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Okay James, you wanted a position? Here it is.

Big Al
December 4, 2014

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Discussion
27 Comments
    Dec 04, 2014 04:32 AM

    Long time listener, but I seldom comment. For the life of me I don’t understand people that accuse traders of flip flopping. Trading is about odds. Always has been always will be… At least until someone finds a working crystal ball. If I see a trade I think has better than 50/50 odds I bet on it. If the situation changes, I hedge if I can or get out. Gary is one of my favorites to follow precisely because he is fluid and keeps an eye out for any changes or danger to his trades. Any trader that doesn’t won’t be trading for long.

      Dec 04, 2014 04:45 AM

      I personally agree with you Matt.

    Dec 04, 2014 04:35 AM

    Gary,

    I think what James is saying is stop second guessing yourself. You were bang on and we do have a ICL. Just be confident in what you preach. Im totally with you on this.

    Like I said two days ago I pulled put my charts and liked what I saw. Bullish patterns. I believe we move up towards Feb/March with obvious volatility. Your top in us dollar looks to have completed today.

    cheers and thanks for your hard work.

      Dec 04, 2014 04:03 AM

      There’s no doubt in my mind that we have the natural intermediate bottom, but I always watch for signs of manipulation that may force the intermediate decline to extend.

    Dec 04, 2014 04:36 AM

    US dollar is down and could be topping, but gold is not reacting. I would have thought that gold would have been trying to break thru resistance at 1215. The miners are not winning any friends today either.

    Dec 04, 2014 04:49 AM

    Gary is the most plain English, black & white, tell you what his view is, financial guru that I have read or listened to online.

    Gary calls it like he says it and says it like it is.

    Dec 04, 2014 04:19 AM

    I think Gary has the best approach for a Trader, all the options are always open, but he has a clear view of the situation and how to move his positions in this situation

    Dec 04, 2014 04:31 AM

    At least for the past few weeks…for what I feel… the 8AM boys have been manipulated gold up more than down..

    Dec 04, 2014 04:31 AM

    An easy way to resolve this issue is to put on a straddle on mining stock options, right? BTW, the ‘powers that be’ dumped on the miners recently, so this agonizing might be old hat by now.

    hal
    Dec 04, 2014 04:33 AM

    I agree with Matt;
    I used to have a trader in the office next to mine–15 years ago. He would actually run to the bathroom and back.

    I know guys who used to trade on the floor–they would not hold a position overnight and usually tried to scalp a quick profit.

    Traders are different from swing traders different than buy and hold.

    GARY–when you say hedge, what do you mean–buy puts, sell covered calls, buy DUST or DGLD?

      Dec 04, 2014 04:36 AM

      Puts or DUST either one will work if needed.

    Dec 04, 2014 04:34 AM

    Gold looks like is having trouble breaking out with the general market getting back to positive.

    hal
    Dec 04, 2014 04:43 AM

    might just be the day before payrolls. There is something every week.

    we assume the govt or fed or banks are involved with everything. Probably are since the Fed already admits to buying trillions of assets. and managing interest rates.

    however, we also have a motherload of hedge funds who care not what they are trading, just care about catching a wave.

    we probably saw that right before the close yesterday with the miners–

    Dec 04, 2014 04:17 AM

    Hello everyone. Miners are pretty weak even the price of metals are stronger. Do you think this is due to tax loss selling?

      Dec 04, 2014 04:38 PM

      unlikely. long term losses in miners are quite large at this point and probably not many people taking short term losses here. U.S. dollar and deflation still the issue…demand for the shares just not there. The longer we linger here the more likely shorts will begin to cover which could generate even more covering.

    Dec 04, 2014 04:22 AM

    I am waiting for Gary, Rick, and Doc to tell me to mortgage the ranch and load up the truck with mining share certificates. And we haven’t heard from Bob Moriarity lately.

      Dec 04, 2014 04:32 PM

      Don’t even think about doing that Bonzo until you have DONE YOUR OWN DUE DILIGENCE!

        Dec 04, 2014 04:02 PM

        I have always relied on the kindness of strangers.

    Dec 04, 2014 04:34 PM

    I hope that things just linger here a while longer so I can get back from my honeymoon cruise and buy back in.

      Dec 04, 2014 04:26 PM

      Congratulations Wiseguy! (Or are you being a wiseguy!)

    Dec 04, 2014 04:05 PM

    Response to follow

    Dec 04, 2014 04:39 PM

    The most disappointing action in quite some time today: super weak dollar, weak PMs.

    en
    Dec 04, 2014 04:49 PM

    Gary, Al, and Cory – these folks who complain simply do so to get airtime or want to disrupt..

    They are getting free advice or opinion and yet they criticize. They are trolls…

    That is why they should be banned. They are probably paid interlopers who cloud the argument deliberately to confuse people.

    I for one feel banning these freeloaders is important to send a message to all posters. Most sites simply ban these trolls because they have nothing constructive to offer. You are getting free advice.

    Leave if you don’t like it.

      Dec 04, 2014 04:24 PM

      Thank en

    Dec 04, 2014 04:07 PM

    Your on to something tenyear, your on to something!

    Dec 04, 2014 04:08 PM

    US$ did NOT

    DID NOT

    put in a Bearish Engulfing candle today, at least not on Stockcharts. The body does not completely engulf yesterday’s.

    LPG
    Dec 05, 2014 05:09 AM

    A bit long and technical, but MUST READ article – Zerohedge:

    http://www.zerohedge.com/news/2014-12-04/inside-look-shocking-role-gold-new-normal

    Best to all,

    LPG