60 replies to this topic

[skott]

my "target" for NEM is around 39 to 40 area. But nobody knows for sure. Scott

[PMILLY]

skott, Do you have a timetable for your target? I've heard and read from other sources that the 38 area would be a reasonable bottoming place, but gold is so volatile that it should be bumpy ride down with lots of ups and downs. I think Tim Ord is expecting a bottom in gold sometime in April, but I'm sure there will be lots of tradable opportunities before that time. Pmilly

[skott]

sounds reasonable Philly, my timetable is this week scott

[stockbucks_coffee]

i really have no timetable also, see support around 38-40 also.

[skott]

I have managed to reenter short at 42.35. Hope I don't get toasted. How about you starbucks? Scott

[stockbucks_coffee]

sigh didn't get in yesterday (b/c my s/t indicator was goofying around with me with its signal) so just sitting watching it's okay, i been playing gold/silver stocks for 2 years so a break or 2 here and there is okay once in a while. also I do trade tech stocks 50% of the time too (but had cut that to about 25% this past 6 months because gold/silver stocks were more volatile since) kind of mad of myself of the distraction because I could had shorted some tech stocks on Monday since my s/t indicators for Nasdaq turned s/t overbought. (but I was busy Monday morning bringing my wife to the hospital for ultrasound, she's pregnant.) ohh gold/silver stocks and the stock market still in lockstep movement.

[skott]

feeling better today and have made up for my hasty exit yesterday. I will feel much better if we break 42. If that happens I won't have to endure much pain on the way to 39-40.....I hope Scott

[skott]

I think the relevant support today comes in at 41.41 but I don't know if that will hold. 41.84 is the first area of support but that looks to give way. You never know for sure but they are good reference points. Scott

[stockbucks_coffee]

another thing is the gold stocks sometimes move intraday with the rest of the stock market and sometimes opposite of the stock market...so it's hard to get a good reading of that day...but it looks like they are moving together today ohh only down to 41.86 for nem.

[skott]

notice the market action around that 41.84 number. 41.41 is my lower number Starbucks for today. not saying that will be the low or that it will hold ....just saying that is the lower support. Scott