1st March 2012 – Pattern Study – The news follow the chart

Ticker:

 

1. ZSL, SLV, GLD, GLL

 

Topic:

 

1. The news follow the chart.

2. Fast and Furious!

 

Lesson Learnt:

 

1. Double top at SLV.
2. Double bottom at ZSL daily chart.
3. Bernanke was out giving speech. Such a coincidence! ---- Again, the news follow the chart.
4. Warren Buffett stated in his report that "Gold is not an Investment !" ---- Another proof of the news follow the chart.
5. The trade was fast and furious. Volume is huge. There is totally no time to hesitate if you want the trade.

 

Intraday Chart

Historical Chart

08th Nov 2011–Gold trap !

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
	15.62			loss		2 days

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. GLD gapped up even though indexes went down.
2. The world is now expecting to print $$ to save Europe. The easing mind set is on again.

 

Lesson Learnt:

 

1. Sometimes you don't have to wait for your stop loss to hit.
2. GLD might go even higher from here.

 

Intraday Chart

Historical Chart

05th Nov 2011–We sell GoLD !

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
16.10				15.10

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. Daily chart shows that GLL hit the bottom part of trend line.
2. Daily chart of GLD shows that it hit on the upper part of trend line.

 

Lesson Learnt:

 

1. Entry point sucks. I should have know that GLD is still strong and I should have waited for my entry patiently.
2. This is quite a dangerous take.

 

Intraday Chart

Historical Chart

7th July 2011–Golden Experience

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
	23.51				Even	20 days

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. Stop loss triggered

 

Lesson Learnt:

 

1. It is hard to short commodity like Gold. They are HOT commodity. Same goes to SLV.
2. It might be a good time to come back to GLL looking at the chart now. Let's see how the GLD ETF is doing.
3. There are a lot of gapping in GLD and GLL charts. Consistent adjustment of the stop loss is very essential and important.

 

Intraday Chart

Historical Chart

24th June 2011–Textbook is always right !

Ticker:

 

1. SLV, ZSL, GLD, GLL

 

Topic:

 

1. Textbook is always right.
2. Just like what I have expected on 14th June post.

 

Lesson Learnt:

 

1. The pattern is just like what you read from the textbook. For SLV, a sharp dive,  followed by a strong rebound and then another dip. In this case there is another small rally back to the resistance line before the actual dip.
2. For GLD, a double top observed.
3. The potential of ZSL and GLL is looking pretty high now.
4. Looks like the Gold rally has stopped !

 

Intraday Chart

Historical Chart

16th June 2011–Shorting the Yellow Metal

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
23.30				22.57

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. GLD looks like topping out.
2. Daily chart of GLD seems to be blocked by the 20MA and the trend line.

 

Lesson Learnt:

 

1. This trade is quite risky.
2. We need to monitor closely the behavior of UUP also. Currently UUP is still bullish.

 

Intraday Chart

Historical Chart