56 replies to this topic

[tria]

Gold could see a small rebound tomorrow but as I said, early next week is for me

to decide whether to close the hedge, ie sell DUST or put a stop and let it run for now.

[SemiBizz]

Semmi my friend, don't be upset but.

You wrote above:

"My memory is perfect, you (meaning me tria I suppose) took a sizeable drawdown on DUST..."

 

I haven't traded DUST for MANY months now man, what R Y talking about?

Show me the post of my 8/2 trade proves Y R right, not showing it means you R confused.

Yesterday was first entry and today I doubled, all as posted on time.

 

GDX did maxed on 8/2 and since then confuses people before another drop.

This was and still is my view.

 

Bottom line and to be fair and Politically correct,

I like and consider your support and resistance numbers, but not your directional calls.

Now if you tell me when to expect your Euro < 1.00 call, I'll be your friend forever.

 

Laz

 

Look, GDX and XAU BOTH MADE HIGHER HIGHS this week... we still have PROXIMITY to that 115.21 XAU last high from 8/27/13, and hasn't closed under the very important 108 support since 7/28.  The worst you can say about XAU is that it is sideways at the highs here... So we haven't seen any big pullback at all... this is up from 38 and still very much in a BULL.  I'm on the same page however, and I will let history serve as a guide - I have extreme patience and can wait for that 115.21 test... and then not to automatically make a trade, but to discern if it can hit some higher targets have in mind. Obviously if history is a guide - we could see a very substantial pullback, the last one made a statement when it closed UNDER 108 at 107 on that same day 8/27/13...

 

FWIW, I traded the XAU up from the 2000 lows at 41.XX and I know every inch of this chart...  Until XAU breaks AT LEAST 108 now there's not much going on the downside...

 

 

Your post saying you were getting out of DUST was not MANY MONTHS, it was MAY - that is a FEW.

 

Quote

Posted 04 May 2016 - 07:32 AM

 

Thank you Semmi for providing us with reliable and potential targets.

 

I am starting to get out of my Dust at cost

 

[tria]

Fair enough Semmi, and to conclude and summarize and not to waste much more time on this :

 

I don't trade proximity and don't care about tiny new highs or lows.

 

I traded out of Dust at cost a few or several months ago and not many months ago.

So what ? What is your point ?

 

I like more your targets, support and resistance numbers and less your short/medium term directional calls.

 

BTW how can one trade XAU, with options ????
 

[SemiBizz]

I use DUST...

 

Which just fell to a new low of 4.55 in the pre-market

 

But I am not in it yet...

 

We still have PROXIMITY to that high.

 

115.21 XAU, may be tested this morning.

Edited by SemiBizz, 12 August 2016 - 07:35 AM.

[SemiBizz]

Just one more thing... these charts give us a chance to measure PRICE BEHAVIOR - look at this daily gold contract chart I prepared, my apologies it was done on 7/30 for a radio interview I did earlier in the month so it's not up to date...

 

2 things...

 

Best shorting opportunity comes on the "Bottle Rockets"  Fastest return - most amount of points in the shortest time.

 

That last Bottle Rocket came on extreme volume (strongest on the chart) and had a high around 1360 as you can see, and what that did is frame resistance, which we just tagged again this morning.  So another great example of how VOLUME ATTRACTS PRICE.

 

 

[tria]

As I posted above but rebound more than I expected addmitedly..

 

"Gold could see a small rebound tomorrow but as I said, early next week is for me

to decide whether to close the hedge, ie sell DUST or put a stop and let it run for now."

 

Semmi,

Yes, I know since I bought the 4.49 DUST to increase my hedge once again.

 

Confusion may arise some times since I mainly comment on Gold's direction

and you on the GDX or XAU.

Edited by tria, 12 August 2016 - 09:15 AM.

[SemiBizz]

DUST trades against the GDX ETF which is miners, not the metals... as you know.

 

DZZ is your metal short, but it is a DB ETF, so you are dependent on a Bankrupt firm underwriting it...

 

There are others.

[SemiBizz]

We have a Gartley on the Gold Contract that takes it about to my volume target... 1425 (+ or - $5)  The last high is consistent with a retest... so we'll see.

 

[tria]

Common Semmi, I do knowe erything there is to know about which tracks what...

Have been in Gold since 1976....

I only said my signals are Gold based.

Now  If I wish to hedge a small part of my  Gold & Silver exposure being short  GDX via DUST

it is my free choice.

 

Anyway thank you for the tutorial.

Edited by tria, 12 August 2016 - 10:23 AM.

[SemiBizz]

Look at all the VOLUME under this move...(final green box)

 

POWERFUL