Also the S&P 500 had a screamer of a short-cover rally into the close - 40 something points.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #11,601
- Oct 4, 2011 3:10pm Oct 4, 2011 3:10pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #11,603
- Oct 4, 2011 3:20pm Oct 4, 2011 3:20pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #11,606
- Oct 4, 2011 3:46pm Oct 4, 2011 3:46pm
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.
- #11,607
- Edited 5:46pm Oct 4, 2011 5:08pm | Edited 5:46pm
- | Joined Oct 2011 | Status: Trader | 112 Posts
Shame, My sport Gold short approaching the SL, oh well, really I wish it would go down so I could buy more at a better price...
But on the other hand, have a Long on silver
and a Long on the SP500, though I thought long and hard about opening the Long on the SP500, even though I see strong support at the 1080 region, and even stronger at 1050, and 1008, however as I think the slightest whiff of bad news from Europe, with Greece in the spotlight, and even some news of the Germans ring fencing their banking system , could cause the markets to fall much further and the sP500 with it, I was very cautious but entered long at 1080, and Sl at 990, as the contrarian in me reckoned on at least a bounce, however now I am I am thinking of bringing Sl to BE on the SP500 Long because I can still imagine a sub 900 figure in the very near future..... and would prefer to risk a gain now and buy on the dip 
On other news what do you think on the news from the CME on the Level raised to $500 mln how do you think this will play down, I am thinking it may cause a dip at first followed by an increase in confidence in Gold as a safe haven once again? by reducing panic sell offs? at least for a while... thoughts?
ps.. where have Bemac and Beeb gone? have enjoyed reading their posts (I have been lurking) for quite some time..
pps Should I be drinking and avidly reading about the markets at this time 23:21 Uk time, and waiting for the ding ding next round, Asian markets are off ? or should I be in bed
ppps anyone here like fishing?
But on the other hand, have a Long on silver
and a Long on the SP500, though I thought long and hard about opening the Long on the SP500, even though I see strong support at the 1080 region, and even stronger at 1050, and 1008, however as I think the slightest whiff of bad news from Europe, with Greece in the spotlight, and even some news of the Germans ring fencing their banking system , could cause the markets to fall much further and the sP500 with it, I was very cautious but entered long at 1080, and Sl at 990, as the contrarian in me reckoned on at least a bounce, however now I am I am thinking of bringing Sl to BE on the SP500 Long because I can still imagine a sub 900 figure in the very near future..... and would prefer to risk a gain now and buy on the dip On other news what do you think on the news from the CME on the Level raised to $500 mln how do you think this will play down, I am thinking it may cause a dip at first followed by an increase in confidence in Gold as a safe haven once again? by reducing panic sell offs? at least for a while... thoughts?
ps.. where have Bemac and Beeb gone? have enjoyed reading their posts (I have been lurking) for quite some time..
pps Should I be drinking and avidly reading about the markets at this time 23:21 Uk time, and waiting for the ding ding next round, Asian markets are off ? or should I be in bed
ppps anyone here like fishing?
- #11,608
- Oct 4, 2011 6:45pm Oct 4, 2011 6:45pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #11,609
- Oct 4, 2011 7:04pm Oct 4, 2011 7:04pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Chart:
OK.
I can't pull a 5 Year Apprenticship into a post but I can possibly raise awareness.
Current Time: 5:51 MT
Current Ask: 1,629.00
So where from here? Can I earn a few?
Depends.
I don't Scalp unless I am bored but if I were Bored...
I'd look at grabbing a few down to 1,610 but that would be a Time Filler Trade while waiting for a better Price to Buy Long.
If it gets to 1,610, I'll probably expose some funds. I'll be shooting for 1,635.
I'll also be watching Previous Lows & keeping those Prices in mind for a SL.
If the Trade runs my way, I'll be looking to modify it at ~ 1,650.00
hth
B
OK.
I can't pull a 5 Year Apprenticship into a post but I can possibly raise awareness.
Current Time: 5:51 MT
Current Ask: 1,629.00
So where from here? Can I earn a few?
Depends.
I don't Scalp unless I am bored but if I were Bored...
I'd look at grabbing a few down to 1,610 but that would be a Time Filler Trade while waiting for a better Price to Buy Long.
If it gets to 1,610, I'll probably expose some funds. I'll be shooting for 1,635.
I'll also be watching Previous Lows & keeping those Prices in mind for a SL.
