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Transcript of a conversation with Sol and traders from all the four corners of the World, 10th Jan 2004 |
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jay80888
(9:38:07 AM): Good morning everyone. testing.
jay80888
(9:38:22 AM): works great judyinvestor
(9:38:30 AM): Jay? jay80888
(9:38:39 AM): yes? judyinvestor
(9:38:41 AM): you are bright yellow on my screen. judyinvestor
(9:38:45 AM): yellow judyinvestor
(9:38:51 AM): anyone else have that? (9:38:57
AM) shauntyndaleb has entered the room. benkeytrade
(9:39:00 AM): no judyinvestor
(9:39:03 AM): OK judyinvestor
(9:39:10 AM): I can't even read it. jay80888
(9:39:10 AM): I think it has to do with your own setting. shauntyndaleb
(9:39:15 AM): hi Sol and thx shauntyndaleb
(9:39:18 AM): hi all judyinvestor
(9:39:19 AM): how do I change it? Allies1111
(9:39:27 AM): Hi shaun shauntyndaleb
(9:39:28 AM): nice to see u all douseethelight
(9:39:37 AM): yes nice to see everyone douseethelight
(9:39:46 AM): but the weather is not so great judyinvestor
(9:39:53 AM): Brrr. judyinvestor
(9:40:00 AM): How can you stand it? shauntyndaleb
(9:40:14 AM): Yes, sorry to hear that - coldest on record? douseethelight
(9:40:15 AM): great difficulty douseethelight
(9:40:26 AM): won't be here for much longer shauntyndaleb
(9:40:39 AM): Costa del Sol is not so bad. About 80F douseethelight
(9:40:44 AM): very nice shauntyndaleb
(9:40:59 AM): Florida will be similar douseethelight
(9:41:03 AM): yes benkeytrade
(9:41:17 AM): It has been about -40c for the 2 weeks in my area RMarchetta
(9:41:32 AM): Thickens the blood shauntyndaleb
(9:41:42 AM): Friends so we’re mad to consider Canada douseethelight
(9:41:47 AM): very douseethelight
(9:41:53 AM): unless u like cold weather douseethelight
(9:41:58 AM): but Canadians are nice people douseethelight
(9:42:04 AM): so it makes up for the weather shauntyndaleb
(9:42:12 AM): Yes, very civilized society benkeytrade
(9:42:14 AM): you got that right shauntyndaleb
(9:42:47 AM): Spaniards are nice too, without the rattlesnakes and grizzlies judyinvestor
(9:44:22 AM): I hear that near Toronto it doesn't get very cold. Allies1111
(9:44:44 AM): http://www.financialsense.com/fsu/editorials/ti/2004/0116.html shauntyndaleb
(9:44:54 AM): Calgary was -25 last week Allies1111
(9:44:57 AM): Sol said to read this benkeytrade
(9:44:59 AM): it still does just less snow judyinvestor
(9:45:03 AM): OK, thanks. judyinvestor
(9:45:09 AM): Is that one of your articles? Allies1111
(9:45:11 AM): now so that everyone is familiar Allies1111
(9:45:31 AM): apparently judyinvestor
(9:45:39 AM): Great, Alan! Allies1111
(9:45:54 AM): sol added my latest piece to his latest piece judyinvestor
(9:46:50 AM): very good. judyinvestor
(9:47:45 AM): come on, ABP, break that resistance. judyinvestor
(9:47:49 AM): Go go go. douseethelight
(9:48:38 AM): okay i will be back in 15 minutes douseethelight
(9:48:44 AM): in case you all are not aware douseethelight
(9:48:49 AM): i am sol behind this name douseethelight
(9:48:53 AM): just going to make some coffee douseethelight
(9:48:55 AM): and be back judyinvestor
(9:49:00 AM): good morning Sol. jay80888
(9:49:15 AM): Great article. Are
gold shares going to crash further?? How
low can they go? judyinvestor
(9:49:46 AM): anyone think they know? Allies1111
(9:49:58 AM): gold typically does a 50% retracement judyinvestor
(9:50:12 AM): interesting. jay80888
(9:50:31 AM): mining shares like 80%? :-( Allies1111
(9:50:42 AM): no Allies1111
(9:50:48 AM): 50 is tops judyinvestor
(9:51:04 AM): I am aiming for the 200 day ema on the stocks I get into.] jay80888
(9:51:31 AM): is there a possibility that gold bull market is over for now? benkeytrade
(9:51:48 AM): so should we get out of gold stocks completely and wait for XAU to
get around the 200 dma judyinvestor
(9:52:37 AM): I don't think that right now you should dump a bunch of gold
shares. judyinvestor
(9:52:44 AM): Do you, Alan. Allies1111
(9:52:45 AM): Sinclair say sell a third into strength jay80888
(9:52:51 AM): do you have any downside target on HUI or NEM? judyinvestor
(9:52:54 AM): this is not strength. Allies1111
(9:52:58 AM): strength is over Allies1111
(9:53:21 AM): so if u'r in Allies1111
(9:53:30 AM): hold on tight jay80888
(9:53:53 AM): would you short mining shares on bounce from panic situation
yesterday? judyinvestor
(9:54:45 AM): A little late for a short in my opinion.
