody
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Posted 25 March 2008 - 01:38 PM
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%
