A potential stop adjustment has been posted to the website.
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When the comments go into multiple pages I can only view the first page. There used to be a highlited “newer” that doesn’t appear for me now. What am I doing wrong?
me too, could not see the page navigation links
It’s a problem with google. Hopefully they will fix it soon.
Go to the newest link at the end of the page.
It also appears if you post any comment then the newest link reappears.
You can just post a period or any letter and that fixes the problem.
That did it thanks Gary, “newest” link now appears.
Gold futures traders who took my short from the 150dma $1681 we are 30 handles in the green, look to lock in profits now, or wait to see if gold drops to the 200dma today $1643 area. Gold is now below the 50dma, 10dma, and daily cycle trendline,typically indicative that the move into a DCL has began. A DC decline can easily take gold back to the 275dma around $1597-$1600 if one wants to continue to hold and trail the move with a wide stop.
WW, ur a legend!
I second your comment, Eamonn!
Nice trade. Quick question. You said you got in at $1681. What mechanism did you use to place this order… Was this initiated by a limit order below the 150MA? At the time, the MA was $1682 and change. In real time, /GC was not at $1681 for very long.
My fills are not usually as good as yours – by watching 5 min charts and setting market orders.
Any advice you can provide to help my fills would be greatly appreciated. Thanks.
Just found this post. (WW) Good thing, I am not in real time. LOL
I always place a limit order $1 below the MA. If gold doesn’t reverse directly off the MA it will usually be $1 or so before, the high was $1681.80 which was actually .80 below the 150dma. If the reversal does not occur gold will almost certainly move well above the MA at some point, in that case I would use a tight $2 stop.
WW, this is a mechanical type question, but I have to ask it. I have thinkorswim (paper a/c). When /GC bounces down or up, how do you figure which MA it bounced off? Do you just draw a load of MA lines until you find the one it bounced off? Thanks, and apologies if its a dumbass question…
I use about 10-12 MA’s that are effective on Gold price. Gold doesn’t react to every SMA, it will move through them as if they weren’t even there. It’s the same on the 5 min time frame, I have found only a few to be consistently effective there, for one the 200. Funny how gold just had to push up to the 150dma and then reverse off it, right? The 150dma is one of those effective MA’s.
AXU looking really good here. Overbought here, sure, but IMO it is the perfect barometer of the silver mining sector and usually leads to herd on the way up.
I like EXK a lot too, but it has outperformed the rest of the sector and physical handily, and is due for some relative underperformance. There is a reason they’ve done well. Their CEO founded the company, is super smart and has a pair. EXK actually stockpiled silver when prices dropped below $30. When they’ve diluted in the past, they’ve done so at or near all time highs.
WW, thanks. I still have more questions, but enough for today!
sold last night and bought back at 1651.50…I was not sure of where the levels were, but I remembered that last week, 1651ish was the bottom.Thanks for your help in navigating the markets!
Your very welcome 🙂
POT looks like it has an IHS that just retested the neckline.
Anyone looking at that one?
Guys, what’s the view on oil, given the Iran situation?
Sophia, did you buy back in long or short in gold at 1651?
WW would you get back in short here?
zerohedge sums it up well: Little of note in the statement: no QE3 explicitly in the form of LSAP, which an S&P over 1300 and crude at $100 made prohibitive.
I could be completely wrong here (especially with Bernanke’s press conference later today), but I think gold formed it’s half cycle low this morning and the cycle trend line has now been set.
Gold has not closed below it’s 10DMA yet during this cycle, I think 1700 is coming soon.
resistance for gold at 150dma…1681
past that LOL
big money J … will it come back down once it hits 1700?
Shorts getting torched now. Wow. What does Gary always say, never ever ever short a bull market!
Thinking about another short on gold here, lets see if we can hit 1700.
wtf phase is here … up up up
Let us know WW… waiting to see!
Did we see this coming. LOL?
Well played, Bernanke. You made people so frightened that they got out of metals and miners, and even better, they were scared into the paper dollar where you can control the supply, and thus the price.
WW, you still expect it to come back down?
did everyone disappear? LOL
just got back….bought back my short at 1651.50, at least some of it…the other order was at 1645 and when I left, the market was at 1658, but now WOW….Need to look at it a bit, Silver seems to be happy to stay around 33
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