holding YM shorts here. adding to OIL QM shorts here at 72.20 still expecting dropage soon. holding dollar longs despite adverse move. best, surfer
thanks, WD. yes, that is the 2nd episode. i'll let him know you like it! alex some really good insights and is one heck of a trading programmer. surfer dave
holding euro short/ dollar longs here--- recovered nicely from adverse move. holding oil short my heavy metal friends are considering selling their physical silver here..... surfer <i>[COMMODITY MELT DOWN] Overbought longs jumped ship overnight with NY spec accou... [COMMODITY MELT DOWN] Overbought longs jumped ship overnight with NY spec accounts responsible for battering oil and metal prices down in a massive profit taking rout. Gold is off 5% to $612/oz after posting its biggest one day fall in 6yrs and silver down a whopping 17% (below $12) after posting its largest one day decline in nearly 2 decades. Elsewhere oil futures fell, snapping out of their 3 day record breaking streak. Whilst none of the major drivers of commodity prices have changed in the past 24hrs, commodities look vulnerable as momentum turns bearish for now. We are not ruling out the rout to continue well into Tokyo hours; with some hefty positions likely to have been squeezed, paving the way for forced margin calls and a potential round of Yen buying in coming days.</i>
For not coming to Florida you must suffer his indignation on his time. I promised him I wouldn't spoil it. In regards to your Markets. IMHO, and I will base all of my opinions on the Futures: Gold - Is coming off a $228 rally since its last substantial pull back last Spring. The $36 sell off today is huge but we still will see a Challenge of $649 and a then must Fail to breach that level in order to start feeling any comfort at all about shorting this pig. Silver - Is coming off a $8.40 rally since its last substantial pull back last Spring. The $3 sell off today is huge but we still will see a Challenge of $14.80 and a then must Fail to breach that level in order to start feeling any comfort at all about shorting this one. Crude - Is coming off a $18 rally since its last substantial pull back last Spring. The $1.65 sell off today is large but we still will see a Challenge of $74.50 and a then must Fail to breach that level in order to start feeling any comfort at all about shorting this hog. The YM - Made a New top today taking out the previous top by 13 points. We aren't done going up here until an extreme Oscillation is created here confirming a top to this Market. The Euro FX - Made a New top today further exceeding the previous top by 84 Pips. We aren't done going up here until an extreme Oscillation is created here confirming a top to this Market. The last Bottom is 608 Pips away and not a likely target to be taken out at least until we confirm the current top. Your "Commodity Meltdown" report is reactionary based on profit taking. It's normal. Same thing happened in December and look what happened since then.
ok, prof, thanks for the view. one of us is right, and i'm betting its me. surfer ps. come on, just his initials......
well, it looks like victory was declared a little early---- still holding the oil, DJIA shorts and dollar longs--we have pared the losses in the dollar trade. going walleye fishing this weekend-- see everyone later! surfer