tag:blogger.com,1999:blog-7130708113832839690.post6210450459582929938..comments2023-10-29T02:04:09.499-07:00Comments on Smart Money Tracker: Portfolio changeGaryhttp://www.blogger.com/profile/14556370683669428668noreply@blogger.comBlogger545125tag:blogger.com,1999:blog-7130708113832839690.post-20442477047260746472011-05-23T17:03:34.174-07:002011-05-23T17:03:34.174-07:00Is A Healthy Correction Overdue in Gold And Silver...Is A Healthy Correction Overdue in Gold And Silver?<br />Commodities / Gold and Silver 2011<br />May 03, 2011 - 07:21 AM<br />By: Jeb_Handwerger<br /><br /> When one begins trading it is important to realize that it is like any other business and your goods are your stocks. There is a basic rule that one must learn and never forget when buying and selling merchandise. You must be prepared to accumulate your products when there is a panic and sell them when there is euphoria. One has to sell when the product is in demand and the investment public becomes aggressive and buy when it is out of favor and the public shows little to no interest. In August of 2010 and January of 2011 precious metals both gold and silver presented excellent buying opportunities.<br /><br /><br /> <br /><br /><br /><br /> Please note as silver surpasses our late January target and continues its parabolic move since our buy signal, that my goal is to make significant profits and not get greedy for the extra 5-10%. Do not get me wrong. I believe silver and gold’s long term trend could push gold to $3000 and silver to $100 by 2013, but I am welcoming a short term healthy correction of at least 20% in silver before I will consider buying again. I will wait for pullbacks and not chase silver at these elevated levels. The key to selling correctly is buying at the right time when the commodity is oversold and out of favor. Parabolic moves end with significant corrections and I would like to see a healthy pullback. This current blow off move means that a correction could be quite painful for the investor who has overextended themselves accumulating at euphoric levels. A healthy correction will improve the chance of an orderly and healthy uptrend and provide my readers with a secondary buypoint.<br /><br /> My basic objective of this service is to help readers secure profits and realized gains. You must sell and take partial profits as targets are reached. Selling at overhead resistance or while it is still advancing is reminiscent of the great investors such as the Rothschild’s and Bernard Baruch who stated that no one gets the top or bottom. The goal is catching the majority of the move.<br /><br /> Once my technical targets begin getting hit, I begin to reduce my exposure as the price continues to advance past that target. One has to remember that the reason we are in this position of sitting with hefty gains is because we bought right in late January as gold and silver were oversold and reaching long term support. Now in late April three months later silver has reversed reaching overhead resistance and gold is still in the process of reaching the $1600 target. I would use gold’s upper resistance line as a more valid place to look for profit taking opportunities on both metals. <br /><br /> It is important to learn to sell when others are too optimistic and buy when others are scared to death. Silver (SLV) is close to 70% above the 200 day moving average, moving parabolically and surpassing overhead resistance, while gold (GLD) is only 12% above the 200 day moving average. This is extremely divergent from the historical mean. We may see silver stalling while gold plays catch up. We are in a buying hysteria and short squeeze in silver. During these times it has historically been wise to sell into euphoria. When the herd begins exiting it may be painful...the pigs wanting the top may get slaughtered.burtonhttps://www.blogger.com/profile/01117680532388907389noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-57580621134522022832011-05-23T16:21:02.660-07:002011-05-23T16:21:02.660-07:00ok, ok...ok, ok...burtonhttps://www.blogger.com/profile/01117680532388907389noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-54715549687472513112011-05-23T16:15:35.253-07:002011-05-23T16:15:35.253-07:00Gary,
The only thing I've ever disagreed with ...Gary,<br />The only thing I've ever disagreed with you on is the timing of QE3, I honestly think that politically they can not afford not to push more liquidity. The gov't needs to continue Social Security, Medicare, Unemployment, ect.Anonymoushttps://www.blogger.com/profile/00486534305812171636noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-12252440024032951632011-05-23T15:54:19.277-07:002011-05-23T15:54:19.277-07:00THIS IS WISELY written