Have to watch the dollar. (9:55:53
AM) RMBluemel1 has entered the room. jay80888
(9:56:07 AM): I agree. long term gold investors are buying in a little below
these levels. judyinvestor
(9:56:45 AM): Welcome RM douseethelight
(9:56:53 AM): I think we can start so lets work out some structure here douseethelight
(9:57:00 AM): if the questions start coming to fast douseethelight
(9:57:03 AM): alan will moderate RMBluemel1
(9:57:11 AM): Thanks Judy douseethelight
(9:57:26 AM): in other words you will have to direct questions to alan RMarchetta
(9:57:26 AM): Just finished reading...very interesting, good job. Hi, all. douseethelight
(9:57:31 AM): and he can then redirect them douseethelight
(9:57:36 AM): morning everyone douseethelight
(9:58:05 AM): okay well first of all i hope no one is shorting the market unless
it is for very short term gains douseethelight
(9:58:15 AM): and with very tight stops, if you go past this douseethelight
(9:58:27 AM): its not that you might lose
you will lose douseethelight
(9:58:49 AM): so off to questions fire away douseethelight
(9:58:52 AM): who wants to go first jay80888
(9:58:59 AM): Thanks for this discussion meeting, Sol douseethelight
(9:59:12 AM): u r more than welcome benkeytrade
(9:59:42 AM): do you think small caps is the way to go for 2004 douseethelight
(9:59:58 AM): when u r in a bull market jay80888
(10:00:00 AM): Is this gold correction sharp and short or long and steady
decline? RMarchetta
(10:00:03 AM): Seems gold and shares of gold are on everyone's mind. arvilgar
(10:00:05 AM): do you have any downside target on the Dow by your cycle analysis douseethelight
(10:00:10 AM): especially this type of bull mkt small caps are the way to go douseethelight
(10:00:18 AM): we have a selective bull market Allies1111
(10:00:23 AM): Sol, how quickly will the dow run after the correction douseethelight
(10:00:27 AM): its not your regular type, its a traders bull market douseethelight
(10:00:39 AM): so as they masses start to pile in they will jump into douseethelight
(10:00:41 AM): small caps douseethelight
(10:00:49 AM): because they seem to look affordable jay80888
(10:00:54 AM): another 1000 points up in Dow and is it all over??? (10:01:05
AM) mvingion has entered the room. douseethelight
(10:01:10 AM): okay lets hold while i catch up douseethelight
(10:01:13 AM): with the questions douseethelight
(10:01:27 AM): the gold correction judyinvestor
(10:01:27 AM): There are a couple of leveraged small cap index funds in Rydex
and Profunds groups if anyone is interested. douseethelight
(10:01:33 AM): could end up being very very severe douseethelight
(10:01:38 AM): i am not ready to make that call yet douseethelight
(10:01:47 AM): however i would not be buying gold stocks now douseethelight
(10:01:50 AM): and have not been buying them douseethelight
(10:02:04 AM): the dollar appears ready to rally if this rally is strong douseethelight
(10:02:21 AM): gold is going to get hit hard, which will provide another mouth
watering opportunity to load up douseethelight
(10:02:32 AM): it is interesting to note the gold stocks predicted the decline
in bullion douseethelight
(10:02:39 AM): they started to correct 2 weeks in advance douseethelight
(10:02:44 AM): so they will lead the way up douseethelight
(10:02:55 AM): watch for a bottoming sign in gold stocks douseethelight
(10:03:18 AM): next question benkeytrade
(10:03:20 AM): do you mean we should hold gold stocks douseethelight
(10:03:24 AM): is more like a statement douseethelight
(10:03:31 AM): actually everyone should have two portfolios douseethelight
(10:03:38 AM): one trading one hold till the trend is over jay80888
(10:03:39 AM): would you short gold stock on a bounce from the panic situ
yesterday? douseethelight
(10:03:51 AM): the hold till the trend is over portfolio douseethelight
(10:03:58 AM): you should not even bother looking at douseethelight
(10:03:59 AM): all douseethelight
(10:04:06 AM): but if you must look at it once a month douseethelight
(10:04:10 AM): or once every 3 months douseethelight
(10:04:18 AM): the trading portfolio douseethelight
(10:04:27 AM): you should more or less sell your gold stocks in this portfolio douseethelight
(10:04:36 AM): gold stocks being one everyone minds douseethelight
(10:04:39 AM): well that is true douseethelight
(10:04:44 AM): i use mass psychology at lot douseethelight
(10:04:55 AM): it is interesting to note that Yahoo has started to advertise douseethelight
(10:05:00 AM): gold mining companies douseethelight
(10:05:05 AM): i view that as a huge negative judyinvestor
(10:05:08 AM): Yeah. douseethelight
(10:05:10 AM): they are getting to cocky (10:05:18
AM) alll2go has entered the room. douseethelight
(10:05:18 AM): so they will be hammered soon douseethelight
(10:05:27 AM): for the next question douseethelight
(10:05:30 AM): 1000 point rally or not douseethelight
(10:05:45 AM): it is hard to pin point exactly where we will heard douseethelight
(10:05:47 AM): head i mean douseethelight
(10:05:56 AM): but we have already hit my first two targets very fast douseethelight
(10:06:01 AM): the next one is 11,400 douseethelight
(10:06:08 AM): and the extreme one is 11,700 douseethelight
(10:06:12 AM): could we get there yes douseethelight
(10:06:19 AM): if the masses get into a frenzy stage douseethelight
(10:06:25 AM): they could take it there very fast douseethelight
(10:06:41 AM): Alan your question douseethelight
(10:06:50 AM): after we correct how fast do we go up douseethelight
(10:06:58 AM): well on hourly cycles we already corrected douseethelight
(10:07:05 AM): when we hit 10,400 and something douseethelight
(10:07:09 AM): and they issued a buy douseethelight
(10:07:12 AM): two days ago douseethelight
(10:07:23 AM): the next target roughly is 10,650 douseethelight
(10:07:31 AM): -10,700 plus or minus douseethelight
(10:07:38 AM): 50 points i am looking at this very fast douseethelight
(10:08:03 AM): shorting gold stocks douseethelight
(10:08:06 AM): very very bad idea douseethelight
(10:08:11 AM): unless you are able to monitor douseethelight
(10:08:16 AM): the market douseethelight
(10:08:26 AM): and a very familiar with TA douseethelight
(10:08:34 AM): and are able to control the greed impulse douseethelight
(10:08:39 AM): to chase more profits douseethelight
(10:08:43 AM): if you plan on shorting douseethelight
(10:08:52 AM): decide how much you are looking to extract from the short now douseethelight
(10:09:01 AM): and close it as soon as you hit that target douseethelight
(10:09:05 AM): if you change that target douseethelight
(10:09:11 AM): as the trade develops douseethelight
(10:09:13 AM): you will lose douseethelight
(10:09:22 AM): most people do not have the discipline to close shorts douseethelight
(10:09:28 AM): at the suggested targets douseethelight
(10:09:36 AM): and hence end up getting killed and have to cover at a loss douseethelight
(10:09:48 AM): so best play is take it easy and don’t short douseethelight
(10:09:56 AM): the market is in a bullish phase douseethelight
(10:10:06 AM): when in a bullish phase you use pull back to go long douseethelight
(10:10:19 AM): shorting is not the way to go douseethelight
(10:10:22 AM): when the phase changes douseethelight
(10:10:29 AM): then we will use run ups to look for shorts douseethelight
(10:10:43 AM): until then if you like having a stable blood pressure douseethelight
(10:10:47 AM): and hair on your head douseethelight
(10:10:50 AM): stay away from shorting douseethelight
(10:11:13 AM): okay i think i
answered all the posted question douseethelight
(10:11:14 AM): s douseethelight
(10:11:18 AM): so we can take another 3-4 Allies1111
(10:11:24 AM): will the volitity get worse douseethelight
(10:11:27 AM): someone keep note of the questions jay80888
(10:11:28 AM): Is there a potential for 1987 type mania for stocks?
