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Thursday, March 10, 2011

STOPS & TRADE TRIGGERS

I have added a stops and trade trigger link to the premium site with the current trade trigger levels for stops and levels where we will add to positions.

124 comments:

  1. Thanks Gary - much appreciated!

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  2. Cool Gary, love those new links under Daily Cycle Counts!

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  3. Gary
    Could you also put the hui # and the gold or silver spot price you used to pick the trade stops and trades
    Might be useful when relating them to what people are saying on the board
    Thanks

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  4. Are you saying that at that gold level you do the same for silver?

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  5. Ugly break on GDX this AM, right at the 50 sma now.

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  6. trader lady,
    Yes that trigger activates all buy orders.

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  7. getting pretty ugly out there today...

    SIL down more than 6% now

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  8. Left on my own, without the expectation that this was going to happen I would have been thrown off this beast.

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  9. Thanks Gary for practicing Kaizen. Must come from being a world class athlete.

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  10. thanks G or was I having a senior moment and it was there all along?

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  11. Nasty open all round :)

    Can just feel the panic.

    I'm getting ready to pull, think we still have some morning selling left to do before pulling.

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  12. Gary,

    Can I suggest that you date the top of the trade triggers/ stops article on the premium site. Just to keep the numbers relevant. I know I have been confused looking at the cycle counts if they haven't been updated, because I don't know the date the article is from. Just my 2¢

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  13. Gary,

    Are "those" Call's still on your trade trigger?

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  14. April gold support at 1410.7 held,sharks have gotta be eyeballing that right now.

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  15. no1, Daily Cycle Counts are current, or at least current to the last truly-significant event.

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  16. Morning all,

    Give me one scotch, one bourbon
    and one beer.

    Bought my last little bit.

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  17. So far I've only been filled on some SVM and SIL (SIL isn't my favorite, for sure), and have orders in another good stretch below current prices. I'd LOVE to see a washout coughing up shares into my hands.

    Moves like this are great opportunities. Sure they might go lower this afternoon or tomorrow, but they're giving up positions to strong hands at nice prices. :)

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  18. Guys, just look at the top left corner of Gary's chart, it has the date.

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  19. And of course I',m keeping some powder dry to snag more if we get some downside follow through tomorrow.

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  20. veronica,

    I doubt gold will not dip below 1410. Support and resistance depend on value areas of previous trading ranges, and not on pivot lows and pivot highs.

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  21. I'm waiting, i dont believe we're anywhere near done. I want to see Silver hit 4% down for the day and hopefully gold run the $1,410 level.

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  22. George Thorogood entered the room in the form of TommyD!

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  23. No one of conseq.,

    On the two posts that you're asking Gary to add a date--the cycle count charts and the triggers post--both of those have charts and the charts themselves have a date. So the date on the charts is the date that the post was updated.

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  24. Bollinger band crash trade on the HUI if it closes here. And silver is again showing exceptional relative strength.

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  25. I don't think we're near the end of the pullback, either, but have to add when they give me the chance. :)

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  26. OOPHS, I CALLED YESTERDAY TO BUY 500 SILVER COINS FROM ONE OF THE COIN DEALERS ONLINE AND TOLD THEM I WANTED TO BUY, WITH THIS COMPANY, YOU HAVE TO WIRE THE FUNDS TO THEM THEN THEY SEND THE COINS, I HAVE NOT WIRED THE MONEY YET, DOES ANYONE KNOW IF THEY RENEGOTIATE THE PRICE IN THIS CASE? JUST ASKING AS I DON'T HAVE MUCH EXPERIENCE IN THE PROCESS?

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  27. DumbM.A.

    Well, when you read the cycle counts it will say something like "stock market daily cycle count: Day 9 But it hasn't been updated in over 2 weeks so we are actually on day 13 or 16 or whatever. The charts don't zoom, so depending on what you are viewing the site on, it can be confusing. If it said: Feb 24, Stock market cycle count day 9 it wouldn't be as confusing. I realize he doesn't update them every day and some are updated more often than others and I'm not trying to make more work - just saying sometimes it is confusing.

