There are several ways to revalue the dollar in
terms of gold and make the U.S. dollar a hard money once
again. This would create a 100% gold dollar. Americans
as well as foreigners are used to conducting their exchanges
dollars so the goal is to regain the confidence of dollar holders
by ending the devaluation of the dollar.
All currency and demand deposits and other forms of money would
be convertible into gold. That would mean all forms of money that
people are familiar with would “backed” by gold. Inasmuch as
there about $1.6 trillion of this form of money outstanding that
would be backed by about 260,000,000 million ounces of gold held by
the Federal Reserve, the price of gold or more accurately the value
of the dollar would be 1/6,153 of an ounce of gold. In
other words, the price of gold would be
$6,153 per ounce.
According the Rothbard/Salerno definition of the “True Money
Supply,” the current amount of dollars in the economy that
functions as the general medium of exchange is about $5.5
trillion. Based on this approach, the FED’s 260,000,000
ounces of gold would have a dollar/ratio of 1/21,153, or the price
of gold would be
$21,153 per ounce. Before you mortgage the
house and sell the kids to make more than twenty times your money,
another economist challenges the Rothbard/Salerno definition of the
true money supply.
Economist Frank Shostak in his essay on the money supply,
argues that savings deposits should be removed from the definition
of money because they are a credit deposit rather than a demand
deposit. Based on the Shostak approach, investment manager
Mike Shedlock calculates M’, (M Prime), as approximately $2.2
trillion. The gold/dollar ratio would be 1/8.461 or a gold price of
$8,461 per ounceunder this definition of the money
supply."
Posted by junkmaylbox on 19th of May 2009 at 10:06 am
Steve(Dodger), I have the same question on the last chart
(before the mechanical systems) as well. Your wave 2 there --
described as ABCDE -- is higher than wave 1. Thanks!
Posted by junkmaylbox on 18th of May 2009 at 03:16 pm
matt, I would appreciate if anything we post here stays here and
does not go anywhere else. I would not agree to post here, if the
blog became a publicly accessible list.
Posted by junkmaylbox on 18th of May 2009 at 02:32 pm
matt, are you working with the formulas that define those
indicators and modifying them? I am curious. Please reply to me
personally if you are willing to give more information on it. If
I had time, I'd work out and program my custom indicators
too; hopefully I know enough statistics to do that. Thanks.
Posted by junkmaylbox on 18th of May 2009 at 10:50 am
DocM,
Two comments on what you wrote, if you allow. Knowledge is not
free. You paid for your education, didn't you? Two, TA is a bunch
of agreements and mechanical systems are knowledge about those
common agreements. They are very different.
I am personally very dismayed that because of his knowledge
being stolen, Matt would not be inclined to develop and share it
with the site any more.
Posted by junkmaylbox on 9th of May 2009 at 10:16 am
http://www.kitco.com/ind/Wiegand/may082009.html
He suggests to watch for a final rally and then continued
selling of bonds thereafter. TBT would be an instrument, and the
peak would probably coincide with topping for the stock market this
summer.
I guess he is saying that TBT is close to its temporary top.
Posted by junkmaylbox on 25th of Mar 2009 at 03:43 am
Groovey! I'll add to my position on an upward bounce tomorrow
then, as the mechanical system is about to produce a buy signal for
SKF. I love your charts. Thank, rp!
Posted by junkmaylbox on 24th of Mar 2009 at 10:21 am
It should get there. Please be patient or reduce your position
if the market goes up more. The thing to do is to reduce the
position when the market goes against you, or to reverse completely
if more upside is assured.
Posted by junkmaylbox on 24th of Mar 2009 at 10:19 am
Try downloading the mp3 file and playing it with a player of
your choice. If you can do that, the problem is with the browser;
if you cannot, the problem is with your network connection or
operating system.
panaspor, Several comments on what you wrote. One, I can feel
you pain. Losses, even paper losses, weigh hard on one's psyche.
What usually happens is that losses are realized at the very
bottom, right before a reversal take place. Others like take their
wins and they create pressure on you -- this pressure is very real
and physically felt to sell at the bottom to maximize their
profits. I am not good at handling that pressure myself, you have
to decide how much is bearable and unbearable for you.