Any opportunity ot short stocks when we get to 11700? Are we heading for
a grand cycle type bear market to 4000? douseethelight
(10:11:30 AM): just in case i forget douseethelight
(10:11:48 AM): the volatility as we rise up and more people jump in douseethelight
(10:11:51 AM): yes it will get worse douseethelight
(10:11:59 AM): we will get what appears to be strong fast corrections douseethelight
(10:12:03 AM): convincing the bears douseethelight
(10:12:06 AM): that its time to load up douseethelight
(10:12:14 AM): and they will be rewarded with severe pain douseethelight
(10:12:30 AM): when you see the bears finally give up and throw their hands and
heads up in frustration douseethelight
(10:12:38 AM): will be the time for us to slowly build short positions douseethelight
(10:12:51 AM): when i go short i am looking to make 500-1000% douseethelight
(10:12:55 AM): on certain options trades douseethelight
(10:13:07 AM): until that time frame i don't want to waste my time RMarchetta
(10:13:20 AM): Question: The HUI is almost 3 points lower than it was on
11/17/03. Dollar is nearly 4.5 lower, and gold has only added $17 since then.
Couldn't a case be made that we're in a trading range now or consolidation? douseethelight
(10:13:21 AM): or energy chasing 10-20% gains and having 60% more stress douseethelight
(10:13:58 AM): the way we douseethelight
(10:14:08 AM): look at the market is entirely different from most people douseethelight
(10:14:14 AM): i for one do not look douseethelight
(10:14:19 AM): for certain retracement points or douseethelight
(10:14:23 AM): certain key levels to be hit douseethelight
(10:14:26 AM): before i buy douseethelight
(10:14:34 AM): what i do first is look for patterns douseethelight
(10:14:40 AM): and cycles douseethelight
(10:14:51 AM): then we wait for our indicators to all line up douseethelight
(10:14:55 AM): so let me give you an example douseethelight
(10:14:58 AM): gold could move from douseethelight
(10:15:05 AM): say a high of almost 430 douseethelight
(10:15:08 AM): to 390 douseethelight
(10:15:13 AM): which is really nothing douseethelight
(10:15:20 AM): but if the indicators issue a buy douseethelight
(10:15:22 AM): then i will buy douseethelight
(10:15:30 AM): i don’t care whether the move is small or large douseethelight
(10:15:37 AM): that is not how we use our indicators douseethelight
(10:15:41 AM): after the indicators issue a buy douseethelight
(10:15:48 AM): i visually look at each stock douseethelight
(10:15:50 AM): or index douseethelight
(10:16:01 AM): via esoteric cycles and esoteric pattern douseethelight
(10:16:03 AM): s douseethelight
(10:16:11 AM): to determine if they are ready to take a position in douseethelight
(10:16:13 AM): and that’s it douseethelight
(10:16:21 AM): we never really care about fundamentals douseethelight
(10:16:32 AM): and we do not obsess about key price zones douseethelight
(10:16:41 AM): if a stock is going to move up it will break any price zone douseethelight
(10:16:52 AM): and if it is going to move down it will crash through all support douseethelight
(10:16:56 AM): at some point in time douseethelight
(10:17:22 AM): we do not like to wait for the so called support lines to be
broken or resistance lines to be taken out before we take or exit a position douseethelight
(10:17:32 AM): what we are looking at is the beginning phase of a huge move up douseethelight
(10:17:41 AM): or a huge move down and then we lock and load as they say douseethelight
(10:17:50 AM): and wait for the indicators to start boiling douseethelight
(10:17:58 AM): in the oversold or overbought zones douseethelight
(10:18:08 AM): in reality our philosophy is very simple douseethelight
(10:18:15 AM): buy very cheap and sell very high douseethelight
(10:18:20 AM): sell very high and close very low douseethelight
(10:19:02 AM): next question douseethelight
(10:19:09 AM): those that are silent please douseethelight
(10:19:14 AM): if you have a question fire away jay80888
(10:19:23 AM): recently interest rate has been dropping.
