Hey Cubed

Where ya been???????????????

OMG I fell off my chair when I read this from AX!

I am not disapointed at all with Yamana they just finished making all time highs in New York, IF anything I am disapointed in the GOLD PRICE , GOld should have hit 1,000 dollars last Quarter..Expecting a gold stock to keep rising with Zero corrections is UnrealisticI am super pleased with Yamana

The biggest thing me & him have butted heads about the past 2 years is the fact that I say book profits and he draws arrows when stocks are at their all-time highs and says "you won't be able to get back in once it takes off"

Sorry, I just had to!!!!!!!

I can smell it!!!!!!

We're getting VERY close to our move up. Today gave us a great opportunity to add to our miners and i'm a LOT heavier in them than in my SKF play. I absolutely LOVE DGP right here as we're talking about a 28% move to get us back to the POG high from 2 weeks ago!!

SLW

Added @ $15.49

Cyclist

Is looking for the low to be put in by the end of this week or next Tuesday at the latest, then our MAJOR run-up!!!!!!!!!!

Added DGP $22.69!!

Yamana

Same with me in every dollar range through $18's!!! I'm pretty low in cash as well, was hoping to at least be able to get some SKF scalps going but it's not moving much!!!!

JAG

Added @ $10.46

Same here bud :(

We're NOT going back to the $905 low!!! Miners should see a VERY nice pop by the end of the week!! (I hope??? lol)

AUY & JAG

Yamana's 1st quarter is gonna be released around May 15th. They always take forever for the year-end!!

Jaguar had poor earnings last week but a big chunk was for stock based compensation and gold hedges which they no longer have. (Not sure why any of them would hedge??)

I can't fathom how these companies numbers are getting worse with their sales price so much higher?? I know costs are higher but NO WAY should they be rising faster than the POG!! They're eventually gonna turn the corner (I hope)

AZK & AUY

Added @ $4.71 & $14.49

Very big afternoon for us, gotta hold and bounce into tonite!!

SKF

Bought @ $115.67

JAG

Added @ $11.18

Ron - SKF

I'm looking for around $116 to start adding!!

MDP

I don't really see anything positive but am pretty sure we stay in this range for a week or two (until the banks report). Maybe as low as 12,100?? As high as 12,700!! If we can get Gold to stay over $950 then the miners should make up a LOT of ground!!

I'd wait for pullbacks to add SKF, QID & DXD

Morning guys

Let's get this party started right!!!

Hey Ron

I wouldn't rely on that "3 day trading method" FWIW

You can't trade effectively having "rules" which is what thats doing. You have to have the freedom/ability to trade on the fly using the "relationship" you get with the stocks you follow. If you're not able to watch your streamer the majority of the day, then you need to come up with set ranges and place your limit orders.

Feel free to ask if you want any help with entry/exit points as everyone on here is very good at it IMO

Thanks Goldfinger

Already have that week playing out in my head :)

I think we get back to the $104-$107 area this week but no lower!! I still think Gold put in it's bottom and we're gonna have a VERY nice week!!!!!

Swattsup!!!!!!!!!!!!!!!!!!!

Glad to hear that, hope you check in with insights from time to time. The more input we get the better we'll do.

What to expect

Sorry i'm not big into writing guys but wanna make sure everyone knows what i'm thinking about the next month or two.

IMO, the public is being misled, AGAIN, into thinking that the worst has passed us. You gotta be kidding me????? One of our 5 largest investment banks just collapsed 12 days ago after we were told everything was fine just 3 days prior, and everything is fine now??

The two main beliefs that are the foundation of our success are:

1. Gold is going higher
2. The financials are in deep trouble

If we stick with this then we shall DOMINATE the next few months. While it may take a couple weeks in this trading range, we WILL break out to the downside in April.

As for GOLD, IMO, we WILL gbet back to $1000 by the end of next week. Our miners should QUICKLY get back to their pre-pullback levels.

The mix of shorts and miners is a match made in heaven and as long as we remember to book often & add on dips, we will be 100 times more prosperous than the buy and hold people.

Hope everyone has a great weekend!!!!

Hey John

I think we're back over $16 early next week with Yamana!! If you notice that's the main miner i've been loading up in cause I think the low has been put in for GOLD. Shouldn't take more than 3 weeks to get us back over $18 which is a 20% run!!

SKF

Booked rest of SKF $119.1X (bought $116.XX)

Awesome week guys :)

AZK

Booked $4.65 purchase @ $4.90

SKF

Booked $113.46 purchase @ $119.07

GORO

Started position @ $4.75 Might pull back a bit more after such a run-up but I think $5's are coming VERY soon!!

UYG

Started position @ $29.53

As for SKF:

Getting to the top of the expected range so I may book 2 of my 3 lots. I think MDP asked earlier so I wanted to let you know!!

SKF

Added @ $116.39 (got a feeling we may go down big last 2 hours?)

SLW

Added @ $16.06

GORO

Just hit $5 , was $3.27 a month ago (en fuego) This stock should blow past EGO on it's way to $10 by the end of the year (JMO)

Ron, I think Peter trades DROOY

Great Basin

Never traded it before but just looked at the chart and it has some nice swings daily!! Added it to my watch list, I like to watch for a month or so to pick up how it moves/ranges!!

Good job!!!

Seems like SKF has been really good to you!!!

Market Ticker

Opened for me Ron?????? You have to scroll down to get to the start of the article!!

EGO

Booked $6.63 purchase @ $6.93!!

Thanks for the heads up Ron, good article!!

FXP

Let's see if I can go 2-2 :) Bought @ $92.06 looks ready to run up??

12,200 - 12,700

As long as we use this as a guide I think we'll do great the next week or two.

SKF

I'm gonna keep grabbing 4 or 5% like yesterday if possible. I have no problem keeping what I end the day with.

King Of Gold

That guy is VERY good with his wave counting!! He's been dead on this week!! We gotta hold here without another big dip!!

New Link

I added a new link for us that 4dabopper posted at GIM. It is a comparison chart for Gold companies and you can sort by number of ounces in reserve, country, Market Cap.....

Ron

They got a "mini tender offer" yesterday for 3 million shares @ $15.75 from TRCV capital. Looks like they picked up some for cheaper today!!!!

We're looking really good here boys (of course that could change overnight)

Yamana

120,000 shares just went across @ $15.37!!!!

FXP

Sold it @ $99.54 for around 4% Gonna keep an eye on it, love the swings :)

SKF

Booked $110.56 buy @ $114.44

Yamana

Gonna have it's highest volume day today!! If we can keep gold rising we're gonna get a BIG run IMO

SWEET!!!!!!!!!!!!!

Maybe I was too pessimistic thinking Gold would pullback to $935???

Added AZK $4.85, EGO $6.63 & AUY $15.49

SKF

Added @ $110.56

FXP

Sorry, it's an UltraShort FTSE XinHua China 25

Probably a bad buy but trying to spice up this boring action!!!

Why not!!

Took a shot with FXP @ $95.45

FXP

Anyone trade this ETF? Moves 10% from high to low almost every day and is streaky. Wondering if it reacts US markets or is it's own animal??

Ticker

He posts them in the morning but puts the previous day on top cause thats the day he's talking about. Thats definitely gonna be high on his list for today!

Does it make us bad people cause we're rooting for the system to fail??

Market Ticker

Really good reading today!! That guy gets me all pumped up!!

JAG

Started a position @ $11.90

We're at the low end of it's range FWIW

SKF

Booked $109.17 buy @ $114.49

Gonna start adding UYG around $30 and stick with the plan this time. Makes me sick that I bailed last Monday @$26!!

Cyclist

He still expecting the big move up starting in 2 weeks? If so then he's expecting the pullback to $850 very soon? Hope not, I really think we put in the low FWIW

AZK

I love that stock :) Looks like $5.50 is easy when gold gets back towards $1000!!

Yamana

Taking a beating here, if we can hold the $15 mark we should be in for a nice snapback!!

SKF

I have 3 lots left that i'm looking to book at 5% gains each and will add on dips. Short-term I think $116-$118 will be the top of this range with the Dow around 12,200 I think we're gonna be rangebound for a few weeks between 12,200 and 12,700 then when we break below we should approach the $150 in SKF hit last Monday!!

Yamana

Added @ $15.31

Sorry just got back from breakfast

They raised the margin requirements on wheat and corn by 50 and 30% effective this morning.

One firm is gonna get a $125 million margin call due to this. It's gonna pull a lot of speculation out of them and will affect all commodities. Basically the same thing that drove them down last week where the Hedge funds had to deleverage!!

Gold holding up nicely though :)

Bastards!!!!

They're driving down commodities with the increased margin requirements!! Now that is manipulation!!

Looking Good!!

If this goes as planned we could be breaking $1000 by the 1st of April!!!!!!!

Yamana

Added @ $16.11!!!!

Hawk's the man!!

It sucks Ron cause me, him & Greg (GCubed) were like brothers on the thread and chatting on the phone every day. They broke us apart :(

FYI

Just want to make sure you guys know that AX is my age!! He portrays himself as a "GURU" but basically adjusts his charts and thinking every day to make it look like he's right!! While I think he's VERY valuable in keeping people positive, thats about it. JMO

As for POG, when we recovered quickly on the second trap under $920, I didn't think we'd be revisiting. There's just too many people expecting us to top into May and the dollar was ready to flip.

Gold

Anyone think we're gonna retest the low?? I think we go back to the mid $930's then continue upward. $1000 end of next week!!

Oil

Is on a TEAR!! Did you make a play on it Peter?? I wish I had a better feeling when you asked!!

I still say we're shorting once we get over $110?!? That DCR made it all the way to $11.80 last pull-back!!

Bear

GREAT!! Anything to reflect poorly on the sector ; )

Anybody else check out Yamana's results?? They are loaded!! I always thought Yamana would be THE stock the 2nd half of this year. I'm thinking it gets back to $20 before POG gets to $1000??

: )

This should start getting VERY nice for us. I really don't see any FED intervention before the next meeting and all the data should be on our side!!

