In the market

Well Thailand and some short term work are finished for a while so have a break to earn some money in the markets. Action in the ASX has been sideways for a while since August to date within basically a 400 point range. Gold has been correcting and now is consolidating around US$1600ish although Iran issues might see it quickly spike up.
Into OGC at $2.05 with a target of $2.50. ROL entry at $1.20 with $1.50 target. CHN entry at .27cents was looking at exit at .34cents now revised and will exit today at .27cents or market. LSA entry at .90cents target of .97cents.
OGC and ROL trades going to plan at $2.28 and $1.37, LSA still at 90 cents.

 

Making The Most Of Today

Markets looking in better shape already dipped feet in and have exited again. Just can not figure the direction of the market right now so decided to bale out and will spend a month in Thailand away from everything again.
Todays plan is to leave the charts alone go pack the bag, have a leisurely lunch, then go watch Wales beat Ireland in the Rugby World Cup and enjoy a few bottles of mercury cider my last for around a month.
Think I will have an early night as need to be at the airport fairly early tomorrow, then its 2 nights in Bangkok and a month in beautiful Issan with my beautiful girl.
Hopefully the water stays out of Bangkok when I am there really did want to go to a flooded country however the trip was booked and planned.
Prediction for the reminder of 2011:
ASX to reach 4500 by year end
Gold US$1850 by Xmas
 

Clobbered and I saw the Possibility

GFC2, debt crisis, recession whatever you want to call it arrived last week and king hit me, all stocks exited apart from KSO and ADU didnt even know it happened really. I was caught with my pants down I was caught on a contract job and failed to listen to any media or access the internet. Three stocks hit stops, KSO and ADU still holding up I have decided to hold as I see some money possibly coming back into some gold stocks.
How low how long this bear market will continue is anybody's guess worrying times ahead.  Now I have some cash its a matter of picking a reentry point, this however could be months away even longer. Gold has gone through the roof and $US2000 is not unreasonable now if we see a QE3 arrive. QE did not work before however it looks like we will get more so the object now is, make some money when the market picks up, Cash will be king again at least for us Australians.

In And Fingers Crossed

I lost my motivation to trade with traveling and the odd job here and there. Back in Sydney for a while after two months in Thailand again and a month in WA.
The bank account needs to regenerate so have dipped my toes in the water (market).
Think I have managed to buy low and will trade out on any significant drop in the gold price which looks like making US$1650. Holding ADU, ROL, KSO, OGC, IAU and showing some healthy gains already with the exception of KSO.
What amazes me is that gold shares seem to be lagging the gold price my hope is that the cousins overseas manage to put their house in order which should see the US markets react positively and continue their bull runs.
Gold should hold support going forward at US$1600 and traditionally gold shares do follow the market up even if the gold price stalls a bit.
Giving myself 4 to 5 weeks to make myself some money and then its back to Thailand.
I just cant escape the rain it followed me all the way from Thailand to Perth and now to Sydney.

Back and Trading

Disappeared overseas to Thailand for a month and then have almost spent six weeks in the NT managed to see Katherine Gorge, Litchfield National Park, Edith Falls etc survived Cyclone Carlos and then have had a week in Perth.
Still holding MDL and TGZ and have made purchases in ADU, ROL and OGC.
Gold is looking very strong this morning at US$1433 and gold shares are holding well despite the overall market
being down. Expecting gold to make US$1500 in this run fueled by crude and the everlasting threat of inflation.
Not a great day to watching the market its at a point where it could go in either direction, if the uptrend is over and the direction is down I am expecting gold stocks to defy the market direction and make gains this month.

Big Day Coming

An early awakening saw the laptop go on at 5.45am this morning and although not a surprise to see the DOW up, the plus 2% increase at 244 points was and its still climbing as I type.

Purchase of SLR at $2.14, along with ROL are the only real trades at the moment. ROL can't seem to lift itself looks like there is a push to keep the thing down for some accumulation, it closed right on $1.90 after slipping below this critical level the previous day to a low of $1.82 and close of $1.85. My stop was almost triggered, it looked like $1,90 was providing solid support and would be the base for the next leg up this may still be the case with just a small slip below.
CHN and PSP still held no real action here.
MDL still not trading yet after a share consolidation and in specie distribution. I will receive some shares in Teranga after MDL demerges its operations. 
Looking forward to an up day my attempt to re-enter ADU did not eventuate, will be looking this morning to make some trades.