Is A Healthy Correction O...THIS IS WISELY written<br /><br /><br />Is A Healthy Correction Overdue in Gold And Silver?<br />Commodities / Gold and Silver 2011<br />May 03, 2011 - 07:21 AM<br />By: Jeb_Handwerger<br /><br /> When one begins trading it is important to realize that it is like any other business and your goods are your stocks. There is a basic rule that one must learn and never forget when buying and selling merchandise. You must be prepared to accumulate your products when there is a panic and sell them when there is euphoria. One has to sell when the product is in demand and the investment public becomes aggressive and buy when it is out of favor and the public shows little to no interest. In August of 2010 and January of 2011 precious metals both gold and silver presented excellent buying opportunities.<br /> Please note as silver surpasses our late January target and continues its parabolic move since our buy signal, that my goal is to make significant profits and not get greedy for the extra 5-10%. Do not get me wrong. I believe silver and gold’s long term trend could push gold to $3000 and silver to $100 by 2013, but I am welcoming a short term healthy correction of at least 20% in silver before I will consider buying again. I will wait for pullbacks and not chase silver at these elevated levels. The key to selling correctly is buying at the right time when the commodity is oversold and out of favor. Parabolic moves end with significant corrections and I would like to see a healthy pullback. This current blow off move means that a correction could be quite painful for the investor who has overextended themselves accumulating at euphoric levels. A healthy correction will improve the chance of an orderly and healthy uptrend and provide my readers with a secondary buypoint.<br /><br /> My basic objective of this service is to help readers secure profits and realized gains. You must sell and take partial profits as targets are reached. Selling at overhead resistance or while it is still advancing is reminiscent of the great investors such as the Rothschild’s and Bernard Baruch who stated that no one gets the top or bottom. The goal is catching the majority of the move.<br /><br /> Once my technical targets begin getting hit, I begin to reduce my exposure as the price continues to advance past that target. One has to remember that the reason we are in this position of sitting with hefty gains is because we bought right in late January as gold and silver were oversold and reaching long term support. Now in late April three months later silver has reversed reaching overhead resistance and gold is still in the process of reaching the $1600 target. I would use gold’s upper resistance line as a more valid place to look for profit taking opportunities on both metals. <br /><br /> It is important to learn to sell when others are too optimistic and buy when others are scared to death. Silver (SLV) is close to 70% above the 200 day moving average, moving parabolically and surpassing overhead resistance, while gold (GLD) is only 12% above the 200 day moving average. This is extremely divergent from the historical mean. We may see silver stalling while gold plays catch up. We are in a buying hysteria and short squeeze in silver. During these times it has historically been wise to sell into euphoria. When the herd begins exiting it may be painful...the pigs wanting the top may get slaughtered.burtonhttps://www.blogger.com/profile/01117680532388907389noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-38067776920701850552011-05-23T15:32:19.389-07:002011-05-23T15:32:19.389-07:00<><>burtonhttps://www.blogger.com/profile/01117680532388907389noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-13698386128075834632011-05-23T06:40:42.867-07:002011-05-23T06:40:42.867-07:00Gold and dollar strength in tandem often happens (...Gold and dollar strength in tandem often happens (at this time last year for instance) although dollar weakness with gold strenght are the most common. However, dollar strength together with strong equities almost never happens. A $ rally almost invariably implies a Sp500 dip. Therefore, when it was clear that the $ broke up from the bullflag on friday, an alternative would have been to exit any Spy longs before the close.trond56https://www.blogger.com/profile/16626293818963423153noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-15406710675401117132011-05-23T04:50:48.507-07:002011-05-23T04:50:48.507-07:00Usher in credit cards backed by gold bullion
FLOR...Usher in credit cards backed by gold bullion<br /><br />FLORIDA, USA (Commodity Online):A new breed of credit cards backed by gold bullion is soon to become a reality in USA. Sweeping changes in credit card industry is set benefit not only consumers, but gold bugs too, who'll be able for first time to charge purchases against 'liquid gold.'<br /><br />In particular, Public Law 111-24, the Credit Card Accountability Responsibility and Disclosure Act of 2009 whose major provisions are effective February 2010, provides new legislation pertaining to credit cards which will make them not only easier to understand, but offer a "golden opportunity" for those who want to have a new credit card backed by gold, rather than dollars. <br /><br />More here: http://preview.tinyurl.com/ycobpd7<br /><br />Le FouLe Fouhttps://www.blogger.com/profile/08417796902511410002noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-74385245904207195062011-05-23T04:37:46.910-07:002011-05-23T04:37:46.910-07:00LOL - Utah has a big idea!