SKF

Booked $99.78 purchase @ $107.26

LOL (Goldfinger)

One guy this AM actually said we should blast off from here in equities????????

We should work our way back towards 12,200 the next few days JMO

QID

Added @ $47.90

Market Ticker

I really enjoy his views, thanks again for the link!!

Looking good boyz!!!!

Gold up nice and futures down :) (fingers crossed)

FVCK (spoke too soon, 3 run homer A's)

Thanks for the info Goldfinger

I can't believe how everything gets spun leaving the average investor in a bad situation!!!

DGP

Booked $23 purchase @ $23.73

Looking for the $100 gift

Gotta figure $100 is a MUST to load up in SKF??? Their trying to spin the Financials in a positive direction but I really can't see it??

POG

I'm pretty confident that we put in a bottom and are going to get a nice move the next few weeks?? JMO

Hey Ron

Thanks for the pep talk about drinking lol

Consumer Confidence was horrendous!! We should give back a nice chunk of yesterdays gains IMO

Gold having a nice day with the Dollar decline!!

Yamana

Booked $15.87 purchase @ $16.45

POG

I'd love to see it hold $930 during the morning dump!!

I'm never drinking again

I spent the whole day running in and out of the bathroom. My ribs are killing me from dry-heaving all day :( Sorry but I seriously couldn't muster up the effort to post. Aside from the shorts in the morning I didn't do anything.

QID & DXD

Started positions @ $49.30 & $54.27

We're getting close to the top of this rally IMO

POT

Nice trade, I played with that a bit when it was under $100, not sure why I stopped?? Seems like if you buy dips it's been trending higher for a couple years now!!

WOW

I feel like I got hit by a truck lol, I NEVER go out on Sunday nights!!!

Looks like we're all on board for the SKF ride!! $99.78 add, I can't see us going back to the low 90's??

Easter

Happy Easter guys, can't wait for Gold to start trading tonite. Hopefully we get the pullback in the Financials thats overdue!!!!

WTF

Just checked in at halftime & saw that AZK hit $5.18???? Shoulda been paying attention :(

On a better note just won Pittsburgh giving 4 1/2 in the 1st half $$$$$$$$$ :)

Peter (oil)

Looks like it bounced back after dipping under $100, I really don't like it here but if I had to i'd be long.

I'm out for the 2nd batch of games. Good luck guys and have a great weekend and Easter if we don't chat sooner!!

Joe

Sorry Guys

Cleaned house in the early games (+$855) Kansas giving 23 and they won by 24 :)

Beautiful timing, added SKF $109.17 let's hope we get this ride back to $140 for a third time :)

Hey Ron

Got your brackets filled out for the tournament?? :)

SKF

Added @ $113.46

Gold trying to make a move!!

EGO

Booked @ $6.69 this AM's $6.32 purchase :)

SKF

Getting back on the bike after falling off :)

@ $116.36

EGO

Added @ $6.32

Miners getting hit HARD!!

Goldfinger

No more days off for you, look what you did to our precious :)

MDP

I'm thinking we get back to yesterday's close (bit over $940) but could very well continue downward. Tough to pick a bottom, if we go down i'll just add a bit more DGP!!

LOL

I love his confidence, he's been dead on quite a bit the past couple years i've been following him.

Cyclist

I didn't realize he was back. I gotta go check his thread out. Thanks bud

Good morning!!

Yamana

Added @ $15.87

Sitting on lots in the $15's, 16's, 17's & 18's Hoping we found a bottom

DGP

Added @ $23 Let's get it moving up!!

DCR

WOW we were in @ $8.45 last week and it's @ $11.60!!!!!!

Good thing tomorrow is a Holiday

I think a three day weekend is just what's needed right about now. 48 NCAA tourney games in the next 4 days :)

If the cartel does their morning dump then we're looking at going under $900.

Asia markets

getting hammered tonite!!! I'd guess that the futures start off down then we get a rally into the long weekend.

WOW

I can't believe we dipped under $920!!!

I'll talk to you guys in the AM.

I love the site (Coinlieutenant)

although it's a bit scary!!!! If he's right then we're gonna do FANTASTIC with our trading. I've got a bit more faith in that I don't think we're headed for a depression but think we're in for a big correction and it's only being delayed.

Oil play

The DCR/UCR ETF's are out there Ron. We did pretty well with DCR when oil was over $111 and pulled back. Not positive on a direction from here but if I had to i'd go bullish.

CoinLieutenant

Awesome site, thanks for the link. Do you want it called something different???

BTW I signed the petition :)

MDP

For some reason I don't see this rally ending so quickly. It seems like we've been rotating days up and down lately so i'd think we see some sort of rally tomorrow.

Forgot

Added long Yamana position @ $16.81

Yamana short

Covered @ $16.80

Peter, gonna do my brackets in a bit. I usually do two and i'm thinking Memphis winning it in one and Kansas in the other. How bout you?

Thanks for reminding me Peter lol

Basically in the past 3 days I got faked into taking losses on my UYG and buying SKF then faked into selling the SKF for a loss. Totally broke all my rules.

I think we're gonna head back toward $140 but for mental purposes am staying away for a couple days.

DGP

Added @ $24.11

You married guys

are silly...no offense :) If I had ever gotten married i'd be a widower by now!!

Ron, i'm looking at adding some DGP before the end of the day.

Peter

Was getting worried about ya!!

Exams all done yet??

AZK

Added @ $4.65

Sounds good to me guys

Feel free to bring up or ask anything. I may not be on here too much tomorrow with the tourney starting.

These next two days are my favorite days of the year!!!

Thanks MDP

I'm usually VERY good at putting things behind me. I definitely think we're going lower in the main markets. What do they think is so great?? Bear Stearns failed so thats a good thing?? huh

As for Gold, this seems like a perfect trap to shake people out and then give us the real push past $1000.

The miners have held up pretty well considering that Gold is down 6% and the markets are down.

Rule #1

I'm totally off this week, maybe it's cause the tourney starts tomorrow???

I've totally been thinking about mistakes lately and letting my emotions get the best of me.

Yamana

Shorted @ $17.07

So

Selling is like shorting and different from buying in that you have to own the stock to put up against it??

SA

I was over the 4 lots I like to hold and didn't want to be that heavy in this mess.

Believe me i'm still sitting on a BOATLOAD

Covered Call

So it would tie up the money until options expiration in April? I always thought you could sell the option before then? Thanks for the help!

EGO

Started position @ $6.88

MDP

I've never signed up for options. I keep telling myself to get involved. Goldfinger does well with it. I'm gonna send in the application and hit you guys up with some help.

This is a mess. I was upset that I had booked profits in almost all my miners the weeks leading up to the cut when we got past $1000. Thanks God I did cause I think they're gonna pull back hard.

SA

Sold off a third of position $23.41 average. Hasn't pulled back yet so figured i'd do it now.

Was bought between $25 -$28

Current holdings average $24.53

SLW

Added @ $16.83

Would like to see $970 POG before I start adding back all the miners positions I sold off over the past month.

DZZ

Booked @ $25.15 purchase from $23.12

WHOA

VERY dangerous levels here!!!!!! May of 2006 early this year??????

SKF

Took the hit on all holdings just under $112 OUCH!!! Looks like we're heading back to the lower end of the $104-$115 range from earlier this month.

Rough week so far!!! :(

Covered

Yamana short @ $16.89

Yamana

$17.97 plus the lot bought after the cut $18.4X ave

I have 3 total accounts, basically i'll be adding to the long account while trying to make quick hits in the short account, then i'll start booking the longs during the next run-up (If there is one??)

DOW Fizzle Zone

I would LOVE to get there so we can ride the shorts back down again.

POG

Under HEAVY attack Shorted Yamana $17.68

Follow through

Markets are flying overseas. Gold trying to get it's legs back under it.

Thanks guys

One month anniversary of when we started trading with the blog up and running. Thanks to all your insights, I think we've started off on the right foot.

Tomorrow we get back to the buy em and book em routine and get rolling again. I sincerely appreciate EVERY SINGLE one of you guys helping me out with your advice and much appreciated company during the "workday".

Have a great night

Joe

I'm starting to believe it

Seems like every expected move is met by the opposite, hmmm

We just gotta start thinking like them instead of the masses.

Luckily this meeting is over so I can get back to my day-trading/quick booking method.

We need a nice rise in Gold overnight.

PPT

We outta start our own POG PPT ;)

SKF

In January I rode it from $87 - over $140 and the whole way told myself to jump on UYG when it reversed. Then we got the emergency cut and in 2 days it was down to $105. (and I never jumped into UYG)

This is feeling very similar and if it wasn't for yesterday's Bear mess I would have been fine.

We might be headed back to the sub $110 level, but inevitably we'll be back over $150 IMO

AZK

Added @ $4.94

WTF with the POG?? I knew they had a full point priced in but???

Yamana

Added $17.97

Danger Zone

For POG here. We don't want the panic selling to take place

MDP - SKF

I was just playing it safe booking a bit there. I'm still holding 2 lots averaging $138.XX from yesterday so figured it was safer to book some and if it rises it'll reduce my paper losses there.

SKF

Sold @ $127.41 purchase from earlier today @ $121.44

SKF

$125.39 Guess i'm playing both sides (couldn't get either .50 or 1.00) WTF!!

Fingers crossed

DGP $26.25 Yamana $18.44-$18.47

Let's hope POG bounces

SKF

1/2 point no matter the language. 3/4 and i'll let the market digest.

OK

Good luck everyone :)

MFN

Why don't you wait till 2:14 to tell us about it lol j/k bud

Financials

Looks like we all LOVE the volatility that the financials have been throwing at us lately. Works out great when we're on the right side (which we have been the majority of the time)

Group project

Where's everyone putting their cash if we get a full point????

I'm looking at DGP & AUY (AZK looking nice too)

Good luck Goldfinger

I'm actually rooting for a 1/2 point and a monster sell-off. Seems like a safer outcome.

+ 300????

