... and probably yours too. LOL.
I'm an Awful, Bigoted Woman and I've got a bias that a gold bubble is bound to form - even if I'm the only woman on earth to think so. It's only a question of when. I started pondering what would signify that the bubble's about to burst and a few indications probably have to occur before this happens:1. P/S or P/B or both on the majority of gold miners would have to really go postal, especially junior miners 2. the prices on a long term gold chart would have to coincide with a 5th wave formation3. there would have to be indications of gold miners overproducing The big question here is what is considered an overvalued P/S or P/B in a market that's clearly got a lot of momentum. Already, we see P/S values on some stocks above the psychologically important 10 level. Is a P/S of 15 enough to crash the cart or do we have to see 20? Note that GOLD's P/S is already trading above 18. Here's my homework, Professor... don't give me detention!
... on Sunday, weather-permitting. Did anyone manage to find the Elliott Wave thing on gold or was I totally being delusional and schizoprenic? It took over 8 years to form this wave and the next one could be almost as time-consuming, but doesn't the risk:reward look very compelling? I'm looking for at least another two technical indications to confirm the wave since I don't even know if I counted it correctly. I wouldn't mind being the Woman Who Struck Gold, but at the same time, I don't want to have a repeat of the HP Incident either. Today:-0.25% on the SBA+0.79% on the Roth IRAThe 21 August 2010 options expiry should be fun for a lot of stocks, including CENX and Crown Prince C...
I took about two hours looking at charts today because I was just in such a state of shock after receiving some news from my sister that she was officially "disowning" me after our Jerry Springer incident. I suppose I'm more hurt than angry even though technically, I should really be the one doing the disowning. I'll get to the charts later, but you can skip all my JNSB, which is more for me to vent than anything.
My sister technically "borrowed" five figures from me to buy a house back in 2007. I had told my family not to do so back in July 2006. I distinctly remember telling them to wait until housing prices started heading downwards. Instead, I was greeted with a whole slew of name-calling... cruel, heartless, bitch, frog in a well. The typical Chinese guilt trip type of treatment. I gave in with a lot of resentment and I remember begging my Dad not to disown me. I was kneeling down on the floor when he told me he didn't even want to see me at his funeral. So, I had no choice but to give in and I don't even legally own the house.
Every few years, I'd get a request for five figures here and five figures there. Finally, on my recent visit, they requested that I help out with six figures for my brother's college tuition. I suggested scholarships and possibly finding out if it's possible to bypass some classes to get his degree - maybe even doing some stuff in the meantime to boost his income. I admit my delivery was way off. I'd been very defensive and resentful, but the name-calling from them got even uglier. I basically got psycho-analysed for free and I was diagnosed with being schizophrenic and delusional, ignorant, cruel, heartless, selfish, etc. Yes, I'm moodier than Moody's but hearing from your family that they think you're schizophrenic? Now, that's love!
I also was told that it's normal for me to have been belittled by my Dad in the way that I was treated all through my life. No, it's not normal and it was never normal nor will it ever be normal according to me.
According to their view of my life, I’m going to die husbandless, children-less, family-less and friendless. I can’t say that I don’t secretly harbour the same view and I probably wouldn't mind too much about the children-less part either. All my life, I’ve heard what a terrible person I am from my family and everyone else around me seemed to think I was the sweetest girl in the world. I was always Teacher’s Pet. But to my family, I was nothing. I told myself, I’ve got to stand up for my financial future because the economy is uncertain and this might be all I’ll ever get.
So my options were:
A. Pay them six figures so that I can be considered a “good sister” while sacrificing my own financial future and all the while getting the abuse that is customary from them
B. Getting disowned and keeping my six figures
I don't know if I can respect myself either way, really. I definitely can't respect myself by choosing A, but now getting hit with option B seems a bit too out-of-the-blue, although I was adamant about keeping my six figures - just without the disowning part. Have I become like the prisoner who's been set free and yet doesn't know what to do with her freedom?
I was in a family that never thought of me as family. If they thought of me as family, would they have ever called me all those names? To me, a family doesn’t do that. Did they ever think how selfish they are by asking me to give up another six figures for them? Then, they’ll come back to me and ask WTF I haven’t been able to save any money all these years even though according to them, I make a lot of money. Did they ever think they played a part in burning through it? Yes, I was making a lot of money that enabled five people to survive all these years. Did I even get a thank you? At least from Citibank, you get some Thank You points. From your family, you get an eff you. That’s what you get.
Anyway, after some crying, we're onto the effing charts! I've had it with the market too and it seems to be on its way to disowning me.
+1.39% on the SBA
-0.27% on the Roth IRA
I've been looking at all the major markets - S&P, Eurofirst, FTSE, Nikkei, Shanghai... and I was like... OK, I've got to stop and just look at our perennial favourites - gold and oil.
There's a very nice horizontal support line on oil at around the $70 level and on gold? Bwahaha... I'm getting ready for doing the Trade of the Century on gold. Get out your Elliott Wave Flags, people and start waving...
I did my own homework, but a Fellow HSFTs heads up to you... hint: look on the really, really long term charts!
Here's the one-year oil chart from FT.com:
That is pure beauty, isn't it? I'm not sure I have any inkling where oil would go, but I'm just going to keep an eye out for whether oil can hold at $70. And if it does, then we'll see you back on the way up, our dearly beloved Bears...
I didn't trade FOMC, which was good because I think I would be pretty emotionally volatile right now if I did. Look at GBP/JPY! But I am thinking about potentially contradicting myself and saving the stop-moving for later.Isn't the Fed basically saying that it feels OK with the current risk rally? This is a major market confidence booster. Whether the rally will continue depends on how many people buy the sizzle. I've got a few partial positions I can take profit on, but what if the market bottom's for real?Then, I'd be hating myself for the rest of my life if we go back to pre-Lehman style market hysteria. Having said that, I am going to be more brutal with a few of the safe-haven-type positions I have in my portfolio. And I'm really praying that ABK will be able to weather the storm. I know praying does not help when you're in a really bad trade. So don't try it at home.Could NYX, C, and BAC turn out to be blessings in disguise for my portfolio?If things line up, I'll probably be looking at a short gold play. My theory so far has been once the economic recovery is for certain, people who have rushed into gold will sell and move their assets back to higher yielding asset classes, which in this case would probably be equities.
Even for someone who's not great at math, I could tell that this limited edition coin is a major rip off. There have been reports that gold coins from various mints have been selling like limited edition hotcakes. Some mints are even out of stock on gold coins.Everyone has heard that once an investment vehicle gains mass popularity, that market's basically over. My theory is that once everyone realises that the economic recovery is taking place, there will be a big gold sell-off. People will want to divert their money to higher growth vehicles and this will include equities. So, I'm planning a gold play...
