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I have been watching this as well. It is hitting its long term trendline of support. However with Nat Gas so cheap, demand for coal is down and will drop further. As CLF is coal producer (along with iron -and with EU in recession and USA knocking on the door, demand here is falling as well), CLF may go below its LT support trend line. So be careful here.
I have been watching this as well. It is hitting its long term trendline of support. However with Nat Gas so cheap, demand for coal is down and will drop further. As CLF is coal producer (along with iron -and with EU in recession and USA knocking on the door, demand here is falling as well), CLF may go below its LT support trend line. So be careful here.
I have a great tendency to pick the good ones. The problem is I get spooked and sell at a loss. If I would've held, I would've gotten gains. That happened with POT, X, WLT, XME. I re-entered XME and wound up getting a net gain. I got lucky with F today.
5 pm GMT will have ISDA press release...rumor is: GREEK DEAL EXCLUSIVE: ISDA MOVING TOWARDS ‘YES’ OPINION ON CDSs TRIGGER
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
PS: anyone keeping score, our inverted trin (dots, not on this chart) WORKED THIS TIME !!!
Senor Al,
I got torched on NUGT today. I was moving the stops up...went and used the bathroom and it shit its pants by 5% in 5 min. Wow what a dangerous market. GLTA