November Improving

IAU trade was positive with an exit yesterday at $1.985 it closed previously at $1.87 as soon as I sold as I expected it to meet resistance at around $1.99/2.00 it flew up to $2.13 c'est la vie. I really can't complain I netted just short of a grand. ADU 38,000 sold today at 74.5cents up 3 cents on the trade, I was a bit nervous holding over the weekend with the DOW so erratic and gold flat. ADU was at its previous high closing price and later hit 77 cents. There is a need to take profits sometimes when they are there. Will look to get back in again on weakness as I am sure this may have blue sky ahead if the DOW kicks up and gold continues seasonal.

Purchased another parcel of ROL yesterday at $1.92 trading around $1.94 today on very low volume, I am sure this will test $2.00 again.
MDL is still held it climbed back up and will now under ago a 10 to1 share consolidation before coming back on the market.
IAU will also me to purchase up to $15,000 of shares at $1.78 as I was a holder on the 22nd November when the capital rising was announced, currently IAU is $2.11 seems to good to be true that's a gain of almost $2800 if the price holds.
CHN turning out to be a dog, still held, buyers now in which may indicate it may turn.

PSP also still held believe this could be another ROL I badly need a 10 bagger.

A Month Gone Wrong

I find myself somewhat disinterested when markets decline, however one can not afford to be if a living is desired from trading.
Stocks held remain the same apart from OGC which seems to be acting unlike a gold stock, it is off approximately 25% from not long ago highs. I can't see any reason to hold this stock presently. From one of the best performers of late its turning into the opposite. The lat two trades in OGC have been losses. IAU is a different story with again some positive trades netting between 2 and 6 cents, currently back in on IAU at $1.92 Monday 22nd with the stock going into a trading halt the next morning with a capital rising at $1.77, hopefully I won't take to big a hit.
Of other stocks ADU sold at 74 cents and reentry at 71 cents this stock is holding up nicely and looks promising with a gold pour on hand shortly.
MDL looks like its in trouble and an exit is on the cards this morning.
ROL, PSP and CHN continue to hold they look long haulers.
Gold has moved back up again overnight despite the DOW losing 142 points and the US dollar strength, tensions on the Korean peninsular look to be the driver. 

The Month Of Gold

I do think we will see gold make some higher highs this month before a pullback, US$1450 is achievable in this current wave with the possibility of a 5th wave extension.
Stocks held medium term are still CHN, PSP and ROL with ROL the only positive amongst them.
Currently have entry in OGC, ADU, MDL amd again IAU all postive.
Look to exit OGC this morning performance here is disappointing and feel there are better opportunities elsewhere.
Have a target of 80 cents on ADU and $1.50 on MDL. IAU, will expect to trade in and out with 2 to 3 cent wins.
US markets all positive overnight will see us open up expect trading to remain somewhat flat with some gains in gold stocks again. It would not surprise however to see the All Ord's challenge and close slightly over 4,800, the overall direction of the market is still not clear and till we are over 5,000 I am not totally convinced that we are in a bull market despite what the great majority think.

The Week That Wasn't

It's been a very ordinary week my focus on gold stocks has seen some lost opportunities elsewhere however I still believe over the next 12 months gold stocks will provide the largest gains.
Trading has been almost non existent this week a lack of motivation and some earlier week sunshine is to blame a tan is starting to redevelop.
ROL is still ahead a sudden rise in the price of gold will see it take off. Entry into IAU at $1.735 on Tuesday is holding up, the stock has support at the $1.70 mark and closed at all time high during the week $1.78.
PSP and CHN have dropped and only a gold price increase combined with news will get these moving in the short term.
US markets currently not inspiring and could go either way very much news driven presently and so sensitive.
Correlation between XAO and DOW not so evident have no data to back this up just an observation. There have been periods when both indices have not followed the same path, it would be fine thing if the Aussie did go its own way.
Gold moving back up as I write a few early trades may be possible tomorrow morning.