qqqq 44.18 - 43.48
gLD 60.75 - 59.45
uso 49.70 - 47.26 or 48.90 - 47.76 if low volatility
fxe 130.23 - 130.01
gg 26.50 - 25.50 or 26.25 - 25.65 little volatility
GOLD/OIL/GG are at the support 11:07 ET
We have rallied from about 11:20 ET time in gold/gg EURO and OIL. Took some GOLD longs, sorry could not mechanically manage to get you on, but warned the approach for you to take you own action. Please note my GLD action was intraday not to be carried overnight.
12 comments:
Hi Boris,
Maybe I missed something over the past couple of weeks, but what do you mean by "preliminary Limits?" Are these buy or sell recs, and how do you determine when they are triggered? Thanks, Fox
Dear Fox.
These are places where the markets are " attracted to". Attraction points that is. Now, once we get there markets could turn or go through in the case through we must newly construct the limits.
Good Trading
Boris
To follow up on what FOX asked you:
How do you determine the limits? Are they Fib retracements? moving avgs? Extrapolating Points Based on particular chart patterns? Trend line channels? Volume& Price calculation? Former support and resistance levels?
Thanks Boris
Dear Danno, the answer to you question is that this formula is also of a proprietary nature, but it does contain all and more indicators you mention. Particular empashis being placed on Volatility. And I owe you GG limits comeing up, just look into this post in few minutes again. Good Trading
Boris
Thanks Boris and that is what I figured. I'm very glad to hear you say that as it confirms my reasons for listening to you in the first place.
Dear Danno, Readers, one day the proprietary nature of the tools I am using maybe loosented for the benefit of the people that would join a "club" of sorts, but to do it publically at this stage would make it as worthless as all the other information on the net. I am sure any of us would want to do that at this stage.
Good Trading
Hello Boris,
Questions could well have been mine and appreciate the explanation
and look forward to it.
Thanks all..
Dear Byzanman, pleasure is all mine to have friends of Bris & Company.I know there are those that do not speak but are with us, just as well as I am swamped with trading and making money(::), but I hope to answer all relevant questions anyway.
Good Trading all Dear Readers
Boris,
To me precious metals look like it will be correcting in the near term. Looking to buy gold near $500? Is this a fantasy? Anyway, the action on gold looks weak, and I think GG will correct down to 22-23? Looking to go in at that level. What's your prognosis. So far my short on the home builders is paying off and it looks like as a group, the home builders stock will continue to weaken in 2007.
Dear Rent, congratulations on Home building stocks going down. Good Call. I would say that we need couple more weeks action to see if these home building stocks are going to new lows in 2007. At this point they are certainly due for some type of a rebound. If they keep going down, I can not see how would the GOLD not take off again as FED will figth the Economy decline with Gobs of money. I believe that Gold will gyrate, but will not reach the depths lf 500. Nothing is impossible, but for the same reason that FED will fight the recession GOLD can not go down that much. We take it short spurts at a time, but our view does not accommodate desire to purchase it for $anything less than $550. Good Trading Dear Rent.
Boris, I agree with you that the FED will try to fight and keep asset prices up and gold will definitely benefit. In the near/short term, the gyrations can by severe. I don't expect gold to hit $500 but may be near it? $520-$530? But then again, it could bounce off of $580. I would certainly buy more if reach $580 and reserve some for a possible $550 or lower. The home builders may get a bounce at this level. Will it continue upwards back to it old highs? That scenario is not likely because their profit margin is shrinking, and the growth is also be shrinking. What investor would pay a premium on companies with falling margin and growth? I will wait for spring as that will be more telling of direction of the home builders as a group. I suspect -- down.
Dear Rent,
Agree with all you say. Meanwhile you enjoy your gains from the downside in Houme Builders and let us see if we can GOLD cheaper. I am certainly with you on haveing a desire to buy gold cheap. I doubt Gold will obide by our wish though. So, as you say, perhaps by it in portions is a good idea... after all. Good Trading
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