    So, My suggestion to put a date at the top of the stops article is just for clarity's sake. Just to know when those stops are established. Especially if he is going to be using that format long term.

    Again. Only a suggestion. Not a complaint.

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  28. Now I can relate to my wife, this is how she feels walking into a year end Macy's sale with a wad of cash!

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  29. K,
    I doubt it. If you locked in that price then you have to make good on your promise or risk not being able to do business with them.

    Not to worry this is just a brief profit taking event that will soon be reversed by much much higher prices.

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  30. "Poly said...
    I'm waiting, i dont believe we're anywhere near done. I want to see Silver hit 4% down for the day and hopefully gold run the $1,410 level."

    what is that for AGQ?

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  31. David K,

    Are you saying that you think it's likely that gold WILL go below 1410?

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  32. No One,
    The daily cycle count is correct for stocks. I re-phased the last daily cycle low.

    All cycle counts are updated every day even though I don't update the charts every day.

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  33. I guess somewhere around $193.

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  34. Well this will definitely cool down sentiment

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  35. pimaCanyon,

    Yes I do expect it to go below 1410.

    The value area of the previous trading range goes from 1398 to 1406 (a rough estimate), so I expect this area to be support. If gold just slices through this area without rallying 20 points or so, I would be concerned.

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  36. I too am buying. The past two Thursdays have provided great buying opportunities, with AGQ down $17 two Thursdays ago. The next day silver rocketed, with AGQ up $15.

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  37. On the positive we do not have a runaway cycle, so spotting the top makes it a bit easy

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  38. David, I did say the sharks were circling the stops in that area:)

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  39. the pullback happened on the fourth day of the week exactly as is happened in the only down week from the september rally. That was also the day when the weekly low occurred with the 20 sma tag and slightly higher close on Friday. If we can tag the 20 today that would be awesome

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  40. "On the positive" - I don't see any negatives. This action is just fantastic.

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  41. I'm putting in a chunk now and saving the rest when Gary adds. I'm really thankful for Gary's plan, without him I would be WAY more scared than I am now heh.

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  42. SB,

    What do you think of SVM at these prices? Are you buying here?

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  43. As it still seems to be "all one market", I am thinking that SP500 below 1295 and copper below 410 would also be a general sell signal.

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  44. Gary... found your new post... LOL, I was so ready to jump, I didn't ask how high, just jumped. :)

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  45. i'm going in for 25% of my dry powder

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  46. pima,

    yes, I bought SVM and some SIL, with more orders another 3-5% below current prices, depending on the security (like EXK).

    Will buy metals tomorrow if puke follows through.

    I also see I just got filled on partial order for NUGT (below $33).

    I think we could see more downside but have to take advantage on these washouts.

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  47. Do some buying, and keep some funds ready to add more should we get further weakness.

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  48. thanks, SB. I also nibbled at SIL and SVM, as well as gold deep in the money calls.

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  49. Of course we cannot know if today will be the cycle low, but I just love buying into action like this.

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  50. Huge down volume on Silver coming through right now.

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  51. AG is on my list, but still quite a distance away from my buy order, likewise I'd be happy to pick up EXK in the low $8's.

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  52. It's surreal to feel good about my account balance being hammered. Lovely day. Can hardly wait to add big chunks of AGQ.

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  53. NG getting hammered more than usual on days like this. I'll be leaving that one alone as it didn't go higher when the moved up last several weeks.

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  54. Ill cheat, and jump in here...2 bucks away from my target will do.
    Let the buying begin!!!

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  55. Exactly, Redwine. It means you've got strong hand status. :)

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  56. SB, Where are you looking for AG?
    Just bought some...

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  57. GLD almost at the 20. Then again, GDX may hit the sell trigger soon, as well.

