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edgetraderplus

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  • Gold And Silver - When Fundamentals Fail And Charts Prevail [View instapost]
    I am not aware of who specifically is responsible for the number
    of paper contract sales, although it has been alleged to be a large, well-known Wall St participant. It is Wall St, not the gov't that is
    behind the suppression on PM prices.

    Given how "dirty" Wall St/gov't/central bankers are in how they
    operate, no one on the outside will know for certain. Forex trading
    may also play a role, by virtue of the fact that money can be made,
    and that is all that matters to Wall St.

    Thank you for the comment.
    Nov 18 10:38 AM | Likes Like |Link to Comment
  • Gold - Talk Of A Bubble Is Nonsense. A Market Not To Be Denied. [View instapost]
    Sunday 24 January 2012

    No one can guarantee anything in any market. That is your first red flag. Do a simple google search, and there is scant information on the name, another red flag. Enter the url and there does not appear to be any web site.

    Need more be said?
    Jun 24 11:26 AM | Likes Like |Link to Comment
  • Silver - A Healthy Correction Underway. Firesale Prices For Buying Physical. [View instapost]
    Monday 16 May 2011

    Not an accountant or CPA, and everyone handles tax situations
    differently.
    May 16 08:02 AM | Likes Like |Link to Comment
  • When Gold Correction Ends, Uptrend Should Remain Intact [View article]
    Sunday 19 December 2010

    Just read this author's previous "article" on the S&P. After reading
    this one, I better understand why there have been 1,400 of them "written."

    When the rain stops, the sun will likely come out again.
    Dec 19 11:27 PM | 1 Like Like |Link to Comment
  • S&P Shows Bullish Bias, But Breadth Is Deteriorating [View article]
    Sunday 19 December 2010

    Let's see, a general observation followed by someone else's work, and then a different general observation followed by someone else's work.

    And the point is?

    Anyone can make generalizations, and say nothing.
    Dec 19 11:21 PM | Likes Like |Link to Comment
  • Gold and Silver: Time to Take Profits? [View article]
    Wednesday 15 December 2010

    Sound advice...depends on why one bought. as an add-on, anyone
    holding physical gold/silver has little to gain by selling and trying to
    buy back lower.

    Futures traders are more at the mercy of margin calls.

    Not to quibble, but trendlines have too much emphasis and are
    broken regularly...most simply "redraw" what was thought to be
    "support."

    More important are horizontal lines drawn from previous lows as
    support, previous highs as resistance. They provide a higher
    level of knowledge. In gold, there was support on 8 December at
    1372, and again on the 10th. The market is telling us buyers
    defended this level twice. It is more definitive than a trendline.
    It is also minor, compared to the more prominent swing low at
    the 1320 - 1325 area, and these are areas, not absolute numbers.

    Price may hold just above or just below and still respect the area.

    Cheers!
    Dec 15 01:35 PM | 1 Like Like |Link to Comment
  • Stocks Approaching Major Long-Term Resistance. Is a Reversal Imminent? [View article]
    Tuesday 26 October 2010

    No one has a clue as to When price will reverse, nor does anyone know How a reversal will develop. The daily and intra day charts are in an up trend. The weekly is in a broader trading range. It usually takes time to reverse a trend.

    Another consideration is that it will take time for the distribution phase of selling stocks to develop. Rather than see an imminent collapse, given the sense of urgency the Fed and politics are devoting to propping this market up, there would be an extended trading range going into year end, but hell, what do I know about the When and How?

    What I do know for certain is that it is best to Follow the market's lead, as opposed to getting in front and hoping it catches up to one's ego.
    Oct 26 08:25 AM | 2 Likes Like |Link to Comment
  • The Only Reason Stocks Have Rallied This Month [View article]
    Wednesday 29 September 2010

    The Frog Story...

    Put a frog into a pot of boiling water, and it will jump out immediately from the shock of the hot water. Put a frog into a pot of tepid water, and gradually turn up the heat, the frog will adjust to the change in temperature and boil to death.

    The US is in the boiling stage, but few can recognize it due to their rationalization of the gradual sovietization of this country. On purpose the private corporation known as the Federal Reserve is destroying the currency, its single-minded purpose since its was "created" on 23 December 1913. If you do not want to question why this "legislation" was passed two days before Christmas, when most of the opposition was home on holiday, then just wait for the results to play out.

    Why is the Fed printing so much fiat? What will happen when the rest of the world says enough?! ...and it is already beginning to happen. Who owns the Fed? The New World Order is in the final stages of destroying the US, bringing it to its economic knees, decapitating the head of Liberty in the process, creating the financial crises looming in the not-so-distant-future, and replacing the dead Republic with its own United Nations-led NWO.

    Invest in paper assets? Trust a corporate government that has betrayed its people?. Who got all the bailout money, the banks, [a necessary part of the NWO system], or the people? How many from the banking industry and Wall Street face jail for the on-going financial fraud?

    The government tells you one thing, an ounce of gold tells you another. Rationalize away all one wants. Before doing so, look up the definition for cognitive dissonance.

