09/26/2012 Live Update

[Cobra]

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Flat open, so any gap will be filled.

Global ES is testing the pre-QE3-announcement level which is the support now. Not sure if it'd break through, need wait and see. The bottom line is NORMALLY this bear should have more legs, it's rare we're simply bottomed here.

[Cobra]

a little lower low on DAX, maybe a small double top, not sure, need wait and see.

[Al_Dente]

good morning

“South African Strikes Halt 39% of Nation’s Gold Output”
http://www.bloomberg.com/news/2012-09-2 ... pread.html

[dr659]

Buy Yom Kippur?

[KeiZai]

GM

EURO, if not here then nowhere

TB30Y

Long russell from 50fib, better entry point and R/R setup I cannot even imagine

[noob]

Good Morning Cobra, isn't the overnight action a bear flag and we just broke the flag pointing to 1420 ish? Thanks.

[TraderJoe]

good morning

“South African Strikes Halt 39% of Nation’s Gold Output”
http://www.bloomberg.com/news/2012-09-2 ... pread.html

Read the GOLD article I posted on yesterdays forum..

[quientuves]

Noob, i'm there too... bears are going to get their honey...

[TradersF]

Looks like it's a buy sometime Thursday/ early Friday.
You guys that follow the Russels, do you see the same thing?

Thanks

[Cobra]

Good Morning Cobra, isn't the overnight action a bear flag and we just broke the flag pointing to 1420 ish? Thanks.

hard to call here as you may read it as 3 push down therefore might due for 2 legged rebound. 50% chances I think.

[Petsamo]

RIMM's good news must be geniune. It's rallying because I sold it

[Al_Dente]

good morning
“South African Strikes Halt 39% of Nation’s Gold Output”
http://www.bloomberg.com/news/2012-09-2 ... pread.html

Read the GOLD article I posted on yesterdays forum..

i saw it with chart
why not post it here this am where folks can see it
thanks joe

[uempel]

Looks like it's a buy sometime Thursday/ early Friday.
You guys that follow the Russels, do you see the same thing?

Thanks

I've got a signal for Friday morning

[Cobra]

the open.

[TraderJoe]

good morning
“South African Strikes Halt 39% of Nation’s Gold Output”
http://www.bloomberg.com/news/2012-09-2 ... pread.html

Read the GOLD article I posted on yesterdays forum..

i saw it with chart
why not post it here this am where folks can see it
thanks joe

OK, here it is -- GOLD***

From "Business Insider - http://www.businessinsider.com/bofa-mak ... old-2012-9

Everyone loves gold these days. Deutsche Bank sees $2000 gold soon. And Citi says it could go to $2500 in six months.

BofA, too: the firm recently initiated a $2,400 target price for the shiny yellow metal since the Fed's announcement of open-ended bond buying.

However, BofA analyst Stephen Suttmeier thinks there's a case to be made that gold goes even higher than the bank's official call.

In a note to clients today, Suttmeier writes:

The secular bull case for Gold $3000

We remain secular bulls on gold. Key chart and uptrend supports between $1600 and $1400 have held and we have viewed $1550-1500 as a good area to buy gold. The breakout above the year-long downtrend line completes the correction within the longer-term uptrend and targets resistances at $1800 and $1925. But, the secular bull market for gold points to a stronger rally to $2050-2300 and up to $3000 longer-term. The top of the rising channel from mid 2005 is near $2375 and reaches the $3000 area by early 2014. Key channel supports are in the $1600 and $1400 areas and rise ~$25/month. The chart below shows the secular bull market for gold.

Here is the chart Suttmeier is looking at:



Gold futures – monthly semi-log chart

BofA Merrill Lynch

[gappy]

Spain/Ireland find no teutonic friends. ESM will not likely restructure legacy debt. EU is real tiresome now.

[TradersF]

Looks like it's a buy sometime Thursday/ early Friday.
You guys that follow the Russels, do you see the same thing?

Thanks

I've got a signal for Friday morning

Great

[Cobra]

down leg strong, so normally the very 1st rebound would fail.

[noob]

Good Morning Cobra, isn't the overnight action a bear flag and we just broke the flag pointing to 1420 ish? Thanks.

hard to call here as you may read it as 3 push down therefore might due for 2 legged rebound. 50% chances I think.

Thanks, 10am there's data again.

[noob]

down leg strong, so normally the very 1st rebound would fail.

The panic is just starting.