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MightyMouse

Market Wizard
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Everything posted by MightyMouse

  1. MightyMouse
    When I get filled at 1610.75 my stop loss is 02.50. I could bail earlier if the conditions do not continue to be favorable. If the market never makes it to 10.75, then you are right I won't get long there. If it continues below Friday's low, I will adjust my entry down to get long with a buystop.
  2. MightyMouse
    There is no need to replace gold. Why do you want to replace gold? Is it not going up and you want something else that should be going up to match your inflation expectations? Are your inflation expectations correct? Why do you want to hedge against inflation? If you are wrong, your hedge will go down in value, stagnating and offsetting your growth in assets. Why not just buy assets? Your government (if you are a US citizen or resident) has virtually guaranteed that it will stop at nothing to increase the value of your assets. You can act like a peasant and be pissed at them every day, or take advantage of the opportunities they create for Americans. Don't miss the obvious and plentiful opportunities to make money that are right under your nose.
  3. MightyMouse
    I'll take a long with 2 at 1610.75 on a buy stop.Out of both by 1602.50 add one at 1635, 1640.5, 1644.5, 1647.75... will continue to add if certain conditions hold. I will do this as soon as it hits 1610.75 if it does not go lower than 1594.5 first. 1620-1640 area will probably be a problem
  4. MightyMouse
    Thanks for adding confusion to an otherwise deterministic day.
  5. MightyMouse
    If you don't pay tax on the gains while you are earning your 50%, then you'll be in jail before you get to your million.
  6. MightyMouse
    Is someone making paper sell so that the banks can benefit from lower prices? I suspect just the opposite. the media is trying to pitch that gold is at bargain prices so the "sheepies" buy. We may have further QE's in the future; in fact, this QE is not over yet. However, the fact is that trillions of dollars have poured into our economy over the last almost 5 years and all this money is going to have an impact. I will guess that we see quarterly gdp growth increasing to high single digit rates in the near future maybe even a double digit print. The Fed will begin to include tightening language in its policy statements to keep inflation from getting out of hand. If my scenario plays out, then QE's will be pushed way out into the future; perhaps it will happen in another 6-12 years. Gold prices would then rise again, but who know what level they will begin rising from.
  7. MightyMouse
    There is no mystery or conspiracy. There is more supply than demand. Supply could be short sellers or longs who are liquidating or are too scared to stay long. Bottom fishers who bail quickly are also in the supply group. The market always makes sense.
  8. MightyMouse
    Can't make money in a mega-cycle if the next time it is up in price is after you are dead.
  9. MightyMouse
    Gold Looks bullish when you flip the chart. it would help if the chart is transparent
  10. MightyMouse
    Maybe you are struggling with fear and feel that the antidote to fear is bravery?
  11. MightyMouse
    I would guess a gap fill. I won't bet it but I will guess it. Even if it fill the gap, is the bull over?
  12. MightyMouse
    If you got long the S&P and were late to the party, then you took a loss or broke even. It was getting sort of crowded. If you were long from early in the year, you are fine. I don't make predictions, but i do think it is going to continue higher. We have a very rare scenario when you consider earnings, interest rates, and inflation. It is hard to make sense of a scenario where i rates are increasing, inflation is falling or stagnant, and earnings are stagnant or increasing. I suggest that it makes the most sense to buy dips and continue long in the S&P until the Bull Market ends. No sense in trying to call a top. I do not ascribe to any chart patterns, moon phases, etc. If you looked to the far left of the chart, you'd find plenty expanding triangles that failed. I can't trade expecting a triangle to form.
  13. MightyMouse
    It is hard to pay for or listen to a prediction of a "plunge" in the S&P when the same person is calling for a rise in Gold when Gold has been falling steadily for the last 2 years and continues to fall. The S&P did not "Plunge". it is down about 7% or so from an all time high. The Bull market in the S&P is very much intact and will likely go on to make higher highs before the end of 2013. On the other hand, gold is in a really nice move down and decent profits can be made if you stay on the right side of it. The right side is short. A failing of the majority is to constantly try to call a top or a bottom. A gross misinterpretation of buy low and sell high.
  14. MightyMouse
    The want to take the gold and melt it into guns to shoot unarmed civilians. I think I am learning the way you think.
  15. MightyMouse
    Everything seems to have tracked the increase in assets on the fed balance sheet. It is faulty reasoning to conclude that A went up because B went up and to then conclude that as long as A goes up, B will continue to go up. Gold prices have been falling for 2 years. Assets on the fed balance have increased over the last 2 years and continue to increase. So, then, we can also make the faulty conclusion that sometimes increases in fed balance sheet assets increase the price of gold and sometimes it decreases the price of gold.
  16. MightyMouse
    SIlver and SLV can go nowhere and USLV will lose money. Read the prospectus
  17. MightyMouse
    It is a traders ability to take money from other traders. If a trader doesn't know how to do this, he may as well go to a casino with his money.
  18. MightyMouse
    That is ridicules, it can never go that low.
  19. MightyMouse
    You can employ your strategy successfully with a lot of different instruments if you are patient, but not all. Also, as long as I can remember, I have never had a trade filled in a stock or etf 90 cents below where my order was. Unless...
  20. MightyMouse
    At one point in my life if I saw a train about to derail, I would watch it. At this point in my life I would look away.
  21. MightyMouse
    A trader should only trade when he has an edge. If he doesn't have an edge, he should call it a day before he starts. A trader won't have the same edge under all market conditions. Under some market conditions he may not have any edge whatsoever and he shouldn't trade. A trader should trade only when market conditions are such that he has an edge and he should continue trading as long as those market conditions persist. It makes no difference if he is winning or losing. He should not stop trading if market conditions are such that he has an edge. Losses are a part of the game.
  22. MightyMouse
    "Support" will be treated like a whore.
  23. MightyMouse
    Watch it for a while to be able to draw conclusions of its usefulness. I could be that the net was a result of bottom fishing, stealth hedging of options or futures, or short covering. In order to use it you have to know what to expect next if it is either a, b, or c.
  24. MightyMouse
    Wow! The chance of what you suggest happening is very close to zero.
  25. MightyMouse
    You might want to rephrase this since your statement can be changed only slightly and provide as much information about price action as the the original version. The price of a security is likely to either rebound when it hits a bunny rabbit or pass the bunny rabbit and if it breaks the support or resistance it is likely to keep on going. This is valuable knowledge for a trader and with a basic technique large profits can be made by playing the market with this information
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