Two, cutting losses short is a necessity, as market moves from
resistance to resistance, which could be far apart. It may retrace
your entry point, or it may not. You trade to make money, not to
pay someone for a ride at your expense. Most cup and handle
patterns last at least 7 weeks, that's how long it takes for the
losers to realize their losses. It could be longer. November lows
are March lows were 4 months apart, for a good reason.
Three, you should trade charts and not Elliot Wave stories. With
my due respect to Matt and Steve, they change their stories about
what current wave the market is in way too often to be reliable in
trading. Sometimes they are mistaken, not often but they do
mistakes. You should learn to look for yourself rather then depend
on their looking. Operating on their knowledge has a limited
applicability, unfortunately. You should develop your own, if you
are ever to succeed as a trader.
Four, I reckon that paying a small fee to have all the trading
tools necessary is cheaper than to pay a lot more in losses for not
having those tools. It should be obvious. If you found this site,
you are to learn trading for real or move on another site in
disgust that they don't tell you what to trade and when.
Five, for each trader there is a limit amount that he can
handle. Below that amount one makes gains, above it are steady
losses. That pattern is consistent, and it depends on your size as
a being (operating size). If you know your limit, you would be wise
not to exceed it most of the time.
Good luck with your trading! I hope you can reverse your
losses.
Posted by junkmaylbox on 23rd of Mar 2009 at 09:31 pm
Well, Matt, I was one of the posters with bearish
inclination for two reasons: one, I was expecting that wave 1 had
ended and wave 2 began. By definition, wave B up is not supposed to
go above the top of wave 1, and wave C down should follow. Two, I
lost money last week by entering a premature short on Thursday of
the preceding week, and was eager to make up those losses.
This market is tricky for a reason, I am inclined not to
over-analyze it but simply take it for a ride, in an old-fashioned
manner: down and then up without having to check its progress and
mess up with my interference. Hopefully one of these days it
will happen.
Posted by junkmaylbox on 23rd of Mar 2009 at 08:58 pm
No, Steve I have stayed in cash for the rest of the day. I burnt
myself a bit by trying to game pullbacks, so I decided to wait out
for a deeper pullback and then go long. I didn't want to go against
the market, it's way too strong here.
Once the resistance at 805 was clearly taken out, the upside
looked limited to me (810 to 825). Two factors confused me today:
one, the 5,3 stochastic daily was on a sell signal, and Matt's gap
handling strategy suggested selling the gap instead of buying it.
On the other hand, the magnitude of the gap this morning suggested
a huge up day, which it turned out to be prescient.
I only regret not taking profits on Friday, hoping to gain more
of them at the completion of wave 2.
I am going to review your selling cues from last night's
updates. I need to get a check list of buy and sell signals and
follow it like a drill. Perhaps, I should get a stockcharts
membership to be able to follow the $tick intraday charts or its
equivalent. Matt also mentioned the volume indicator today, I need
to figure out what it is.
Matt's intraday charts are really helpful when he posts them. So
are the strong support and resistance zones from nightly updates.
So are Matt's indicators on his charts. I learnt to follow MACD and
volume versus average volume, and get various signals from
mechanical systems on 5,6,15 and 30 minute charts. I have yet to
make good use of CCI(75), RSI(14). I don't have TRIX(15,9) on my
StrategyDest platform, only TRIX(10) whatever it means.
I am leaning towards swing trades now, so have a big picture for
a day ahead (up and down) would be helpful. I don't know how
feasible it is though, and whether or not you have time for such
prognosis. Matt works his tail off, no doubt about that :(
Thanks for your good work!
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
The community is delayed by three days for non registered users.
not possible, that's the SEC's
Question
Posted by junkmaylbox on 30th of May 2009 at 10:36 am
not possible, that's the SEC's requirement. You'll have to look for brokers outside the US then.