This thing is setting up for a sell-off IMO. Could we get the full point, get a head fake sell-off & rally tomorrow???????

AUY

NO

Basically i'm looking at AUY & DGP as my main purchases if we get a full point. If not i'm looking at SKF!!

Only reason I added the DGP just now is I think $1000 is gonna hold. If we get a full point we SHOULD make a nice move, if we get less then we may be rangebound for a bit.

DGP

Added @ $27.11

Hey Ron

just saw your question about the XLF, basically it tracks the financials like UYG does (long) but not 200%.

Yamana

Is looking like the best play as of now if we get the full point. It's pulled back 7 1/2 % from yesterday's $20

The best thongs

Are at Misquammicut. Been going there since I was a kid. There and Scarborough which is my fave RI beach.

MDP

I would think that as high as far as we've come, people will be covering their butts. It just seems that every expected move has gone the other way lately??

Took a nibble

$121.44

Goldfinger

It's a gamble that would reward you VERY VERY nicely!!!

Not yet

I'm remembering back when it flew over $140 in January then they did the emergency cuts and it pulled to under $110 in I think 2 days.

Yamana & SLW

Definitely nice pick ups

MDP

Thats what we've been using UYG for, it's basically shorting SKF.

Welcome aboard and we welcome your insights :)

As of now i'm looking at DGP and my miners @ 2:15. The financials could be tricky. They're already up so much that even with a full point I feel the powers that be letting us have it if we get aboard. Thats why i'm leaning towards buying SKF after the intial reaction.

Peter

Exactly, thats why I didn't pull the trigger.

SKF

I was thinking of it when we saw the $125's but told myself I was gonna stay put this morning.

3/4 point

And we should still get a nice run in POG. Dollar would still get hammered IMO

Absolutely right Peter

I'd love to see POG stay around this level before the cut cause it'll definitely get back to yesterday mornings levels with a full point.

New Orleans

Have fun bud :)

Thinking all night

About the way I handled the UYG situation yesterday. My whole philosophy is based on the fact that ALL my positions WILL end up with a profit at some point. I got caught up in all the panic yesterday and abandoned this by taking losses. I'm not saying this because it is higher today, just very pissed that I let emotions control that trade.

That being said, there's always today and there are always lessons learned in this business.

Son of a b1tch

I knew Goldman was gonna beat. "Shoulda" listened to myself.

PPI

Let's see if we can get a hot number to drive down the futures for us before the announcement.

Good night boyz

Futures right around even and POG hovering around $1000.

Will regroup tomorrow AM and figure out the best way for us to attack :)

Peter

Depends on where we stand going into 2:15. I'm thinking of taking heavy positions in SKF AND UYG right before and bailing on one right after depending on what happens. If we get a full point then i'm gonna start taking positions in my miners and I still have a bit of DGP to book if POG rockets.

What a ride

Gotta love volatility!! Big day tomorrow boys, don't be celebrating St Patty's Day too late tonite (leave that to me)

WOW

Guess everything is OK after all ; )

And here I was worried about things lol

SKF

Booked @$145.02 purchase @$131.47

SLW

Added @ $18 even (couldn't resist)

SLW

I was thinking of getting in too. Shoulda held my short a bit longer!!!

Sorry guys

Had to run out for a bit.

I'm basically on hold till tomorrow afternoon. I'll probably book my SKF's this afternoon and call it a day. The reason for be not being into miners is that if we get say only 1/2 point cut, they'll get hammerred tomorrow. I'd rather eliminate any uncertainty and jump on the bandwagon at 2:15. Whichever way we go tomorrow afternoon it'll be a VERY strong move.

Done deal

Sold last lot of UYG @ $26.6 (bought @ $27.33)

Added SKF $137.25

Well it looks like I got snookered lol

WTF is this all about?? Gonna have to add more SKF!!

Morning Peter

Booked SLW short @ $18.98 from $19.38 No miners (except SA & FGOC) until tomorrow.

UYG

Booked @ $25.86 for a loss lot bought @ $29.49.

One more left bought @ $27.33 (will hold this one)

SKF

added $140.58

DGP

Added $27.25 (worked out great selling @ $28.50 this AM)

DCR

Booked $9.40 purchase @ $10 even!!!

UYG

Booked 3 lots for losses ($31.01, $31.49 & $30.56)

Booked between $25.57 - $25.63

Yamana short

Covered @ $19.07 from $20 ;)

FWIW

If we pull back to under say $990, then people will start remembering the drastic pull back from $730 in May 2006 and the miners would get ABSOLUTELY CRUSHED from these levels. Would be a perfect time to short JMO

Miners

Should pull back. Currently in shorts of AUY & my "balls of steel" SLW short from Friday ;)

WOW oil just broke under $106 :)

I'll probably cover those shorts today at some point and wait till 2:15 tomorrow.

Rate cut day

I'm usually out of almost everything and start fresh right after 2:15 depending on whether we get a surprise (which I guess would be .75 now) or whats expected 1 point.

I'll be booking my SKF before end of day today.

Price of oil

Getting nailed ; ) DCR looking sweet!!!!

Yamana

Shorted @ $20

DGP

Booked $25.79 purchase @ $28.50

Not so bad

Down 160 in DOW futures. UYG just traded for $25.66. Basically a .34 cent loss/share Peter if you net the $1/share you booked Friday. I'd be holding the SKF (obviously) and book the UYG looking to get back in at a lower amount before the Fed announces (even though it'll only create a quick pop IMO)

UYG

If losses need to be taken then so be it. Still got an SKF in the $131's to help offset. Please don't think negative at ANY time Peter. There is ALWAYS a place for us to be making money. WE get up tomorrow and the gameplan we come up with will GUARANTEE that we end up the day positive just like every other day.

As for the ETN's the way I understood it was it is adjusted monthly not daily. I wouldn't worry as the market's will gravitate the price to where it belongs. I've been watching it since it came out.

$1,030

Loving my DGP's thanks again Ron for bringing it to my attention when it came out. Gonna make a mint tomorrow!!

Never fear

We'll simply see where to attack in the morning and go after it. As far as UYG, you're in at a nice spot and you KNOW a smoke show will occur this week at some point allowing you to get out.

As for the miners, until I see confirmation that they'll rise on a major down day (like tomorrow will be), i'll be sticking to my 3-5% gains every couple days.

Hold on tight

$1017.40 and climbing AMAZING!!!

Fed cuts discount rate by 1/4 point and JP Morgan buying Bear Stearns for $2/share Talk about telling the markets you're scared!!! This week is gonna be the time we remember for when the dam broke.

4 1/2 more hours

Till the selections come out :) Along with this coming up Thursday & Friday, today is one of the top three days of the year. The heck with X-Mas, Thanksgiving, Easter...... Nothing compares.

Hope you guys are having a great weekend. VERY volatile days lie ahead.

Ron

Just think of it like this: You WILL be able to book each of those for profit at some point early next week.

Must be Ron

Who voted for GIM ;)

Hey Ron

What are your entry points on the UYG & SKF buys? Just want to figure out how you should play it on Monday.

New poll guys

Be honest ;)

UYG

$27.33 back in

Peter

DO NOT worry if it hits $28.50. You made your gain and thats all that matters. Actually if it gets to $28.50 then SKF should probablt look nice. Just don't chase. Be happy about any gains

SLW Short

$19.38 worked out great.

UYG

Just booked that $27.02 purchase @ $27.90

I just see us selling off, not rallying at the end.

FWIW

The SLW short I booked at $18.79 after only like 2 1/2 % gain is an example of why to take ANY gain you can get. It's already back to where I started the short at.

Now, should I short it again?????

Sorry

Didn't answer everything. Definitely holding over the weekend.

UYG

I'm actually sitting on lots at ($29.49, $30.56, $31.01 & $31.49) on top of the $27.02 I just bought.

I accumulated those while SKF was running from $108 - $122.

I like to have both at the same time but ran out of SKF with this quick reversal from 115 - 2 days ago.

UYG/Ron

Basically just looking for financials to stay in their current range. $27 is pretty close to the bottom for UYG and a move to $29 would be perfect to bail and switch back to SKF.

$35 is an IMPOSSIBILITY.

Stay the course

And it'll end up around $29 before you know it.

$27.02

Added UYG

This is an avalanche

SLW short

Covered @ $18.79 short from $19.29

Almost time to short AZK again ;)

$133.34

Booked SKF purchased @ $127.48. Now sitting on only the lot I bought today.

This is the most amount of cash i've had in a LONG time. This thread has been a blessing for me. All but 2 of my bookings have been positive since I started this. The 2 losses were when I bailed on Yamana & SLW shorts for 1/2% & 1% losses.

En Fuego $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Bear Stearns

Most definitely, just like Countrywide, Citigroup, E-Trade, AMBAC, MBIA.......

They all fell off cliffs but had BIG pops on certain days before proceeding to fall further. The problem is that you go into the trade with a lot of fear and it's tough to stay with it if it falls even a few cents. It makes you say "WTF did I do? I'm getting the fvck out" before you get a chance to catch the pop.

Basically if we can find ranges that we're pretty certain about, then why would we risk a potential dangerous trade.

I wasn't picking on ya Ron. Just saying that catching falling knives ain't in my repertoire (sp?)

Damn realtors

and their sense of humors ;)

WOW

Gold making a strong push at ending the week over $1000

AZK short

Covered @ $5.19 short from $5.42

Bernanke

How many hours of sleep do you guys think he gets a night????

I can't see him getting more than 1 or 2 good hours unless heavily medicated. His mind must be running 200 MPH thinking about the mess on his plate.

Come on Ron

You're making me feel like i'm not a good teacher. Remember we try to keep risk at a minimum.

It's a long (but simple) journey to financial independence. A few % at a time!!

SA

I shoulda unloaded some when we went over $26 earlier. Who the heck gave me this dog??? :)

Nice job bro

I was gonna say that under $27 would be a nice UYG entry point.

Isn't this so much fun :)

New poll for you guys

SKF

Added some @ $131.47

Looks like this sell-off is gonna accelerate this afternoon.

