10/24/2012 Live Update

[TraderGirl]

dont know if this pattern is going to matter, we'll see, but looks like an expanding ending diagonal...??

[ClarkW]

NUGT renko is at a triple bottom fwiw

The attachment 1024nugtrenko.png is no longer available

Great chart Al! It's definitely decision time for GDX. I'm still long DUST but that's a longer-term play. Could see it bounce here but won't play myself. Using BB52x's charts she's in "sell the rip" mode. If she breaks that trendline quickly there will be positive divergence which I don't want personally as I'm long DUST Hope it's delayed

[TraderGirl]

NUGT renko is at a triple bottom fwiw

1024nugtrenko.png

There is a big turn date for the market and metals around Oct 31/Nov 1....waiting to see if we accelerate down or if we bounce at that time....I think we bounce...

[Al_Dente]

NUGT renko is at a triple bottom fwiw

1024nugtrenko.png

Great chart Al! It's definitely decision time for GDX. I'm still long DUST but that's a longer-term play. Could see it bounce here but won't play myself. Using BB52x's charts she's in "sell the rip" mode. If she breaks that trendline quickly there will be positive divergence which I don't want personally as I'm long DUST Hope it's delayed

Hi clark
What’s yr setting on 60min histogram macd?
Try overlay UDN in there somewhere, she works better on GLD but is useful also on GDX/NUGT
Thx

[Harapa]

VIXies Update
VIXies 5 min setup continues to favor bearish outcome for equities.

[ClarkW]

NUGT renko is at a triple bottom fwiw

1024nugtrenko.png

Great chart Al! It's definitely decision time for GDX. I'm still long DUST but that's a longer-term play. Could see it bounce here but won't play myself. Using BB52x's charts she's in "sell the rip" mode. If she breaks that trendline quickly there will be positive divergence which I don't want personally as I'm long DUST Hope it's delayed

Hi clark
What’s yr setting on 60min histogram macd?
Try overlay UDN in there somewhere, she works better on GLD but is useful also on GDX/NUGT
Thx

84,182,63

[ClarkW]

NUGT renko is at a triple bottom fwiw

1024nugtrenko.png

Great chart Al! It's definitely decision time for GDX. I'm still long DUST but that's a longer-term play. Could see it bounce here but won't play myself. Using BB52x's charts she's in "sell the rip" mode. If she breaks that trendline quickly there will be positive divergence which I don't want personally as I'm long DUST Hope it's delayed

Hi clark
What’s yr setting on 60min histogram macd?
Try overlay UDN in there somewhere, she works better on GLD but is useful also on GDX/NUGT
Thx

BTW, thanks for recommending UDN! Will do!

[Al_Dente]

VIXies Update
VIXies 5 min setup continues to favor bearish outcome for equities.

doc did u get that opening "switcheroo" before they flipped to bear again?

[Pagat]

NUGT renko is at a triple bottom fwiw

1024nugtrenko.png

There is a big turn date for the market and metals around Oct 31/Nov 1....waiting to see if we accelerate down or if we bounce at that time....I think we bounce...

could be, i'm waiting 29 (SLV)
could be also logic (fear) if stock market crash

[Al_Dente]

Nyadv = 1400
Nydec = 1200
[edit: just changed to 1500/1200]
Up volume to down volume ratio = 1.24 to 1
“chop” with slight bull bias
Bears need to get more aggressive here if they want to get the job done… otherwise

[uempel]

Noon time signal could lead all the way up to first target 1429 - or down to 1405 to retest support there, it's either a reversal or an acceleration. If Al and Harapa could comment in the 10 minutes leading up to 12:00 p.m - I sure would appreciate input. My handling of these signals lately has been subpar, few birdies

[Al_Dente]

NUGT renko

... I'm still long DUST but that's a longer-term play. ...

[/quote]
clark did u just use "3x" and "longer-term" in the same sentence?
Oy, I gotta go take my meds

[Harapa]

VIXies Update
VIXies 5 min setup continues to favor bearish outcome for equities.

doc did u get that opening "switcheroo" before they flipped to bear again?

I did but ignored it because in 1 min setup VXX & XIV bear.

I used this for confirmation and not for trading.
I do pay attention to what your girl friend does

[ClarkW]

NUGT renko

... I'm still long DUST but that's a longer-term play. ...

clark did u just use "3x" and "longer-term" in the same sentence?
Oy, I gotta go take my meds [/quote]

Ha! I didn't say I was smart Al couple days to a week is all.

[Harapa]

Noon time signal could lead all the way up to first target 1429 - or down to 1405 to retest support there, it's either a reversal or an acceleration. If Al and Harapa could comment in the 10 minutes leading up to 12:00 p.m - I sure would appreciate input. My handling of these signals lately has been subpar, few birdies

7.png

On the look out. Let you know!

[uempel]

Harapa & Al_Dente, did you read

Noon time signal could lead all the way up to first target 1429 - or down to 1405 to retest support there, it's either a reversal or an acceleration. If Al and Harapa could comment in the 10 minutes leading up to 12:00 p.m - I sure would appreciate input. My handling of these signals lately has been subpar, few birdies

7.png

[Al_Dente]

Harapa & Al_Dente, did you read

Noon time signal could lead all the way up to first target 1429 - or down to 1405 to retest support there, it's either a reversal or an acceleration. If Al and Harapa could comment in the 10 minutes leading up to 12:00 p.m - I sure would appreciate input. My handling of these signals lately has been subpar, few birdies

7.png

yes boss
remind us agaiin at 11:40 ish
we all need a "mulligan" today

[ClarkW]

Crude oil inventories showed a build of 5.9 million barrels vs. an estimated build of 1.8 million

Distillate inventories showed a draw of 646k vs. est draw of 1.2 million

Gasoline inventories showed a build of 1.4m vs. an est build of 500k

[Petsamo]

gambling on USO 31.61, 60 shares

[ClarkW]

Nat Gas doesn't look strong. Still holding KOLD (bought back yesterday afternoon)

Seems like the last week or so deflation is winning in this deflation/inflation wishbone world