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Julius- Thoughts on precious metals FFTA


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#201 TakeAStepBack

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Posted 03 July 2012 - 04:50 PM

:lol:

#202 TEO

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Posted 03 July 2012 - 05:01 PM

Congratulations on your special day.

#203 PeaceFrog

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Posted 08 July 2012 - 11:45 AM

what's going on with Gold? Is it going to plummet soon?

#204 Julius

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Posted 17 July 2012 - 02:10 PM

something is going on at Sprint. Not sure what yet but bought the 1st 1000 shares @3.53.

#205 Julius

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Posted 17 July 2012 - 02:11 PM

what's going on with Gold? Is it going to plummet soon?


Who cares until it's at a buy point?

#206 MeOmYo

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Posted 17 July 2012 - 03:20 PM

Analyst Actions: Credit Suisse Ups Sprint Nextel PT to $6 from $4; Shares Up 3.5%
BY Midnight Trader
— 10:55 AM ET 07/17/2012
10:55 AM EDT, 07/17/2012 (MidnightTrader) -- Sprint Nextel Corp. (S) is up 3.5% after Credit Suisse reiterated its Outperform rating and raised the company's price target to $6 from $4. Shares are at $3.58 on a 52-week range of $2.10 to $5.29.
Price: 3.58, Change: 0.12, Percent Change: +3.5
http://www.midnighttrader.com

#207 PeaceFrog

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Posted 19 July 2012 - 01:24 AM

Who cares until it's at a buy point?


good point... way to keep things in perspective.

#208 Julius

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Posted 24 July 2012 - 06:03 PM

Gold is showing major compression here now. . . it is about to move one way or the other. My best guess is UP but I need confirmation before buying, even if that means sacrificing a few points.

There was a huge block trade of 7500 call contracts in the March GLD 170s today and it looks like they were bought. So somebody big thinks it's going up.

#209 TakeAStepBack

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Posted 24 July 2012 - 06:10 PM

It's going up.

#210 Julius

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Posted 24 July 2012 - 06:31 PM

buy signal just triggered when market sold off but gold held strong. Bought a 1/4 position in IAU at 15.35.

#211 TakeAStepBack

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Posted 24 July 2012 - 06:36 PM

Nice.

#212 Julius

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Posted 25 July 2012 - 05:59 PM

See how that works? Adding another 1/4 here at 15.65.

#213 TakeAStepBack

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Posted 25 July 2012 - 05:59 PM

Oh, I see exactly how this works, J.

:D

#214 MeOmYo

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Posted 25 July 2012 - 06:08 PM

what do you mean by "buying 1/4 position"?

#215 TakeAStepBack

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Posted 25 July 2012 - 06:12 PM

It's a position where you attempt a SIITB while balancing on a quarter. :D

#216 Julius

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Posted 25 July 2012 - 06:20 PM

what do you mean by "buying 1/4 position"?


Let's say you want to own $10,000 worth total. You buy $2500 to start the position, then add in blocks of $2500 until you have a full position. Then when you get a sell signal you do the same thing in reverse. Just a way to average your cost basis and your gains.

#217 MeOmYo

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Posted 25 July 2012 - 06:24 PM

gotcha

#218 Julius

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Posted 26 July 2012 - 03:38 PM

ECB vows to defend the Euro, Fed hints at QE3 by September. Both very bullish for gold. Adding 3rd 1/4 IAU today at 15.72.

Also negative headlines about Euro sovereigns needing to sell gold to finance bailouts are pure fiction to try to get people to sell gold. See through the bullshit people!

#219 Julius

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Posted 26 July 2012 - 04:53 PM

That's 11% in Sprint in a week. Take the money and run.

#220 PeaceFrog

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Posted 26 July 2012 - 08:26 PM

thanks for sharing your strategy!

#221 PeaceFrog

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Posted 26 July 2012 - 08:30 PM

there is no guarantee that gold won't drop straight down to $200/ oz... nobody knows for sure... and I definitely see the triangle forming that you're talking about Julius.

Since the breakout is usually in the direction of the trend before, I would guess it is going to shoot up too... but I just wanted to emphasize that anyone who says they know for sure one way or another is either full of shit, or manipulating the market (and I doubt those people would admit it).

#222 Julius

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Posted 26 July 2012 - 08:35 PM

Use a stop-loss at $15.34! Nothing is for sure.

#223 TakeAStepBack

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Posted 27 July 2012 - 12:23 AM

Gold is tied to currency more than commodity markets. The euro sell off scare is just that too. The ECB owns plenty. But a good confiscation to back a blundering currency helps significantly.

Gold is not going to drop unless a massive deflation occurs. Not a likely input.

#224 PeaceFrog

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Posted 27 July 2012 - 12:29 AM

so then buy some nostradingus

#225 TakeAStepBack

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Posted 27 July 2012 - 12:41 AM

Buy a bag of turds. I dont care.

#226 MeOmYo

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Posted 27 July 2012 - 07:17 PM

IVN has a nice ~8% / 2 day gain going on

#227 Julius

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Posted 27 July 2012 - 07:23 PM

Bernanke on Wednesday. . . I plan to sell on the news and look again after.

#228 MeOmYo

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Posted 27 July 2012 - 07:26 PM

think there'll be a sell off early next week leading up to it?

#229 Julius

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Posted 27 July 2012 - 07:36 PM

My guess is a runup into the announcement and then if no QE3, a retracement of some sort. Monday I'll move the stop up to 15.81 on IAU and then keep trailing it up if we keep going higher.

