03/06/2013 Live Update

[gappy]

Today is shopping day for gold

Please, buy physical only.

I bet Trader Joe can get you some nice American Gold Eagles......

Betcha right, he got vault keys. Anyhoo, I think miners have a long slog ahead yet until this 50% over-valuation on equities loses its luster. Just sayin.

[Platy]

Today is shopping day for gold

Please, buy physical only.

Ok so I know the trend is down but we should have a counter-trend rally into March 16, Uranus-Mars conjunction. I play both sides.

[L_T]

Today is shopping day for gold

Please, buy physical only.

I bet Trader Joe can get you some nice American Gold Eagles......

Betcha right, he got vault keys. Anyhoo, I think miners have a long slog ahead yet until this 50% over-valuation on equities loses its luster. Just sayin.

Does anyone have a long view on miners? Maybe weekly or monthly charts? I'm wondering how far they will go before hitting support. I see support in the mid-33's (GDX).

[Mr. BachNut]

Long.
It's on a short leash.

My composite trend signal is down but turning. Price is running way ahead of some key internals. So, I remain cautious.
My summation index signal is mixed but likely to go solid up today judging by the open. Have to see the close though.
There has been a lot lacking about this rally (volume, breadth), which makes me suspicious, but it is what it is.

The last week has been interesting for me.
My signals have been bearish but I ended up long.
The technicals in my signals have been weak but price has been strong.
There was an inverse head and shoulders a few days ago, and my plan was to short an anticipated failure of the right shoulder.
Instead, I ended up long the neckline break.
It has been instructive as it has reinforced 2 trading maxims: 1) Price rules, and 2) Trade what you see, not what you believe.
Signals are statistical probabilities not certainties. I want to trade the probability but not get stuck on it.
This week I managed to pull it off (pats back and momentarily gloats).
Next time, I'll probably screw it up...

[ClarkW]

UVXY wanting to change course?

[gappy]

Today is shopping day for gold

Please, buy physical only.

Ok so I know the trend is down but we should have a counter-trend rally into March 16, Uranus-Mars conjunction. I play both sides.

Yes sir, you are able, with good understanding of price/timeframes, and beta, it can be valuable as with any money-vote. I have no aptitude though, but a bigger picture is easier for me to have confidence in. Best of good trading to ya.

[TraderGirl]

Today is shopping day for gold

Please, buy physical only.

I bet Trader Joe can get you some nice American Gold Eagles......

Betcha right, he got vault keys. Anyhoo, I think miners have a long slog ahead yet until this 50% over-valuation on equities loses its luster. Just sayin.

Does anyone have a long view on miners? Maybe weekly or monthly charts? I'm wondering how far they will go before hitting support. I see support in the mid-33's (GDX).

I posted this channel when everyone was really bullish on miners...I believe at some point we come down to touch it..it may just fall through...but I assume it see's substantial support there first...

[gappy]

Today is shopping day for gold

Please, buy physical only.

I bet Trader Joe can get you some nice American Gold Eagles......

Betcha right, he got vault keys. Anyhoo, I think miners have a long slog ahead yet until this 50% over-valuation on equities loses its luster. Just sayin.

Does anyone have a long view on miners? Maybe weekly or monthly charts? I'm wondering how far they will go before hitting support. I see support in the mid-33's (GDX).

gdx.png

Dunno, but DPO looks to dump. Sometimes a price bump is just shorts covering.

[Tabby]

[quote="
I think you are keeping them afloat single-handedly

I think you should visit JCP. It looks like real store now.

[TraderGirl]

I have a couple of "potential" intraday signals... one around 9am pacific and one around 12pm pacific (probably somewhere around uempel's signal time)...

This wave 5 could be in an abc format....so let's see if we see a "c" wave up...

I altered the wave count...this could be the 5th wave of "3" rather than "C"...

[L_T]

Betcha right, he got vault keys. Anyhoo, I think miners have a long slog ahead yet until this 50% over-valuation on equities loses its luster. Just sayin.[/quote]

Does anyone have a long view on miners? Maybe weekly or monthly charts? I'm wondering how far they will go before hitting support. I see support in the mid-33's (GDX).[/quote]

I posted this channel when everyone was really bullish on miners...I believe at some point we come down to touch it..it may just fall through...but I assume it see's substantial support there first...[/quote]

Thanks. It is a scary chart for now.

[gappy]

Aw come on! Where the hell are all the bulls? That was a good ADP report this morning. I'm losin money hand over fist for crying out loud. http://www.youtube.com/watch?v=EV0luCfTmTI

[Platy]

Today is shopping day for gold

Please, buy physical only.

Ok so I know the trend is down but we should have a counter-trend rally into March 16, Uranus-Mars conjunction. I play both sides.

Yes sir, you are able, with good understanding of price/timeframes, and beta, it can be valuable as with any money-vote. I have no aptitude though, but a bigger picture is easier for me to have confidence in. Best of good trading to ya.

Thanks.... and I'm not a sir.

[TraderGirl]

XIV...may get a lower high while SPX gets a higher high...

[Cobra]

indeed the 2nd hourly bar is red, now let's see if up huge form here or simple keep going down. $SPY, $SPX, $ES_F
https://stockcharts.com/public/1684859/ ... /286407830;

[gappy]

Today is shopping day for gold

Please, buy physical only.

Ok so I know the trend is down but we should have a counter-trend rally into March 16, Uranus-Mars conjunction. I play both sides.

Yes sir, you are able, with good understanding of price/timeframes, and beta, it can be valuable as with any money-vote. I have no aptitude though, but a bigger picture is easier for me to have confidence in. Best of good trading to ya.

Thanks.... and I'm not a sir.

Oops. http://www.youtube.com/watch?v=y2sNDL6sfE8

[TraderGirl]

Where is Al today?? Miss him....

[taggard]

It has been instructive as it has reinforced 2 trading maxims: 1) Price rules, and 2) Trade what you see, not what you believe.
Signals are statistical probabilities not certainties. I want to trade the probability but not get stuck on it.
This week I managed to pull it off (pats back and momentarily gloats).
Next time, I'll probably screw it up...

outstanding. the map is not the territory. every day you see people at crosswalks pressing the button over and over. if it says walk they blindly step out. this is esp amusing when there are no cars and the stand there pressing the button. it would be wonderful to see more discussion of this. esp the mental process by which either (1) the rule is disregarded under certain conditions. or (better) (2) the rule not working provides the trade--eg the very fact that things are "not normal" means one should act differently. the mental process here is delicate--but it's that last jump. first you learn the rules--second you make them intuitive--third you see rules as sort of guidelines or tells as opposed to absolutes. any further discussion of this stuff would be appreciated.

note that people just starting out or in their first phase do best when they are very consistent with the rules--so if you are just starting you lack the intuition or learning to know or more to the point feel--when it is right to ignore the rules guidelines. to get better at this if you start with the rule and it fails--very quickly put on a PAPER trade in the other direction. keep track of (1) the outcome of the first trade (2) the outcome of the rule breaking trade. over time you will find a pattern to it--that pattern is highly likely to have something to do with the way you are looking at the market as well as the market. watching trades in general "before" you take them and "after you leave" will often teach you more than checking the actual trade itself. core issues of greed and fear quickly become visible. Again anything anyone else has to say about any aspect of this sort of thing--would be appreciated.

good luck on your trades

[silicon_beaver]

both SPX and VIX green this morning.
VIX could be right this time.

[Al_Dente]

Where is Al today?? Miss him....