My Life My Trade - Latest Comments

Re: 2013-07-05 Friday Homework

thereavada — Tue, 23 Jul 2013 20:16:06 -0000

Any update on the outlook of Gold and GDX? It looks to me that Gold is going to > 1500 before resuming downtrend. Thanks.

Re: 2013-07-05 Friday Intraday

MLMT — Sat, 06 Jul 2013 00:10:55 -0000

[2013-07-06 00:09] I was wrong to say that TLT bottomed. TLT fell another full $1 by close. Kudos to Josh to say that TLT potential bottom area is 106.2X. For TLT to have bottomed, Monday needs to be gap up trend up for TLT.

Re: 2013-07-05 Friday Intraday

MLMT — Sat, 06 Jul 2013 00:09:07 -0000

[2013-07-06 00:09] I don't know if it is an IT bottom. So far, I will assume that it is not.

Observe how GDX has dealt with each of the "price gaps" it has left so far. We should see it deal differently with the most recent price gap to think that IT bottom is in.

Read on gold/GDX is based on candlestick chart and some basic volume analysis. Tough to get an unbiased read on sentiment. COT reports haven't worked for last 300 point move in GC.

Re: 2013-07-05 Friday Intraday

theravada08 — Fri, 05 Jul 2013 20:00:05 -0000

Spot on! Do you think 6/27 was a valid IT bottom for GDX, or a new low is yet to form in August? Is your reading on gold based on sentiment? Your feedback will be appreciated.

Re: 2013-07-05 Friday Intraday

MLMT — Fri, 05 Jul 2013 10:42:30 -0000

[2013-07-05 10:33] TLT, GDX, GLD bottomed out soon after open. SPX as always the case bottoms out later. Expect the upside (in SPX) to continue into next week.

Re: 2013-07-05 Friday Intraday

MLMT — Fri, 05 Jul 2013 10:34:08 -0000

[2013-07-05 10:33] GDX playing out as indicated in http://screencast.com/t/Jkf... on Wednesday.

Re: Private: 2013-07-01 Monday Intraday

MLMT — Wed, 03 Jul 2013 22:46:16 -0000

[2013-07-03 22:46] Thanks for your kind words.

I haven't looked at gold chart. I did look at GDX charts at EOD today. GDX looks like it wants to pay a visit to mid 22.XX again, pretty soon.

Re: Private: 2013-07-01 Monday Intraday

theravada08 — Wed, 03 Jul 2013 22:33:36 -0000

Hi, care to share your view on gold? I read ur comments on bankster's chatroom and I found them remarkably prescient.

Re: Private: 2013-07-01 Monday Intraday

MLMT — Mon, 01 Jul 2013 12:16:25 -0000

[2013-07-01 12:14] This is shaping up like 2013-02-19 and 2013-06-18. Both give RH SPX top after 2pm and the ES top comes in the night.

Re: 2013-06-28 Friday Intraday

MLMT — Fri, 28 Jun 2013 10:13:21 -0000

[2013-06-28 10:12] Opening candle supports a trend down day. Big gap down open below yesterday's range after a higher high in the night. Attempt to probe into yesterday's range soon after open rejected.

Re: 2013-06-28 Friday Intraday

MLMT — Fri, 28 Jun 2013 09:28:42 -0000

[2013-06-28] Same set up as FED day from last week. One tick higher high in AH and then a gap down. Expecting minimally ESU3 1583 area.

Re: 2013-06-27 Thursday Intraday

MLMT — Thu, 27 Jun 2013 13:18:41 -0000

[2013-06-27 13:18] There is some possibility today may be like 2012-10-05 (in terms of intra-day pattern)

Re: 2013-06-27 Thursday Intraday

MLMT — Thu, 27 Jun 2013 13:15:14 -0000

[2013-06-27 13:15] Somewhere between SPX 1619.5 and 1620 - we have already tagged it. We should get some decent pullback IMO.

Almost everyone is betting on funds buying into EOQ will push the market up.

Ben did a smart thing - he showed hesitation last Wednesday and then everyday since then one or more Fed guys have come up and issued statement that "no tapering in near future"

Re: 2013-06-27 Thursday Intraday

arak — Thu, 27 Jun 2013 12:11:40 -0000

Where is the 50D SMA?

Re: 2013-06-27 Thursday Intraday

MLMT — Thu, 27 Jun 2013 10:44:56 -0000

[2013-06-27 10:43] SPX 50d SMA tagged from underneath. Last time SPX backtested 50d from below was early November 2012. That resulted in a pullback and then a second backtest of 50d and then a bigger dump to form the IT bottom.

Lets see if we get a similar set up here. If we do, then we may top out into July 4th holiday. NFP could be a big downside trigger assuming it is again a beat (given this tapering talk)

Re: 2013-06-27 Thursday Intraday

MLMT — Thu, 27 Jun 2013 08:14:22 -0000

1610 SPX equivalent hit. Shorted 1604 No stop for now.

1604 is also the measured move target.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 15:47:02 -0000

[2013-06-26 15:46] I was away from my desk, but I came back and saw that VST sell triggered at 3:40pm.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 13:24:39 -0000

[2013-06-26 13:24] Stop moved to 1597.75

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 12:19:10 -0000

[2013-06-26 12:17] U-shaped day is off the table. The RH LOD so far is 1588.5 (3 ticks above yesterday RH HOD of 1587.75). 3 possibilities now:

1. We have a balanced day today -- likely go above 1597.75 and come back and close near 1594-1595

2. We chop here and take out LOD later in the day to close the day near low 1580s

3. We keep rallying into close and end the day near HOD.

Tough to say which one wins out right now.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 11:30:52 -0000

[2013-06-26 11:30] A big red candle quite likely here at 11:30am, given how the day has unfolded so far.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 09:56:22 -0000

[2013-06-26 09:55] 1593.75 RH LOD so far means 1594 shorts from before were allowed to get out. Could potentially be more bullish than anticipated. Stop does the talking as always.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 09:45:13 -0000

[2013-06-26 09:45] Above SPX 1603-1604 area, the next level is 1610 SPX.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 09:44:43 -0000

[2013-06-26 09:44]

Expecting either a trend down day OR a U-shaped day. If latter, we get a big gap down tomorrow.

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 09:35:02 -0000

[2013-06-26 09:34]

Short 1597.25 Stop 1604.25

Re: 2013-06-26 Wednesday Intraday

MLMT — Wed, 26 Jun 2013 09:24:17 -0000

[2013-06-26 09:24]

Expecting a very sharp down move into Friday and then more doom early next week for a potential IT bottom by Jul 2.