tag:blogger.com,1999:blog-1708908742323002823.post7519886140119997221..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Golden See-SawTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-1708908742323002823.post-17615408578170966492013-11-08T07:04:05.743-08:002013-11-08T07:04:05.743-08:00For all the "stackers" buying physical g...For all the "stackers" buying physical gold or silver you have to remember that these dealers are immediately shorting your purchase so the more physical buyers the more short interest increases in the futures. <br /><br />Suppose the physical buyers aren't aware that all this hedging going on is actually driving the price lower. So you might be better off buying paper bullion instead? <br /><br />Just a thought. The News UNIThttps://www.blogger.com/profile/02597408419488351139noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-47908470913149956372013-11-07T11:36:56.017-08:002013-11-07T11:36:56.017-08:00If nothing is happening on gold, it's not the ...If nothing is happening on gold, it's not the case of other markets.<br />I'm not usually talking about them because it's not the theme of this blog, but short term, very nice config shorting the SP500, first target just reached 1750 second target 1730 last target mlh inf going up of pitchfork around 1710. Nice config spotted with both MACD and Bollinger bands for the short entry point (double top played). So much easier than trading gold lately...<br /><br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-11280542019309651142013-11-07T11:05:12.099-08:002013-11-07T11:05:12.099-08:00To French speakers / readers, a good address to di...To French speakers / readers, a good address to discuss about fundamentals : http://cafebourse.wordpress.com<br />I'm sharing the thoughts of the webmaster there from his last post.<br />He compares recent years of QE with the situation of a stalling plane.<br />An unexperienced pilot would have the reflex to pull on the stick, which is extremely dangerous. Instead when stalling, you should let the plane accelerate a bit down to get back some sustainability.<br />Same with last years : the velocity of money stalled. Velocity of M2, or of MZM. But instead of accepting the stall (accept some deflation), our pilots are pulling the stick with QE, QE and other "inflationary" policies, which is extremely dangerous.<br />We are closing to the ground now, and more QE will eventually break down the confidence in the dollar. That's where we'll see a crach in many markets now in bubble territory.<br />The When is impossible to forecast with accuracy, but I like the image.Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-26502627038530166112013-11-07T10:52:11.403-08:002013-11-07T10:52:11.403-08:00P.S : but should we break through 1270, I'll p...P.S : but should we break through 1270, I'll probably revert and short the market, targeting once more 1225 as first target.Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-88899693553862861912013-11-07T10:44:28.172-08:002013-11-07T10:44:28.172-08:00A quick observation about gold prices today.
Gold ...A quick observation about gold prices today.<br />Gold bounced exactly on the mlh inf of the upwards pitchfork you can see on my previous chart in daily chart units. Usually, I would have been inclined to put a buy order right there, but you remember, I mentioned the fact that my experimental indicator, the CDur, was going down with both its lines, which was rather bearish in terms of cycles of impulsions, therefore a bearish bias for me, so I didn't and still do not buy on this support. But anyhow, it held today and Andrew's pitchforks show once again that they are a nice tool to have to follow price actions. I love pitchforks, Fibonacci, Bollinger sometimes only, and then some axis to follow on MACD or OBVD. A few indicators only, I try to keep it simple, but understand them well.<br />Also not very bullish is the fact that we didn't reach the median of this pitchfork, but stalled, and are testing the mlh inf. But hey, as long as this support holds, I'm not bearish, simply once again neutral and bored regarding price action.<br />Also, many time units show 1270-1275 as a support zone, on prices, on Bollinger Bands, or on mlh inf of monthly pitchfork.<br />Right now I have a blind buy order in this area, just in case the market drops abruptly and I'm not there :)<br />I feel better to buy at 1270-1275 than 1296 because of the short term CDurs goind down in sync.<br />So my current positions : long stop above the range once more, and long 1270 area as well limit. Nothing else. I don't like being on the short time of gold even via CFD paper speculative position :)<br /><br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-91413359156332122562013-11-07T10:22:38.154-08:002013-11-07T10:22:38.154-08:00right on Wolf; the true volume from the old days h...right on Wolf; the true volume from the old days has vanished; it is all about the hose jockeys now; algorithmic pointy heads; sparksAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-60741840214257486412013-11-07T10:03:19.369-08:002013-11-07T10:03:19.369-08:00Let's see where GOLD goes when all currencies ...Let's see where GOLD goes when all currencies devalued by % which will occur is occurring and will continue to occur. Let's see the MSM PUMPERS continue to keep attention spans glued to fake markets while all CB s devalue untill all currencies become toilet paper and market volume approaches 25% of pre 2008 highs. Right now volumes of trading down to 35% from 2007. Phantom algorithm driven markets will disappear. White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-91457586400187968342013-11-07T09:49:37.226-08:002013-11-07T09:49:37.226-08:00So gold is now at 1308, and you buy physical at th...So gold is now at 1308, and you buy physical at that price. What is your physical worth when gold hits possibly $1000 3 months for now? $1000, correct? Maybe you could finally be the one to explain this paper vs physical which I just don't seem to get. All miners also sell at the paper price as per the Comex, so they move up and down with this price, no so called "phzzz" as the goldbugs fashionably call it.The Prophet Elijahhttps://www.blogger.com/profile/11595344655963613167noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-83268138598325747902013-11-07T09:40:42.157-08:002013-11-07T09:40:42.157-08:00Prophet