If the Trade runs my way, I'll be looking to modify it at ~ 1,650.00
hth
B
Closed SP500 Long at Tp 1121.65 nice little $100+ gain on that, just opened another smaller but higher leveraged position just incase it climbs 1200+ but am looking for any indication to go short... Silver I might just let run overnight got in at 29.19 and have set TP to 31.00 thinking that the Asian market may go for the push to that level, so lets see if I wake up to happy times on that one or if I get my pants pulled down also am Long on USD/JPY , and also still waiting for an opportunity to enter into a few larger gold longs at lower prices (along with many many other people I am sure) or to decide it is bottom time, personally I can see more downside, I have a gut feeling the bears will have one more go, and maybe go deeper than expected maybe a little past the 200mda, just so the sharks can hunt out some weaker buys, and then the bulls will be back again although maybe perhaps it could consolidate and trade sideways for a bit.. my thoughts are based on the current price and historical price , inc 200mda , where I believe there will be aggressive buying if we drop below there, and my observations of market behavior, but as always I could be wrong on all accounts (and manage my bank/risk accordingly)
The market is a beast, or rather a set of them... and I am a mere flea... either way I am bullish gold, with a keen eye on the Euro debt situation, and another on what the dollar is up to.
also am Long on USD/JPY , and also still waiting for an opportunity to enter into a few larger gold longs at lower prices (along with many many other people I am sure) or to decide it is bottom time, personally I can see more downside, I have a gut feeling the bears will have one more go, and maybe go deeper than expected maybe a little past the 200mda, just so the sharks can hunt out some weaker buys, and then the bulls will be back again although maybe perhaps it could consolidate and trade sideways for a bit.. my thoughts are based on the current price and historical price , inc 200mda , where I believe there will be aggressive buying if we drop below there, and my observations of market behavior, but as always I could be wrong on all accounts (and manage my bank/risk accordingly) The market is a beast, or rather a set of them... and I am a mere flea... either way I am bullish gold, with a keen eye on the Euro debt situation, and another on what the dollar is up to.
- #11,612
- Oct 4, 2011 8:41pm Oct 4, 2011 8:41pm
Chart:
Attachment
OK.
I can't pull a 5 Year Apprenticship into a post but I can possibly raise awareness.
Current Time: 5:51 MT
Current Ask: 1,629.00
So where from here? Can I earn a few?
Depends.
I don't Scalp unless I am bored but if I were Bored...
I'd look at grabbing a few down to 1,610 but that would be a Time Filler Trade while waiting for a better Price to Buy Long.
If it gets to 1,610, I'll probably expose some funds. I'll be shooting for 1,635.
I'll also be watching Previous Lows & keeping those Prices in...
Hey!
This is my second post on this forum, i didn't read your post before entering long at 1628, I just had a huge lost of 200USD (Pretty big to me
) But my question is:
How did you know it was going down to 1610+ ???
Thanks a lot!
Regards from Chile.
let's skype: @elchinoazul
- #11,613
- Oct 4, 2011 8:47pm Oct 4, 2011 8:47pm
Shame, My sport Gold short approaching the SL, oh well, really I wish it would go down so I could buy more at a better price...
But on the other hand, have a Long on silver
Life's a bitch....so be a dog and cover it!
- #11,614
- Oct 4, 2011 8:52pm Oct 4, 2011 8:52pm
Closed SP500 Long at Tp 1121.65 nice little $100+ gain on that, just opened another smaller but higher leveraged position just incase it climbs 1200+ but am looking for any indication to go short... Silver I might just let run overnight got in at 29.19 and have set TP to 31.00 thinking that the Asian market may go for the push to that level, so lets see if I wake up to happy times on that one or if I get my pants pulled down
Life's a bitch....so be a dog and cover it!
- #11,615
- Oct 4, 2011 9:00pm Oct 4, 2011 9:00pm
It could go down to support 3 around 1550.
Judging by the way it dived today.....but a lot of the time it is just short term reaction to the bernak.
I am trying to figure out when I should unload some of my buys so I don't get caught in the chinese finger trap.....keep "hoping" that it will just continue up
Judging by the way it dived today.....but a lot of the time it is just short term reaction to the bernak.
I am trying to figure out when I should unload some of my buys so I don't get caught in the chinese finger trap.....keep "hoping" that it will just continue up
Life's a bitch....so be a dog and cover it!
- #11,617
- Oct 4, 2011 9:28pm Oct 4, 2011 9:28pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #11,618
- Edited 10:24pm Oct 4, 2011 9:34pm | Edited 10:24pm
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
- #11,619
- Oct 4, 2011 9:46pm Oct 4, 2011 9:46pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