ny significance? jay80888
(10:19:38 AM): shocked some bears Allies1111
(10:20:36 AM): with gold the leverage is high in relation to stocks, do u think
the masses can handle the volatility or will they get plucked again and again jay80888
(10:20:51 AM): great explanations
of your approach, by the way, Sol douseethelight
(10:21:17 AM): if u look at one of our older market updates douseethelight
(10:21:26 AM): i predicted that interest rates would start to drop douseethelight
(10:21:33 AM): in fact i suggest a trade douseethelight
(10:21:38 AM): under the high risk section douseethelight
(10:21:43 AM): for people to go long bonds douseethelight
(10:21:50 AM): just as we suggested to go long natural gas douseethelight
(10:21:53 AM): under 4.80 douseethelight
(10:21:58 AM): that trade made thousands douseethelight
(10:22:04 AM): as natural gas went as high as 7 douseethelight
(10:22:14 AM): bonds is a short term play so eventually douseethelight
(10:22:31 AM): we will start to slowly see higher rates douseethelight
(10:22:44 AM): as for the masses holding their gold stocks judyinvestor
(10:22:48 AM): You predicted a counter-trend dollar rally too. douseethelight
(10:22:50 AM): i for one hope they panic douseethelight
(10:22:54 AM): and dump everything douseethelight
(10:23:03 AM): at which point i will be only to happy to buy as much as i can douseethelight
(10:23:19 AM): i would not look at my ultra long term portfolio douseethelight
(10:23:22 AM): at all douseethelight
(10:23:29 AM): looking at the way gold has taken off douseethelight
(10:23:32 AM): cycles suggest douseethelight
(10:23:43 AM): but remember gold is highly controlled so anything can happen douseethelight
(10:23:52 AM): but they suggest the possibility of an extreme douseethelight
(10:23:58 AM): correction is significant douseethelight
(10:24:07 AM): simply because the gold bugs have become to cocky douseethelight
(10:24:13 AM): and they are all holding hands douseethelight
(10:24:19 AM): thinking they are doing something special douseethelight
(10:24:29 AM): its at this time the slaughter process douseethelight
(10:24:31 AM): begins douseethelight
(10:24:35 AM): and it can get very messy douseethelight
(10:24:43 AM): as the gold bugs are really put into place douseethelight
(10:25:00 AM): and understand that no investment in the world is worth putting
your whole portfolio into douseethelight
(10:25:31 AM): misery loves company and stupidity simply demands it douseethelight
(10:25:49 AM): so we will have a lot of stupid gold bugs watching their profits
vaporize in front of their eyes douseethelight
(10:26:00 AM): and the weak ones will sell right at the bottom douseethelight
(10:26:10 AM): and that is when we will be only to happen to step up and take it
all douseethelight
(10:26:17 AM): until they we wont be buying any gold jay80888
(10:26:17 AM): I tend to think Elliott waves are crap.
But did we have 5 waves up from 2001 bottom and ready for painful a-b-c
correction in mining shares? douseethelight
(10:26:29 AM): till i see the gold bugs crying i wont step in to buy more judyinvestor
(10:26:42 AM): For the Market Update people, if one of your small caps goes
down, would you advise buying more and building a larger positions? douseethelight
(10:26:46 AM): i really no nothing about waves douseethelight
(10:26:52 AM): accept the hand wave douseethelight
(10:26:56 AM): when you wave good bye douseethelight
(10:27:03 AM): i do not believe in the wave principle douseethelight
(10:27:10 AM): it is a fully mechanical system douseethelight
(10:27:13 AM): and therefore it must fail Allies1111
(10:27:54 AM): a tsunami is not detectable at sea jay80888
(10:27:55 AM): Love your answers! RMBluemel1
(10:28:17 AM): you have already answered my question concerning the so-called
Grand Super Cycle douseethelight
(10:29:05 AM): Judy i have always stated douseethelight
(10:29:14 AM): one should never over invest in any one stock judyinvestor
(10:29:25 AM): I know that. douseethelight
(10:29:37 AM): if you happen to have more money sure douseethelight
(10:29:42 AM): put some of it in that stock douseethelight
(10:29:46 AM): but do not put 10k in one stock douseethelight
(10:29:48 AM): and 1k in another douseethelight
(10:29:51 AM): you will douseethelight
(10:29:52 AM): lose douseethelight
(10:30:03 AM): common sense and discipline is all that is really douseethelight
(10:30:07 AM): required to win judyinvestor
(10:30:08 AM): I have them evenly divided, the small cap portfolio. douseethelight
(10:30:13 AM): if its to good to be true douseethelight
(10:30:15 AM): then run like hell douseethelight
(10:30:21 AM): and get a drink douseethelight
(10:30:24 AM): and think about i judyinvestor
(10:30:28 AM): But to build a larger position on a pullback I could buy more
shares. judyinvestor
(10:30:47 AM): Less than the first buy. douseethelight
(10:31:11 AM): u want me to endorse douseethelight
(10:31:15 AM): your view of trading douseethelight
(10:31:23 AM): as they say douseethelight
(10:31:24 AM): do it judyinvestor
(10:31:24 AM): It's not trading. douseethelight
(10:31:26 AM): pay for it douseethelight
(10:31:28 AM): and then learn from it douseethelight
(10:31:49 AM): the answer is simple benkeytrade
(10:31:50 AM): what is your favorite real time charting software? douseethelight
(10:32:00 AM): at no point in time should you put more in one stock than another douseethelight
(10:32:13 AM): I don’t use real time charting anymore douseethelight
(10:32:18 AM): threw it out long time ago douseethelight
(10:32:25 AM): its very good to give you a headache douseethelight
(10:32:32 AM): other than its value is very limited douseethelight
(10:32:46 AM): most of analysis is based on end of day and hourly data Allies1111
(10:33:59 AM): with the relationships you chart, can you see a long term pattern
emerging douseethelight
(10:34:11 AM): in regards to what judyinvestor
(10:35:12 AM): Don't mean to disagree, but you advised me once that the way to
Get Rich is to build a position in a stock. Allies1111
(10:35:14 AM): dollar gold bonds douseethelight
(10:36:01 AM): dollar long term douseethelight
(10:36:02 AM): dead jay80888
(10:36:08 AM): India vs. China. India
has the Caste system tradition - with the ELITIST mentality.
In China, communism has made the country quite democratic.
Is there possibility that China is more socially advanced and more ready
to be rich? douseethelight
(10:36:09 AM): bonds long term big trouble douseethelight
(10:36:17 AM): gold long term going to the sun jay80888
(10:36:22 AM): earlier than India mvingion
(10:36:26 AM): from my experience, I've made more adding after position showed
profit rather mvingion
(10:36:33 AM): than other way around douseethelight
(10:36:49 AM): yes smart way douseethelight
(10:36:51 AM): average up douseethelight
(10:36:58 AM): look at the word carefully douseethelight
(10:37:03 AM): every body is ready to lose douseethelight
(10:37:07 AM): so they look to average down douseethelight
(10:37:13 AM): no one looks forward to averaging up douseethelight
(10:37:17 AM): as for India douseethelight
(10:37:20 AM): its a wild card play douseethelight
(10:37:25 AM): meaning its all or nothing douseethelight
(10:37:32 AM): India is a very corrupt place judyinvestor
(10:37:35 AM): That's what I meant Jay. douseethelight
(10:37:41 AM): and that is what could blow them into hell jay80888
(10:37:49 AM): big average down guy right here. Thanks for great advise, as usual, Sol!!!
