Friday
Trading The Dax
We took profits at 4755, booking $200 from our short Dax from last night. We still have our 4700 position open, but wanted to lighten up before trading resumes tonight. The German Dax is closed for Maifest (May Day Celebrations), but Futures are open for trading. So it will be a traders fest, potentially ignoring any fundamentals and guided by the Dow for the night. Our indicators suggest a big move is coming either tonight or Monday. Short term indicators suggest markets may recover tonight - hence our defensive position by staying underleveraged. The charts look like a pull back is due any time - it is typical for peaks to take time to evolve, whilst troughs are usually rapid and acute in movements.
We also look to take a long position in Gold, and look to get in as close to 870 as possible.
For the night, we will only trade if markets make a big move. Despite our indicators suggesting an up night, we are NOT keen to open additional long positions (we are happy with our exposure via our Agriculture ETF and Natural Gas ETF and our portfolio of stocks). Continue…
All entries filed under Gold and Silver
no responses - Posted 03.19.09
All our indicators suggest Silver and Gold are topping and will pullback in the context of a greater rally. It was pulling back down nicely until goverment intervention triggered a series of acute moves: Treasury Bonds spike, USD dropped, Gold and Silver reversed course and surged, welcoming news of more ...continue
no responses - Posted 02.10.09
We raised our stop loss at 8200 as DJIA moved to yesterdays close as we predicted - locking in 42 points of profit (x$5), with orders to open at 8150 for $5 (tight stop at 8080). There is more pain to come so capital protection is key. We also shorted ...continue
1 response - Posted 02.08.09
Fundamentally, inflationary assets such as gold and silver will continue to go up as governments continue to bail out both Wall Street and Main Street. Unprecedented money printing will no doubt cause a shift in investments to inflationary assets. The flight to safety (ie USD and US Treasuries) is an ...continue
no responses - Posted 01.03.09
As much as we hardcore inflationists like to believe in the $3000/oz Gold Story, there are others who sit on the opposite camp who have good reasons to believe that the Gold rush is just another speculative bubble. An article we found online by John Handbury nine months ago predicted ...continue