Ron DZZ

Would have been perfect for you to add when we were starting to pull back. That being said, it's only 2% off that low and if you're not planning on booking the DGP you could use it as a hedge.

I'm a VERY bullish guy for POG so i'd never play DZZ by itself but would use it to hedge the DGP.

Hey Peter

If she behaves right then maybe i'll give her another chance ;)

SLW

$19.29 short (4 day almost 15% run up to an all-time high)

December's meeting

Not sure if you remember when they were expecting 1/2 point and gave us 1/4 point, but as soon as it was announced, the markets and miners fell and I got in SKF at $87 and shorted my miners.

As for the POG, you're thinking the same way everyone on GIM has been this week saying when they cut POG is gonna blast off. This isn't the case cause in December POG fell big as well. The reason is the markets price in these cuts (even the gold market). It's not like gold will pop on any cut. They have 3/4 fully priced in so if we get 1/2 point, gold WILL take a hit.

I've learned this lesson the hard way in the past.

Remember losing money is worse than missing out on a gain.

AZK

Shorted @ $5.42 I feel like i'm cheating on my girlfriend by doing this :)

Yamana

Booked $18.75 purchase @ $19.48

That is it boys. I am all out of miners except for my Seabridge and FirstGold

I have no interest in chasing any of them, i'm gonna wait until 2:15 (EST Ron) Tuesday to decide.

Oil pulling back nicely :)

EGO

Booked $7.09 purchase @ $7.50

DCR

Booked @ $9.28 yesterday's purchase of $8.45

I still like this play and think we could see $10.50 area if we get some profit taking

Financials

I'd say we're gonna be looking at $125-$140 back & forth between now and Tuesday.

Long haul this is a DISASTER just like we've been preaching for a couple months now.

Ron

My gut is telling me that we're gonna find a lot of new buyers now that we're over $1000 and MAYBE it can turn into support. You know what your looking for in terms of profits so trade accordingly. What i'm gonna do is add some more DZZ to work the flip side in case it pulls back.

Hey Peter

How you making out with the SKF purchase? Now that you're in the money, if you take a stab at UYG you can't lose and should be able to get profits on each.

DGP

Booked $25.76 purchase @ $27.37 Still have 3 very good size lots left

Did we nail this or what!!!!!!

AZK

WTF no news out at all and it's pushing $5.40???? Rule #1 Joe, don't think about it :)

Holy %$@*

I leave for an hour and miss the run past $1000 Congrats to all!!!!!!

Whats the deal with Bear Stearns??????

Morning Lieutenant

Looks like a great plan. We're still probably gonna see a sell-off late today, just not a big down day (maybe a tad positive or a tad negative)

I think we get a nice run in DCR today (Maybe to $9.50?)

I'd be looking for $116-118 SKF & $28 -29 in UYG (probably won't get to the UYG buy level!!

New poll

I changed my original vote since I think they may give us 3/4 point on Tuesday. I think we'll have a pretty positive week all around next week.

I'm heading out for an hour or so guys, i'll be back. Ron you're in charge ;)

Amazing

That POG is dropping here??? The number is unchanged, but it's unchanged from a monster number last month????? It's all in the way they spin it to the public.

I'm still on hold till Tuesday.

WOW

That definitely puts 3/4 point cut into play for Tuesday.

Big Friday

Might take a stab at DXD & QID this AM if we get a hot CPI number. Definitely see a typical Friday afternoon sell-off coming. Could give us a chance to buy some miners late in the day (I know I need some as i'm VERY light).

We should know by 9:00 whether or not we're gonna pass $1000 POG today. I got a feeling we might sneak right by without another pull-back 1st???

Would love to see oil at least get below $109 this afternoon.

Maybe not ; )

Looks like Asia wants to break through 1000 though

Options

I still deciding if I want to give them a try.

Have a great night and tell the Mrs hi :)

See ya in them AM Joe

DCR

Glad you jumped in that with me bro. I think we're gonna get a nice 25%+ gain in the next 2-3 weeks there. I can't see oil hitting $115 on this run. These ETF's have totally changed my style of trading. If you can sit back and look at the big picture and not panic, you can clean up.

Thanks for the kind words :)

I'm pretty dry except for my Seabridge, DGP & DZZ, SKF & UYG

I think I can work the DGP/DZZ just like I do with the SKF/UYG play.

I love that you trade just like me, isn't it fun :) Basically pick a point and start building positions in the UltraLong & UltraShort and if it stays in the range you clean up each way. I also like that you book your miners like I do. The GIM guys drive me nuts when they start crying on every pull-back. I mean book Yamana when it's run 20% in 4 or 5 days WTF do they expect??

Overseas??

Whats the deal over there? Been staying in VERY tight ranges these past nights. Guess they're a bit scared to commit either way.

??????

Everyone catching up on their sleep tonite?

New Poll

OK since we all agree that Peter is a genius, let's see where you guys stand on this question.

Thanks bud

My dad was 100% Italian and mom is none but cooks like one ;)

All I have for miners are:
AUY - $18.75
EGO - $7.09
SA (a sh1tload bought between $23 and $28)
FGOC - A Lot

Everything else is an ETF (longs & shorts)

My DGP is like 4% in the money and it's my 2nd biggest holding.

Oil

I'm thinking we pull back to the $107/108 area tomorrow afternoon. EXTREMELY overbought.

You picked a nice pivot point with that SKF buy Peter. You should have bought both (UYG too) as I guarantee you'll see 10% each way between now and Tuesday. JMO

HOLY SH1T

AZK hit $5.09 today? WOW I started this last run with AZK around $3.60. Has made me a boatload but I wish I was in when we passed the $5 mark.

Hey Peter

Sorry I just got back. My mom got lyme disease somehow. The doctor said it's at an early stage plus she's a fighter like me :)

$1000 will definitely be a battle and the problem with the miners is that even though they seem to separate today, the slightest pull-back in POG with a down market tomorrow will cause them to drop big time.

I started to add some DZZ (UltraLong Gold) to play against my DGP positions. I think this is a PERFECT place to play these two cause we should bang against $1000 a few times. Unload the DGP's while adding DZZ's on the way to $1000. Then when we reverse start unloading the DZZ's while adding DGP's on the way down. Repeat 3 or 4 times then cook at 450 degrees for 45 minutes (where was I going with this again?)

Sounds great in theory, we shall see.

Sorry guys

I had to take my mom to the Doctors. Not gonna be on till later on today as i'm gonna help her run some errands.

Miners looking AWESOME!!!!

Booked my AZK bought @ $4.55 booked @ $4.82

Good luck to all

Joe

Right on cue

Seabridge back through $25

DZZ

Just took my first plunge @ $23.12, just a hedge in case POG pulls back.

Forgot

Booked SKF $125.32 purchase @ $134.34

SKF

If anything here, i'd be thinking of starting to plant some UYG's, we're right about the low again.

Miners

True they look like they want to separate but I think they'll pull back once the enthusiasm of $1000 runs dry and people's margin calls have to be met.

Hey John, how's the trip going?? You had to bring up Seabridge on such a lovely day lol

I'm not unloading any of mine and I too am sitting on a pretty hefty PAPER loss. With 50 million + ounces of Gold in the ground, people will take notice and eventually one of the big boys will come calling looking to buy one of their properties. I simply CAN'T fathom going below $20 (even though we briefly did in January) and KNOW she'll eventually get it into gear.

At least we got out of the $22's and are closing in on $25. If you have another place you think has an upside coming then maybe move half there. EGO is an $8 stock so there's some nice upside there.

DCR

Added @ $8.45

DGP

Booked $25.41 purchase for $27.00

Goldfinger

I had to go with the 80-89 as well because he seems to be VERY bright in the Financial area and remembering my Finance classes they had absolutely nothing to do with anything helpful.

CoinLieutenant

You think we pull back to the $985 area? I told myself I'd book around the $1000 number but I think we might break and not go back under like we did with $700.

New Poll

I posted a poll on the right of the blog just above the links.

Hope everyone votes :)

SKF

Back over $130 ;) This is why I started planting them even though it looked like it might go back to $105. That way whenever it reverses i'm ready.

Sitting on $125.32 & $127.48 batches

Swattsup

Love the dedication LOL

Anyone else think Oil is a nice short play at these levels??? $110.50 WOW I really don't see much more of a ride before a pull-back to at least the $107 area. Nothing really changing supply/demand side IMO and i'm thinking people are gonna want to book these AMAZING profits before the weekend.

Any opinions on this???

It can't be this easy

for gold to bust through $1000, can it???

Knock em dead

Good luck bro

You'll rarely hear me say "I told you so"

BUT I TOLD YOU GUYS ;)

$993.15 as I type this :) My HEAVY DGP position gonna start to give me some $$$$ now!!!

Great job Coinlieutenant (if I remember you put 10% of your portfolio in GLD)

PS I'm setting a curfew from now on lol

WOW

Australia & Asian markets down big-time.

Also, US futures down in Pre-Market.

Here we go

This is why we stay up all crazy hours. Everyone is all snuggled up in their beds ;) Any idea on the Futures? I was gonna check but already started this post lol

Very quiet

Week in terms of economic data so for.

Reminder, I added a couple new links to the blog frontpage. I like watching the Dollar Index.

The biggest reward

To my success, is the fact that I can basically stay up all nights and follow whats going on without worrying about haven't to "work". That being said you'll RARELY see me miss a day or even a couple hours.

You got it

I'll send it to the E-mail we chatted on before, OK?

As for POG, we will most certainly get a bear trap pulling us back to the mid-$970's but it'll be EXTREMELY short lived.

BTW were you able to figure out how i'm working this SKF/UYG range?? I think it's almost a perfect system. I book one and then buy the other right then. If I can keep 4 lots of each and basically rotate after each makes a couple %, it's flawless. Even if it runs in one direction, I'll have holdings in that direction as well.

If you grasp what i'm actually doing (which i'm sure you do), you'll see how awesome it is.

