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Jerry M, I would certainly not call you a fool!
Big Al
Yes, thanks. We’ll be watching intently. It doesn’t feel like a really at this point at all, but we’ll see.
over at SILVER SEEK J.P.M.s T.V. APPEARANCE by T BUTLER.
http://www.caseyresearch.com…….click on ED STEERS J.P. MORGAN….DUTCH SILVER…..
I subscribe to level II with my stockbroker, and in the past if I put in a bid just the smalest increment above the bid listed on level II, on a down day, the orders usually were successful.
In the past week or so I have been trying to pick up juniors which have been giving weak technical (or close to) buy signals. The orders are relatively small, 1000 to 5000 shares, but out of 25 +/- orders to buy, not a single order has executed.
Has anyone on this blog noticed a behavioral change in the canadian market? Is high-frequency trading somehow stopping cheapskates like me from being able to buy?
CFS – Are you seeing the orders appear on level II? Some of the Canadian Bank discount brokers will often route the orders to Alpha exchange, especially orders priced under $1. Anytime you do not see the bid/ask volume move after placing a trade this is usually what has happened with these Cdn brokers (assuming your trades do not get held up for review by the broker).
With TD Waterhouse to get around this you have to enter the order with an expiration date of the following day (tomorrow) then cancel the order prior to market close if it goes unfilled.
You can get limited market depth for Alpha orders at http://www.alpha-group.ca/ if you want to watch to see if your orders are being routed there but there is a 5 minute delay.
I can’t agree with Rog. With the conventional market rolling over, it’ll be very tough for gold and the stocks to make a concerted move up. We’ll know by the end of this week if we’re going to move up to any degree since we closed under the 50 week MA this past week. If we don’t close over it this week you can bet that it’ll serve as resistance. I believe gold will move lower over the next few weeks but the good news is it shouldn’t move lower in lock step with a significant move lower in the conventional markets. Gold relatively should perform better but we’ll still be in a trading range.
Conventional markets are getting to oversold levels right now. May see a few more days of just slow bleeding after today, might even just bounce around in a tight range on the low end. Gold is going to probably go through $1700 within the few days because of all the geopolitical tensions that are mounting and the “renewed” problems in Europe. Silver will lag and consolidate about a day or two more, then move towards $34.50. There is TOO MUCH FEAR in the markets right now and the smart money KNOWS ALL TOO WELL that Europe has always been in trouble. I truly believe this will be the time (over the next two weeks) where PMs will separate themselves from the conventional markets.
US dollar isn’t do a thing! With all these problems, I would suspect it to have moved MUCH higher by now…it hasn’t. Too much fear and tension right now…too much fear. I think that the markets may stabilize soon and then we start going higher. Bonds are hot…for now, but that sure won’t last long. Now with the new India / Iran deal made today. China’s real estate market bubble probably has already popped and has a bit more downside but this is ACTUALLY a VERY GOOD thing! China will now be focusing on INTERNAL growth and not so much as exports. Exports bring in the money, while internal growth expands the local economies and enhances ALL people, not just the wealthy. Gold and silver are going to go MUCH, MUCH, MUCH higher from this point forward. I honestly don’t believe you will see $26.50 silver again, nor $1400 gold. Sorry, the fundamentals are so severe now for the PMs as preservations of capital, that the smart money is going to sell. Paper contracts are fine with me, as long as I’m not the one doing the shorting.
Oh yeah, we will see a MASSIVE sell off in the markets but I don’t think that is happening now. Maybe near election or after, but not now. Too much fear.
And that is my two cents worth.
Stay frosty ladies and gentlemen….stay frosty.
Oops. I meant “the smart money is NOT going to sell. sorry about that
At the close, with the Dow moving down big today, I see a lot of positive price moves in pm stocks. This might be a good sign that the pm equities do not require a positive move in the broader market. One day does not make a trend, but this could have been a bloody day in a portfolio laden with pm stocks and it was not.
Richard is correct in his assessment of current gold mild weakness and or rally. This thing looks tepid at best. Watch for big news in the Middle East or from europe and gold could finally make some serious moves. The last half of 2012 promises to be an adventure. I can see so many Black Swans coming they look like a million vultures – Traderrog
Thanks Rog. A voice of hope in a sea of despair. Just saw an old commercial “take tums for the tummy”. Pretty appropriate for those fools like me that watch this minute by minute.
Regards…….