08:24 ET. Gold Now Negative, HallelujahDear Readers The National SOPITALIST Casino will soon be closed for today and the Wall Street ( WELFARE STATE ) will go to burbs to count money they screwed ordinary citizens out of. Ok we did not trade today, at least I did not and any of us having 15-20% speculative/investment money in the market should stick with it. Only on the break of the August Lows the speculators must exit market. INVESTOR should not care and look for additions to portfolio at lower prices.
GOld rose, but has not gone crazy on the upside, good chance for it to turn down before or just after Monday. Dollar held up , which indicates that EURO currencies may have had it. Energy had a bit of a better day than anything else. Communications VZ ATT. Incredible VZ had a 7% turnaround ( 3% up and 4% down Huh!).
03:11 ET, Gold rallied further. We should look at the GOLD oscillator and see what is going on there, But one can not short GOLD unless it breaks , at least, previous two closes. I am hedged in GOLD from 860 or so, but I am still LONG due to my core holdings. The fact that I think the rally is approaching the end does not mean I know exactly when it will end. That is the reason, I advised longs to trail stops and neutrals to stay out and shorts to place protective stops. I know everybody "reads" what they want in my writings, but please understand the context of what I say carefully... Market is not buy and sell proposition it is much more nuanced. What is your current position, what is your time-frame, what is your capital, what is your age and what are your goals ( investor speculator etc) are all of extreme importance.
04:57 ET, Dear Readers, I have repeatedly announced to lighten up if you are over exposed. Please Do so immediately, regardless what I/you or anybody thinks about the markets next direction. I will say this till my face ( or your face ) is blue. Money in the markets is not made by guessing right, but by executing right. That means managing the position sizing and loss levels...
06:02 ET, Please visit Grouptation link(Ivan Thanks for Updates). You will notice a substantial pull up in green oscillator in both indices and SP500 charts. Also, finally a slow down in the Gold oscillators.
GOld rose, but has not gone crazy on the upside, good chance for it to turn down before or just after Monday. Dollar held up , which indicates that EURO currencies may have had it. Energy had a bit of a better day than anything else. Communications VZ ATT. Incredible VZ had a 7% turnaround ( 3% up and 4% down Huh!).
03:11 ET, Gold rallied further. We should look at the GOLD oscillator and see what is going on there, But one can not short GOLD unless it breaks , at least, previous two closes. I am hedged in GOLD from 860 or so, but I am still LONG due to my core holdings. The fact that I think the rally is approaching the end does not mean I know exactly when it will end. That is the reason, I advised longs to trail stops and neutrals to stay out and shorts to place protective stops. I know everybody "reads" what they want in my writings, but please understand the context of what I say carefully... Market is not buy and sell proposition it is much more nuanced. What is your current position, what is your time-frame, what is your capital, what is your age and what are your goals ( investor speculator etc) are all of extreme importance.
04:57 ET, Dear Readers, I have repeatedly announced to lighten up if you are over exposed. Please Do so immediately, regardless what I/you or anybody thinks about the markets next direction. I will say this till my face ( or your face ) is blue. Money in the markets is not made by guessing right, but by executing right. That means managing the position sizing and loss levels...
06:02 ET, Please visit Grouptation link(Ivan Thanks for Updates). You will notice a substantial pull up in green oscillator in both indices and SP500 charts. Also, finally a slow down in the Gold oscillators.
14 comments:
Wow, what a finish! My stops got taken out (thankfully I had them relatively tight)... This is looking quite bad right now... I expect the Fed to step in soon.
Perhaps on 1/10 on cue for the WBR? =D
Dear Sang,
Welcome Out.
I stay in, looking to increase my investments, but I am acting like an investor at this point, not speculator.
Good Trading
Hi Boris,
Yes, as an investor you are correct. I'll be back in again, perhaps on 1/10. =D
We shall see how the next couple of days pan out.
Boris,
What is your feeling on the market taking a HIT but the USD holding up fairly well?
Jason
Dear Jason,
the connection is DIRECT.
Stock were going up while Dollar was declining for last 5 years. And now they are going down while Dollar is stronger...
Good Trading
Boris,
I have faith in the YBR ( or in this case the WBR), something will happen.
old john
Boris,
Can MDS now give a sell signal without any rally in between?
G.
Boris,
Where do you see this selling possibly getting support? I don't see any major price support on the indexes coming up. I feel some hard selling coming then some bailout comments by the bailout kings. Hopefully the selling is good for the USD.
Jason
Dear John,
In trading, faith is good...
Correct positioning is even better.
When everhting is in buy mode and market refuses to 'listen' to the signal that is powerful message...
That is when you get large drawdoens from MDS.
Dear GREENIE. After every buy there is a sell and and as a rule it comes on the rally, but not always. Look at the MDS charts. We are now only only half size of a max drawdown. Actually that is not so bad if we rally from here...
Good Trading
Hello Dear Boris.....
Looking at the chart, won't gold reverse and start declining once the pinkie begins turning up?
Dear Xerxes,
And just about the only that would happen if GOLD comes down in price...
You see why I say... it is not enough that the pink is down absolutely, it also needs to show the sign of slowing down the "DOWN momentum"... Not necessarily turn, but at least stall a bit...
You are now learning the details of how to use this or any other oscillator...
It pays not to catch a falling knife...
Good Trading
Dear Boris,
oscillators update file for today? I didn't get it.
Regards
Dear Ivan, you should have it in max 30 minutes.
Good Trading
The USD is showing some strength this morning against a few of the currencies but the JPY is still holding it down. I am thinking once it lets go and pops the 109.75-.80 area it could make a pretty good run.
Jason
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