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SunTrader

Market Wizard
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Posts posted by SunTrader

  2. Posted

    SunTrader

    Your levels are too far from the price. If I had to wait for that sort of pullback , all my profits would disappear.

    What would get the Gold price back up to 1100? I think NO RATE increase by the FED in Dec will do the trick.

    $ down today and what with Turkey shooting down Russian Mig, I am getting nervous

    Closed my SHORT.

    bobc.

    That zone is to go short again, not to exit a current short???

  3. Posted

    Hi SunTrader

    I like this.

    Gold is up a bit... $ down.

    When do you SELL again?

    Do you have a level/ resistance?

    kind regards

    bobc

    I'll be watching $1098-$1103 but its been so pathetically weak it wouldn't surprise me if we don't see that zone for some time - barring a screaming short covering fake out rally (or if zdo opens his piggy bank plus cashes in his equally cratering silver positions, bets it all on gold).

  7. Posted

    For all the Gold bulls.....

    Tomorrow morning the Non Farm Payroll report is published.

    The experts expect 180 000 new job created.

    Thats the number for Gold.

    If its higher than 180 000, the market starts pricing in a rate hke in Dec.

    That means a stronger $, and Gold breaks below 1100.

    It also means weaker OIL and the stock market will take a hit.

    If its below 180 000, we can all relax.

    So a strong economy , more jobs, strong $, actually sees a pullback in the market

    Does my reasoning make sense?

    bobc

    Your reasoning makes sense, but sometimes the market doesn't.

     

    Anyway the miners are getting crushed today so it doesn't seem to matter to Gold. At the moment anyway.

     

    I'd say stock market continues higher .... unless NFP is below 180,000 considerably.

     

    Oil continues lower (maybe not tomato) but overall no matter what. Supply is huge, demand isn't. Come to think of it just like Gold. :rofl:

  10. Posted

    Not so fast Suntrader

    It must break 1105 with increasing volume to go short

    regards bobc

    Oh absolutely. I wasn't suggesting a short just yet. Just repeating my guestimate of new multi years lows coming. Note today's up day volume was nothing special.

     

    Though one helluva short covering rally today. Counter trend moves are always quick and dirty. Don't know if you have it on your chart but "they left behind" a gap up that will get filled. Just a question of how soon.

     

    Have a good one.

  12. Posted

    Here is some funnymental news for a change - from me at least.

     

    (Charts and more details at the link):

     

    Inside Futures: Relevant trading-focused information authored by key players in the futures, options and forex industries

     

    While platinum production remains constrained, gold production continues to grow. The World Gold Council anticipates 2015 to produce a record 3088 tonnes, or 108 million ounces of gold. Like platinum, gold demand is expected to outpace new supply, as the WGC anticipates 2015 demand of around 4000 tonnes. However, unlike platinum, gold has a massive reserve of above ground supply (183,600 tonnes at the end of 2014) from which to meet this deficit.

     

    Given the relative scarcity of platinum to gold, platinum should trade at a premium to gold. After all, the current above-ground stocks of platinum are only around 4 months’ worth of 2015 production, while current above-ground gold stocks are over 60 years of 2015 production. Historically, platinum has traded at a premium to gold. Recent market events, however, have inverted these prices, with gold currently trading at about a $200/oz premium to platinum. We have only seen this spread invert one other time in the last 25 years, with the gold peaking at around $225/oz over platinum in 2012.

     

    Given platinum’s relative rarity to gold, I would expect these prices to eventually correct to their long-term tendency of platinum trading at a premium to gold. As such, I would recommend taking a long position in platinum futures and a short position in gold, with the anticipation that platinum futures will eventually outperform the gold. As always, remember trading futures is a risky endeavor, and this strategy is not suitable for all investors. Additionally, when placing spread trades, one must be aware of the variances between the contract specifications of different contracts and place the trades in the proper ratio to achieve the desired goals. Finally, remember that the famous saying that the “markets can remain irrational longer than you can remain solvent,” and use the leverage that futures provide with great care.

  16. Posted

    Let’s let a simple yes or no suffice for you. So, just for you and you only sunny - here goes. No.

     

    For everyone else - please be advised I have also not posted a single bullish link either. There is a set of lenses sunny refuses to even look for, let alone look through...

     

    Also, note that he turned right around and said the ‘bull or bear discussion’ IS the distraction. Did he understand what he was saying? Did he really mean it?

    Did I say that. No. Did you misunderstand what I said. Obviously yes.

     

    So you not only are confused in what you posted but what you understand to be what others post.

     

    I said after you answer you can continue posting distractions to what the topic (title gives it away) is all about.

     

    I think early on you mistook this site to be Investors Laboratory or Conspiracies-R-Us Laboratory or who knows what (?) Laboratory other than what it is "Traders" Laboratory. Where umm traders talk trading. Is X going higher or lower or not much at all. Is volume behind the move. Etc etc.

     

    BTW when Gold eventually turns bullish again, as all markets do at some point, I will be looking for bullish stories, bullish consensus and also confirming price action. But until then it is all much ado about nothing. Especially biased opinion pieces wah wah mommy the fix is in. Wah wah look at physical. Wah wah JP Morgan the crooks. I need my binkie.

     

    Hey its the weekend again. Have a good one. :ciao:

  17. Posted

    Sunny,

     

    Check to make sure you’re not confusing ‘price insensitivity’ with ‘bullishness’... Weighty distinction! ... NOT a rhetorical distinction .......

    It's plain to see I am not the confused one.

     

    Have you ever posted a single bearish story link? Simple yes or no will suffice. Then continue on posting distractions to distract from the ... bull or bear discussion.

  21. Posted

    Sunny,

    Hey - it got you posting ... 

    ...

    Ya’ll have a great weekend. :)

    Why so many words to say so little?

     

    I'll stick to trading Gold and Silver - using one or the other (naturally they alternate) as an indicator. And keeping my posts as I like to read others - brief.

     

    And yes have a great weekend as well and Bob too. ;)

  22. Posted

    Absolutely Silver leads Gold nowadays.

     

    I thought I've mentioned that for a while now? Maybe not.

     

    Silver's industrial use is tied to what the global economy is doing. And it ain't been doing as much as it was. An understatement if ever there was.

     

    Commodities, including Silver, seeing less demand means obviously lower prices. And lower prices mean lower inflation. Put them together and that also means lower demand for ... Gold.

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