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If you day trade,,,then you are spot on...nothing go up and down in a straight line...yes there are bound to be correction...buy on dip...
But the big picture from 2000 till now is UPUPUPUP...see chart
The dark blue are gold chart. and lighter blue are the dow chart...
GOLD out climb...outshine and do better than stock..did you see the biogger picture...
i dont trade in out..i long...i can see the big picture..
richtan ( Date: 18-Feb-2009 23:07) Posted:
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Just another among the numerous postings warning about forthcoming gold correction:
| Sunshine Profits - Speculative Alert |
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Dear Friend,
Gold, silver and corresponding equities have recently been acting very strongly and if you followed us on the speculative transactions, your gains are quite impressive. This alert is being sent, as we believe it is no longer profitable to bet on higher prices in the short term, especially with the February options.
Quoting the previous Market Update:
"When do we sell? Since options value decreases along with the time they have until their expiration, it is usually best not to wait too long for a 'perfect exit'. In this case it means selling when at the first serious resistance level, or earlier if there are other signals that the trend may be reversing at least temporarily. As far as the latter is concerned, we will send you an alert, when we decide that this is indeed taking place.
(...)
As far as the important resistance level is concerned, please refer to the first chart mentioned in this e-mail (http://sunshineprofits.com/files/images/email_feb112009.png). There is a very important resistance level at $1000, however we would not recommend waiting for it to be reached to sell their call options, because of the decreasing time value. The closest resistance level that we need to monitor is $970. This is a few dollars below the previous top (closing price $978.70 on Jul 15-th. Should gold get above $970, we will sell our call options."
This is exactly what happened today and we have therefore closed our speculative positions. It is possible that we will get a little higher from here, perhaps gold could touch its previous intra-day high of $989.6. However waiting for it to happen would not make much sense from the risk-to-reward perspective. While the market could go higher, it is not really very probable that these levels will be achieved immediately.
An additional reason to close our long speculative positions is that the HUI to DJIA ratio approached important resistance level. This ratio emphasizes how much PM stocks are outperforming the general stock market. As this ratio decreases it suggests lower PM stocks' prices unless the general stock market rallies strongly. Even in this case, it is doubtful that a strong upswing in the gold and silver stocks would follow. Please check details on the chart below:
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richtan ( Date: 18-Feb-2009 22:53) Posted:
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run road another 1/4... left 1/4 stop loss 7.55... n go koon comfortably... hehe...
what a narrow escape... hehe....
lucky me.... green green green....
run road half.... n keep half... cannot tahan the pressure... hehe...
specifically on Wed... if 7.5 can not stay for half session...
me gng to take loss n go koon liao....
any good news to rescue??seems like keep going down...
come on.... Bank stake holders.... inject your $$$.... hehe...
me waiting for your rescue... hehe...
I have no doubt that Obama is a good president as he thinks for the mass. His policies will benefit the average American. His plan will give outs hands to needy American. That's why he got so much support for his election. However, his policies does not necessary benefit the rich and better off American. His tax policy will will more from this group of people and handouts to the poorer ones. That makes him quite unpopular among the rich.
Now the catch is here. Many American invest stock mkt. But sadly it's the richer one able to control the mkt. They have big fund to support their sells or buys. You get the picture!...Hope I am wrong lah, hahaha!!!
today is Wed.... 7.5 can stay half session.... green green green....
Imo, Obama is a much much better President than tat lax, war-president who believe tat the market will take care of itself without govt intervention.
To be fair to him, give him time to correct the 8 years of economic mess created by tat war-president.
idesa168 ( Date: 18-Feb-2009 23:18) Posted:
Mkt dun give Obama face. Yesterday sign $787B, it dropped. Today announce housing plan, it also drop. I think dun appear in the media may be mkt rally....hahaha!!!
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aiyo... calling for Big Stake in Bank to average down...
then me can relieve.... hehe.....
Mkt dun give Obama face. Yesterday sign $787B, it dropped. Today announce housing plan, it also drop. I think dun appear in the media may be mkt rally....hahaha!!!
aiyo... just go outside smoke... come back red liao... endurance first... hehe....
DJIA down 70+
Just another among the numerous postings warning about forthcoming gold correction:
| Sunshine Profits - Speculative Alert |
|
Dear Friend,
Gold, silver and corresponding equities have recently been acting very strongly and if you followed us on the speculative transactions, your gains are quite impressive. This alert is being sent, as we believe it is no longer profitable to bet on higher prices in the short term, especially with the February options.
Quoting the previous Market Update:
"When do we sell? Since options value decreases along with the time they have until their expiration, it is usually best not to wait too long for a 'perfect exit'. In this case it means selling when at the first serious resistance level, or earlier if there are other signals that the trend may be reversing at least temporarily. As far as the latter is concerned, we will send you an alert, when we decide that this is indeed taking place.
(...)
As far as the important resistance level is concerned, please refer to the first chart mentioned in this e-mail (http://sunshineprofits.com/files/images/email_feb112009.png). There is a very important resistance level at $1000, however we would not recommend waiting for it to be reached to sell their call options, because of the decreasing time value. The closest resistance level that we need to monitor is $970. This is a few dollars below the previous top (closing price $978.70 on Jul 15-th. Should gold get above $970, we will sell our call options."
This is exactly what happened today and we have therefore closed our speculative positions. It is possible that we will get a little higher from here, perhaps gold could touch its previous intra-day high of $989.6. However waiting for it to happen would not make much sense from the risk-to-reward perspective. While the market could go higher, it is not really very probable that these levels will be achieved immediately.
An additional reason to close our long speculative positions is that the HUI to DJIA ratio approached important resistance level. This ratio emphasizes how much PM stocks are outperforming the general stock market. As this ratio decreases it suggests lower PM stocks' prices unless the general stock market rallies strongly. Even in this case, it is doubtful that a strong upswing in the gold and silver stocks would follow. Please check details on the chart below:
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richtan ( Date: 18-Feb-2009 22:53) Posted:
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bot again... full show hand.... hehe....
mkt resilient. About to go -ve someone will buy up. See how long this war will last between the bear and the bull!
Hi Cheong Wee,
I think it doesn't matter & we shouldn't be swayed by such hearsay or rumours & getting emotional.
I rather read those postings in kitco with chart analysis, most of which had been warning of pending correction, eg:
http://www.kitco.com/ind/Trendsman/feb132009.html
http://www.thegoldandoilguy.com/GoldBullMarketCorrectionFeb17.php
cheongwee ( Date: 18-Feb-2009 01:22) Posted:
This so call ego is a killer...dont let it blind you..
if without silver and gold today , my fall will be heavy...heresay Jap and Chinese are chasing gold tonite.
http://www.cnbc.com/id/29237189 |
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bot again... half show hand... hehe...
This so call ego is a killer...dont let it blind you..
if without silver and gold today , my fall will be heavy...heresay Jap and Chinese are chasing gold tonite.
http://www.cnbc.com/id/29237189
