29 replies to this topic

[dharma]

Thanks for that suggestion. I actually hate trading that and have some wierd thing about it. I will much rather focus on the sector as it will produce muy more profits. Thanks for the help and direction. I am still an amateur trader as yet and can "see" with that one but it is rediculous as you say to focus on one or two. It keeps me in limbo much of the time.

its not an easy game!
there is no substitute for experience!
dharma
still nibbling on oversold issues w/divergences. selectively buying.

[swanstkdh]

Thanks guys. You and senior are both my heros. Just more chatter from a not so nervous (female) nellie.

[diogenes227]

Bought a bunch of GDX off the open. Trying to scalp the bounce. Moving stop to break-even. Will be gone on the stop or the end of the day.

Good trading to everyone.

Sold half intraday for 3 percent gain.

Good trading to everyone.

[diogenes227]

Bought a bunch of GDX off the open. Trying to scalp the bounce. Moving stop to break-even. Will be gone on the stop or the end of the day.

Good trading to everyone.

Sold half intraday for 3 percent gain.

Good trading to everyone.

Flat on close. Net a bit more than 2 percent on second half.

Good trading to everone.

[dharma]

armstrongs date was the 19ththe date venus went direct. and it worked well on the broads my dates are the 20-21st for gold. i will finish my buying today. many are still looking for 850 . the 2nd shot below 865, in my book could very well have finished this down move. dharma

[diogenes227]

For what it's worth. It was too fast to post but I'm short the GDX dead cat off the open as per my overall previously-posted black-cross strategy.

At this point I'm going to let the five-minute parabolic or the end of the day (whichever comes first) take me out of the short.

Anybody using any stops around here?



http://stockcharts.c...5743&r=1957.png

[SilentOne]

hi diogenes 227,

Anybody using any stops around here?

I am sure that most are using stops on this board. The problem with PMs is that your stop might have to be really wide in order not to get shaken out of a good position (assuming a good entry). The volatilty is punishing though when on the wrong side.

I am looking for a buy by the end of this week or early next week. I'm watching Barrick for example and see that it is in its 15th week off the Jan. low and 28th week off the Oct. lows. Also a 7 week low is due off the early March low. So a 7, 14/15 week and 28/29 week cycle low is due. Will I be accommodated?

Caveat - swing trade long only with stops.

cheers,

john

[skott]

so many commercials on tv about gold, so much money invested in GLD (holdings larger than almost all nations) and we are about to have the grande rise? will they allow so many to be aboard? will this be the first time that the late nite infomercials pitching gold coins, etc have heralded the next big up move in gold.... I think not. Premiums have gotten very high in coins and bullion indicating the public has come to the trade and will get fleeced before the big move up. the gold stocks have clearly broken the 200 day and they usually lead don't they?

Edited by skott, 21 April 2009 - 01:41 PM.

[diogenes227]

hi diogenes 227,

Anybody using any stops around here?

I am sure that most are using stops on this board. The problem with PMs is that your stop might have to be really wide in order not to get shaken out of a good position (assuming a good entry). The volatilty is punishing though when on the wrong side.

I am looking for a buy by the end of this week or early next week. I'm watching Barrick for example and see that it is in its 15th week off the Jan. low and 28th week off the Oct. lows. Also a 7 week low is due off the early March low. So a 7, 14/15 week and 28/29 week cycle low is due. Will I be accommodated?

Caveat - swing trade long only with stops.

cheers,

john

john,

Glad you're using stops. Wish everyone would.

But...

I've seen traders on this board load up around the equivalent of 35 on the GDX and with complete faith and absolute determination ride it down to 17, chortling insanely all along how great the drop is so they can buy more and more until they have no more left to buy more. But it bounces back, or did this last time, and they can celebrate having lost only time and the blood they sweated silently along the way. Seems to be on this board in particular. Over on the FF board, there are really good traders putting on the trade and the stop in the same post. Here, it's as if gold is indeed the devil's metal, bouncing again and again just enough to trap another Rumplestiltskin, deceive another Midas, for a time when it does not come back or finally takes forever to come back. Gold as been a bear before and will no doubt be again (and might even be right now). When the Spanish Armada set sail for England, intent on punishing those English pirates for stealing Spanish gold, if someone had yelled "stop!", Spain might still rule the world. But Spain was trading gold in those days without a stop and the rest is history.

Cheers to you too.

[dougie]

good posts. that is one strategy. will it be better for most than buy and hold from 2001?