Tuesday 6 September 2011

Back in the UK

I'm baaaaack, and boy is it freezing back home.  It's no wonder so many  brits head mediterranean bound each year, (and in the twilight of their  years).





              


                



It  looks as though my call for a potential "Silver style" correction in  gold hasn't borne out, although the next few days should be interesting  since gold may be forming a double top;

Gold futures;






I made a very good call on GDX (Gold miners) back on 10th August on the gold thread on www.GlobalEdgeInvestors.com


"


Gold topped on 20th Feb 2009, 2 weeks before the stock market bottomed.


I  just  checked my proprietary DBDT indicator and it gave a buy signal on  GDX  by the close of trade on 10th August.  That's quite interesting for  me  since historically my indicator has been reasonably accurate with  GDX.

GDX buy signal 10th August;



GDX 1 year;


Also a buy signal on XAU (Gold/Silver index)

If  gold  remains at elevated levels and crude remains suppressed then I  would  certainly think there is a strong chance of a very large  upward  breakout for the gold miners."


GDX today with 10th August marked;




I also made a good call on EUR/USD before my trip abroad;


"
And how about the ugly sister?;

EUR/USD


The  first  word that came to mind here is - Precarious.  If I could  still  trade  through ThinkorSwim right now I would be minded to buy some  FXE  puts  here."




EUR/USD today;



I  would have lost buying puts on GLD but made decent gains on the other  two had I not been without a broker.  ThinkorSwim no longer offer  brokerage services outside the US and Canada, before my holiday I'd  instructed a new broker Mirus Futures to organise the account  transfer from TOS to them.  Nothing has happened.  I'm  having second thoughts about Mirus, I spoke to them on the phone before  my break and they told me not to worry, everything will be sorted blah blah blah. 

I'm now going to review my options regarding a new broker - Mirus have not inspired me with confidence.  They might have at least emailed me if  there was a problem, but there hasn't been any email or phone message  left from them.  On the plus side TOS advised me that my account would  be closed and I still have login access, including to  the Prophet charts I use to calculate my indicator charts, so that is very useful.  I can't count on it lasting though.

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