Just follow the rules, don't think about what you "coulda" made, and plant shorts when you're getting toppy. Or plant longs when you're getting oversold.

BTW Peter

Let me know if you want an invite to our tourney pool. I ran one that had just under 100 entries up until I left the IRS. Now a few of my buddies just do it on ESPN.Com.

URI

Was looking at a 4 or 5 seed before conference play started. They choked big-time. PC lost today too, but they return everyone and get Shaurod Curry back.

Do you see how coiled up POG is right now? I've never seen anything like it. Did you ever get any DGP??

Sleep?????

Not sure if i'll get any tonite. I have never seen an asset coil itself up so much just on the edge of making a HUGE move.

USD index

Hit 71.99 a few minutes ago WOW!!!!!!!!!

I will be sooooooo shocked if we're not above $990 in the AM!!!!

I have NEVER seen action like Gold is seeing tonite. The move is gonna be AMAZING!!!!!!

What a battle

Going on at this level. We definitely broke the wedge but I could easily see us back inside by the morning. We've basically been in a three dollar range for over 12 hours now. That tells me we're looking at something very significant tomorrow.

OK it's almost midnight, I gotta head out for the night and celebrate ; )

Allright fellas!!!!!!!

Looks like we broke the wedge to the upside. Not saying it's smooth sailing as it could very easily be a false breakout but this is just what I was expecting.

DGP could see a nice move the next week or two :)

SKF

Booked @ $124.66 purchase from $121.98

Added UYG $29.49

DCR

Yeah i'm gonna ride it for a while. May add a bit if we get to $112 or so in oil.

You should know better than to ask if I took a loss :) lol

So Close

POG is about $2 from breaking to the upside. I'm expecting a false breakout that pulls back into the range at first then a quick reversal back up.

EGO

Booked $6.89 purchase @ $7.11

SKF

Booked @ $118.48 earlier purchase @ $115.61

Added UYG $31.01

Ron the mindreader

Just bought some DCR $9.40.

The 2:15 is basically the time the Fed makes it's announcements on rates. If you're 2 hours behind me then it'd be 12:15.

SLW

Booked $17.51 purchase @ $18.07

UYG

Added $31.49

DCR/UCR

Oil ETF's Thank you very much Swattsup

Fvcker is up 7% today!!!! Why couldn't I find that yesterday!!!!!!

Done

$115.61 SKF added

UYG is on FIRE ;)

SKF FWIW

Closing in on my next buy point $116.

Navy

No defense but love watching them run the option. Remember a QB who's name I think was Grizzard??? He was awesome (probably early 90's?)

College football is my #1 sport but this time of year is like X-Mas every day for me.

As for my Football "teams" Love Michigan (I have all my life) & like Texas Tech cause of their offense. They have a Freshman receiver Michael Crabtree who destroyed all the NCAA freshman receiving records this year. Remember his name, he's gonna be the next Jerry Rice (if thats possible)

The A-10

Was is mess this year. Pre-conference play Dayton, UMass, URI & Dayton all looked like locks. Then Temple, St Joe's, Charlotte & Richmond play good in conference games WTF. UMass should be in but they definitely can't afford to lose their first game. The only other team with a shot at-large (besides Xavier) is Dayton cause they have a great RPI.

If Xavier wins the tourney they could end up with 1 bid especially with Gonzaga, St Mary's, VCU & South Alabama probably all stealing up at-large berths when they lost.

March Madness

Any of you guys college hoops fans?? Next Thursday & Friday are seriously my favorite two days of the year when they play 16 games each day from noon to like 2 AM.

I seriously have NEVER worked on either of those days in my lifetime (even while at the IRS in the middle of tax season)

The 3rd best day of the year is Sunday when the brackets come out.

My URI fell apart and need to win the Atlantic-10 to get in. My PC Friars (I went to URI but my dad got me into PC (Providence) when I was a kid), have been a mess this year :(

The major conferences' tourneys start today!!!!!!

I'm soooooo fvcking pumped just thinking about it!!!!!!!!!!!

Nothing to do with POG at all

I'm just booking the miners cause I basically look for 3% on every purchase. Plus I want to be extremely light over the weekend and into Tuesday then i'll load up at 2:17 (a couple minutes after the announcement). Plus even WHEN we break out the markets will still lead the miners and profit taking from yesterday's rally WILL take place at some point today IMO

I LOADED up on DGP for this move which I said on Sunday would take place by Tuesday. I'll take being one day off. The formation it's created is a thing of beauty.

Mid-Terms

Remember Peter, don't let the studying get in the way of your trading ;)

Goldfinger

Do I still have to send in the signed document for options trading if I promise them it'll only be profits booked? :) J/K

Thanks for the Economic Calendar link.

To everyone else I added it to the links on the right

??????? Peter

My mindset has changed???? I've been posting one more lower high and higher low and we break. We're in the process of malking the lower high and the higher low should bring us to around $973.

POG

If we pull back from this $980 to around $973 then the upmove after that will be the breakout IMO

Would have rather gotten to $982 or so, but the ranges are DEFINITELY getting smaller and we're about to break out. Let's hope we get this right

Good luck

Thanks Goldfinger

Just tried to add options to my account with E-Trade and I guess I have to print out and mail in a signed document. Too much effort right now LMAO

I'll try to get it done this weekend and do some research. Thanks for the tips and i'm sure i'll have questions once I get it set up.

Yamana

Booked $18.15 purchase @ $18.51

For miners I have left:
AUY $18.75
AZK $4.55
SLW $17.51
EGO $6.89 & $7.09

Plus the Seabridge (in the red a hefty amount) & FGOC

You'll be fine IMO

You got in when POG was right around $970 if I remember right so you're looking at a nice 3.5% gain WHEN we get to $1000!!

You're the boss

If you're uncomfortable with a position then get out. Otherwise you'll start with the "I knew I shoulda" stuff and then your emotions might make you do something dumb. JMO

As for oil, I posted yesterday that I would love to be able to short the price of oil :(

AZK

Booked $4.36 purchase @ $4.58

Getting EXTREMELY light on positions!!

Pulling the trigger (GLD)

Are you thinking book and get back in if we pull back to the $970 area? Or thinking we're gonna get a big decline??

Useful links

Don't forget, if anyone has any sites they use frequently and think the rest of us could benefit from it, just put the link in a comment and i'll add it to the 5 I started us out with on the right side of the blog.

Thanks Guys

Goldfinger

Any good reading/self-help material you'd suggest before I decide to try options?? I have the basic premise as to how they work but would like to have an understanding of how they react in certain situations.

DGP

We've been looking at .25 cents bids & $399.90 asks pre-market until today. Hopefully people are starting to discover it along with DZZ (the POG UltraShort)

Next move in POG should be to the $982/983 area. Question is do we break or have one more pullback (to the low $970's) first.

If we do break then expect a pullback trap at around $993/994 in the amount of $8-9. JMO

SLW

Booked @ $17.75, purchase from Monday ($17.15) almost 4%!!

4 hours sleep

Must be enough, right??? lol

Loving POG action, we got another higher low @ $968 and we could be looking @ a $981 lower high then another pullback to $973 before the break-out, or simply break out when we breach $981/$982 area. Last time we were in this formation, we broke $800 & $900 nicely.

I'll keep everyone posted on the moves for the day.

The USA

I'm from Rhode Island and i'd probably kill myself if I was told that I had to live in another country. That being said, i'd still never bring a child into this WORLD.

Hope everyone is resting tonite to make up for my late night out ;)

I say that by the time I wake, POG is over $980 and on the cusp of breaking out.

Night guys & thanks for the company during the day. It means VERY MUCH to me :)

USA right??

I'm here too. It's a main reason I have no interest in having kids (aside from I hate responsibility), I would be a nervous wreck just sending them to school in the morning.

Awesome idea coinlieutenant

That shorting treasuries could be very interesting. Actually playing both ways. Thanks for bringing that up on GIM :)

Mid-Terms

Good luck bud, how ya making out so far??

UYG

I think that would put it in the $34/$35 area. (about 12% from here)

The DOW

I've never seen a day over 400 points on the upside since i've started.

Nobody can pick tops and bottoms

IMO, so I stay ready for a reversal at any moment and am all about booking steady profits.

I've booked all my trades in real-time for the past month on here and think I had a 1% and a 1/2 % loss and only have a few positions in the red. If i miss out on something I just think of all the times I stayed in too long and ended up not only losing the 4 or 5 % I was up but start getting emotionally involved and actually end up losing.

Don't get me wrong, you have to watch all day and have a good amount of capital to do this to the extent I do.

If I were to just pick right now, i'd buy the UYG now and expect to reverse around $105 like you said.

SKF

Basically i'm still long-term bearish and think this is a band-aid and we still haven't hit my target of $150 SKF. I added them in smaller batches and plan on doing so again around $116, $108 then lower if we get there.

On the way up I started adding UYG if you remember and even though they got deepen into the red, I knew eventually it's work out when they cut rates. Thats also why I didn't want any overnight SKF this week. I 100% plan to be able to book ALL the SKF's I buy for profit but will have to sit through them being in the red for a bit. I'll be using UYG as the new buy and book instead of SKF and then when we reverse (and we will) i'll start booking the SKF's I planted.

Basically as long as we stay in this range i'm all set. Now if the Financials take off never to come back to this level then i'll have to book some losses, but i've made enough in this range that it wouldn't make a dent in what i've booked for profits. Plus i'll be making on the UYG's while i'm planting the SKF's. No matter which way it goes i'll be booking.

Make any sense???

Love that Coinlieutenant

Would have liked it better if you bought DGP ;) Bad thing about DGP is it's still thinly traded so can't trade after hours sessions.

I seriously can't see POG breaking close to if not over $1000 BEFORE Tuesday!!!

Good job Peter

If it goes up 10% tomorrow, who gives a flying fvck. You see how my planting of those UYG's while SKF was screeching paid off today?? Covers me both ways. Now I start planting the SKF's for the way back :)


BTW The Godfather on again AMC :)

Tomorrow

No news coming out so can this really extend itself?????

