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Tuesday, March 27, 2012

Gold - Important Time Approaching

Gold bounced up from the orange fork, and is now finding some resistance.  Gold may be quite volatile in the short run as it consolidates between support and resistance. 

The yellow time cycle comes due on April 10th.  Gold may test the green supports around that time.

Patience is the key as it will be exciting for Gold from that point onwards.  

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24 comments:

  1. change.in.trend@gmail.comMarch 27, 2012 at 9:33 PM

    Your timing on gold is not correct. We may see a low in GLD as early as Friday.

    http://change-in-trend.blogspot.com/

    ReplyDelete
  2. StockboomMarch 28, 2012 at 8:51 AM

    I think all HVU holders must be feeling good last two days....

    Looks like it will reach SC's target of 7.50 by friday if it continues pace of run.

    Cheers

    ReplyDelete
  3. sun_shineMarch 28, 2012 at 9:04 AM

    Looks like SPX is in free fall already. SC, where do you think this will land by Friday. It seems window dressing is done and a slow decline has started. Could this bounce off to make new highs or continue the downword trend.

    Thanks

    ReplyDelete
    Replies
    1. SCMarch 28, 2012 at 9:36 AM

      We're right at my orange support for SPX at 1401. I'm going to watch and see how it act here. Perhaps sideways for a few days, then break lower.

      Delete
  4. AMMarch 28, 2012 at 9:22 AM

    SC, where is your fear trade in gold?

    ReplyDelete
    Replies
    1. StockboomMarch 28, 2012 at 9:25 AM

      Are you always looking for reason to come here and bash SC?

      Look at the bigger picture, SC said he is not a day trader...period.

      If you come on this board to look for your one hour and daily trading leads, then you are wasting your time...

      Cheers...

      Delete
    2. SCMarch 28, 2012 at 9:41 AM

      I do make shorter term trades as well, but from the point of view of the site the focus is to outline generally moderate to larger trends in the market.

      Delete
    3. SCMarch 28, 2012 at 9:44 AM

      I also put colour on short term trends or daily action within the comments.

      Delete
    4. SS76March 28, 2012 at 9:47 AM

      problem is even with the nice move on HVU, the high could be under $5 when you called for $7.50 short term. That is a 30% difference and quite significant in keeping a strictly short term view.

      Delete
    5. AMMarch 28, 2012 at 10:42 AM

      im not bashing, im just saying where markets go - metals go. we correct and move higher. bears did not learn anything again.

      Delete
    6. SS76March 28, 2012 at 10:45 AM

      AM, where do you think the market corrects to? You think 1387 is a good spot before a move higher?

      Delete
    7. AMMarch 28, 2012 at 10:55 AM

      i have no clue and im staying out of this until dust settles. This chop is "designed" to take your money away.

      Delete
    8. SS76March 28, 2012 at 11:14 AM

      Ok. I shorted Silver at $33 so thinking to hold my short until $31 - $31.25

      Delete
  5. SS76March 28, 2012 at 9:36 AM

    1404 is key. Close above this, and short term SPX will make new highs. Close below this, and the negativity will take it down to the 20 MA at 1387 likely.

    SC, what you think is the bottom for Silver on this leg? My analysis is pointing to $31.02

    ReplyDelete
  6. SCMarch 28, 2012 at 9:48 AM

    My thinking is that Gold puts in a higher low next few days, and bounces again but then a slight lower low around April 10th.

    SS, for Silver that level may be about right next few days, then bounce again, but lower low around the 10th again.

    ReplyDelete
    Replies
    1. SCMarch 28, 2012 at 10:06 AM

      No, I think we need to wait for around the 10th the confirm a low, then bounce to $38 is the next phase.

      Delete
  7. SS76March 28, 2012 at 10:55 AM

    is there a 2x inverse to the VIX. XIV is not 2 times, wondering if there is....

    ReplyDelete
    Replies
    1. SCMarch 28, 2012 at 2:18 PM

      Not to my knowledge. Though one could build a synthetic equivalent position using margin for example. I think the reason they don't have them is that the VIX spikes fast and it would be extremely volatile.

      Delete
  8. SantaMarch 28, 2012 at 2:28 PM

    Hi SC

    Wondering if you may have a target for end of the week for HVU this week that you can forecast?


    Thanks!

    ReplyDelete
    Replies
    1. SCMarch 28, 2012 at 2:38 PM

      Yes, I do expect a higher high for it. Let me calculate that.

      The VIX is just warming up. We haven't even hit any of the negative April cycles yet. It'll be choppy. I have a plan...

      Delete
  9. RichardMarch 28, 2012 at 4:26 PM

    Are you still expecting tomorrow to be positive for SPX and/or negative for HVU?

    ReplyDelete
    Replies
    1. RichardMarch 28, 2012 at 5:15 PM

      When do you expect $26-28 UVXY? Have your target dates and prices been revised at all?

      Delete
    2. SCMarch 28, 2012 at 7:19 PM

      A set of updates are coming with specifics. April will be very volatile (and a lot of fun)....

      Delete
  10. beetlejuiceMarch 28, 2012 at 8:07 PM

    This has now become the scariest chart I can ever remember.

    The MACD has blown past the Moon and is well on its way to Pluto, however there is no negative divergence so will AAPL continue up in price and divergence begin to emerge?
    http://stockcharts.com/h-sc/ui?s=AAPL&p=W&b=5&g=0&id=p28388890776

    ReplyDelete

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