Funny I made a stupid mistake like this. I guess I am a bit distracted today. For a man with MS in applied math it's unforgivable - shame on me.
A conventional thinking would call for some bounce from the double bottom we just reached, but I am not calling anything before I do some analysis.
You seem to have a problem distinguishing a day trade or, in this case what I call an "event trade", from long(er) term investing.
And BTW, as much as I expect UNG to come up to $23-24 area, I doubt it highly NG will go to $5.25.
It was indeed, Alex. I took a ride both ways withing some 30 minutes.
As I expect the NG inventory report is going to be in some 20 minutes.
Normally as good as any other stock in the undustry, In the last few weeks the stock is acting erratically. Something's up with the company.
Has anybody done any analysis of fundamentals?
This id is 1 day old and posted 48 msgs this far. You seem to have profound knowledge of people on this board for somebody who was born yesterday. I'll clean up my board - IGNORED!!.
Hi, Alex and thanks for the vote of confidence.
As far as my call for a short lived rally, I remember writing it but do not remember exactly when. The high on 12/16 was $1251.75, on 12/18 - $1244.62. I'll consider that call fulfilled within a margin of error.
As far as writing up an overview, I was just thinking my "Weekly Summary" was about six months overdue.
Time permitting (kids, babysitting, snow shoveling) I was already thinking of spending some time for thorough analysis for USD, Metals and the miners. Will try my best to get this done over the coming weekend. GL.
If it makes anybody feel better - it took me a few years of trading and costed me a lot of money to work out the rules and inforce the discipline.
Years I spent on Wall Street developing/implementing technology didn't hurt.
I did indeed. Whoever said "you can't have it both ways" was wrong. I just wrote about it yesterday.
Looking forward to NG inventory report tomorrow @ 10:30. Hopefully it'll create similar volatility.
What will happen now? We can totally disregard what happened in the last hour and a half and go back to normal. You know, even this minute I have no idea what was in FOMC minutes - I do not care. Whatever happens - I'll just keep trading according to my own rules..
Sorry it was so clear in my own mind, I didn't think it would be confusing to everybody else.
Of the pre-announcement price of GDX or $HUI, some "basic" gauge for the miners.
I am not sure I understand what you mean by "big corporations have the USA by the balls and the average worker is getting screwed two way till Sunday."
I sold DUST I bought at the open, but if I was holding it long(er) term, I'd say: HOLD, and here is why: as a usual rule, with exceptions (!), there is a knee jerk reaction to FOMC minutes one way or another which later settles back to where it started, give or take. If the initial reaction - DUST up a few %, I'd sell with intention to buy cheaper within the next hour or two. If you lose a few % - I'd double down with high degree of certainty it'll get back to where it fell from, where I’d take the latest half off the table with profit. As you said – it’s a gamble.
If the initial reaction is 2% - I'll play a contrarian play regardless of the direction, just as I usually play NG on Thu mornings . This is JMHO.
Yes I did mean $1180. Wouldn't it be nice if we were talking about a double bottom @ $1800? I'll suspect BH wouldn't be against it.
I wanted to get away without presenting my view, but decided against it
Here is my favorite scenario for the next few weeks. A short rally to re-test resistance @ mid- $1250s
before decline to very low $1200s or below.
I do feel a bit shortsighted next to you as at this time I can't see anything below the double bottom in the $1800s. But again this is for the next 4-6 may be eight weeks.
All of this is JMHO.