Kevin_in_GA
4,599 posts
msg #83806
- Ignore Kevin_in_GA |
12/3/2009 11:47:43 PM
Today I was getting ready to sell only my GDX stock, and I kept noticing that the price started to drop pretty quickly (at about 3:45 PM). That 's when I pulled out of my other positions. I am content to wait, all in cash for now, until I get a clear signal based on either the USD or the VIX. I doubt I'll take any positions tomorrow unless we see a signal like last Friday.
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karennma
8,057 posts
msg #83810
- Ignore karennma
modified |
12/4/2009 9:03:33 AM
My post was removed.
Okay, I'll try this AGAIN .. #*(#%$ !()%)# !!
My indicators are showing GDX going DOWN.
Also ... other mining stocks going DOWN ...
GSS (high was $4.39. I think this will drop at least a $1 ..to $3.39)
LIHR
GRS
ABX
AEM
NG
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karennma
8,057 posts
msg #83811
- Ignore karennma
modified |
12/4/2009 9:08:18 AM
I'm showing 46 Mining stocks down in the pre-market.
In fact, the only sector down in the pre-market is Mining.
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karennma
8,057 posts
msg #83813
- Ignore karennma |
12/4/2009 9:15:09 AM
trendscanner
- trendscanner 12/3/2009 10:42:09 PM
What I'm wondering is...Who pushes the sell button on day like today.I'm watching a few charts today and around 3:30, everything drops through the floor, almost in unison,
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Happens all the time ... "in unison" ...
That's the beauty of multiple monitors. You can see the "signals" clear as day.
BTW, this contraption I just ordered from TigerDirect will enable me to hook up SIX monitors to one computer.
:>)
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BarTune1
441 posts
msg #83821
- Ignore BarTune1 |
12/4/2009 10:48:44 AM
I have trouble following one monitor at times .....
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Kevin_in_GA
4,599 posts
msg #83856
- Ignore Kevin_in_GA
modified |
12/4/2009 4:06:17 PM
3:45 PM - back into AGQ (@68.10) and UGL (@50.03).
You gotta see this as a buying opportunity. I may be wrong here, but the dollar strength is short-lived. At 75.82, where it is currently at, it is impinging on the UBB(10,2). Just look at the charts to see what typically happens over the next few days, and you'll see why I bought today.
Even after dropping to $1156 an ounce, where it is on the spot market right now, it is only down about $6 an ounce for the week.
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Kevin_in_GA
4,599 posts
msg #83864
- Ignore Kevin_in_GA |
12/4/2009 7:01:33 PM
Here's today's Dollar chart:
$USD with Bollinger Bands and Stochastics
Clearly bouncing off the UBB. Couple this with a monster drop in the price of gold and silver, and it looks like a high probability entry signal for me. Spot gold and silver are both moving up again, and AH trades on UGL are up about 3% from my entry this afternoon.
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BarTune1
441 posts
msg #83865
- Ignore BarTune1 |
12/4/2009 7:34:13 PM
Kevin,
Looks good, I may take a position in your trades if a more favorable entry is available on Monday. I picked up 1,000 shars of
SDS at 35.10 around coffee break this morning and sold out around noon for 36.24. Picked up 500 shares of TIP at the close .... would appear to be the most oversold ETF on my screens.
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Kevin_in_GA
4,599 posts
msg #83866
- Ignore Kevin_in_GA |
12/4/2009 8:09:36 PM
I had a similar experience - at 10:30 AM (when the market was up big-time) I had an order for 1000 shares of TZA queued up. Price was at 10.90.
But I had nothing to go on but a gut feeling that the market would turn, as it so often does around that time of day. I decided not to pull the trigger and go to opur Corporate Health Center to work out. By the time I got done and looked where the market was, it had dropped to -16, and TZA was at around 11.75.
All in all, I feel good about the experience. I stayed dedicated to my trading plan, and now have a good feeling that I can read the market a little bit better. Trading off of gut feeling is not a strategy, even if it would have worked out profitably.
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BarTune1
441 posts
msg #83867
- Ignore BarTune1
modified |
12/4/2009 9:07:21 PM
Kevin,
Trading of your gut feeling is not a great strategy is right .... however, besides keeping my eye on the broad markets and where they are (via the VIX divergence primarily in my case) .... I always watch the first 1/2 hour to hour of trading and keep my eyes open for reversals ... especially when there is a good run up or down .... today was such a day Kevin - so there is a little more to it than gut feelings - but you are right, its hard to quantify ....
In any event, your prior posts have me looking at the charts for UDN .... it will be on my short list of prospective plays Monday if it pulls back further.
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