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Post by ask2lern on Feb 21, 2010 16:50:47 GMT -5
Hi Gang…….here is the gold pivots based on Fridays New York close…..Asia opens at 6:00 EST today so I thought I would get them out…………. R4 1178.23 Mid Point 1168.03 R3 1157.83 Mid Point 1147.63 R2 1137.43 Mid Point 1132.60 R1 1127.77 Pivot Point 1117.03 Mid Point 1112.20 S1 1107.37 Mid point 1102.20 S3 1076.23 Mid Point 1066.03 S4 1055.83 Here is a good article from the Hindu Business line on gold… www.thehindubusinessline.com/2010/02/22/stories/2010022250210700.htmThe Hindu business Line has proven to be a valuable source of info on gold and other commodities ……. Don’t know how much I will be posting Monday being the first day back…..I will be lurking and probably repost this with the data releases in the morning……or if I see anything crazy……………..….GLTA Ps. Not sure where this should be posted but I am sure I will catch on…..LOL
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Post by exabi on Feb 21, 2010 17:42:28 GMT -5
Ask,
You posted in the right place. Welcome back from Vac.
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Post by ask2lern on Feb 22, 2010 8:01:43 GMT -5
Thanks Ex.......no data releases today..........gold looks range bound between PP and R1...............buying is the driver at the moment.....................GLTA
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 22, 2010 9:29:47 GMT -5
Hey Ask,
Good to see you back - tried to e-mail you the new board's link b/c I knew you were on vacation when we made the move.
Appreciate your guidance - I was long gold from the $1,050-ish area to $1,120-ish via miners and riding CEF from $12.35 on 2/4 to $13.68 on 2/17 and FCX from $66.79 to $75.74, not bad for a 2-week run. Right now I'm on the sidelines awaiting gold's next big move - I'm guessing that if the dollar index pulls back above $80.6 the next move for gold will be down.
I'm also bearish on the general market but am not looking to short gold - though I am eyeing miners like PCX and ABX as potential shorts, they both had crazy breakouts last week - most of the miners are still below their L/T moving avg's so there's not much downside in a name like PAAS versus the bigger movers like PCX/ABX.
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Post by ask2lern on Feb 22, 2010 12:33:39 GMT -5
Thanks Mike.......glad to be back...........I don't have a yahoo addy but feel free to send me a PM anytime.........just getting my head back on straight.....nice plays....I like FCX a lot for short term trades very reliable trading range.......great job on your trades......I have not looked at comex vols yet or some other stuff I look at so not much for direction at the moment looks like 1110 is holding at the moment as ST support.......I did buy a few spy 111 calls @ 1.44 today...............I will try and post more on gold later or before mkts open tomorrow..............GL
I may play BBY but see how much time I have.......
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Post by ask2lern on Feb 22, 2010 12:36:06 GMT -5
Sorry I got spy 112's @ 1.44...........GLTA
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