non RE – trading: Hey, Pigg Traders!

[4plexowner]

Chris Scoreboar recently mentioned that he would like to see more threads about what people are currently doing to make money

I’m wondering if there are other active (or aspiring) traders within the community

If you start new threads related to trading please make it obvious in the thread-name that it is a non-real estate topic – that way we can share trading ideas without detracting from the real estate focus of Rich’s website

~

I’ll lead off …

I’m currently long options on the February COMEX gold contract – I have call options at both the $810 and $820 strike prices – I was a little over-anxious to enter this trade and I paid more than I could have

Category of trade: pure speculation – only done with money I can afford to lose

Profit strategy: options expire Jan 28, 2008 – hold for test of $1000 price level – will take profit around the $940-960 level

Stop loss strategy: mental stop around the $760 level – otherwise stay long until expiration becomes an issue

Pyramiding strategy: if the Feb gold contract drops to $780 I will increase my position – holiday trading is light so gold might drop back to this level – right now it seems to like hanging out at $800

Big picture: I’m expecting a test of $1000 in 2008 (unless Santa has a surprise in 2007!) – and then a large reaction from the $1000 level – will go very long near bottom of this correction – next stop will be $1500+

[gold bashers please be gentle (“4plex you poo poo head” is OK) – I decided not to believe that gold was a barbarous relic and it has treated me quite well in return]

[New_Renter]

Good call 4Plex. I hope you are right! I’m a bit of a gold bug myself. It has been a great 3 years for holding GLD & SLV.

[New_Renter]

Good call 4Plex. I hope you are right! I’m a bit of a gold bug myself. It has been a great 3 years for holding GLD & SLV.

[New_Renter]

Good call 4Plex. I hope you are right! I’m a bit of a gold bug myself. It has been a great 3 years for holding GLD & SLV.

[New_Renter]

Good call 4Plex. I hope you are right! I’m a bit of a gold bug myself. It has been a great 3 years for holding GLD & SLV.

[New_Renter]

Good call 4Plex. I hope you are right! I’m a bit of a gold bug myself. It has been a great 3 years for holding GLD & SLV.

[Chris Scoreboard Johnston]

Good thread and thanks for spelling out your strategy completely. Your move to go heavily into gold a few years back was terrific.

In my trading service we have been trading the short side of this market for the last month and done quite well, although we have only done two trades. One made $32.7/ounce and the other aprrox $20/ounce, the multiplier in the futes is $100 per ounce, so handsome gains per contract.

Since the commercials have built their heaviest short position of all time, I am compelled to look at the short side here. However, at this point the trend is still intact on the long side, although barely.

Good luck on your trade, we will be on opposite sides at times on this one, but my timeframes are completely different than yours, much shorter. FYI, the ideal seasonal high for this market is January. If you look back in history you will see many tops in that Month. This does not mean every Jan tops, but odds favor it.

[Chris Scoreboard Johnston]

Good thread and thanks for spelling out your strategy completely. Your move to go heavily into gold a few years back was terrific.

In my trading service we have been trading the short side of this market for the last month and done quite well, although we have only done two trades. One made $32.7/ounce and the other aprrox $20/ounce, the multiplier in the futes is $100 per ounce, so handsome gains per contract.

Since the commercials have built their heaviest short position of all time, I am compelled to look at the short side here. However, at this point the trend is still intact on the long side, although barely.

Good luck on your trade, we will be on opposite sides at times on this one, but my timeframes are completely different than yours, much shorter. FYI, the ideal seasonal high for this market is January. If you look back in history you will see many tops in that Month. This does not mean every Jan tops, but odds favor it.

[Chris Scoreboard Johnston]

Good thread and thanks for spelling out your strategy completely. Your move to go heavily into gold a few years back was terrific.

In my trading service we have been trading the short side of this market for the last month and done quite well, although we have only done two trades. One made $32.7/ounce and the other aprrox $20/ounce, the multiplier in the futes is $100 per ounce, so handsome gains per contract.

Since the commercials have built their heaviest short position of all time, I am compelled to look at the short side here. However, at this point the trend is still intact on the long side, although barely.

Good luck on your trade, we will be on opposite sides at times on this one, but my timeframes are completely different than yours, much shorter. FYI, the ideal seasonal high for this market is January. If you look back in history you will see many tops in that Month. This does not mean every Jan tops, but odds favor it.

[Chris Scoreboard Johnston]

Good thread and thanks for spelling out your strategy completely. Your move to go heavily into gold a few years back was terrific.

In my trading service we have been trading the short side of this market for the last month and done quite well, although we have only done two trades. One made $32.7/ounce and the other aprrox $20/ounce, the multiplier in the futes is $100 per ounce, so handsome gains per contract.

Since the commercials have built their heaviest short position of all time, I am compelled to look at the short side here. However, at this point the trend is still intact on the long side, although barely.

Good luck on your trade, we will be on opposite sides at times on this one, but my timeframes are completely different than yours, much shorter. FYI, the ideal seasonal high for this market is January. If you look back in history you will see many tops in that Month. This does not mean every Jan tops, but odds favor it.

[Chris Scoreboard Johnston]

Good thread and thanks for spelling out your strategy completely. Your move to go heavily into gold a few years back was terrific.

In my trading service we have been trading the short side of this market for the last month and done quite well, although we have only done two trades. One made $32.7/ounce and the other aprrox $20/ounce, the multiplier in the futes is $100 per ounce, so handsome gains per contract.

Since the commercials have built their heaviest short position of all time, I am compelled to look at the short side here. However, at this point the trend is still intact on the long side, although barely.

Good luck on your trade, we will be on opposite sides at times on this one, but my timeframes are completely different than yours, much shorter. FYI, the ideal seasonal high for this market is January. If you look back in history you will see many tops in that Month. This does not mean every Jan tops, but odds favor it.

[EconProf]

BobS
This subject need not be considered far afield from real estate. We RE pessimists can sell builders’ stocks short, buy puts on them, or sell options. Can also do that for the stupid lenders, like Citigroup, Wells, WaMu, Merrill, etc.
In fact, this is a hedge for us RE owners, and thus a conservative investment philosophy, as it will cushion our net worth as the world falls apart.
Anybody here step up to the plate and do this? If not, why not?

[EconProf]

BobS
This subject need not be considered far afield from real estate. We RE pessimists can sell builders’ stocks short, buy puts on them, or sell options. Can also do that for the stupid lenders, like Citigroup, Wells, WaMu, Merrill, etc.
In fact, this is a hedge for us RE owners, and thus a conservative investment philosophy, as it will cushion our net worth as the world falls apart.
Anybody here step up to the plate and do this? If not, why not?

[EconProf]

BobS
This subject need not be considered far afield from real estate. We RE pessimists can sell builders’ stocks short, buy puts on them, or sell options. Can also do that for the stupid lenders, like Citigroup, Wells, WaMu, Merrill, etc.
In fact, this is a hedge for us RE owners, and thus a conservative investment philosophy, as it will cushion our net worth as the world falls apart.
Anybody here step up to the plate and do this? If not, why not?

[EconProf]

BobS
This subject need not be considered far afield from real estate. We RE pessimists can sell builders’ stocks short, buy puts on them, or sell options. Can also do that for the stupid lenders, like Citigroup, Wells, WaMu, Merrill, etc.
In fact, this is a hedge for us RE owners, and thus a conservative investment philosophy, as it will cushion our net worth as the world falls apart.
Anybody here step up to the plate and do this? If not, why not?

[Author]

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