07/26/2011 Intraday Watering

[Cobra]

good, very good, let's see if the 3rd touch on the upside would bring us the breakout which usually is more likely.

you see we just needed some bear juice from the double top breakdown fake out.

yes, that was a good bear trap, a false breakdown. very hard not to take the bait if you were trading down, seemed a glory time ahead.

[Cobra]

volume surge, multiple resistances, still think pullback is possible.

[agnosia]

ohh forgot to ask agnosia you still short silver?

hiram

hmmm...i do not trade silver, only crude and /es....

[hiram]

sorry i thought i read a post of yours last week saying silver below 30 before it goes over 40.....must have been another poster

[Cobra]

pullback as I said, but not bearish so far because the breakout line still held, so it could be a typical breakout pullback which is bullish. well, so far...

[Cobra]

breakout pullback then H1 which if I remember correctly, is a buy?

[Cobra]

ok, wrong memory, failed H1. Let's see how this pullback ends. so far not bearish.

[agnosia]

/cl market went berserk today, finished a whopping .29cents higher than yesterday's close. weird day today...

[agnosia]

sorry i thought i read a post of yours last week saying silver below 30 before it goes over 40.....must have been another poster

yeah no problem ... just for the record though a quick look at the chart tells me 50 before <30.

[Tabby]

sorry i thought i read a post of yours last week saying silver below 30 before it goes over 40.....must have been another poster

yeah no problem ... just for the record though a quick look at the chart tells me 50 before <30.

I read somewhere when this deal b/w Repubicans and Democrates settel down and we know it will then silver and gold will not go up more.

[BullBear52x]

new HOD will be the one I am waiting for to short, at that point we will get Neg D. Sell that Rip is on for me, until 5 DMA is taken back by the Bulls at the moment the trend change is on its first stage.

[hiram]

agreed....taking a risky flip into zsl 15 aug 20 calls today just for the fact that commex expired today and many 1600 calls turned into futures which usually means all the new owners should get a gut check between now and friday. not many just 30 for fun. same works for 40 on silver

hiram

[Cobra]

speechless, no breakdown, not strong rebound either. let's just wait and see.

[agnosia]

I read somewhere when this deal b/w Repubicans and Democrates settel down and we know it will then silver and gold will not go up more.

dollar will probably rally after this and silver and gold may pullback but longer term precious metals will outperform because the federal reserve and central banks around the world will continue to run their printing presses.... i would not be betting against metals.

[hiram]

agreed!!!!!!!!!!! also when debt ceiling gets raised dont for a second think that act 2 may very well be an american downgrade which sends gold and silver skyrocketing and the divergence i am seeing now is correct in that the stockmarket goes down after a pop and vice versa gold goes up after debt ceiling correction.....

[silicon_beaver]

agreed....taking a risky flip into zsl 15 aug 20 calls today just for the fact that commex expired today and many 1600 calls turned into futures which usually means all the new owners should get a gut check between now and friday. not many just 30 for fun. same works for 40 on silver

hiram

not only that.

This Friday should see windowing effect, end of month. and next beginning of month is right Aug 02 2011. that makes this Friday specific.
so my thought is silver/rare earth will hold or rally until this Friday. next month they might pull back.

[Cobra]

seems hit the measured move target.

[BullBear52x]

5th time is the charm?

[Dow Trader]

wow, based on this chart, and if the lines are correct, then the big move will come soon and tommorrow will be a big day, the range became so tight now

[agnosia]

i gotta run, see u guys tmrw. thanks cobra..