Stock Market Today : May 21 - 25 - Page 14

 

 

I was expecting more of a bounce out of gold myself and it has me re- thinking my positions going forward...Why can't things just go the way i expect them too...  Ya Right..then i woke up !!!

IMO the worst blows have been dealt to coal already, inasmuch as NG prices are concerned. PCX might just be the weak animal getting plucked from the herd by lions. Now it is up to the other players in the sector to see if they can weather the doldrums by managing production, inventory, and infrastructure. The problem is the duration of this swoon in NG prices, if coal players knew how long it might last, it would be one thing, but IMO gas will be super cheap until either a critical mass of storage is exceeded, in which case gas prices will crater to a point it might even threaten the NG industry itself, or government comes in to regulate fracking, in which case lots of wells will shut down overnight, perhaps for good perhaps just until gov't inspects and certifies them for reopening. I do not see the crude sector moving quickly to adopt NG as a product of its own, just see how oil players have suppressed biofuels and more so electric vehicles over the last 30 years. The X factor could possibly be a huge deal with China if they ever need lots of extra coal.

I just took s look st the $PCX chart and all i can say is wow down 60% on almost 40 million shares..Do not try to pick a bottom IMO..

The bounce off last week's spike low to 1526 in futures was IMO a reaction to being emotionally very, very oversold in the short term. Not sure where you wanted it to bounce to, but getting back to 1600 qualifies as a big bounce in my eyes. I am hoping for it to retest anything under 1550, but at least 1565 would get my attention. The other thing to remember is that silver was something around 40 cents from hitting the post-crash (May 2011) low of 26.41 (not sure of exact low tick) and a big bounce there could be a big factor in why gold bounced where it did, despite the fact lots of gold traders saw that 1525 level as a key inflection point before it was hit.

If the Aussie cannot get back over parity, keep your powder dry, because it could be very bearish for metals.

Just don't understand that at all !

 

Selling volatility - no argument that thats happening just odd to me as this is going to be into the same period as the Greek elections! Surely we could expect some volatility during that period?

Not wishing to sound bearish or bullish just that these opportunities are usually exploited to shake up weak hands.

 

 

I was hoping for 1600 i do have a small position in the miners but just like coal they keep getting pounded but it's all bout the dollar /Euro trade right now..

same.. im starting to get a bit concerned about silver here.. thinking about hedging by buying some gdx puts

Looks like you are literally a day late and a dollar short, as yesterday's high was 1599. Sorry, I'll take a slice of cheese with that bad joke.

 

 

So true...I can barley focus on the next 10 minute candle let alone a 30 day option call or put

 

LOL...Here comes the whine..Too funny !!!  I wrote the book on a day late and dollar short

Those short term MA rejections in QQQ, SPY, and IWM are going to look super bearish if we close much lower than current levels, as it could print a bunch of bearish daily candles on top of the rejection. Could see evening star multi-day candlestick pattern as well as possible shooting stars, perhaps even what could look like a parabolic exhaustion. 5 min POC test at 1307 not out of play for today just yet. ES HOD rejected levels just over R1 (1325.50).

For that matter the GC daily candle looks pretty suicidal right now, indecisive low volume doji yesterday, setting the stage for a "left right combo" which is a doji then bearish engulfing. When the engulfing candle takes out the 8 EMA, it is a very, very bearish sign according to the guy who came up with the combo idea, Stephen Bigalow of candlestickforum.com.

[ED: combo works in reverse as well, when things are bullish]

If the NQ can get below 2543, that should get things rolling to the downside.
 

Hopefully we'll get a nice large move in the next few weeks, but as we get closer to the summer months, I am leaning towards a down market till the election is over....then who knows.

 

I think the republicandemocrat party has run out of ideas....and have spent our tax dollars like a katrina victim with a free govt credit card, and we're about to pay deeply for it.

Nice looking head and shoulders on the 5 min TF
 

Nice 75% BK bounce in PCX and the bulls hit the circuit breaker a few minutes ago.

 

Agree Politicians are clueless both left and right all they care about is getting re-elected..Democrat or Republican are owned by lobbyist who donate to their campaigns..

Ya think? When would you time stamp the last idea... how about some time in the 1990s?

 

rando did you bite on it ???

 

We should start writing lobbyists with ideas to fix the economy!