06/06/2012 Live Update

[brandyjoco]

Looks like $GOLD is over the 50MA (which was 1623) that is good. Next stop needs to get over 1640...

[louie]

For your reading pleasure. NOT NOW, it's too long, but may give insite to what da boyz are up to in new trading environment. Just bookmark to read after the close:
http://www.credit-suisse.com/us/asset.. ... _paper.jsp

just showing an error, nothing opening up

sorry, here is PDF:
https://www.credit-suisse.com/asset_man ... 042012.pdf

[Al_Dente]

what on earth happened?
NEWS????
Even DBV went honey badger…

[uempel]

If SPX breaks back into the black channel at about 1315 I'll be confused...

[KeiZai]

Euro res here

Russ

SP

[soku]

i think it is bottomed in mid-term. i am expecting a recovery summer.
intraday, i hope es can dip to 1290 and then back up.

[louie]

Watching GDX this morning. Two strong signals volume spread signals in the last two 10 minutes time frames

[TraderGirl]

Trader Girl,

There is strong resistance in GLD at 159ish and GOLD needs to get above 1640. Right now GLD is at the top of the bollinger band at 158.82 and GOLD touched 1640 but went down a bit.

Could it be that the June 6 turndate will take gold down ? I really would like to buy NUGT but I am concerned that GOLD needs to go over that 1640 price...

Does anyone have any clues on this? Thanks - Brandy (p.s. off to work after I take the kidos to school...)

Yesterday I posted a chart of GLD saying in terms of wave count it could use another leg up to wave 5...we got that today. Whether this is the correct count or not I am not sure, but if correct then it could pull back some here before going higher. As I said, the astro's favor more up into June 26th. Whether GLD keeps going up into that date I am not sure, Gold and Silver are not predictable, but it has positive energy into that date...

Also, GLD has hit resistance at this trend line before...

[OverUnder]

This channel seems important.

[brandyjoco]

Tradergirl - thanks for the great charts!

[TWT]

DAX (Future): The rebound has more "legs" I expect a Zig Zag

[Orbiter1]

Déjà-vu?

[KENA]

If SPX breaks back into the black channel at about 1315 I'll be confused...

Good-Bye.png

Maybe..Mkt did break thru the 1295/1300 with ease so maybe higher for the next 3 to 4 days Lets see.

[KENA]

i think it is bottomed in mid-term. i am expecting a recovery summer.
intraday, i hope es can dip to 1290 and then back up.

Hi soku..Where you been???

[louie]

Watching GDX this morning. Two strong signals volume spread signals in the last two 10 minutes time frames

Sorry guys, should have mentioned I entered NUGT right then at 14.05.....just soooo much going on

[EvilTrader]

Yeah, its an expectations game.

Sell rumors, buy facts stuff. I was pretty sure we bottomed based on NYMO pattern. Now next stop in my book is a zig-zag up to spx 1350.

Just saw a JPM chief guy at Bloomberg saying theres no possibility ECB and FED wont print money like crazy if things go worse.

So theres your maniac market going depressed and euphoric week after week.

Its a tough mental game, but thats how we make money.

This time even Cobra didnt believe his own best bottom signal, just a remark to say how difficult it is to see things clearly.

[lcgllc]

"Risk on...its different this time...right?"

[TWT]

GOLD: A fiver means more upside ahead. I am now waiting for a coreective pullback

[lcgllc]

Global ES hitting the 10day, perfect excuse to pivot lower....but it may over extend to reach the 20day at 1309...that would be a very nice short

[TraderGirl]

I posted a chart yesterday of SPX saying we could get a (C) wave up...

It retraced more than 50% of what I thought was wave 3, so now, thinking we could have had an abc to complete the 5th wave down. And instead of being in a wave 4 we could be in an overall wave A, therefore on the next pullback, I don't think we will see a lower low....IMHO...