RM's occasional market calls...

I should have mentioned earlier, but the ZSL is making a dragon pattern (for those who doesn't know, I have a thread on it).

The height was about 4 points and the Failure happened (daily chart I am talking about) at the SMA 9 line around 13.8, so the predicted 3rd bottom is 13.8-4 = 9.8

Currently 11.24, so if it goes another 50 cent lower or more you can try another silver short/ZSL long....

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Quote from Pekelo:

so the predicted 3rd bottom is 13.8-4 = 9.8

Currently 11.24,
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10.65ish, getting there.... :)

Now that 9.8 isn't written in gold, I mean in silver, so it could be a +/- 50 cents range....
 
Quote from retaildaytrader:

First, I think silver will be retreating to at least $17 and you covered way too early or sold out of the inverse etf too early. Either way...

I say Silver will return where it came from and SLV will trade at 17. Remember March 2008 when Silver all of a sudden dumped down. That is what we are looking at now.
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Nice call there, champ. :D
 
I will be surprised if RM is not shorting anything and everything into this crazy tax cut deal mania. I sure am (though not silver nor gold).


EDIT: Should be shorting gold too. After all, see who's on the other side...

Jim Cramer
GOLD
12/7/2010 4:23 AM EST

I would be buying gold in anticipation of the buying here being done in the GLD by those who think this budget deal is wildly inflationary....
 
Quote from Pekelo:

10.65ish, getting there.... :)

Now that 9.8 isn't written in gold, I mean in silver, so it could be a +/- 50 cents range....
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I only have delayed quotes for ZSL but we are around 10.25 so we already reached the predicted target zone.

RM, you can start to build your silver short position. (long ZSL)
 
*This post does NOT count as a market call, since I didn't call out my entry points, nor will I call out my exit points. The following is an 'off the scoreboard' post.*

Actually, I'm positioned the other way- LONG- both in stocks (BGU) and silver (AGQ), which has been working fine so far. I didn't call out my entry points because I wasn't as confident (or as sized up) as the previous trades that appear on this thread. To those of you looking to short metals or stocks right here, just FYI I don't think that's such a good idea. (I could always be wrong, though.)

SPY: $123.37
SLV: $29.48
 
Quote from moo:

I am surprised! But it's fine, you are allowed other trades than these public calls. :D
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I'd much rather post 15 successful calls in a row here with no losers, than post 75 winners and 25 losers.

The latter might be more helpful/profitable for those who act on my calls, but the former leaves a more impressive public record IMO, and is much less work for me to do (less stress too). That's how I see it anyways. Trade on...
 
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