"The idea is simp...LOL - Utah has a big idea!<br /><br />"The idea is simple: Store your gold and silver coins in a vault, and Franco issues a debit-like card to make purchases backed by your holdings."<br /><br />Give them your gold, and they'll give you a credit card! Hmmm. Where have I heard that before?<br /><br />Le FouLe Fouhttps://www.blogger.com/profile/08417796902511410002noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-16693146224578150612011-05-23T03:17:29.799-07:002011-05-23T03:17:29.799-07:00This comment has been removed by the author.aaronpalanghttps://www.blogger.com/profile/02902362323725298633noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-23576289510157777792011-05-23T02:37:36.534-07:002011-05-23T02:37:36.534-07:00Not sure how much Utah, a state with a poplation o...Not sure how much Utah, a state with a poplation of ~2.7 million (34th in the USA), will move the needle of gold and silver prices but should this move to a gold standard catch on and become a trend in other states I suppose the effect could be significant given America is the wealthiest nation on the planet.<br /><br />http://www.msnbc.msn.com/id/43128094Likesmoneyhttps://www.blogger.com/profile/06084998877231369922noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-75691842593999111412011-05-23T02:24:39.087-07:002011-05-23T02:24:39.087-07:00..23t870https://www.blogger.com/profile/17393810804307624351noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-1414794258457408022011-05-23T00:53:40.122-07:002011-05-23T00:53:40.122-07:00Did Beanie somehow manage to hack into every one o...Did Beanie somehow manage to hack into every one of Gary's pages to make him appear more bullish on stocks? (just kidding)JRealityhttps://www.blogger.com/profile/11457037908790198417noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-66426158706455786362011-05-22T22:05:46.952-07:002011-05-22T22:05:46.952-07:00Look forward to adding gld soon....but 25th is opt...Look forward to adding gld soon....but 25th is options expiration....we may get shenanigans or we may not... Just FYI allBeksachihttps://www.blogger.com/profile/17903104111695199582noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-15339730175318580272011-05-22T22:01:10.080-07:002011-05-22T22:01:10.080-07:00Great free trading resource link provided Zero Hed...Great free trading resource link provided Zero Hedge, with 100s of linked PDFs<br /><br />http://www.traders-library.com/MarkMarinhttps://www.blogger.com/profile/10437033231255873936noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-43071765267910312332011-05-22T20:15:35.681-07:002011-05-22T20:15:35.681-07:00Time for me to hit the sack early tonight. Driving...Time for me to hit the sack early tonight. Driving 8 hours and lifting in a competition will do that :)Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-71724879892335468132011-05-22T20:11:33.189-07:002011-05-22T20:11:33.189-07:00I would need to see enough of a rally to convince ...I would need to see enough of a rally to convince me the daily cycle low has been made. <br /><br />A 1-3 day rally isn't enough. The only time I can recall a daily cycle rallying only 3 days before rolling over is during the crash in the fall of 08. I don't think we are even close to a crash type scenario.<br /><br />I think central banks will continue to monetize debt, including Greek debt. The contagion isn't going to come from that direction twice in my opinion.<br /><br />I think the trouble this time will come as an unintended consequence of monetizing sovereign debt. In my mind that has to be surging commodity inflation and that is exactly what we have seen for the last two years. <br /><br />I think it has to get really out of control though which is what has got me wondering if the dollar's three year cycle low won't be stretched out to the fall.