Love it. douseethelight
(10:37:53 AM): as for china its running huge terrible loans douseethelight
(10:37:59 AM): so they could crash douseethelight
(10:38:06 AM): in the short term douseethelight
(10:38:15 AM): which would be a good opportunity to buy in douseethelight
(10:38:24 AM): greater plays are in places that no one douseethelight
(10:38:29 AM): was looking douseethelight
(10:38:33 AM): for example south Africa douseethelight
(10:38:36 AM): Botswana judyinvestor
(10:38:39 AM): And another thing, CNBC lately talking up China and Chinese
stocks big time because the China index was up 100% last year!!! douseethelight
(10:38:42 AM): another country in Africa douseethelight
(10:38:52 AM): countries in eastern Europe douseethelight
(10:38:53 AM): e douseethelight
(10:38:59 AM): when Argentina crashed douseethelight
(10:39:06 AM): i suggested people go in and buy property there douseethelight
(10:39:16 AM): already those properties are up significantly douseethelight
(10:39:22 AM): you don’t want to be where the hive is douseethelight
(10:39:32 AM): if you read about it in the main stream news douseethelight
(10:39:35 AM): the opportunity is over judyinvestor
(10:39:50 AM): Or hear about it on CNBC. jay80888
(10:40:16 AM): China expansion bubble ready to burst? douseethelight
(10:40:25 AM): that’s the ultimate topping indicator CNBC douseethelight
(10:40:37 AM): in their entire existence they have douseethelight
(10:40:41 AM): an unbelievable record douseethelight
(10:40:45 AM): and being nothing but wrong mvingion
(10:41:05 AM): the bullishness on China is due to speculation on reminibi
revaluation jay80888
(10:41:14 AM): Man, I should apply for a job in CNBC! douseethelight
(10:41:15 AM): they wont revalue douseethelight
(10:41:19 AM): its a dream mvingion
(10:41:27 AM): the Chinese basically toying with us douseethelight
(10:41:29 AM): china is telling America what to do now douseethelight
(10:41:32 AM): not the other way round judyinvestor
(10:41:35 AM): If they did, I believe their stocks would drop. mvingion
(10:41:40 AM): we show are hand to much douseethelight
(10:41:43 AM): they could technically drop a financial bomb in douseethelight
(10:41:46 AM): Australia douseethelight
(10:41:54 AM): to illustrate their power douseethelight
(10:41:55 AM): to the US douseethelight
(10:42:01 AM): they have enough aussie paper jay80888
(10:42:07 AM): wow! douseethelight
(10:42:08 AM): to destroy the system if they unload it douseethelight
(10:42:17 AM): so china is not going to negotiate douseethelight
(10:42:32 AM): they will only re value their currency jay80888
(10:42:32 AM): Taiwan is toast? douseethelight
(10:42:40 AM): when they think its in their interest douseethelight
(10:42:43 AM): the rest is just noise Allies1111
(10:43:04 AM): the white man is living in a fool’s paradise mvingion
(10:43:12 AM): lol douseethelight
(10:43:14 AM): yes good points David mvingion
(10:43:21 AM): thxs Allies1111
(10:43:21 AM): because it worked for 2 hundred years douseethelight
(10:43:23 AM): actually its not so much as the white man douseethelight
(10:43:27 AM): as the ignorant man douseethelight
(10:43:34 AM): right now, white, black yellow Allies1111
(10:43:36 AM): does not mean it will continue douseethelight
(10:43:41 AM): and all other shades douseethelight
(10:43:49 AM): are living in a dream world douseethelight
(10:44:15 AM): mega changes are in the works right now as we speak douseethelight
(10:44:27 AM): and there is nothing that can stop them douseethelight
(10:44:31 AM): slow them down maybe douseethelight
(10:44:34 AM): but stop them impossible Allies1111
(10:44:48 AM): are you saying that the structures we live under are
unsustainable RMBluemel1
(10:45:01 AM): so gold and silver are the only hope? douseethelight
(10:45:04 AM): i don’t like dealing douseethelight
(10:45:14 AM): in gloom and doom predictions douseethelight
(10:45:22 AM): those are best left to the witch doctors Allies1111
(10:45:27 AM): haha douseethelight
(10:45:27 AM): or wall street analysts douseethelight
(10:45:33 AM): what I am saying is this douseethelight
(10:45:37 AM): technically douseethelight
(10:45:42 AM): if I wanted to douseethelight
(10:45:45 AM): but I wont do it douseethelight
(10:45:50 AM): because I have nothing to prove douseethelight
(10:45:57 AM): one could not invest one dollar in gold douseethelight
(10:46:00 AM): and still beat douseethelight
(10:46:08 AM): anyone who invested in gold as it went all the way douseethelight
(10:46:08 AM): up douseethelight
(10:46:16 AM): so its not about making money douseethelight
(10:46:24 AM): so much as how much do u have to suffer to make it douseethelight
(10:46:37 AM): i don’t want to increase my stress levels
to make a few extra points douseethelight
(10:46:43 AM): its not worth it douseethelight
(10:46:51 AM): i want to actually be able to spend time reading douseethelight
(10:46:54 AM): traveling douseethelight
(10:47:02 AM): enjoying various types of foods douseethelight
(10:47:08 AM): so just making money and putting it in the bank douseethelight
(10:47:13 AM): is a fools dream jay80888
(10:47:21 AM): why do people like me ready to suffer so much
to make money? is that a
sickness? mvingion
(10:47:24 AM): that’s too simple for most people douseethelight
(10:47:25 AM): it becomes a vicious cycle and before you know it you are over
and dead douseethelight
(10:47:57 AM): its called programming jay80888
(10:48:00 AM): is it possible to find
pleasure in trading? Allies1111
(10:48:25 AM): the pleasure is in winning Allies1111
(10:48:36 AM): most people don't douseethelight
(10:48:38 AM): programming to lose jay80888
(10:48:39 AM): that explains it! LOL douseethelight
(10:48:42 AM): school douseethelight
(10:48:45 AM): your friends douseethelight
(10:48:47 AM): work douseethelight
(10:49:04 AM): they all are agents of mental destruction douseethelight
(10:49:19 AM): not all your friends but most of them douseethelight
(10:49:29 AM): what you have to do is evaluate what you want in life douseethelight
(10:49:32 AM): why do u trade douseethelight
(10:49:35 AM): what are your reasons douseethelight
(10:49:44 AM): what do u intend to do with the money douseethelight
(10:49:47 AM): once you get it douseethelight
(10:49:49 AM): don’t wish for it douseethelight
(10:49:52 AM): plan for it now jay80888
(10:49:53 AM): to become rich is a bad reason for trading? douseethelight
