Tuesday, February 14, 2012

Flying Spaghetti Monster at a possible buy point

FVI, known on the US as The Flying Spaghetti Monster (FSM), is at its EMA(45).

Magical point, cos when you're just seeing a short-term correction in a medium-term uptrend, the EMA(45) seems to be a support point you can count on.

So if you wanted, buy FVI at $6.25, put a stop in for (say) $6.05, and your possible 20 cent loss can go up against a possible $0.75 gain ( that is, if you think FVI has any reason to go up to $7). Those are decent odds... especially cos I personally don't really think silver's going to go down much from here.

Um... next week's OpEx aside, of course.

I'm probably staying away from that trade cos I already have a whole pile of silver miners, and most of them (i.e. SBB) have already been beaten down already. They seem to be outperforming today.

But, buying FVI at this point might be a good idea.

Oops... silver just tanked... I'll let you go....

12 comments:

  1. The fed releases its January minutes tomorrow. I think that'll be an inflection point of some type

    ReplyDelete
  2. Looks like you talked a floor under it lol. Going to do the same when SBB starts dropping tomorrow?

    ReplyDelete
  3. Not sure...If you find out before they're released let me know!

    ReplyDelete
  4. Yup, I'm magical when it comes to convincing the entire market to stop selling a stock with $2M/day volume. Except, of course, in most cases.

    SBB's only direction is up, baby! To da moon, Alice, to da moon!

    ReplyDelete
  5. Fortuna Spaghetti Monster, or Ganoza's Noodly Appendage. I like.

    ReplyDelete
  6. http://mam.econoday.com/byweek.asp?cust=mam

    WED:
    FOMC Minutes
    2:00 PM ET

    Thur:
    Ben Bernanke Speaks
    9:00 AM ET

    ReplyDelete
  7. "Going to do the same when SBB starts dropping tomorrow?"

    Off by a day - K & AEM report after bell today not before. Look for more HUI weakness Thursday. About SBB, there have been opinions that AEM will take a write down on Meadowbank. I suspect this will bring some short term selling to SBB. Then again, Bernanke is suppose to talk tomorrow which on recent occurances has drove gold up $50.

    ReplyDelete
  8. OK, that's useful info. I could see $HUI staying weak for a bit - not enough miners have become oversold yet. But as for AEM's suckage hitting SBB: that seems to assume that SBB hasn't been sold off already, that nobody yet knows that Meadowbank sucks, and that nobody has noticed that AEM sucks.

    Sorry to be flippant... it's just that I'd suspect those are already priced in.

    ReplyDelete
  9. Yeah. I'm convinced now that it was just a load of people buying GDX that drove up the major miners. Because there's utterly no other reason for their share prices to go up. Maybe Goldgroup and Barrick and Yamana, but certainly not these other crappy companies.

    ReplyDelete

Don't bother commenting unless you have some useful information or valuable commentary to provide.

If you're a fucking tool, please go to Yahoo News for all your commenting needs.