Share tips thread
Discussion
R8Steve said:
I had called a sharp rise in gold in another thread recently in response to a question from Oakey and was quickly told that this was rubbish by someone i assume was in the industry and that it would drop at least $300. I remained long from $1070 although did close that contract and reopen at a reduced amount just over $1100.
Exactly why I just follow the charts they don't lie. The reasons why something happens are largely irrelevant in trading, at least to me. Maybe this whole negative rates stuff is driving the rise I don't have a clue. I missed the early bull flag, which would have triggered at a bit higher than your $1070 level. In the end got in at a breakout of the 5yr downward trend at 1133.
I have a tiny position left just stop tailing it now that 1180 target was hit. But as I stated in the other thread gold could be setting up for a huge move through the rest of the year, the next pullback will be one to watch and that could set up a move to $1400ish.
Good link here if anyone is interested in all this chart malarky. His book "Technical Analysis of the Financial Markets" is probably the most helpful book I've read charting wise.
http://stockcharts.com/school/doku.php?id=chart_sc...
Edited by twinturboz on Monday 8th February 14:02
twinturboz said:
Exactly why I just follow the charts they don't lie. The reasons why something happens are largely irrelevant in trading, at least to me. Maybe this whole negative rates stuff is driving the rise I don't have a clue.
I missed the early bull flag, which would have triggered at a bit higher than your $1070 level. In the end got in at a breakout of the 5yr downward trend at 1133.
I have a tiny position left just stop tailing it now that 1180 target was hit. But as I stated in the other thread gold could be setting up for a huge move through the rest of the year, the next pullback will be one to watch and that could set up a move to $1400ish.
Good link here if anyone is interested in all this chart malarky. His book "Technical Analysis of the Financial Markets" is probably the most helpful book I've read charting wise.
http://stockcharts.com/school/doku.php?id=chart_sc...
Do you solely base your trading decisions on charts?I missed the early bull flag, which would have triggered at a bit higher than your $1070 level. In the end got in at a breakout of the 5yr downward trend at 1133.
I have a tiny position left just stop tailing it now that 1180 target was hit. But as I stated in the other thread gold could be setting up for a huge move through the rest of the year, the next pullback will be one to watch and that could set up a move to $1400ish.
Good link here if anyone is interested in all this chart malarky. His book "Technical Analysis of the Financial Markets" is probably the most helpful book I've read charting wise.
http://stockcharts.com/school/doku.php?id=chart_sc...
Edited by twinturboz on Monday 8th February 14:02
Edited by shopper150 on Monday 8th February 14:19
traxx said:
What is going on with IG when shares really start moving?
I'm short Chesapeake which are now down massively
IG shows them as being suspended - but they are't
Are they not just suspended from online trading or for new contracts?I'm short Chesapeake which are now down massively
IG shows them as being suspended - but they are't
Phone them and they should be able to close off your short if that's what you are trying to do.
R8Steve said:
twinturboz said:
What's surprised me the most is the sudden flight to safety in Gold. A total change from 2015. Even now overbought but still going up.
I had called a sharp rise in gold in another thread recently in response to a question from Oakey and was quickly told that this was rubbish by someone i assume was in the industry and that it would drop at least $300. I remained long from $1070 although did close that contract and reopen at a reduced amount just over $1100.shopper150 said:
Are you guys buying anything today? Seems tempting.....
Just waiting for the XLF to stop making lows, the market isn't going to bounce when the financials are still moving lower. Got long some oil again, for Amazon, Google and Fb will go long with today's lows as stops once they get above Friday's lows. Apple looked great straight out the gate.
Trax you get out of CHK? Says news pending.
twinturboz said:
Trax you get out of CHK? Says news pending.
No point getting out of shorts in these US E&P firms Oil and US gas aren't going to recover to the degree that they need in the near term
I would expect that with most of these firms they try and renegotiate their debt which obviously means that the equity holders will be wiped out
Today I'm more amazed that Glencore isn't getting hammered down again - but guess a lot of short sellers got badly burnt on the short squeeze last week
traxx said:
No point getting out of shorts in these US E&P firms
Oil and US gas aren't going to recover to the degree that they need in the near term
I would expect that with most of these firms they try and renegotiate their debt which obviously means that the equity holders will be wiped out
Today I'm more amazed that Glencore isn't getting hammered down again - but guess a lot of short sellers got badly burnt on the short squeeze last week
Is there a nice ETF what we can short?Oil and US gas aren't going to recover to the degree that they need in the near term
I would expect that with most of these firms they try and renegotiate their debt which obviously means that the equity holders will be wiped out
Today I'm more amazed that Glencore isn't getting hammered down again - but guess a lot of short sellers got badly burnt on the short squeeze last week
traxx said:
No point getting out of shorts in these US E&P firms
Oil and US gas aren't going to recover to the degree that they need in the near term
I would expect that with most of these firms they try and renegotiate their debt which obviously means that the equity holders will be wiped out
Today I'm more amazed that Glencore isn't getting hammered down again - but guess a lot of short sellers got badly burnt on the short squeeze last week
Fairplay just thought might be a squeeze risk depending on the news. Oil and US gas aren't going to recover to the degree that they need in the near term
I would expect that with most of these firms they try and renegotiate their debt which obviously means that the equity holders will be wiped out
Today I'm more amazed that Glencore isn't getting hammered down again - but guess a lot of short sellers got badly burnt on the short squeeze last week
traxx said:
How many times have I been burnt believing that Tesla is the most over valued share and now its collapsing and I've hardly got any short 
Hah that's so me. All the times I tried to short FANG and this market last yr and now the shorts start working I'm doing the opposite and buying 
Pure hunch here, gap up tomorrow it's not called turn around Tuesday for nothing.
twinturboz said:
traxx said:
How many times have I been burnt believing that Tesla is the most over valued share and now its collapsing and I've hardly got any short
Hah that's so me. All the times I tried to short FANG and this market last yr and now the shorts start working I'm doing the opposite and buying Pure hunch here, gap up tomorrow it's not called turn around Tuesday for nothing.
http://seekingalpha.com/article/3875456-tesla-marg...
Gassing Station | Finance | Top of Page | What's New | My Stuff