(10:49:58 AM): if you don’t plan for it means you know alll2go
(10:50:03 AM): a certain amount of money is required to do the things you
suggest Sol douseethelight
(10:50:05 AM): that you have no hope in hell of getting it douseethelight
(10:50:08 AM): yes douseethelight
(10:50:18 AM): that’s why you trade slowly but surely RMBluemel1
(10:50:26 AM): so how do I change this programming douseethelight
(10:50:27 AM): do not go for the long shots jay80888
(10:50:30 AM): wow! Sol, you are
scaring me. douseethelight
(10:50:33 AM): we all want douseethelight
(10:50:39 AM): to get this one big winner douseethelight
(10:50:46 AM): and yet we will take a 1000 small losers douseethelight
(10:50:49 AM): which actually douseethelight
(10:51:01 AM): add up to 10 big mega winners douseethelight
(10:51:09 AM): so we will actually get one winner but it will amount to nothing douseethelight
(10:51:13 AM): how do u change it douseethelight
(10:51:22 AM): its a step by step procedure douseethelight
(10:51:26 AM): just like we learnt to walk douseethelight
(10:51:29 AM): we can re learn to think douseethelight
(10:51:32 AM): one step at a time douseethelight
(10:51:42 AM): first thing is to assess your priorities douseethelight
(10:51:45 AM): what are your goals douseethelight
(10:51:47 AM): if you have none douseethelight
(10:51:51 AM): u r in big trouble douseethelight
(10:51:56 AM): make sure you have some douseethelight
(10:52:05 AM): take time to dream a little but do not get tied up in douseethelight
(10:52:06 AM): it douseethelight
(10:52:13 AM): when you think you have no time to relax douseethelight
(10:52:19 AM): that is precisely when you should get on a plan douseethelight
(10:52:20 AM): e douseethelight
(10:52:26 AM): and fly down to a quiet spot douseethelight
(10:52:33 AM): and do nothing but think Allies1111
(10:52:39 AM): when I was farming douseethelight
(10:52:40 AM): we all have time but we have decided that making money douseethelight
(10:52:44 AM): is the most important thing Allies1111
(10:52:45 AM): I knew that when Allies1111
(10:52:54 AM): I started to hurt myself Allies1111
(10:53:04 AM): it was time to rest alll2go
(10:53:20 AM): I just want to make a living, have freedom and enjoy my kids. I
lose as much as I make so far...that’s why I joined...to improve our life and
income douseethelight
(10:53:43 AM): you will notice that i spend a lot of time douseethelight
(10:53:48 AM): talking about investing as a way of life Allies1111
(10:53:49 AM): and improve the thought processes? douseethelight
(10:53:59 AM): we are doing things at the tactical investor that on the surface douseethelight
(10:54:04 AM): appear to have nothing to do with investing douseethelight
(10:54:07 AM): but in reality douseethelight
(10:54:13 AM): if you do not invest in yourself douseethelight
(10:54:18 AM): you are destined to lose douseethelight
(10:54:25 AM): doomed to lose is a better way of putting it douseethelight
(10:54:30 AM): that is why 90% lose douseethelight
(10:54:41 AM): because they have not taken the time to invest in themselves douseethelight
(10:54:44 AM): i put this question to you jay80888
(10:54:48 AM): Sol, my greatest regret is not finding you earlier.
I truly appreciate your insights. I
think they are invaluable. douseethelight
(10:54:52 AM): finally you make the million dollars you wanted douseethelight
(10:55:00 AM): you are rich beyond douseethelight
(10:55:07 AM): beyond your wildest dreams douseethelight
(10:55:11 AM): you have everything money can buy douseethelight
(10:55:18 AM): the next week the doctor tells you douseethelight
(10:55:27 AM): you have cancer you only have 3 weeks left douseethelight
(10:55:37 AM): the reason you have cancer is because you failed to take care of
yourself douseethelight
(10:55:48 AM): you failed to invest in the one thing that really mattered the
most douseethelight
(10:55:50 AM): yourself douseethelight
(10:55:57 AM): you did everything the wrong way douseethelight
(10:56:01 AM): now is it worth douseethelight
(10:56:02 AM): it douseethelight
(10:56:05 AM): can you say you won douseethelight
(10:56:09 AM): no you lost miserably douseethelight
(10:56:19 AM): you finally have what you want but you cannot live to enjoy it douseethelight
(10:56:30 AM): there fore make sure you understand the word desperate douseethelight
(10:56:50 AM): least your are forced into situation
where it has to seared into your forehead douseethelight
(10:57:03 AM): we are not hear just to make money but to do the most we can and
the best we can douseethelight
(10:57:08 AM): with the little we have douseethelight
(10:57:12 AM): if you take this thinking douseethelight
(10:57:15 AM): you can but only win douseethelight
(10:57:23 AM): u never fail until you give up douseethelight
(10:57:38 AM): until then every failure is to be viewed as stepping stone to
success douseethelight
(10:57:48 AM): i cannot emphasize how important it is that douseethelight
(10:57:56 AM): you spend time learning to understand yourself douseethelight
(10:58:08 AM): getting to care about yourself and treating yourself with respect douseethelight
(10:58:14 AM): the respect that you deserve douseethelight
(10:58:19 AM): for if you cannot respect yourself douseethelight
(10:58:28 AM): no one will or even bother to attempt to do something that douseethelight
(10:58:32 AM): you have completely failed to do Allies1111
(10:58:43 AM): the definition of experience that i like Allies1111
(10:58:57 AM): is when you can recognize that Allies1111
(10:59:14 AM): you have made the same mistake again benkeytrade
(10:59:20 AM): I’ve been at the calmest of my short trading carrier since I
got into mkt update...your style and commentary just transformed me in a more
relaxed and confident trader...I’m not going for the homerun anymore and enjoy
every moment of douseethelight
(10:59:36 AM): thank you but jay80888
(10:59:40 AM): I love what you said about best things in life being free or
little cost. I thought about that
as gold shares collapsed. It really
helped. douseethelight
(10:59:50 AM): you deserve credit because u decided to implement suggested
changes douseethelight
(10:59:55 AM): so its not a one way street douseethelight
(11:00:02 AM): only a fool claims to be a god douseethelight
(11:00:06 AM): and only god makes fools RMBluemel1
(11:00:34 AM): thanks for your time and insights douseethelight
