Stock Market Today : June 4th - 8th - Page 22

virgin weekly POC has been penetrated. 

4hr chart

offered a very nice entry at 91

 I found this chart last week, thought it was very interesting

Quote:

Originally Posted by rando 


I think we should be observing primarily the EURUSD chart, as that is what should drive the currency markets if stocks keep rising and shorts need to cover positions ahead of Greek vote. We want to see what happens if/when EURUSD revisits the January low above at 1.2623. If short covering is unleashed, it would not be a big shock to see this pair test the primary daily downtrend line connecting the August and May highs. That TL today is way up at 1.31 which is an aggressive target, but if we get a short covering snowball effect, it could come in to play in the next few weeks (albeit unlikely to get that high).

Side Note : Anyone using Mac Software for trading? Thinking of switch up platforms and like to know if anyone has success with Mac and Iphone related Software???

Quote:

Originally Posted by rando 


Are you saying weak only on intraday timeframes? It is not a big surprise to see them taking some time off here, a number of ones I watch closely are up 10-20% or more off their swing lows, they were punished harder than spot gold and have run harder off their lows than spot gold, so it is possible they are reloading their jet packs. That said I am trimming some miner longs in kids' accounts to lock in some of the recent move.

Well normally when I play GLD I was watch how the miners are performing. Although I'm not playing it right now, I've found that miners usually move first.

When I see miners breaking down it usually leads to a sell off in GLD. And right now most miners are selling off.

edit: so far I've seen ABX and NG take out yesterday's lows. But other miners are all off the highs (NEM, GG, AUY, KGC, etc)

Quote:

Originally Posted by Red_Envy 

Side Note : Anyone using Mac Software for trading? Thinking of switch up platforms and like to know if anyone has success with Mac and Iphone related Software???

I'm on a Mac. I like it more than any other OS. But I don't trade off my phone.

miners have ripped almost 20% from lows set mid May, so a pullback wouldn't be the worst thing in the world.. lol but I do agree that miners move first

Quote:

Originally Posted by o7media 

 

Well normally when I play GLD I was watch how the miners are performing. Although I'm not playing it right now, I've found that miners usually move first.

 

When I see miners breaking down it usually leads to a sell off in GLD. And right now most miners are selling off.

Quote:

Originally Posted by charulz 

miners have ripped almost 20% from lows set mid May, so a pullback wouldn't be the worst thing in the world.. lol but I do agree that miners move first

Right, I'm just talking about a day trade. That's why I mentioned the weekly's.

Quote:

Originally Posted by o7media 

wow miners are looking weak here. Watch for a potential sell off in GLD.

 

GLD at $159. Just watching, not playing. But the 158x weekly puts are at .73.

GLD just fell pretty hard there. 158.30 now.

Puts at 1.00.

silver dropping fast

Quote:

Originally Posted by o7media 

 

GLD just fell pretty hard there. 158.30 now.

 

Puts at 1.00.

Great call there

im also expecting silver's gap today to get filled by mid next week..

Quote:

Originally Posted by o7media 

 

GLD just fell pretty hard there. 158.30 now.

 

Puts at 1.00.

Quote:

Originally Posted by o7media 

 

Well normally when I play GLD I was watch how the miners are performing. Although I'm not playing it right now, I've found that miners usually move first.

 

When I see miners breaking down it usually leads to a sell off in GLD. And right now most miners are selling off.

 

edit: so far I've seen ABX and NG take out yesterday's lows. But other miners are all off the highs (NEM, GG, AUY, KGC, etc)

WOW !!     What skill!   Very impressed I thought GLD was steady today, or going up !   Probably will go up (no idea here) just very impressed with the call... quite out of the blue IMO.

Quote:

Originally Posted by barbellman 

Great call there

Quote:

Originally Posted by buy4highselllow 

WOW !!     What skill!   Very impressed I thought GLD was steady today, or going up !   Probably will go up (no idea here) just very impressed with the call... quite out of the blue IMO.

 

Thanks guys.

Quote:

Originally Posted by charulz 

im also expecting silver's gap today to get filled by mid next week..

Silver is pretty strong today, a lot stronger than Gold. It probably will pull back but idk if it will fill that whole gap 

agree.. i dont expect the full gap to be filled.. im expecting a move down to 28 tho.. bought weekly 28.50 puts @ .25 (horrible entry i know), so a test of 28 this week would give me a bagger

if there's one thing I've learned about silver and gold manipulation is that there is never just 1 thrust down.. usually 3. we just had the first

with bernanke speaking tmr, it might not be the worst idea to have some puts/hedges on commodities

Quote:

Originally Posted by o7media 

 

 

Thanks guys.

 

 

Silver is pretty strong today, a lot stronger than Gold. It probably will pull back but idk if it will fill that whole gap