Thursday, September 9, 2010

9/9 Daily Commentary

The stock market is just abc'ing through the I1 top tomorrow.  I'm not going to force a trend when it's not there.  Sold in ARCA the 4% SDS for 31.89 bought at 31.60.
I thank Gary and others for linking my blog to wider forums.  Gary, I have only seen 1 of your posts.  Please post tomorrow so I can know what to look for.
The real focus is on precious metals.  I'm currently 2% DZZ double-short gold.  Started small because I am in before the momentum turns due to the metals' I1 peaking yesterday.
I'm using silver as the set-up for a position short silver because it has more discernible topping characteristics.  Going short based on the 90-min M/A -.7% on 90-minute close or 1% volatility stop.
Currently 1962 and 1956.
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2 comments:

  1. AnonymousSeptember 9, 2010 at 8:23 PM

    Hi Steve,

    I'm one of the people who also visits and posts on Daneric's site. There are at least 6 or 7 of us (Shabs, Gary, me, LivininCali, Pima, Spagbol, etc.) who visit you and Daneric, and presumably gi61et too (no comments postable at gi61et). All 3 of you are usually somewhere in the same ballpark on bearish wavecounts. I wouldn't be suprised at some point if one or more hedge funds don't approach you guys to try and hire you on as consultants...

    Josh

    ReplyDelete
  2. Steve KotelesSeptember 10, 2010 at 6:55 AM

    Hi Josh
    I'll have to hop onto Daneric from time to time. I try to avoid a lot of influences to keep on a straight line.
    I always enjoy your posts.

    ReplyDelete

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