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  58. What trigger this sale out in both gold and stock? Besides cycle count? Any explanation from the pundits?

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  59. FWIW

    When I was strictly a trader of P.M.'s and looking to buy/add on dips like this (before finding Garys cycles last Aug , I didnt know about waiting for the IT low-I just want to add on weakness..)

    I would look at todays "capitulation' like open on a 3 or 5 day chart using- 5 or 15 minute time frame.

    Usually if the 'SLAM DOWN open' is THE low of the day and bounces and you get a light volume bounce (3 day -5 minute chart ), these high volume Lows at the open can get tested again that day- (could be sellers who wish they sold yesterday bailing out on the bounce up).

    IF that daily high volume low gets tagged on lighter volume...I buy that.
    Something like SVM& AG ..had high vol low first 5 minutes , then went even lower on lighter on nxt 5 minutes..that is good enough as a retest in my book. May go lower, but looks more like sellers drying up. (AG has a gap at 20sma however).

    so SVM (I.M.H.O.)looks like a buy here PIMA C.

    Side note: They CAN break these lows tomorrow on lighter too..if tomorrow bottoms.

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  60. Folks, FWIW I will be coming onto your bus likely EOD today...

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  61. Do you think the sharks are smelling the stops?

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  62. Now I am worried. Too many people buying the dip and feeling very confident about it. I don't like this at all.

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  63. @David Dont go by the sentiment on this board - folks have Gary to guide them. A ton of people are able to buy because they have Gary to hand-hold. Go check some yahoo finance board - that will give you a true picture of sentiment.

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  64. give the sma +- $3 if it holds we should not see sub 1400.

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  65. traderlady,

    My orders on AG and EXK are still quite far from current prices, with AG in the low $15 range and EXK low $8's (they're scattered around those levels)

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  66. I am just in awe, that Gary called the buy trigger for GLD and so far just .05 off the target. Amazing!!!

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  67. traderlady,

    Those 2 might not even get to my levels, and I would be happy to pay current prices IF i was firmly convinced all downside is finished (which I'm not).

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  68. David
    it looks like people are nibbling here and not gorging

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  69. Thx SB...on alittle strength will sell AG

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  70. Poly said...

    "On the positive" - I don't see any negatives. This action is just fantastic.

    Thank you, Poly. I loaded back my futures positions after exiting 8 hours ago. At 35.20, I'm break even.

    Thanks for being here.

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  71. If one has read my previous post , this was with the idea that the p.m. stocks lead the Metals too.

    So looking at Gold and Silver nearing their 20sma (today or tomorrow)- sensing a panic sell-off -I would be adding positions that way.

    My LIFE M.T....

    Its a good size bus, welcome aboard :)

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  72. "it looks like people are nibbling here and not gorging"


    you got the wrong impression. I just double my position but i dont want to be too complacent about it.

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  73. Why are we falling? And really hard? What would you do if you knew PMs were about to fly and you were able to manage the market for a very short period? How do you enter? How do you get out?

    I hope SLW, my fav pops 10% down today, the more stupid the drop, the more likely strong hands are getting in.

    Perfect set-up for a QE3 too...I am already on the hook for this call, so might as well toot at it in fun! :)

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  74. "Now I am worried. Too many people buying the dip and feeling very confident about it. I don't like this at all."- DK

    lol...I'm not too confident that today's the low, I'm just confident I like buying the winners when they're down 15% over a few days, like SVM. Definitely could be more downside, however, but I can handle it with the marks I have.

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  75. Well well well well well. Welcome onboard MLMT

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  76. Gary

    Did you add. Will appreciate it if you can post on Premium site when you do.

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  77. guys, gary has been so right about talking about pulling the trigger and actually doing it real time

    I have lightened my positions at the Monday top quite a bit so I have sufficient dry powder...

    I have been dreaming about a pullback like today

    However in real time can I pull the trigger? No, as I'm think what if SLW, SVM etc goes down another 6% tomorrow?

    Shall I buy, shall I wait???

