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Old 06-04-2009, 05:47 PM
Vanishing Nomad Vanishing Nomad is online now
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Default Forget the stock market, look at Gold & Crude Oil



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Both crude Oil AND Gold seem to have started new up trends!

Crude oil, Weekly Futures chart
http://futuresource.quote.com/charts...2C9%2C18%29%3B

Gold Weekly Futures chart
http://futuresource.quote.com/charts...2C9%2C18%29%3B

The Gold does not seem to be as solid, but if it breaks the most recent weekly high, it could easily form a very strong bullish pattern. I think we are at the start of the next run.
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Old 06-04-2009, 05:50 PM
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The father of my son's girlfriend just lost $500 thousand in GM stocks. He's very, very upset over this, according to my son.

I'd say, at this point, to get all of your money out of stocks.
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Old 06-04-2009, 05:53 PM
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Thanks for the charts Royal Dragon, very interesting information.
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Old 06-04-2009, 05:55 PM
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Originally Posted by Brimasmom View Post
The father of my son's girlfriend just lost $500 thousand in GM stocks
Hmmmmm...time for a new girlfriend?

Seriously Brimasmom, that sucks big time. I can't imagine having that much money let alone losing it. Hopefully he had other investments.
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Old 06-05-2009, 09:18 AM
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Quote:
Originally Posted by Brimasmom View Post
The father of my son's girlfriend just lost $500 thousand in GM stocks. He's very, very upset over this, according to my son.

I'd say, at this point, to get all of your money out of stocks.
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This is why I prefer to day trade (When I actually have money to trade that is). You get in while it is going your way, and later that same day you exit and take profits. Sure, you rack up more commissions that way, BUT by keeping daily involvement, you are more likely to NOT be in the market when it crashes because you never got your daily entry signal in the first place.

That is why day traders are the wealthiest traders. They simply aren't in the market when it all goes south. They sacrifice some extra commission fee's, for the security of ONLY being in the market for short hops when the market is moving strongly in thier direction, then getting out before it has time to change directions.
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