We gonna need a piping hot CPI number of Friday :)

POG looking awesome

On a 30 minute chart starting with the low on March 4th (higher lows & lower highs) We are VERY close JMO

WOW

Largest gain since i've been trading (415+) WOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Miners

None Peter, Added some DGP and SKF and booked UYG three times (9%, 2%, 4%)

UYG

Booked $28.90 purchase @ $30.24

Added SKF $121.98

$125.32

Another SKF add (May have to hold these for a bit, we shall see)

Nice

I gotta get myself into options. They seem fun.

UYG

Booked this AM's $28.66 purchase @ $29.44

SKF

Position started @ $127.48

Nice bounce off $968.87

Now do we break out past $983/984

$968

I'd like to see us hold that higher low!!!!!

Joe's Rule #2

HAVE PATIENCE

Reading GIM & Kitco, it's amazing how negative people are getting cause POG has taken a break from it's ABSOLUTELY AMAZING run-up.

We have run-up 50% over the past 6 months and after hitting $992 last Thursday from $926 just 8 days prior (a 6% run in 8 Days!!!!!) we pull back to a range just 2% lower. My God this is the 4th DAY in this range. We were bouncing around in the $600's for 17 MONTHS!!!!!

This is a very healthy consolidation IMO!! The trend is still upward.

POG

Has been rangebound & trending SLIGHTLY higher for the past 3 hours.

We MIGHT have one more lower high ($981)/higher low ($968)????

Sorry Cubed

Just saw your comment. As me & you have been preaching for MONTHS now, they're just delaying the inevitable.

DGP

Added @ $25.84 Sitting on a LOT right now expecting this break-out. Not really interested in messing with the markets until we get confirmation one way or the other.

Fingers-crossed Lets go GOLD!!!!!

Nothing linked to price of oil??

Seems like they don't have any linked to the price of oil like the Gold ones : (

They're all stock investments

DIG-DUG

Totally forgot about them, thanks bud :)

I remember that arcade game though from when I was a kid (Dig Dug)

Question

Does anyone know of an UltraShort Oil ETF?? I'm thinking we're gonna get a nice pullback around $110!!

SKF

Is an absolute goldmine!! Shoulda bought @ $125 but I thought we'd rally a bit more. Oh well never get mad about "shoulda made" money, it causes you to get emotional & chase (Joe's rule #1)

Confident Bears and timid bulls

Thats what it's looking like to me.

What I take from the Fed's action today is that they're taking inflation more seriously then they're saying. They saw .75 baked in and a full point starting to get priced in and I don't think they were willing to go more than .50. Knowing this would cause a major sell-off, they came up with this idea (just my theory remember). WHEN the economic data keeps pouring in the way it has and the financials keep running into problems, we're going to go down even harder.

They're just delaying the inevitable. We'll gladly take another run through the same gains again though ; )

POG

I still say it's breaking out today, patiently waiting.

Morning Peter

Gun to my head, I'd say we make it back to around 12,350. You know I take it day by day though so don't hold me to it.

Added some UYG $28.66

Was looking to start buying back into SKF @$122 but didn't make it on the morning pop.

Very nice

Keep on a booking :)

WOW

Sh1tload of short covering going on in Yamana!!

Basically

The Fed is pumped a boatload of liquidity through some 28 day lending mechanism. I have no idea how it works but it ain't gonna save this market in the long run. It's just gonna give us another run up and back through these levels again $$$$$$$$$$$$$$$$

Basically what i'm doing is

I planted the UYG's while I was making money in SKF all the way from $95 - $140. Now I start booking the UYG's and start planting SKF's that i'll be able to book on pullbacks.

Now it's not always going to be perfect like this in that I could have been caught holding some SKF overnight, but this is why we get cautious the further we have come.

UYG

Booked yesterday's $27.33 add @ $29.50 for a VERY quick 9% gain. Still sitting on 2 lots ($28.90 & $30.56)

; )

Merry X-Mas boys!!! Fabulous day to have no shorts on hand. This is why we are cautious during the week before. Only wish I had added more UYG.

I'll start posting the levels to get back into the shorts.

Let's get this over with

Can't get to Tuesday quick enough. This is when we start making SERIOUS cash. Most people get their a$$es handed to them in a bear market but not here. There is SOOOOOOOO much more money to be made in a bear market and it isn't even close. Let the Fed do what they gotta do. Half point tomorrow and half point Tuesday? 3/4 point Tuesday and wait??? Who cares?? Just gonna give false hope to those who think the markets go up with only the minimal corrections. We on the other hand are gonna DOMINATE this bear!!!!!!!

Let's get it on :)

Which way do we go??

We are SOOOOOOO coiled up and ready to break here, just a matter of which way?? My "gut" says we be breaking out tomorrow morning FWIW!!

LMAO

Where was he again???? South Dakota in the cubicle???? LOL

Thats a FACT ;)

I'm loving it!! I knew he was a fraud. The two of them only know how to make money when they can just jump on the easy money in a bull.

The Godfather

Just starting on AMC :) Probably the 30th time watching it. Pick up something new each time and it NEVER gets old IMO

The Cubester

All right bro, glad you made it. GIM getting too boring???lol

Spitzer

Spent $4300 on the night in question Ron.

$4300!!!!!!!!!!!!!

Is he nuts? He's gotta get himself to Vegas ;)

I'd like to see a morning rally to give us a new entry point for shorts.

Client # 9

WOW Governor Spitzer is fvcked!!

Pull up a 30 minute or 1 hour

POG chart and you'll see we're not making lower lows but EXTREMELY close to breaking out to the upside. That being said, the main market is whats gonna drive the miners.

Basically the best thing to do is not worry about HAVING to make money every day and either stay in cash until we get confirmation or establish/add to positions.

Peter

Even though I had a target of $150 on SKF, I get nervous when it's starts getting this overbought. I still think we're gonna break out in POG tomorrow and still think the DOW stays between 11,750 and 11,950 this week. Not sure if you can day-trade, but you can find some easy 2% ranges if you want to do some sell & buy back lower moves.

EGO

Added $6.89

Rate cut

Probably not but I trade VERY defensive and don't want to get caught off guard. Looks like the markets are trying to find a range and should sit in them till next Tuesday.

POG Coinlieutenant

It'll get there when we least expect it.

Nice adds there!!

SLW

$17.13 add

Patience

Is always REWARDED Peter :)

UYG

Added @ $27.33 (Jan low was $27.31)

Booked SKF $137.62 (bought @ $131.70)

We're right around the Jan numbers.

Shorts

Wish I held onto my QID & DXD :( Sitting on a $131.70 SKF and thats it. Gonna take it easy till next Tuesday in case we get a surprise before then.

Sorry guys

Had to run out quick. This market has no idea where to go???????????

EGO

Position started again @ $7.09

Thanks Ron

I talk to GCubed on the phone all the time still and we decided not to stir up any sh1t by keeping me in it. No big deal but thanks.

POG trying to get back over $970.

Yamana

Scalped that last buy ($17.21) @ $17.73 for a quick 3%

SLW

$17.51 First long position taken (could have timed it better)

Yamana

$17.21 add

WOW

Feels GREAT to be light, thank God we book often here ;)

Gonna go check out the crying over at GIM!!

SLW

Covered $18.30 short @ $17.60

Gonna start adding longs!!

Seabridge (Courageous Lake)

http://www.seabridgegold.net/NMar10_08.htm

Economic Assessment complete resulting in 11.6 year mine life with a half MILLION ounces/year production @ $590/ounce cost ($435/ounce cost + $848 million start up costs)

Roughly half Billion Dollars for every $100 POG increase over $590/ounce. So @ $990 POG $2 Billion Value.

Note: This does include Inferred Ounces that are still in the process of being proven.

WOW

We got all the way down to $961!!! Should be a nice day to add positions in our miners.

See ya in tha morning

I'm thinking we got another jump to the low $980's then a bounce off $975.

Asian markets dropping so far :)

POG

Closing in on the end of the triangle. We should break out to the upside late tomorrow or Tuesday IMO!!

Sitting on 4 nice lots of DGP between $25.41 - $25.87 (fingers crossed)

Australia & the US Futures

Starting lower tonite (or this morning in Aussieville)

Red overseas Ron????

Nothings open yet???? I think you're looking at Friday's??

I still follow GIM and Hawk does a guessing contest and Weatherman did a statistical % for everyone and the highest at the end of the 1st 1/4 gets 3 oz of Silver. Problem is you had to enter at least half of the weeks and I fall under the requirement this week.

Best GIM forecasters of Gold

Unfortunately I got banned so this will be my last week as the leader over there.

Finally Sunday afternoon

Damn weekends take so long LOL

Big night tonite. Do we get a follow through overseas? Something is telling me we make a run back over 12,000 before the big plunge. If so it'll present a great opportunity for us to add shorts :)

Great week guys

Had to go out and spend some of my SKF profits ;)

Hope everyone is having a great weekend

Joe

Bud Light

We'll call it a push since I went for the 175+ number

Buy & book boys and we'll all do GREAT :)

AZK

Added @ $4.36

Covered

Yamana short from $18.95 @ $18.36

Booked :
QID $55.56
DXD $61.04
SKF $133.15

booked all QID & DXD only half SKF

Not at all Peter

Just gives another chance to dig in with the shorts. We are 100% in a recession IMO

$$$$

I try to not mention dollar amounts on here Ron but feel free to E-Mail me @ Joegoog23@yahoo.com Everyone's methods will change depending on how much they can invest. The more you have the easier it becomes as you can "bully" the market.

E-Mail me if you want a guide as to how much you should be buying at a time.

Joe

This AM

I woke up and saw the DOW up 40 points and 10 comments on the blog. Then I saw the (63,000). What a gift to have a hangover this AM :)

I really thought we'd be down over 200 and unless the fed interfere's next week we're gonna cash in $$$ Actually even if they step in we'll cash in ;)

Sorry Ron

I can't stand all those Sinclair puppets. The PPT is a FACT and is documented. Gold on the otherhand is traded and EVERY time it goes down, AX & all Sinclairs other puppets cry that it's manipulated. Their problem is they don't know how to trade and expect their baby to go up every day. We're up over 50% in the past 6 months. What more do they want????