    Does anyone know what the catalyst is for todays's drop BTW?

    Thanks

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  78. traderlady,

    I'm not selling anything, even if it turns out I didn't time my additions properly.

    As far as what has me concerned, it's that MLMT is on the bus! :)

    just kidding...

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  79. ollie,

    i find it easier to pull the trigger in bits and pieces instead of all at once, FWIW

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  80. Time to break out the piggy bank

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  81. SB,

    I was not talking about you. You usually do add to positions on pullbacks.

    4

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  82. SB, New hotrod being careful...always, like sm starter positions but ready to increase with Gary.

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  83. This is such a heartwarming moment, as MLMT is welcomed into the fold.

    Can Beanie be far behind?

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  84. "However in real time can I pull the trigger? No, "


    Classic noob mistake. By the time the next C wave begins you will not think twice about hammering down the buy button.

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  85. I just pushed all my chips to the center of the table, took a deep breath and leaned back in my chair.

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  86. I think this weakness in precious metals could continue to early May, i wouldnt be too hasty to get on board, any strength will probably preent itself not next week but thereafter beginning around 20th, whether this is sustainable we will see as my seasonal model sees more weakness ahead.

    I have been reminded that "Gary" doesnt think so. But to be fair we are all entitled to our own opinions and whilst i appreciate Gary is very good at what he does we must form our own opinions.

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  87. Glad to have you on board MLMT!

    On a side note, SoS on SPY is huge so far! The bus will be leaving the station soon gents...

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  88. Gary,

    Will you post a portfolio update? Did you add yet?

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  89. Low Tax,

    You can't have SOS on SPY when the market is down. Or am I missing something?

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  90. I'm a buyer here too. If the C-wave is gonna complete, SLW oversold and below its 10DMA is a no-brainer.

    I'm not buying the metals yet. They've been tending to bottom a little later than the miners in this move so far, but who knows.

    Should be good for a relief rally if nothing else.

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  91. And my thoughts are that miners could stay pressured a bit while we wait for metals to correct more on the downside (if they do). The reason I'm comfortable buying miner names like SVM down 8% is simply that even if we did not time it well, the market will likely let us out at these prices or better in the future.

    Good luck, I'm outta here for awhile and will check back in this afternoon.

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  92. See, Hammy says sell you sell. All blogs in PM land will know the Hammy when all is said and done. I'm a premier poster on KITCO. KITCO got it. Not same lame ass google blog like this one and Turds.

    Hammy knows gold, gold knows Hammy. We are one. You don't mess with the Ham or the Hammy will give you the snout. Your cycle garbage is BS. I've written proprietary code that knows what time Blythe Masters takes a dump. Next time you want to attempt to trade gold, better consult with the Hammy.

    Hammy is done here. Hammy has no need for those who frequent low life blogs like this one. Hammy has work to do on KITCO, the land of natural gas penny stock recommendations.

    Hammy has been proven right.

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  93. Added 15% margin in AGQ this morning.
    Thinking of playing the lottery with APR 40 SLVs.

    Very difficult to pull the trigger, but only because I pulled back yesterday morning, only to add most back by EOD as I was too nervous to be out of positions overnight.

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  94. lol @ AMoldyHamsammich
    i guess MLMT is getting a pass today

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  95. Outta all gdx putters NOW.

    silver putters - you all know what they are like.

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  96. OMG, Gary called it on the other nickel side of GLD trigger. LOL

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  97. Hey MLMT,

    That's good news (about you getting on our bus)! Welcome aboard!

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  98. MLMT,

    What's your price target for closing the rest of your shorts AND what's your price target for going long?

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  99. @canyon dude

    Target price is below 1396 (25%) and 1388 (25%).

    For boarding the bus, daily close below 1396 or above 1428.

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  100. Anybody familiar with scottrade?

    I wanted to set a trade trigger today but it seems I can only do it for the stocks I own.

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  101. Nice buying into the pit close:)

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