Friday, 30 September 2011
Thursday, 29 September 2011
Wednesday, 28 September 2011
here is an update of Ron Walker's hourly Nyse chart posted earlier....backtest complete,ema's in bear cross....nice setup
The attractiveness of the setup was enhanced to me by the proximity of natural gann level 7200 to the backtest high ....natural resistance whether Gann circle number,Murrey math level,round number or a square like 250 or 64 always gives you extra confidence and helps with stop placement.It also helps that Ron posts such nice charts !
We had a doji on the Dax today,which alleviates some of the bullish potential in that chart
The attractiveness of the setup was enhanced to me by the proximity of natural gann level 7200 to the backtest high ....natural resistance whether Gann circle number,Murrey math level,round number or a square like 250 or 64 always gives you extra confidence and helps with stop placement.It also helps that Ron posts such nice charts !
We had a doji on the Dax today,which alleviates some of the bullish potential in that chart
Where's the beef ...I mean gold ?
here is an interesting comment on gold,from Albertarock,posting on Daneric's board and another reason why it may be best not to get too bearish
Several months ago I'd mentioned that Mexico had bought 110 tons of gold. Turns out they didn't take possession of it though. Good thing they didn't ask for possession because it turns out that that gold didn't even exist. It is becoming more and more apparent as all the gory details emerge, that the gold bears are at extreme risk should more than a couple of these bigger buyers ask for delivery at the same time. Because if that were to happen, somebody isn't going to get their gold. Not at today's price. Possibly not at any price. The member banks of the LBMA (London Bullion Market Association) sell gold to clients, then offer to hold it for them and charge a hefty fee to store it. Of all the gold they have sold and supposedly actually have physical possession of, in storage, do you know what percentage they 'really have'? 1% They're supposed to have 100% of it. They have 1% of it. How's that for a recipe for disaster?
http://seekingalpha.com/articl...
Several months ago I'd mentioned that Mexico had bought 110 tons of gold. Turns out they didn't take possession of it though. Good thing they didn't ask for possession because it turns out that that gold didn't even exist. It is becoming more and more apparent as all the gory details emerge, that the gold bears are at extreme risk should more than a couple of these bigger buyers ask for delivery at the same time. Because if that were to happen, somebody isn't going to get their gold. Not at today's price. Possibly not at any price. The member banks of the LBMA (London Bullion Market Association) sell gold to clients, then offer to hold it for them and charge a hefty fee to store it. Of all the gold they have sold and supposedly actually have physical possession of, in storage, do you know what percentage they 'really have'? 1% They're supposed to have 100% of it. They have 1% of it. How's that for a recipe for disaster?
http://seekingalpha.com/articl...
Monday, 26 September 2011
Subscribe to:
Posts (Atom)