As for the economy, we are an ABSOLUTE MESS right now and going much lower IMO

Golf

Thats one game that I could never get mentally. I would get soooo frustrated.

Nice job scalping Coinleuitenant. Thats the n.ame of the game

WOW

The PPT is working hard :)

Ron

Thats a nice buy, good job :)

Goldfinger

Good job. Ain't this fun ;)

Congress

That was such a joke. Torn along party lines just like the Clemens testimony. Mozillo started that company 40 years ago and an investor who put in 10,000 in 1980 would have made over 2 million dollars. He IS that company and his net worth was at stake along with the shareholders.

Bunch of nonsense IMO

As for my Thursday nights out, i'll try to tone it down a bit lol

My shorts are on fire, gonna cover some before the close.

Hey RON

WOW, what a day to sleep in a bit. I nailed it perfect this AM. :)

Dentists suck LOL

Long-term

We are in a SERIOUS mess. I'm thinking DOW 11,200 maybe 10,800 level?? Eventually the miners are gonna decouple from the markets and create AMAZING run ups. POG should get to $1100 before the April pull-back IMO

Yamana

Added $18.15

MBIA/AMBAC

I posted last week that it was a nice point to short but didn't do it. I wouldn't want to get caught either way and would rather have my money where I KNOW which way we're heading.

You're right though and I see it in E-Trade as well saying "if only I had...."

The reward is high but the risk is just as high IMO

Gold chart

They reduced the sleep time so it does ot WAY too quick now. I'm watching CNBC all day so basically get it there or on the GIM page which I think gets it from KITCO.

Here's another streamer that doesn't time out if I remember. I totally forgot about it cause I liked having the currencies on USA GOLD

This is much better

http://www.netdania.com/ChartApplet.asp?symbol=XAUUSDOZ%7Ccomstock_lite

You may be right

The PPT is gonna try to keep us above the technical levels but they're just prolonging the inevitable IMO

If we do end up rallying then i'll be adding to my shorts.

As for EGO the reason I didn't add yesterday is when you get a rally like that (13%) there's gonna be a lot of scalping and the pullback can be harsh. I see no reason we don't get to the $8 level that we would have been at had Kiselego been open all along. I'm looking at the same number as you, $7.25 to start.

As for the wager, i'll say we end up down over 175 ;)

FWIW

I really like DGP here. I'm thinking POG pops back over $990 and maybe through $1000 early next week. We're NOT going below $960 and Fed intervention is a good possibility next week which would cause a POP.

Morning Peter *drinking a beer to get rid of hangover*

I started my AUY position yesterday @ $18.75 and am gonna add @ $18.25. POG is starting to pullback so I think we get under $18 today where i'll add again @ $17.75. I don't set orders but do it on the fly so this is subject to change depending on my "gut" feeling which I am very confident in.

As for SLW I'm looking @ $18 to start my position. Silver is still VERY strong and SLW has been lagging so I don't see as big of a pull-back there.

SKF

$131.70 here we go ;)

More

DXD $59.94 & QID $54.56

I woke up at the perfect time LMAO

Shorts

Yamana $18.95 & SLW $18.30

Not because of POG but because markets gonna sell-off IMO

$54.14 & $59 50

Positions started in QID & DXD

DGP Very nice buy guys. Gold not gonna stay down here for long IMO

OK

Bought DGB 25.76 & SKF $128.11

-63,000?????? WOW Market looks like and bounced when it broke technical's just to shake out the weak hands. IMO it won't hold and we should sell off nice today

Gonna take QID & DXD positions BRB

OMG

I'm so sorry guys, I just woke up, very late night last night

Gimme a minute to digest whats going on

I'm very sorry BRB

GS

I've just been a big fan of theirs for the past couple years Ron. They have had blowout quarters one after another. I think they report in two weeks so next week will be a good time to start to build a position.

How was your day? How much time are you able to dedicate to trading?

If we get a negative job's number again tomorrow, QID & DXD come into play. Along with SKF:)

Goldman

I know i'm preaching my SKF all the time but GS is at $158!!!! WOW Gonna keep a close eye for a point to start building a position as I believe they're the least exposed to all this mess.

School first

I was teasing bro, like 80% of the people who try to do this for a living go broke.

Go Celts :)

Classes Peter???

You're not gonna need those classes at the rate you're going :)

I'm thinking that the jobs number is OK and the market starts higher a bit but eventually falls off a cliff in the afternoon. If we break below, the miners will not be immune and we'll be talking Yamana in the $17's again JMO

QID & DXD

Waiting till tomorrow for confirmation that we're starting the next leg down until I start positions in them. We're gonna have an AMAZING month or so if we break through and under 12,000 :) SHORTS RULE!!!!!

$133.25

Booked SKF bought @ $122.96

This is my last lot and I'll re-establish my positions in the AM

Thats my boy lol

Great job :)

AZK

Started position again @ $4.55

Hey Ron

I use Power E-Trade. Does the trick for me :)

SKF

Booked position bought at $125.88 @ $131.95

Leaves me with one position bought @ $122.96

Yamana

Starting new position $18.75

Not saying this is the low, but if we go back to the $19.25 area I can book it, and if we fall I can build on the position.

DGP

$25.41 sitting on 3 lots now.

Peter

I'll probably start adding at the end of the day if we get this sell-off into high gear. I use the main markets as a guide more than the POG.

I'll post anything I add.

DGP

Added @ $25.87

WOW

Lightest i've been in miners in a LONG time. Just booked the last of my SLW @ $18.39 and the rest of my IAG @ $8.07

Basically holding SA, FGOC, GLD, GDX, DGP, SKF & UYG right now (excluding the mainstream stocks/ETF's in my IRA). I'm thinking that if not today, tomorrow we see a break of 12,000 and the miners present a nice entry point. Have had an AMAZING run these past two weeks.

Links

I added a section to the blog for useful links. It's on the right side and I started with three I use often. If anyone has any they want added just give me the link in a comment. Hopefully it's helpful to all of us :)

Joe

EGO

Had 4000 shares before I started booking 2 weeks ago. Then flipped 1000 shares yesterday morning for a quick 4%. Missed by a day, oh well!!

EGO

Son of a b1tch!!!! Kisladag mine reopened and she popped WTF!! Gonna head to $8 now IMO

UYG

Is the UltraLong Financial ETF (Basically the opposite of SKF) I'm playing both ways since I saw $130 as a pivot point.

As for POG, I think $970-$990 is where we're gonna be till middle of next week when we may take out $1000 JMO

UYG

Added a bit @ $28.90

SKF

Booked $122.58 purchase @ $131.48

2 lots remaining :)

I basically keep this open and use table on the right

http://www.usagold.com/live.html

Don't mind me

Trying to find a way where it would open a new window instead of closing the blog???????

USD/Rand (Linked)

http://quotes.ino.com/chart/?s=FOREX_USDZAR&v=d6

USD/Rand link

http://quotes.ino.com/chart/?s=FOREX_USDZAR&v=d6

DROOY

Sorry guys but i've never researched this one at all. I basically stay in the same stocks and learn them inside out so I know their ranges and moves when they're happening.

DROOY has made a move similar to JAG's the past couple months. I'll go check out their website and see who they are comparable to in terms of reserves and projects.

As for the indexed shorts Ron, I'm only in SKF until I see confirmation that we break out on the downside. Looks like we could hit $130 today in SKF :)

Good move

The money WILL start flowing back into Seabridge. They're sitting on the largest undeveloped mine in the world. 50 million plus ounces in the ground. You should make a quick couple bucks a share back to $29.

Ron

Thanks for bringing them to my attention. I booked my first gain in DGP today and have another lot that's in the green as well. Love it to buy on days like yesterday when we have a big dip.

How are you making out?

Peter

We're on the same wavelength. I'm thinking we break 12,000 DOW tomorrow or Friday then we could be looking at breaking the January lows. Still shooting for $150 SKF by the time it's all said and done.

DZZ & DGP

I think they're gonna be my new best friends :)

What a wuss I am lol

Gold & Silver looking VERY strong!!!!

Covered both

1/2 % loss on AUY 1% loss on SLW

My first two bookings in the red since I started the blog :)

Don't want to hold the shorts overnight and looks like we heading for a end of day rally

The excitement is killing me :)

Big final hour here. We're gonna go strong one way or the other IMO.

Lieutenant

Nice job, keep booking em :)

Shorts

SLW $17.86 & Yamana $19.24

SKF

I already have 3 positions averaging about $124 so pretty set here. I think the next leg will be Friday when we should get over $130.

If market rallies then need to add to my UYG position taken yesterday. My goal is to book both in the green!!

SA

Making a nice push today. Hopefully she can string a couple days together and get us over $30 where we belong :)

DGP

Booked yesterday's $25.50 purchase at $26.54 :)

Still holding this AM's purchase.

Exactly Peter

We have time on our side and don't need to break the bank all at once. Just find the ranges and play them up (and down if you don't mind shorting).

Another thing is don't be ashamed of taking a loss. Better to book a loss than let it get out of control. (Except for my Seabridge which i'm stubborn about lol)

DGZ?

Thats a short of POG. I short the miners cause they'll fall if the POG falls or if the markets fall.

I would have shorted POG in the $990's but would have used DZZ which is the UltraShort.

FWIW

You guys all seem to know what you're doing but I just wanted to share one bit of advice that I use

If you book a profit and the stock keeps going higher like when I booked and shorted Yamana at $19.09 and it ran to like $19.39, in the past i'd be pissed and try to get back in and screw everything all up. If I can even book in 3-4% bunches then I could give a fvck what happens after I sell.

You guys seem to see the ranges just like I do which is the most important thing. The only thing in the way is the mental part of it.

