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Yamana Gold, Inc. Message Board

  • leviqxk leviqxk Sep 2, 2008 10:42 AM Flag

    This market is going to give it up

    I am back in SKF. I think this is 1 GIANT head fake.

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    • Pick a percentage you are willing to lose. It all depends on the stock, usually 2-3%.

    • Today was a strange day, it gapped lower and came back. That 200dma line held and the S&P failed today. That is bullish for SKF. As you said, you have to make sure you cash out quick though. Even the spikes SKF has had in the past didn't hold very long.

      According to the options, there are bullish bets out to $145. When the brokers report, I expect SKF to take a jump higher.

    • The stop is going to depend on your risk tollerence.
      With a stock like SKF the swings are wild so you need to set a loose stop.
      It's best to be very familiar with the stocks you trade because they all have patterns.

      I baught SKF at 110 and didn't set one untill it went to 115, now it's set at 110. They painted the tape at the close today, like usuall, otherwise It would have closed over 115.
      You can almost always buy SKF at the close for a discount.

    • Good move, we will be at 155.00 by month end if not sooner!

    • Very true. I take profits whenever I can, no matter how big or small. I have no confidence in holding any position long or short in this market. Let's say I bought AUY today and it went up 4% tomorrow, I would sell it in a heart beat. It might go to $11 or $12, doesn't matter, my profit is in hand.

      I'm not chasing anything in this market. I have much more confidence to short the market when it runs up than to take long position and hope for a bounce.

      AUy is a good trading vehicle, if you catch a move of 4%+, sell it and wait or move to another beaten up stock. I look for stocks that have bounced off the 200dma for long trades. The S&P failed today, that is why the selling accelerated.

      A stock I would short right now is BAC, it has a gap to fill from this morning.

    • Levi/BAE,

      Excellent call on SKF and the general market conditions for today's market open.

      What a joke. Each rise of the market is being heavily sold into (from different articles that I have read) and yet there are still suckers buying into the rallies and selling commodities and hedges (metals, oil, etc).

      I wish the market would be allowed to trade unmanipulated so that we can get through this cycle faster and get on with fixing the US economy. Manipulation simply draws out the process and delays the outcome. It may even create a more dramatic effect if and when the bubbles burst. But alas I realize it's wishful thinking hoping for a truly free market.

      Laf

    • Just watch SKF go green while UYG is still green! You got a freebie today with the gap! now you know why they snapped up SKF calls this morning.

    • S&P just broke resistance.

      I baught TWM today too, not as good of an entry as I got with SKF but I am up a point on it. In at 66.25

    • Let's see if they paint the tape again at the end of the day.

    • The tool they are trying to use is oil, the market reacts to every move in oil prices. It is obvious that the government is manipulating oil trading and the financials. Those are the only things they really care about.

      I only wonder howmany billions have been wasted trying to manipulate this market.

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AUY
2.96+0.04(+1.37%)Jul 2 4:02 PMEDT