#230 Julius

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Posted 23 August 2012 - 06:10 PM

Selling IAU at $16.26 after a quick run, looking for Gold to pull back to 1642 before continuing its run. Longer term resistance is just short of $1800 so if you're a long term player, that's your target.

#231 melissaphish

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Posted 24 August 2012 - 02:16 PM

I like the actual shiny metal. We have some silver dollars in our safety deposit box because, why not? The money was just growing dust in my savings account anyway.

Plus, they are pretty!

#232 Julius

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Posted 31 August 2012 - 05:12 AM

Working late tonight. . .

So it did what I expected and pulled back a bit but it's not at an obvious buy point and there are better things out there.

You want to make money? You wait for the next Gov't offering of AIG in Sept. and buy the living fuck out of it at that price.

#233 Julius

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Posted 11 September 2012 - 06:32 PM

Working late tonight. . .

So it did what I expected and pulled back a bit but it's not at an obvious buy point and there are better things out there.

You want to make money? You wait for the next Gov't offering of AIG in Sept. and buy the living fuck out of it at that price.


Ahem. Today is the day. This is a pure beauty because you have a level to trade against. The offering was at $32.50 so you buy and put a stop at $32.49. Max loss of about 2%, max gain of unlimited. I call that a good risk/reward.

I am loaded up.

#234 PeaceFrog

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Posted 12 September 2012 - 11:24 AM

wow... I think it's ready to go way up too, but I'm waiting for money to transfer over into my account. At what point would you say I missed it?

#235 TakeAStepBack

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Posted 12 September 2012 - 02:41 PM

When were you born?

#236 PeaceFrog

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Posted 12 September 2012 - 05:01 PM

:lol: :lmao: :rotf: :lolup: :rolling:

#237 TakeAStepBack

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Posted 12 September 2012 - 06:52 PM

:dunno:

#238 PeaceFrog

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Posted 12 September 2012 - 07:21 PM

nincompoop

#239 Julius

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Posted 12 September 2012 - 07:27 PM

wow... I think it's ready to go way up too, but I'm waiting for money to transfer over into my account. At what point would you say I missed it?


I don't have an answer to that, but the further away from $32.50 it gets, the less you can limit your potential downside with a stop until a higher support level is achieved and that won't be until it breaks above $35.30.

#240 PeaceFrog

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Posted 13 September 2012 - 06:28 PM

did you notice that it touched the 50 period Simple Moving Average right at 32.50 on that same day (daily chart)?

I think I'm going to wait until it touches the 50 SMA again... looks like it might bounce... what do you think of that strategy? There's a chance I will miss it.

The money is in my account right now.

#241 PeaceFrog

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Posted 14 September 2012 - 01:45 PM

I just saw a little intra-day gap.
I learned that gaps tend to fill in, so could this mean an exhaustion gap?

anyway I put in a stop limit order for 35.50 stop and 35.57 limit

That Order Cancels another Order for like 33.29, or something like that in case it goes down, and then after one of those orders is triggered I have to put in the stop.

#242 TakeAStepBack

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Posted 14 September 2012 - 03:20 PM

Gold and silver are going to soar.

#243 PeaceFrog

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Posted 14 September 2012 - 05:45 PM

when and why do you think gold and silver will soar, and how much do you think they will soar?

I'm still waiting on AIG. I noticed a little peak around 35, and now going down... I'm going to try and catch it on the way back up, or if it touches the 50 period SMA on the daily chart. (or crosses on the 5 minute)

#244 TakeAStepBack

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Posted 14 September 2012 - 05:53 PM

Gold and silver are going to soar going forward after the announcement of 40 billion dollars of cheap currency monthly injected into the economy. They are both up today and yesterday quite a bit. This trend will continue. I'd like to see gold hit 5K by this time next year.

#245 PeaceFrog

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Posted 14 September 2012 - 06:37 PM

are you going to sell when it reaches 5K?

#246 TakeAStepBack

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Posted 14 September 2012 - 07:00 PM

No. the money will be worth less if that happens. That's the whole point.

#247 PeaceFrog

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Posted 14 September 2012 - 07:03 PM

No. the money will be worth less if that happens. That's the whole point.


ok... then what will gold be worth 5K of?

You're trading one mostly worthless commodity (paper) for another (gold).

What is the point of that?

#248 Julius

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Posted 18 September 2012 - 11:19 PM

Gold and silver are going to soar going forward after the announcement of 40 billion dollars of cheap currency monthly injected into the economy. They are both up today and yesterday quite a bit. This trend will continue. I'd like to see gold hit 5K by this time next year.


Can't argue with that. It's a currency devaluation race to the bottom now. I missed the last part of the run but will step in this week and pick up some gold. There is nothing in the way of hitting the Feb highs of 1900 and change in the very short term, then you reevaluate. It has to make a higher high to keep going up in a straight line.

Silver is like gold on steroids and you need balls of steel to trade it but yes, it's going up too now thanks to Bernanke. Best I can figure, you're all clear up to $38. I'm a buyer tomorrow. At $38, I see sellers though.

#249 PeaceFrog

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Posted 18 September 2012 - 11:48 PM

yeah, but you plan on selling it... right? You're not having them deliver bars to your office, are you?

#250 Julius

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Posted 19 September 2012 - 12:08 AM

yeah, but you plan on selling it... right? You're not having them deliver bars to your office, are you?


Yup. Gold gets sold at $1930 and silver at $38. Both could happen real fast. You sell to the people who missed the move and watch as they get shredded to pieces and then buy back later. That's just life in the big city.