(11:00:53 AM): since we have more people than i thought i will stick around for
another 30 minutes Allies1111
(11:01:06 AM): cool douseethelight
(11:01:08 AM): as the market updates will not be as lengthy as before mvingion
(11:01:14 AM): appreciate that douseethelight
(11:01:15 AM): i mean i will be doing less douseethelight
(11:01:23 AM): philosophizing jay80888
(11:01:27 AM): Keep sharing. This
is the best hour I spent in a long, long time douseethelight
(11:01:44 AM): its only good because we all made it good douseethelight
(11:01:52 AM): nothing great is ever done or achieved alone douseethelight
(11:02:11 AM): you might succeed in inventing something douseethelight
(11:02:17 AM): but for it to be appreciated it has to be shared douseethelight
(11:02:24 AM): so if you invent the best computer in the world douseethelight
(11:02:26 AM): and hide it douseethelight
(11:02:30 AM): its totally useless douseethelight
(11:02:53 AM): no one will know about it, no one will thank you and you will be
in the same place u were douseethelight
(11:02:57 AM): before douseethelight
(11:03:08 AM): to move up is always confused with the concept of money douseethelight
(11:03:18 AM): the day you realize that you know absolutely nothing douseethelight
(11:03:22 AM): that you are nothing douseethelight
(11:03:25 AM): and will always be nothing douseethelight
(11:03:34 AM): but are someone who is trying to be someone and something douseethelight
(11:03:38 AM): is the day everything will work for you douseethelight
(11:03:46 AM): when you stop chasing douseethelight
(11:03:55 AM): and desperately trying to get things they elude you douseethelight
(11:04:38 AM): we will email everyone a transcript douseethelight
(11:04:41 AM): of this conversation douseethelight
(11:04:46 AM): as many of the others douseethelight
(11:04:58 AM): are working and its not fair that just because they have to work
they douseethelight
(11:05:02 AM): should not get the info douseethelight
(11:05:52 AM): Alan can speak a bit about trading alll2go
(11:05:53 AM): a lonely heart wandering free, a hungering aching thing to be, a
groveling shadow an anguished soul, is that the ultimate and only goal? douseethelight
(11:06:09 AM): he knew nothing a year ago douseethelight
(11:06:10 AM): no jay80888
(11:06:15 AM): do fundamental convictions create dangerous prejudice?
People may hold on to mining shares while collapsing till pain gets
stronger than their funda convictions? douseethelight
(11:06:20 AM): you should never grovel alll2go
(11:06:22 AM): Not if you make some money and leave it to your kids douseethelight
(11:06:25 AM): u should never beg douseethelight
(11:06:29 AM): you should never look down douseethelight
(11:06:39 AM): u should never stop believing in yourself douseethelight
(11:06:51 AM): you should never accept that someone is better than you douseethelight
(11:06:53 AM): if they tell you that douseethelight
(11:07:00 AM): fight till the end to prove them douseethelight
(11:10:01 AM): if they decide to attack me tomorrow benkeytrade
(11:10:02 AM): he who is nobody is somebody! douseethelight
(11:10:10 AM): or say i am no one now, it wont matter douseethelight
(11:10:18 AM): because my perception of myself douseethelight
(11:10:20 AM): never changed douseethelight
(11:10:48 AM): that’s why when people fight so hard to be someone they usually
get to be someone for a little while douseethelight
(11:10:52 AM): but then fall down to being no one again douseethelight
(11:10:57 AM): and the fall is hard to take Allies1111
(11:11:05 AM): the power of positive thinking is truly amazing douseethelight
(11:11:08 AM): i have no where to fall i am on flat stable road douseethelight
(11:11:30 AM): its also the theory
of paradoxes douseethelight
(11:11:36 AM): you get that which you do not chase douseethelight
(11:11:38 AM): but seek douseethelight
(11:11:41 AM): seeking the truth douseethelight
(11:11:44 AM): seeking riches douseethelight
(11:11:46 AM): is all fine douseethelight
(11:11:50 AM): because you have a goal jay80888
(11:11:57 AM): what is the difference? Between seeking and chasing? douseethelight
(11:11:58 AM): chasing is not fine its an act of desperation douseethelight
(11:12:06 AM): seeking means you have a mission douseethelight
(11:12:16 AM): you are willing to take the time to learn and understand douseethelight
(11:12:26 AM): the tools and equipment you douseethelight
(11:12:35 AM): will need for this journey douseethelight
(11:12:43 AM): chasing is simply jumping in your car douseethelight
(11:12:54 AM): and going about trying to get something like a mad man with no
plan douseethelight
(11:13:00 AM): and only one thought i need it douseethelight
(11:13:02 AM): and i deserve it douseethelight
(11:13:12 AM): that which is not planned for will never douseethelight
(11:13:13 AM): occur jay80888
(11:13:44 AM): name it and claim it? LOL
judyinvestor
(11:14:17 AM): The ZEN trader. douseethelight
(11:14:41 AM): you should strive to do the things in life douseethelight
(11:14:44 AM): that bring you peace douseethelight
(11:14:53 AM): and not live up to someone else’s douseethelight
(11:14:57 AM): expectations douseethelight
(11:15:03 AM): or what society deems douseethelight
(11:15:08 AM): adequate douseethelight
(11:15:14 AM): so what i am trying to say douseethelight
(11:15:20 AM): is there is nothing wrong one can really do douseethelight
(11:15:24 AM): if one takes time to think about douseethelight
(11:15:25 AM): it judyinvestor
(11:15:42 AM): There is always a way -- Louise Hay. douseethelight
(11:15:43 AM): if you decide that dedicating your life to digging graves douseethelight
(11:15:46 AM): is what you want to do douseethelight
(11:15:52 AM): that is perfectly douseethelight
(11:15:54 AM): normal and fine douseethelight
(11:15:58 AM): as long as you are okay with it douseethelight
(11:16:30 AM): Judy abp jay80888
(11:16:30 AM): Should I continue with trading despite all the pain it brought
me? is it worth it? douseethelight
(11:16:33 AM): just took out resistance douseethelight
(11:16:36 AM): as i told you it would douseethelight
(11:16:39 AM): its now at 1.75 douseethelight
(11:16:49 AM): what must go up will go up till it stops going up douseethelight
(11:16:50 AM): lol judyinvestor
(11:16:51 AM): I know. judyinvestor
(11:17:02 AM): I am still a silly person who watches a daily chart. judyinvestor
(11:17:15 AM): You used to day trade futures.
