long on DZZ today...

here’s to me not getting burned…

I wish I had your nuts. Not literally, I think.

in at 11.60. place sell order at 9.00 just in case…lol

nuppal, now that Barrick eliminated all of its hedges why dont you just short them?

Too early I think SkipE99. People are now talking about $2,500 or $3,000 gold. Also, you’re effectively going long the USD, but I can’t see any reason (at least in the short term) why the USD would start to appreciate.

I can’t see any reason why the markets have rebounded 62% since bottoming out in March. Dollar in retrospect did fairly well in the turmoil last year. I’m betting that since people were still investing in Treasuries at very low interest rates the dollar is not as weak as most people think. Overreaction in the markets has driven Gold up and it is also so volatile that a 20-30% pullback before reaching $2500 doesnt seem that out of the ordinary (if its headed that high at all). Ahhh well, all I can do now is sit and wait. I can afford to leave this invested in there for a while, so let’s see what happens 8 months from now. On a side note, if anyone else has comments either way on this let me know. this is my first dabble in commodities and now have a vested interest. I am interested to see the interplay and correlation between gold and the almighty dollar.

SkipE99, check this chart out for an idea of the interplay and correlation of the USD: http://www.flickr.com/photos/30622724@N04/4155936973/

sheeeeiiizzz…might just cash out today

SkipE99 Wrote: ------------------------------------------------------- > sheeeeiiizzz…might just cash out today do you think it will snow out here??

not where I am at. people freak out and blow up even the smallest possibility. H-town is supposed to get a couple inches i hear

… I am on a visit to this city, people were really excited about the snow forecast. I hear H- town has been getting it since morning.

yeah thats right, i forgot, went back and edited

woopsy

daisy

Dec. 4 (Bloomberg) – The biggest rally in the U.S. dollar since June snuffed out an advance in commodities and damped gains in equities as an unexpected drop in the unemployment rate triggered bets the Federal Reserve will lift borrowing costs. Gold slid the most in a year and two-year Treasuries tumbled. BINGO BANGO…

Well played, SkipE99. You made like fifty bucks today!

Thank you CFA studying. My alert went off, but, thanks to ear plugs I missed the email until 5 minutes ago. There goes a 10% day that I will never get back. F*CK!

My trailings stop was hit. Always sad to see the total balance go down when you get stopped out, but it’s just part of the game. Much better to get stopped out than be continuously wondering if you should get out or not as things go wacky.

bchadwick Wrote: ------------------------------------------------------- > My trailings stop was hit. Always sad to see the > total balance go down when you get stopped out, > but it’s just part of the game. Much better to > get stopped out than be continuously wondering if > you should get out or not as things go wacky. haha. i have a problem with this. i hate stops because circumstances can change just as you hit your stop price. you may want to give it a little more time/space as your idea is further supported due to new info.

I’m comfortable with the stop being hit. I will later decide if/when I want to go back in. I prefer to do the intense thinking before I enter than as I exit. There is a technique where you write puts at a strike price you’d be comfortable buying something, collect a premium, and if you get assigned, you are entering at the price you originally wanted. I have more of a problem with the put strategy, because if your put gets assigned, conditions may have changed enough that you no longer think the strike price is sensible.