Thread: Discuss Commodities and Stock Market Indices

London session review and outlook May 8 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.




Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.

Originally Posted by kadabra

Maybe I should start watching that Bulls vs Bears... Would have resulted in a great profit today instead of a big loss

Of course you should do that Kadabra how is your OMXS30 trading going?

Originally Posted by adz2k11

well worth joining, alejandro is a great help and will reinforce your own research/analysis

Thank you buddy

London session review and outlook May 8 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.




Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.

Not good unfortunately, I'm still so struggling with using stop loss...

Edit: I'm sorry but what's the link to the daily Bulls vs Bears?

Edit 2: found it on your Twitter

Originally Posted by Alejandro Zambrano

Of course you should do that Kadabra how is your OMXS30 trading going?

Originally Posted by Ikee

Your wedge bottom is worth watching.........

Wedge obviously broke down and a close below 1600 is the next domino to watch
(gold seems to respect round numbers more than Fib points – witness today action).

The last COT nailed this drop… It will be interesting to see Friday’s COT with today’s cutoff: what of the commercials’ shorts?

How to buy $1600 gold for $432. Probably the worst stock sector for the last 12 months. Now far below the March 2009 low.
Could drop more but time now to start accumulating some I think?

1592-94 possible coming in as atleast a temp low..
A break under points to 1555-57 move..
1611-12 is immediate resis with actual bigger one residing at 1630-32 ..

Anyways pretty simple self explanatory chart..
On daily it could be categorized as a descending wedge notching a vote up for the bulls..

I suspect a consolidation here b.w 1592 and 1612 b4 breaking higher for a 1630ish and then a drop down to 1604-05 b4 a lift off.....
Wake me up once its trading time.............. time for zzzzzzzzzzzzzzzzzzz'sssss...

GL...

Interesting day, seems the confusion in the indices remains. FTSE finished right on its 200 day sma. Quick take on the SPX is bearish and looking to 1350 and new lows under 1373, while above 73 looking to 90 - 93.

Originally Posted by tradetime

Interesting day, seems the confusion in the indices remains. FTSE finished right on its 200 day sma. Quick take on the SPX is bearish and looking to 1350 and new lows under 1373, while above 73 looking to 90 - 93.

Yes interesting indeed. We got a decent bounce of the 1350 level - Oil traded also lower today but bounced back - Yen is also weaker - Given this I think its might be worth considering going long just above 1350 looking to reach 1375 and possibly 1390. The trade long position would excited with a loss on a breakout under 1346

Originally Posted by kadabra

Not good unfortunately, I'm still so struggling with using stop loss...

Edit: I'm sorry but what's the link to the daily Bulls vs Bears?

Edit 2: found it on your Twitter

I understand - but if I remember right then you are an FXCM client - If you still have your account then you should check out the educational videos on https://plus.dailyfx.com/tnews/home.do?ib=dailyfx

Så du slutar höfta med dina positioner och får lite struktur

Originally Posted by SkiBunny

Switzerland Singapore and Hong Kong are now SOLD OUT of private physical vault space for gold… Phone ViaMat for confirmation.

Nothing available for at least another 3+ months (unless you can buy someone else’s secured gold for a very large premium)

Time for wealthy europeans (and others) to panic now… those who waited this long are too late! .

People can't buy their own safes? If today was any indication gold could have much further to drop in a real panic sell off

Hi all

New member and new trader.
Im a Vietnemese, English is not good...

Well, I started easy with $1000 but went back to warrants on Avanza after finally losing $930 of them :O Thought I felt more comfortable with warrants...but I'm not sure now, heheh.

I will try to check that out. I think my biggest problem is that I don't take my trading seriously for some reason. Hade nästan 900tkr och satsade mot 1milj, istället nu ett år senare 250tkr kvar).

Originally Posted by Alejandro Zambrano

I understand - but if I remember right then you are an FXCM client - If you still have your account then you should check out the educational videos on https://plus.dailyfx.com/tnews/home.do?ib=dailyfx

Så du slutar höfta med dina positioner och får lite struktur

Originally Posted by SkiBunny

How to buy $1600 gold for $432. Probably the worst stock sector for the last 12 months. Now far below the March 2009 low.
Could drop more but time now to start accumulating some I think?

My hat's hanging lower than where I left it last week but the nice thing about these gold mining stocks is the forward looking market has already discounted their prices substantially to make things a lot safer for early grazers and eager bulls.

So long as we are in fact in a consolidation phase of a secular bull run then we will be ok in the not to distant future. In order to be completely wrong I think we would need a dollar rally on considerable interest rate hikes, like 3 to 4 times current levels, which I don't think will happen. The HUI is now at 400 support so we could be near the bottom here, or maybe 375 is in the cards if gold breaks down toward 1550-75 for a spell.