    "Truth? You can't handle the truth!" Jack Nicholson, "A Few Good Men."
    Sep 29 11:50 AM | 1 Like Like |Link to Comment
  • My Weekly Market Forecast [View article]
    Tuesday 28 September 2010

    One can never underestimate the POMO effect since last summer's
    Fed fed rally. The caveat in calling for a large reversal of fortune in the stock market, a bear mantra that has been wearing thin, is that
    with price breaking upside out of the trading range since this past May, there is a point and figure count that allows for upside potential above 1,300 S&P, on a conservative count, to as high as 1,500 on an aggressive count.

    One needs to understand that point and figure represents potential only, but that it is that great is worth consideration. As always, one needs to trade what one sees, not what one thinks.
    Sep 28 08:11 AM | Likes Like |Link to Comment
  • My Weekly Market Forecast: September 20 [View article]
    Tuesday 21 September 2010

    The April support of the 1171 area, once broken led to a large decline. The last failed high, after the April support was broken, was the 1160 area. Both should offer resistance.

    Have to see how the market approaches either area to know if resistance will hold, IF price can rally that high. Never underestimate the POMO effect.
    Sep 21 08:57 AM | Likes Like |Link to Comment
  • Weekly Market Forecast: Re-Testing 1040 Before Heading Downward? [View article]
    Monday 30 August 2010

    One consideration absent is the view that the market is in a broad trading range, late May to date, with 1125+ the upper range and 1035 area on the low side.

    Strong volume entered the market both on Wednesday's and Friday's upside rallies. Friday even formed an OKR. The level of knowledge is least whenever a market is in a trading range. What we have learned is that the 1035+/- area is strong support, and the 1125 - 1130 area is strong resistance.

    This sideways movement continues to build with the likely outcome being a break under support, and eventually taking out the Mar 2009 lows. In the interim, depending upon how Friday's strong rally gets retested, should it hold, price could get back above 1100, and a retest of the 1125-1130 area would be great.

    For now, the focus is on how well, or not, last week's rally fares.
    Aug 30 11:10 AM | 2 Likes Like |Link to Comment
  • Deflation vs. Inflation [View article]
    Friday 13 August 2010

    Using proverbial "figures [numbers]" only, they can be manipulated to give cause to most any "relative" or "comparative" "argument.

    What is not accounted for is the unbridled printing of funds by the Fed to support the banking industry, feeding off itself and totally disconnected from the public sector. What is not taken into consideration is the socializing of businesses in this country and the pure manipulation of the stock market by the government, via Permanent Open Market Operations, POMO, among a growing list of so many examples that it becomes an effort in futility to know what matters any more.

    The best litmus test, the price of gold...and even that market has been kept suppressed as the NWO scrambles to cover up its ASSets...
    Aug 13 12:04 PM | Likes Like |Link to Comment
  • Is Gold Crash Proof This Time? [View article]
    Wednesday 11 August 2010

    Call me myopic, but the only trend I see in gold, from a quarterly chart to a weekly, is an up trend. One could argue a trading range on a daily, but not a down trend.

    Intuitively, when the market crashes, gold will be the safest haven for smart money; certainly not anything made of paper...coming from one who is not a "Gold Bug."

    Silver is becoming scarcer than gold, and could very well outperform the yellow metal.
    Aug 11 09:28 AM | 5 Likes Like |Link to Comment
  • Next Leg Down Could Begin Shortly [View article]
    Monday 9 August 2010

    A reasonable analysis that allows for yet more upside, defined in a larger bearish context, and that equals requisite flexibility. The most important consideration is always the trend, and defining it in context of the time frame under consideration.

    For the first time since the march 2009 low, the weekly chart has recently broken a string of successivley higher swing lows, a sign of market direction. What is most interesting about the breaking of the February swing low was HOW the it was broken...decisively, with wider range bars down and on increased volume.

    Since the 5 July weekly low, note how the last three week's ranges have narrowed...a lack of buying strength, and volume has diminished, confirming less buyer interest as price rallied.

    Could price continue higher? Absolutely, and allowance in Mr Summer's analysis states as much. The issue is watching the character of any rally, and if it can sustain itself.

    On a daily time frame, from the mid-June 1129.50 high, price declined to the July 1002.75 low in 11 trading days. Since that low, it has taken 24 days in this recovery rally. What the market information is saying is that the current rally is much more labored in time.

    The recovery rally from Friday was on increased volume, and the close was above the half-way point of the range, and that is about the only technical factor that would allow for a probe above recent 1125 resistance.

    It is also apparent, from the daily chart, that the thrusts up are getting shorter, making less upward progress. These observations derived from market activity are not signs of strength.

    Let the market lead, rather than trying to "predict" what it may do, and then follow that lead.
    Aug 9 10:13 AM | 2 Likes Like |Link to Comment
  • Here Comes the House of Cards [View article]
    Friday 30 July 2010

    The self-imposed mea culpa seems a bit preachy. There are few that I know of in the business of trading who are not willing to acknowledge being wrong. Everyone has an extended loser, from time to time, when the admission of throwing in the hat was a bit late. It happens.

    Those who succeed the most have discipline and rules, and as long as the rules are respected, there is no need to make excuses for switching one's opinion. Change is not just healthy, it is requisite.

    No one knows the future or how any move will develop. It is the addition of new information, in the form of developing market activity, that dictates how to respond to the market, by either keeping a steady course or making the necessary adjustments.

    Why be apologetic for doing what needs to be done?

    Cheers...
    Jul 30 08:18 AM | Likes Like |Link to Comment
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