Shorting

I'm looking hard at Yamana but gonna use the main markets as more of a guide than the POG

KGC

Never played with Kinross but looking at the chart i'd be taking some off the table.

Great job, it's had a VERY nice run

GORO

Booked the other half of my $3.40 GORO @ $4.23 Was trying to get to $4.50 which has been the top of it's range but it's getting too toppy!!

POG

I son't think we go below yesterday's low for the POG but it'll be a week or so before we go through $1000.

The miners on the other hand I feel are gonna go lower unless the main markets can hold yesterday's lows.

AZK

Booked yesterday's $4.45 @ $4.67

EGO

Booked @ $6.83 yesterday's end of day buy

DGP

$25.79

Morning guys

Gold looks like it wants to march right back up towards $1000.

Very important day today to see if the market can start to reverse or test yesterday's lows again.

Gonna buy DGP at the open (not enough action for pre-market yet)

ADP

Can't stand that they are allowed to release this number. The market moves based on the number then it's not even close to the actual number on Friday???

Guess it's good for the ratings.

If this number is validated on Friday then we could see a nice sell-off. Futures not really reacting that much.

Swattsup

Sorry but AX is simply a cheerleader for Sinclair. If you'd have listened to him over the past year, you'd have never booked any profits and missed out on a BOATLOAD of profits. I'll admit he's important to this rally as he keeps everyone positive, but it's amazing how much money he costs people in profits not booked.

Sorry if this bothers you but it's the ABSOLUTE truth.

Exactly Peter

Monday morning QB IMO. The cheerleading brought me too into the PM markets and I am grateful for that, but to continually blame the "cartel" for any PROFIT-TAKING is ludicrous.

I'll be up early in the AM and hope we can continue to book-em :)

Thanks Ron

I have seriously never read anything written by Sinclair except AX's excerpts saying that those who book or short are fools and will miss the run. Simply not true as I will prove to you.

Really glad to have you here Ron :)

Joe

Hey Peter

I didn't mean to sound obnoxious but it bothers me when I see AX saying "jim says this and jims says that". He says we'll have no pullback when we're flying thus keeping people from booking, then says the pullback was just what he was expecting????? Totally contradicts himself.

As for me, you'll notice that all I care about is BOOKING. I'm in my SKF, but added UYG today and expect to book both in the green. Being a contrarian in this market is VERY rewarding.

Glad to have you aboard bud

Joe

FWIW

That Sinclair guy is an absolute moron. He's basically trying to have as much of a "cult" following as he can get. He, along with his followers like Ax, keep pumping when you should be booking or shorting. The money they have cost you this past year is sickening. Just yesterday AX posted his usual Yamana to $26 before any pullback chart. I feel so bad that he's playing with people's lives.

It may seem that I'm in the wrong like when I shorted Yamana and it went up a bit more, but in the long run, booking is the way to go. It's great to have cheerleaders like AX, but you have to know when to realize that he's just that (a cheerleader)

Tomorrow we nail this thing again :) ABSOLUTE full proof plan!!!!

IMO

We gonna get a bounce back up to the $975 level in the Asian markets.

UYG

First add at $30.56. This will be a hedge to my SKF holding. Best case scenario, SKF continues to my $140 target and I can keep adding to the UYG on the way. We shall see ;)

QID & DXD

Booked all my QID @ $54 & DXD @ $58.70

Am comfortable holding SKF overnight at these levels but don't want to be too heavy in shorts in case fed intervenes.

SKF

Guess i'm not booking today in my indexed shorts. Added SKF $122.96.

Should have added Yamana $18.00 (bangs head)

Ron

I aways start building my position 3-4% below my last booking if possible. While i'm hoping for a pull-back to the $6 level, i'd like to have a 1/4 position in case we rally (especially with a potential rate cut looming). I'm always thinking what can I book, and POG fell big-time today so a bounce back definitely isn't out of the question. If EGO pulls back then I have three more quarters to add when I deem necessary and the process of booking profits begins again.

If I only had the ability to add one time, then I would wait till around $6-$6.10. FWIW

EGO

Added $6.57 think my last booking was $6.80 ish??

AZK

Added $4.45. Nice discount from the bookings I made last week.

Yamana short

Closed other half at $17.98

Turned out to be a great trade after all :)

SKF, DXD & QID

I'll be booking all my positions before the end of day. Will post when I do. Some of you may think it's odd since my targets haven't been reached yet. My rationale is i'd rather book then determine where we are headed again tomorrow. If you notice I missed a few bucks by booking on the way up, but from past experience, i'd rather do this than have to wake up to a FED intervention which would bite into my profits.

Which way do we go.....

Markets trying to figure out which way to go. Remember we are at the bottom of our range so a reversal is very possible.

POG looks to have found support at $960.

Still waiting to dive back in one way or the other.

Coinlieutenant LOL

We should see this sell-off kick it into gear this afternoon.

SA

Not worried at all. I would love to have been able to book and get back to my comfortable 4000 shares but I have absolutely no worries and will simply hold long term and make my short term money elsewhere. They're sitting on like 50 million ounces and have enough silver at the Mitchell zone to give a negative cost per ounce. When they get bought out it'll be for a MINIMUM of $60 IMO

I was heavy in the run to $30 last year from mid teens and I owe her the chance :)

Goldfinger

Not adding any miners yet. I think this mini rally fails and we sell off again into the close. I did add some DGP (Gold Ultralong) in case we bounce.

$125.88

SKF add!!!

DGP

First purchase of this guy @ $25.50

Got a feeling i'm gonna be playing with this and DZZ quite a bit!!

Just a heads up

Keep UYG on your radar. I missed the boat last time SKF went over $140 and reversed. If the Fed intervenes then jump aboard UYG for the best gains!!

Yamana

Made a bounce but should pull back again. I'm looking at $17.75 and $16.50 on SLW

Almost there

Very close to falling off the cliff here. Would love to see DOW sub 12,000 & S&P sub 1300!!

WOW

Ran out to get something to eat and what a surprise :)

Everyone happy we lightened up last week now???

Covered half my Yamana short at $18.03.

Not buying into anything yet. Wish I had added more Index shorts this AM!!

Very Cautious

We're on the edge of some important technical levels. Waiting for a break to put my cash to work. Very light right now and EXTREMELY happy about the profits from last month. Want to be sure to start off March on the correct side.

SA

Totally agree but I went above my limit already and have 5700 shares.

Sorry Guys

I just got in from a night out at a friends :)

Yamana making me look silly but still sticking with the two short positions I took yesterday. Looking to add to the SKF,QID,DXD positions I started up yesterday.

Money rotating out of explorers and into producers, only reason I can see for Seabridge falling back to it's $25 level.

As for being light in miners, the reason I booked so much is we we're in an overbought position and approaching a significant number ($1000). Try not to think of the few % since you sold, simply buy back in if you think they'll continue to run. I have been doing this for over a year and they ALWAYS pull back. However I knew eventually we would get to a runaway point and i'd miss out on a bit. My rationale is that all the bookings on the ups and downs over the past year are MUCH more than what i'll miss if I decide to buy back in if I see it going parabolic. I haven't seen signs of this yet so am holding out for a pullback.

Yamana

Sold 17.76 purchase from Friday for $19.09 and added to short $19.08

Swattsup

Sold all my SKF last Friday. This was just starting a new position in case we sell-off today.

Yamana

Still have one portion long that i'm gonna sell around $19.25 at which point i'd add to the short.

Although i'd rather just have the pullback now :)

Yamana

Shorted $18.69

122.58

SKF 53.60 QID & 58.22 DXD

Expecting a major sell-off today.

Bonds

Never traded in my lifetime. Sorry :(

I watch CNBC all day (with ESPN Radio playing on my computer sometimes) so right before 10:00 I think i'll be adding SKF, QID & DXD.

POG is FLYING!!!!!!

Lot's of powder

Looking for a home today. Global markets sold off pretty heavy and futures down quite a bit. POG up over $982 so we'll have to see whether the miners follow the POG or markets??

I'm expecting us to get a chance to add back to the miners we booked last week.

Glad I was able to book so much in SKF last week, but looks like it's gonna run further. May look to add on 10:00 info if weak. Otherwise may use UYG for a quick trade if we get near $30.

Hey John

Aren't Sunday nights the best? I used to hate them when I had a "real" job. Now I have a tough time sleeping as i'm all amped up for the open tomorrow LOL

I think your analysis is DEAD on. Believe me though, I WILL find a place for our money tomorrow ;)

EST

I'm usually up by 6:00 EST to see my gal Becky Quick :)

Futures looking awful!!

The perfect Storm

I hear you Goldfinger. Only problem is I sold all my SKF Friday and the miners mights still go down even if we hit $1000 if the markets sell-off.

I gotta nice plan for tomorrow depending on the futures.

Will keep everyone advised.

Joe

Look out below

Looks like we're gonna be set up for another sell-off tomorrow and we should break below key support levels. If so i'll be adding to my QID & DXD positions and getting back into SKF. The most important thing in trading is being able to keep your mind clear of the "I could have made" issue. Stay focused on whats in front of you and understand that by booking often you are eliminating nasty pullbacks.

$1000

I can feel it happening before tomorrow's close. JMO

FGOC

Been holding since .28 cents and have booked quite a bit including when we were in the .90's. Taking MUCH longer than I expected but it seems like the TSX listing will be a done deal by the end of next month and that should get her rolling.

I know what you mean about getting impatient though. Many are.

Hey Peter

I graduated with an Accounting & Finance degree in 1992 and worked my way up to Comptroller at a non-profit organization over the next 8 years. Then I was with the IRS for the next 6 years.

I started following the stock market when I was like 15 years old (checking quotes of certain stocks) but didn't try trading till I was 24. Everything has been through my own experiences and the only book I have ever read is a book on T & A. I started gambling with a bookie when I was 12 years old and I think that helps a lot in why I am able to control my emotions so well and look at the broad picture. The fact that I HATE losing is probably part of the reason I book profits so often.

Hope everyone is having a great weekend

Joe