Stockmarket Blues

Personally I wouldn't be going long oil until I see a capitulation low.

I'd be very surprised if oil doesn't sell off further during the US trading hours tonite.
 
It can be done by CFDs, or you can get leveraged oil exposure via oil stocks (incl. options, warrants etc)
 
I buy or sell the futures on the forex market US/OIL or trade the CAD/USD currency pair which is a proxy for the oil price
 
Another nice little touch.

65_line.png
 
US inflation figures due out tomorrow morning 12:30am AEST - should separate the wheat from the chaff in both US equities and the precious metals from over the past week or two. PPI figures beat expectations the other day which may be an indicator on the CPI figures beating expectations, however they don't always correlate.
 
Beautiful pennant formed in gold, somewhat due to Negative Interest Rates in Japan - safes now being sold out.
This is a continuation pattern & usual expectation is to see gold move higher from here.

H&S still in play on the major U.S. stock indices. Crash potential still lurking.

65_bull_gold.png
 
^^^

Right, that prompted me to pull the trigger on my first unallocated buy (all of $300) :)
 
SilverSale said:
Gold has broken through the bullish pennant and moving north as expected.
Click to expand...
That's the break there now, after todays small pullback to support (top edge of pennant). :)
 
Looking at the Daily it appeared broken earlier, but you are right I didn't look at the intra-day.

What's your preferred trade currently wrcmad? So many amazing options in this environment.
 
SilverSale said:
Looking at the Daily it appeared broken earlier, but you are right I didn't look at the intra-day.

What's your preferred trade currently wrcmad? So many amazing options in this environment.
Click to expand...
Had to take a long on this gold break. :)
The odds are just too good to pass up.
Here is the 4 hrly showing the breach of the pennant, pullback, and move higher.

4088_goldmini.jpg


But the daily suggests a bigger underlying trend break to the upside.

4088_goldmini2.jpg
 
Yep - a good trade - I still believe shorting SPX will give much better returns short term however..

Either way, we're gonna make some good $$ :cool:
 
wrcmad said:
SilverSale said:
Looking at the Daily it appeared broken earlier, but you are right I didn't look at the intra-day.

What's your preferred trade currently wrcmad? So many amazing options in this environment.
Click to expand...
Had to take a long on this gold break. :)
The odds are just too good to pass up.
Here is the 4 hrly showing the breach of the pennant, pullback, and move higher.

http://forums.silverstackers.com/uploads/4088_goldmini.jpg

But the daily suggests a bigger underlying trend break to the upside.

http://forums.silverstackers.com/uploads/4088_goldmini2.jpg
Click to expand...

Nice charts wrcmad, where do they come from?
 
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