Why Gold Will Rise to at Least $6,000 per Ounce
Posted by junkmaylbox on 30th of May 2009 at 10:10 am
http://www.kitco.com/ind/Sabrin/may262009.html
There are several ways to revalue the dollar in terms of gold and make the U.S. dollar a hard money once again. This would create a 100% gold dollar. Americans as well as foreigners are used to conducting their exchanges dollars so the goal is to regain the confidence of dollar holders by ending the devaluation of the dollar.
the $SPX 60 minute chart from the last night's update
May 18 Recap - 15 Min $SPX
Posted by junkmaylbox on 19th of May 2009 at 10:06 am
Steve(Dodger), I have the same question on the last chart (before the mechanical systems) as well. Your wave 2 there -- described as ABCDE -- is higher than wave 1. Thanks!
market summary
spx and volume divergence
Posted by junkmaylbox on 18th of May 2009 at 06:57 pm
http://finance.yahoo.com/marketupdate/overview?u
matt, I would appreciate if
Blog can now send messages to Twitter
Posted by junkmaylbox on 18th of May 2009 at 03:16 pm
matt, I would appreciate if anything we post here stays here and does not go anywhere else. I would not agree to post here, if the blog became a publicly accessible list.
custom indicators
Intra Day market comments
Posted by junkmaylbox on 18th of May 2009 at 02:32 pm
matt, are you working with the formulas that define those indicators and modifying them? I am curious. Please reply to me personally if you are willing to give more information on it. If I had time, I'd work out and program my custom indicators too; hopefully I know enough statistics to do that. Thanks.
DocM, Two comments on what you
Scum
Posted by junkmaylbox on 18th of May 2009 at 10:50 am
DocM,
Two comments on what you wrote, if you allow. Knowledge is not free. You paid for your education, didn't you? Two, TA is a bunch of agreements and mechanical systems are knowledge about those common agreements. They are very different.
I am personally very dismayed that because of his knowledge being stolen, Matt would not be inclined to develop and share it with the site any more.
-Roy
Roger Wiegand suggests to be on a lookout for bonds
Posted by junkmaylbox on 9th of May 2009 at 10:16 am
http://www.kitco.com/ind/Wiegand/may082009.html
He suggests to watch for a final rally and then continued selling of bonds thereafter. TBT would be an instrument, and the peak would probably coincide with topping for the stock market this summer.
I guess he is saying that TBT is close to its temporary top.
Interesting comparison from bloomberg
Posted by junkmaylbox on 4th of May 2009 at 10:14 am
Only moving averages and MACD still work as strategies on their own, everything else taken exclusively does not
Of course, we know that no single technical indicator works on its own, anyway.
SKF mechanical system is to cross soon
Posted by junkmaylbox on 25th of Mar 2009 at 12:36 pm
rp, The SKF system is going to cross very soon.
What intraday indicators does he
This is an excellent site! There are a multitude of ...
Posted by junkmaylbox on 25th of Mar 2009 at 08:43 am
What intraday indicators does he use? You made me curious. Thanks.
Groovey! I'll add to my
Posted by junkmaylbox on 25th of Mar 2009 at 03:43 am
Groovey! I'll add to my position on an upward bounce tomorrow then, as the mechanical system is about to produce a buy signal for SKF. I love your charts. Thank, rp!
No, St Louis. I might
junkmaylbox are you in toronto?
Posted by junkmaylbox on 24th of Mar 2009 at 01:12 pm
No, St Louis. I might be in Toronto after August, might have to move there.
It should get there. Please
For those who were short coming into today, realize that ...
Posted by junkmaylbox on 24th of Mar 2009 at 10:21 am
It should get there. Please be patient or reduce your position if the market goes up more. The thing to do is to reduce the position when the market goes against you, or to reverse completely if more upside is assured.
Try downloading the mp3 file
Monday night update
Posted by junkmaylbox on 24th of Mar 2009 at 10:19 am
Try downloading the mp3 file and playing it with a player of your choice. If you can do that, the problem is with the browser; if you cannot, the problem is with your network connection or operating system.
Do ES futures translate directly
Levels on SPX Futures
Posted by junkmaylbox on 24th of Mar 2009 at 10:06 am
Do ES futures translate directly into $SPX points or there is a premium to them?
restart your computer or use
Monday night update
Posted by junkmaylbox on 24th of Mar 2009 at 09:59 am
restart your computer or use a different browser.
trading fundamentals
SPX 5 min chart.png Maybe? that's a 5 min chart so ...
