27 replies to this topic

[senorBS]

there's a decent chance Dow is topping and gold at least and maybe miners are bottoming. As I said in the tradeer board I have some bueno norte CINCO waves muy possibly ending today in Dow and Trannnies and BKX already looked like a big cinco down and a corrective rally ending. Manana is a grande day IMO. BSing away Senor

[dougie]

manana indeed senor no bs

[tria]

We are in a final 5th wave down for this move. Short/medium term, Gold should bottom today/next Monday and Silver near 3/6. In late March another drop is a real possibility. -tria

[senorBS]

We are in a final 5th wave down for this move.
Short/medium term, Gold should bottom today/next Monday and Silver near 3/6.
In late March another drop is a real possibility.

-tria

Touch n go here, miners went to new low after early bounce, if they can rally above the early highs I like it, another weak close is no bueno. Doing some buyin down here but will adios if decline continues.

Senor

[flyers&divers]

Today I bought JAG Mar2014 $1 calls at .10 and I am going to offer the Mar2014 $2 calls at .10 on any pop so I'll have a risk free trade. If JAG does not trade over 1 by Mar2014 I'll lose the commissions. Still looking at other situations like this. I have played these games in coal and ng when they were out of favor. After that break in gold in late January I turned defensive and started selling nearby calls on NUGT and went further and further out on the buys. It helped but still at loss but I expect some back and forth and I'll end up in a desirable position. Of course if I was not biased long there were many screaming signs of persistent weakness I would have noticed. For example at Schaeffers the option put/call ratio on NUGT was not climbing during the slide, showing complacency. Regards, F&D

[senorBS]

We are in a final 5th wave down for this move.
Short/medium term, Gold should bottom today/next Monday and Silver near 3/6.
In late March another drop is a real possibility.

-tria

Touch n go here, miners went to new low after early bounce, if they can rally above the early highs I like it, another weak close is no bueno. Doing some buyin down here but will adios if decline continues.

Senor

out, just no bounce

Senor

[tomterrific14]

• Market Vane's bullish gold consensus dropped to 49% in February, the lowest reading on record and only seen previously for a single day at the important gold bottom in2008.
• the ISI (Daily Sentiment Index) dropped to 3%, a new record low since the index was started in 1987.
• GLD's bullion holdings dropped 1.55% on 2/20, evidence of capitulative selling.
finally, speculative Comex shorts rose to the highest on record:

See COT speculative shorts chart, bottom of report


Source: Meridian Macro


http://www.usagold.c...eforgoldII.html

[Rogerdodger]

Sentimentrader.com
February 22, 2013 Sentiment towards gold has shifted into excessive pessimism territory according to a broad cross-section of indicators. It needs to hold above last year's lows, however, to still be considered in a bull market.

[flyers&divers]

Can you share the strategies that you are using ? Spreads ? Calls ? Puts ?

It is a combination of Long Puts and short call spreads. It allows me to adjust positions depending on the market's action.

Denleo

Today I bought JAG Mar2014 $1 calls at .10 and I am going to offer the Mar2014 $2 calls at .10 on any pop so I'll have a risk free trade.
If JAG does not trade over 1 by Mar2014 I'll lose the commissions.
Still looking at other situations like this.
I have played these games in coal and ng when they were out of favor.

After that break in gold in late January I turned defensive and started selling nearby calls on NUGT and went further and further out on the buys.
It helped but still at loss but I expect some back and forth and I'll end up in a desirable position.
Of course if I was not biased long there were many screaming signs of persistent weakness I would have noticed.
For example at Schaeffers the option put/call ratio on NUGT was not climbing during the slide, showing complacency.

Regards,

F&D

I AM IN JAN14's not MAR14's

[diogenes227]

I really don't see any reason to be on the long side of either gold or the gold stocks until prices turn and the bullish percent ($BPGDM) pops to the upside.

Good luck and good trading.

http://stockcharts.com/c-sc/sc?s=$HUI&p=D&yr=0&mn=8&dy=0&i=p70494176026&a=290840798&r=1362184725128.png