Wednesday, March 31, 2010


Sorry ......on the run for an hour... Looks like a very interesting day here with dow down 50 ...ADP numbers terrible. So be very careful shorting here. I look for reversal and a short squeeze. Miners gold silve all ripping nicely.

Will try to put an update soon on....but actively trading now.

Update I If you are able to read or make copies of this pdf...then do so to give to your associates when discussing the precious metals market. This is an inside job that is very on target. The longer term implications are apparent.

update II

London Gold Market Report

THE PRICE OF GOLD & SILVER bullion rose against a weakening US Dollar in London on Wednesday, ticking higher as Asian shares ended the day lower and European stock markets held flat.

"A close above $1097 today will give gold its sixth consecutive quarterly gain," says the daily note from Mitsui's London team.

"Silver fixes higher in Europe, gold firm," says Reuters, repeating Tuesday morning's headline.

The Euro rose towards a 1-week high against the Dollar meantime on the currency market, while the British Pound jumped once again to breach a near-2 week high at $1.5150.

"Spot gold in Euros remains well bid and did not even [dip to] our previously forecast €800 support region," writes Axel Rudolph, technical analyst at Luxembourg's Commerzbank, in his latest weekly report.

Staying "short-term bullish" on silver, "We remain medium-term neutral as long as the silver price remains contained within its three month resistance line at 17.97 and the 15.59 late-Feb. low," says Rudolph.

Adding 7.7% against both the Euro and Pound Sterling since the start of Jan. 2010, the gold price today rose above $1110 per ounce for Dollar investors.

Silver today came within 10 cents of a 10-week high at $17.61 per ounce, some 4.1% higher from the first-quarter's start.

"Whenever gold falls we see good physical buying coming in," the Reuters newswire quotes one Europe-based trader.

"Even on the private customer side, there's pretty good demand for coins and bars."

New data meantime said on Wednesday that private-sector employers in the United States shed 23,000 jobs last month.

update III
just another day of consolidation on the miners still looking like a base

update IV here is some help temo


  1. Red & Temo

    Start keeping SOL in your radar, it's chinese LED technology which has to do with green and solar power tech. Economic warfare is fought in different fronts and LED tech is an important part of the warfare which will continue. 4.32 is the support for SOL hit in Feb 5th. SOL and VECO need to be in your radar this yr .


  2. All,

    Do not just focus on Gold, Gold, Gold, this yr. Lot more money to be made in other sectors including industrial metals, LED tech,,etc than just Gold.


  3. Speaking of LED technology:


  4. Thanks Joe. You are correct opportunities need to be watched in several sectors.

    Good read Kli. I was thinking about the Hunt brothers as I was reading.

    Veco that I mentioned yesterday might be worth a short at the current level.

  5. Temo,

    Gold is not THE ITEM, it's just ONE item. Energy and energy related issues and by that I am not just talking about oil, all the tech related to energy including LED is also extremly important. If people just focus on one item then they miss the whole picture. Never ever limit your focus.


  6. Analyze,

    S did a nice turn at 3.75 today,hope you took advantage.


  7. Joe, I have been out of pocket and not trading yesterday or yet today, late to the game and trying to adjust now. I may just wait for tomorrow since I am out of synch, unless I spot something to hit. - Analyze.

  8. S is my #1 long term holding. They look to be getting exclusivity with the first blackberry slider, which will be the first blackberry running OS 6.0. I also wager they'll be getting the iPhone along with maybe TMo. I don't know why folks assume verizon will get doesn't help their business at all.

    Anyone trading in RNOW? They have been grinding up - finishing an accounting transition that should help their bottom line one of these Qs (subscription revenue). Low volume, low # of shares, low valuation (IMO) compared to some of the pigs in the SaaS space like CRM, N, SFSF.

  9. RNOW looks nice with support at 14

  10. S also looks bullish on the 20/50 cross on the 6mo

  11. I ended up playing nothing, the setup I saw toward end of day is similar to the last big downdraft we had on a few indices, the flip side is if there is not continuation it's a short squeeze. So rather than pre-suppose, I will play what comes tomorrow. If the last couple days were indeed end of month window dressing, it sure was nothing to write home about. Having that premise skewed my expectations, and the watchlist turned out to be mediocre. Play it the same every time, it does not mean the results are there every time. Never change a trading strategy if it is historically right, but has times it does not "work". If the entry, exit, and setup are right from a risk-reward profile perspective, stick with the strategy, and play it again next time the same way. Things were too extended in retrospect, we shall see if the consolidation channels hold up or not tomorrow. - Analyze.

  12. ie. crossroads ......yellow light.....speed bump

  13. Just passing time, saving the discretionary trading powder for some CNAM or strong base/scrap metal equivalents and senior miners like GFI.

    Still looking for the VIX to head to 20+ level and a bounce setup around the 100 dma on the S&P around the 1125 range.

    Filled up my gas tank at 2.69 $/g. Local home prices still high due to the a combination of VA loans from the local military base and home tax credit, not much movement on things that are not loanable.

  14. Analyze this was one of the most anemic window dressings in a while.

    Maybe tax selling had something to do with it.

    My JAG and XRA positions are flat and today's close looked promising. As you say play what the market gives you.

    Gas in Arizona is 2.79 in Thailand its close to 2.

    Home prices in Arizona are unreal. I am looking at a townhouse that is next to the one I own. It has 3 bedrooms and mine has only 2 and its selling for half of what I paid for mine in 2007.

  15. Ouch temo....thats gotta burn yo azz

  16. Temo, last time we traded messages on SKF, ditto here. - Analyze.