Why did you stop? douseethelight
(11:18:02 AM): I actually care about my body douseethelight
(11:18:19 AM): and my body did not like futures, stocks douseethelight
(11:18:21 AM): and writing douseethelight
(11:18:24 AM): and trading currencies douseethelight
(11:18:31 AM): so i could trade futures and stocks etc judyinvestor
(11:18:34 AM): too much, I know. douseethelight
(11:18:37 AM): but i would have to stop writing douseethelight
(11:18:40 AM): so i made a choice douseethelight
(11:18:43 AM): take the money douseethelight
(11:18:46 AM): or take some joy douseethelight
(11:18:54 AM): fortunately joy won judyinvestor
(11:19:03 AM): Yes. douseethelight
(11:19:35 AM): otherwise i would have not had time to write a single article douseethelight
(11:19:50 AM): and gold eagle and all the other sites would never know who i was douseethelight
(11:20:03 AM): i sometimes don't think my coming out of hiding douseethelight
(11:20:06 AM): was such a good idea douseethelight
(11:20:08 AM): but its to late douseethelight
(11:20:14 AM): to cry over spilt milk douseethelight
(11:20:21 AM): so one has to live with it and make the best of it mvingion
(11:20:49 AM): be careful of what you pursue you jus might get it judyinvestor
(11:21:02 AM): I believe you are extremely intelligent and appreciate all of the
help you have given me and others. douseethelight
(11:21:07 AM): yes well in my case i did not want it so the paradox douseethelight
(11:21:11 AM): theory kicked in jay80888
(11:21:14 AM): price of fame? At
least you are not as well known - say as Sinclair or that indian astrology guy. douseethelight
(11:21:17 AM): you get that which u do not seek douseethelight
(11:21:27 AM): sorry chase mvingion
(11:21:33 AM): true douseethelight
(11:21:52 AM): ironically douseethelight
(11:21:59 AM): the less i want to be known douseethelight
(11:22:10 AM): the more known i get douseethelight
(11:22:23 AM): oh well such is the bitter sweet pill of life mvingion
(11:22:37 AM): that’s are culture, why shows like celebrities uncensored are
so popular alll2go
(11:22:50 AM): sorry to change subject. what’s up with gold all of a sudden?
it just spiked while we were talking it touched 405 and bounced douseethelight
(11:23:09 AM): the powers to be are probably mounting an attack jay80888
(11:23:15 AM): 50 day moving average bounce? douseethelight
(11:23:17 AM): with gold priced in Rands douseethelight
(11:23:25 AM): it is 125 dollars lower than Feb. 2003 douseethelight
(11:23:28 AM): Feb. 2003 douseethelight
(11:23:36 AM): gold was about 300-330 douseethelight
(11:23:42 AM): so add 125 douseethelight
(11:23:46 AM): to 300 you get 425 douseethelight
(11:23:49 AM): to 455 douseethelight
(11:23:57 AM): this is where they will mount an attack as the douseethelight
(11:24:02 AM): advantage they created jay80888
(11:24:08 AM): computing market averages in rand, etc.
is that really meaningful? Isn’t
dollar the main story? douseethelight
(11:24:08 AM): loses its value douseethelight
(11:24:23 AM): main because you have been told to think so douseethelight
(11:24:28 AM): nothing is important douseethelight
(11:24:35 AM): if you are going to assign a value douseethelight
(11:24:41 AM): either do it equally douseethelight
(11:24:46 AM): or say that they all are useless douseethelight
(11:24:51 AM): in reality douseethelight
(11:24:57 AM): all currencies are garbage douseethelight
(11:25:10 AM): so we should treat them all with equal disrespect douseethelight
(11:25:36 AM): gold is topping douseethelight
(11:25:44 AM): while dollar is bottoming douseethelight
(11:25:48 AM): depending on how douseethelight
(11:25:56 AM): carried away the big speculators get douseethelight
(11:26:03 AM): this could be a short term fast rally douseethelight
(11:26:09 AM): or a multi quarter rally douseethelight
(11:27:05 AM): for this quarter douseethelight
(11:27:09 AM): the main themes douseethelight
(11:27:15 AM): will be oil service stocks douseethelight
(11:27:18 AM): natural gas stocks douseethelight
(11:27:25 AM): biotechnology douseethelight
(11:27:30 AM): nano technology douseethelight
(11:27:48 AM): independent oil and natural gas exploration douseethelight
(11:27:51 AM): and drilling sectors benkeytrade
(11:27:57 AM): do you see any new nano plays in future shauntyndaleb
(11:27:57 AM): thx Sol and all, v interesting, hv to dash unfortunately - bye jay80888
(11:28:01 AM): when do you see this bull market topping out?
a few more months? douseethelight
(11:28:12 AM): u r welcome Shaun douseethelight
(11:28:13 AM): take care douseethelight
(11:28:27 AM): as far as nano tech goes douseethelight
(11:28:36 AM): yes they will pull back and we will buy more |