Not going where anyone goes at present. St...Prophet<br />Not going where anyone goes at present. Staying out...buying physical only for now. Market is not a market. Gambling pit in a world I know longer trust. White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-23238267587980735902013-11-07T09:35:28.022-08:002013-11-07T09:35:28.022-08:00One thing I've learned from all this is be car...One thing I've learned from all this is be carefull about getting info from gold pumper sites, like ZeroHedge. Watch the charts and what the market is doing, that's the real story, no matter what John Williams of Shadowstats says. He might be right but you gotta go where the money goes to be a winner in this game.The Prophet Elijahhttps://www.blogger.com/profile/11595344655963613167noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-24591226616263359932013-11-07T09:31:44.640-08:002013-11-07T09:31:44.640-08:00http://www.zerohedge.com/news/2013-11-07/q3-gdp-ro...http://www.zerohedge.com/news/2013-11-07/q3-gdp-roars-28-despite-weakest-consumer-over-two-yearsWhite Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-13612837422231287882013-11-07T09:28:59.288-08:002013-11-07T09:28:59.288-08:00I guess inventory stuffing now means strong GDP? ...I guess inventory stuffing now means strong GDP? LOL...White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-78059665152544787592013-11-07T09:22:27.808-08:002013-11-07T09:22:27.808-08:00Judging by the strong GDP I'm also guessing to...Judging by the strong GDP I'm also guessing tomorrow NFP numbers should reach expectations. This might be the final death knell for gold. But who can say for sure, gold is always full of surprises.The Prophet Elijahhttps://www.blogger.com/profile/11595344655963613167noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-23965284373540864732013-11-07T09:01:33.612-08:002013-11-07T09:01:33.612-08:00Marks comments this morning stocks exploding highe...Marks comments this morning stocks exploding higher...WRONG<br />GOLD TANKING..WRONG.<br />PAPER GETTING SCIZZOREDWhite Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-65595093875427694382013-11-07T08:49:09.040-08:002013-11-07T08:49:09.040-08:00Mark
I am still waiting for your yes/no answers t...Mark <br />I am still waiting for your yes/no answers to my last email...<br />as for coffee, if you put it in the same category than gold, up to you...Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-40426402826954825622013-11-07T08:44:14.438-08:002013-11-07T08:44:14.438-08:00DBC now plunging to 52-week lows.
Check out the c...DBC now plunging to 52-week lows.<br /><br />Check out the chart of coffee if you want to see what the future gold price is going to look like.<br /><br />Zero inflation.<br /><br />None.<br />Nada.<br />Zip.<br /><br />Looks like the "currency event" has already happened.<br /><br />A huge upside explosion in USDX.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-21152395562751271292013-11-07T08:26:30.772-08:002013-11-07T08:26:30.772-08:00Hi steve,
To answer your last question, bah I don...Hi steve,<br /><br />To answer your last question, bah I don't try to find a reason why there was such a whipsaw on gold today. I'm trying to remember the times when I was day trading and it was very often intraday that I could see this kind of move when you had a boring range.<br />Bim. Boom. Blood both ways outside the range and back in the middle.<br />I still think it's an algo thing most of all, to casually hit stop losses.<br />In that exercice, I'll be very transparent, because I have no idea if I'm right or wrong, except I saw that being persistent usually eventually brought a positive gain.<br />Today I bought stop at 1323.x just above yesterday's highs, and I had an automatic stop sell order in place then at 1315. So both went and I lost 8 pips on a small line.<br />I'm back buy stop at grossly the same level, with a line a bit higher.<br />It happens, but is very rare that I am stopped like that many, many times without getting out of the range and eventually getting back my previous losses. It happened a few times, and it's hard psychologically. Many times it worked fine and the trend out of the range more than compensated the whipswaw.<br />I'm not lecturing anyone, for everbody has his trading method.<br />We'll see what it gives on this one.<br />Today I lost 8 points on a small line.<br /><br />Eurodollar, statu quo imho around 1.30, and each CB is making the most of an imbalance to depreciate further their currencies (lower rates, etc...). OK babies crying, gotta go.Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-20479989220869046802013-11-07T07:08:52.551-08:002013-11-07T07:08:52.551-08:00spot on, Dan!spot on, Dan!Anonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.com