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Uranium Update, LAM up 27% MGA up 12%
Dear Readers, as we approach the date( perhaps fatal) Sept 18, the market is showing signs of being tired. While not on outright sell, we could be there in a heart beat. Who knows , maybe we already are there. Things are so confused that even a Small JAWS opening could turn into the big CROCODILE BYTE here. I would suggest immediate Long liquidations on the break below last weeks low and perhaps some profit taking now. It is entirely possible that we get to the day being in the buy mode, not sell mode. All it would take is a couple days of not so nasty sell off. In short. Not in the market? Neither Bull/Nor Bear be at this point. But being long from the depths of August, we can afford to sit and wait with the caveats above. Bulls Need A strong day NOW!
With Interet Rates Rising
$US declining and
GOLD losing momentum/liquidity?
No need to take big chances. Sometimes it is OOOOK to wait aside.
Dear DXB, next Do/Die line for GOLD 702/Cash. Oscillators confused, but sell off will suggest more sell off.
17 comments:
Dear Boris,
what kind of market move would result in further drop of the Nasdaq 100 oscillators?
good trading
Istvan
Dear Istvan, Down move, not so up move... etc.
It is a crazy market, hard to know anymore, but this does not look good.
Only a strong move up will save bulls. As I said.
Good Trading
dear boris,
as of late yesterday many of my indicators turned into strong sell. I closed all longs and am now holding ER2 short position. I plan to hold it till late Oct.
Best,
Greenie
Dear Greenie,
GOod For you.
Congratulations.
Good Trading
"next Do/Die line for GOLD 702/Cash. Oscillators confused, but sell off will suggest more sell off."
noted, Boris..
GOOD LUCK TODAY
Dear DXB/Readers,
Perhaps it finally is lining up for all markets.
STOCKS/GOLD down into Sept 19 +-2 days and higher from there...
GOod Trading
Boris,
thanks
Old John
Morning Dear John,
GOod Trading
Boris, Looks like money is falling from the sky...and it is just premarket :)
Dear Greenie,
There is a currency play going on. I am not sure it lasts, but if it does ( JPY gets stronger) forget the stock market. It will go down much harder and faster. I am watching carefylly
Good Trading
Boris, You probably know the root of all problems today - biggest mortgage bank in UK is having a run. It was bailed out by BoE yesterday evening (California time), and since then yen spiked up.
http://www.ft.com/cms/s/0/29682764-629d-11dc-b3ad-0000779fd2ac.html
Dear Greeinie,
Thanks for the info.
Frankly, I did not know. I let the securities talk to me.
Thanks again.
Good Trading
It looks as though this market is holding up. It would not surprise me if this thing closes green.we shall see.
Dear Chrnoictown, I do not know, it will close green, but see my comment in LIMITS section.
YOu can not assume that the indicators are correct until the prices confirm them.
You do that and most of the time you will lose.
Cause the big BOYS know exactly how to paint the indicators.
GOod Trading
I think that's it, Boris. The Yen carry trade appears to be the critical support for a market that has very little underneath it at this point. As I see it, and OCICBW, it's a lose lose for the market with respect to the Fed's next action.
1.) iF they cut, the Yen carry unwinds which is very bad for shares.
2.) If they don't-this rally has been fueled by expectations of a cut-the market falls like a concrete slab from the Empire State building.
IT'S A SCREAMING SELL!
Dear Edwardo,
We/I need more time to discuss your logic. ( Being the stupid I am , I need to be told twice (: :)
Seriously, maybe tomorrow I can pick this up with you. When I can think straignt.
Good Trading
EDWARDO
The carry trade is what I think will come undone as well with a rate cut--sooo, it is bad either way. Thus the short position I have. The FED is stuck-period!!
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