Posted by junkmaylbox on 23rd of Mar 2009 at 10:42 pm
panaspor, Several comments on what you wrote. One, I can feel you pain. Losses, even paper losses, weigh hard on one's psyche. What usually happens is that losses are realized at the very bottom, right before a reversal take place. Others like take their wins and they create pressure on you -- this pressure is very real and physically felt to sell at the bottom to maximize their profits. I am not good at handling that pressure myself, you have to decide how much is bearable and unbearable for you.
Two, cutting losses short is a necessity, as market moves from resistance to resistance, which could be far apart. It may retrace your entry point, or it may not. You trade to make money, not to pay someone for a ride at your expense. Most cup and handle patterns last at least 7 weeks, that's how long it takes for the losers to realize their losses. It could be longer. November lows are March lows were 4 months apart, for a good reason.
Three, you should trade charts and not Elliot Wave stories. With my due respect to Matt and Steve, they change their stories about what current wave the market is in way too often to be reliable in trading. Sometimes they are mistaken, not often but they do mistakes. You should learn to look for yourself rather then depend on their looking. Operating on their knowledge has a limited applicability, unfortunately. You should develop your own, if you are ever to succeed as a trader.
Four, I reckon that paying a small fee to have all the trading tools necessary is cheaper than to pay a lot more in losses for not having those tools. It should be obvious. If you found this site, you are to learn trading for real or move on another site in disgust that they don't tell you what to trade and when.
Five, for each trader there is a limit amount that he can handle. Below that amount one makes gains, above it are steady losses. That pattern is consistent, and it depends on your size as a being (operating size). If you know your limit, you would be wise not to exceed it most of the time.
Good luck with your trading! I hope you can reverse your losses.
Well, Matt, I was one
one thing I've noticed is that the posters on the ...
Posted by junkmaylbox on 23rd of Mar 2009 at 09:31 pm
Well, Matt, I was one of the posters with bearish inclination for two reasons: one, I was expecting that wave 1 had ended and wave 2 began. By definition, wave B up is not supposed to go above the top of wave 1, and wave C down should follow. Two, I lost money last week by entering a premature short on Thursday of the preceding week, and was eager to make up those losses.
This market is tricky for a reason, I am inclined not to over-analyze it but simply take it for a ride, in an old-fashioned manner: down and then up without having to check its progress and mess up with my interference. Hopefully one of these days it will happen.
No, Steve I have stayed
SPX 5 min chart.png Maybe? that's a 5 min chart so ...
Posted by junkmaylbox on 23rd of Mar 2009 at 08:58 pm
No, Steve I have stayed in cash for the rest of the day. I burnt myself a bit by trying to game pullbacks, so I decided to wait out for a deeper pullback and then go long. I didn't want to go against the market, it's way too strong here.
Once the resistance at 805 was clearly taken out, the upside looked limited to me (810 to 825). Two factors confused me today: one, the 5,3 stochastic daily was on a sell signal, and Matt's gap handling strategy suggested selling the gap instead of buying it. On the other hand, the magnitude of the gap this morning suggested a huge up day, which it turned out to be prescient.
I only regret not taking profits on Friday, hoping to gain more of them at the completion of wave 2.
I am going to review your selling cues from last night's updates. I need to get a check list of buy and sell signals and follow it like a drill. Perhaps, I should get a stockcharts membership to be able to follow the $tick intraday charts or its equivalent. Matt also mentioned the volume indicator today, I need to figure out what it is.
Matt's intraday charts are really helpful when he posts them. So are the strong support and resistance zones from nightly updates. So are Matt's indicators on his charts. I learnt to follow MACD and volume versus average volume, and get various signals from mechanical systems on 5,6,15 and 30 minute charts. I have yet to make good use of CCI(75), RSI(14). I don't have TRIX(15,9) on my StrategyDest platform, only TRIX(10) whatever it means.
I am leaning towards swing trades now, so have a big picture for a day ahead (up and down) would be helpful. I don't know how feasible it is though, and whether or not you have time for such prognosis. Matt works his tail off, no doubt about that :(
Thanks for your good work!