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-32678884161784439842011-05-22T20:03:45.921-07:002011-05-22T20:03:45.921-07:00Gary, if a new daily cycle was confirmed during th...Gary, if a new daily cycle was confirmed during the week by a rise in the S&P to break the down trend line (drawn from 2 May to 10 May), would you then consider a subsequent breach of S&P 1318 to be indicative of a return of the bear?head scratcherhttps://www.blogger.com/profile/04538631797389460806noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-84469806446287620382011-05-22T20:02:27.419-07:002011-05-22T20:02:27.419-07:00It seems fairly obvious that once the Greek can is...It seems fairly obvious that once the Greek can is again kicked down the road global markets will find their daily cycle low.<br /><br />My best guess is if not tomorrow then probably Tuesday.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-71705177173822164752011-05-22T20:01:19.347-07:002011-05-22T20:01:19.347-07:00Thanks Gary.Thanks Gary.Ryanhttps://www.blogger.com/profile/09040791341895771104noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-44165794747351461082011-05-22T19:56:38.445-07:002011-05-22T19:56:38.445-07:00Ryan,
Yes the gold stop is official. That cycle lo...Ryan,<br />Yes the gold stop is official. That cycle low is clear.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-35478745499498227702011-05-22T19:56:09.346-07:002011-05-22T19:56:09.346-07:00EricH,
There is nothing that says the market has t...EricH,<br />There is nothing that says the market has to trade inversely to the dollar. I think it ultimately will but they can trade in tandem for some time before reverting. <br /><br />Look at gold. It should have dropped Friday.<br /><br />At this point QE2 is still operating. The dollar isn't rallying because of deflation yet. It's rallying because sentiment reached extremes and traders are selling the Euro. But there are still plenty of dollars out there. That could continue to support the stock market and gold until the end of June and maybe even beyond.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-70340970889806694652011-05-22T19:49:58.340-07:002011-05-22T19:49:58.340-07:00Rob L,
Thanks, I'm still a little gun shy afte...Rob L,<br />Thanks, I'm still a little gun shy after the blood shed of the 2X with AGQ/HZU so I want to just stick to non-leveraged for now. (Saving the 2X for the A wave). CGL looks like it's tracking GLD pretty well. I think I'll go with that unless the volume is really anemic.Ryanhttps://www.blogger.com/profile/09040791341895771104noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-50180502337539879962011-05-22T19:48:15.836-07:002011-05-22T19:48:15.836-07:00Greece has less than 2 months of cash left. The no...Greece has less than 2 months of cash left. The noose is tightening... http://www.zerohedge.com/article/greece-has-less-two-month-cash-left-insolvent-ecb-sees-widening-rift-germanyhead scratcherhttps://www.blogger.com/profile/04538631797389460806noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-14240201933778520762011-05-22T19:47:04.866-07:002011-05-22T19:47:04.866-07:00Isn't it normal to see the overnight global ma...Isn't it normal to see the overnight global market a sea of red only to have NY open up and then go off with a bang?<br /><br />NY is the leading indicator in my mind. THis weakness is carryover from NY from Friday and of course the dollar strength.<br /><br />THe Bollinger Band top for USD is right at 76, which it's smashing its head on now. Hopefully even if we do get a break above 76 it is short lived and not too far further.Rod (RJ)https://www.blogger.com/profile/11016831162465036673noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-67472733162568849452011-05-22T19:44:55.446-07:002011-05-22T19:44:55.446-07:00"Folks, there is still a possibility that the..."Folks, there is still a possibility that the dollar's three year cycle low will come this fall.."<br /><br />Okay, if that's the case then the best risk and reward should be in the gold market with a stop below 1460?EricHhttps://www.blogger.com/profile/02832130458145600140noreply@blogger.com