Thread: Discuss Commodities and Stock Market Indices

not sure where to post this - its very much like the dx futures, so hope this is ok

Originally Posted by Alejandro Zambrano

Is that the S&P500? Gaps in the stock markets do they tend to get filled as the gaps in the currency market?

Hi, it was the FTSE - and it bounced exactly from that gap area, will see how it re opens for possible buy



gaps in the indices are far more frequent and are much more reliable to trade than fx, they offer good RR when they hold with easy stop placement with respect to gap size, l much prefer indices to fx


markets very rarely DON'T fill a gap

Originally Posted by stryker

Looking at USD to head for a corrective bounce.... expecting a 1550-90 range to be played out..

GL..

Did you go buy any physical gold last weekend? Is gold taxed there?

The price on gold coins did not fall much last week when the comex price fell to 1527 as physical premium mostly rose in reaction. And now there are shortages of physical. GLD losing 18 tonnes a day to help bailout LBMA as the East is happily draining western gold on price dips.

There were several SELL signals issued today for Gold. As before, when things look bleak and there is a huge red candle and a sick feeling in the stomach, it is a time to accumulate, at least for the long-term.

I bought a bit today but my price paid was $1650 not $1530 … premiums above 7% seem the norm.

Let’s bookmark this and check back in 2013 how bad these $1533 SELL calls were (and how low the dollar falls in 2013 too)

Follow-up to the above, here is a pic of the comex gold vault from today (or maybe it is fort knox, lol)

Originally Posted by InflationNation

But, I'm not buying AU, I'm buying gold stock

Seems the smart money is flowing into gold shares... +4% today and +2% before even on days the stock market and comex gold price fall

Originally Posted by Adrian Raymond

No way we're ending in the positive today, but I think that it will take a lot to break the next supports.

Well, the supports were tested. Low of 1295.9 for the SP500. It's going to be interesting to see what happens towards the end of the week since the next resistance is at the 1327 level. I think I'll stay out and watch the spectacle from afar to see where we end the week.

Originally Posted by SkiBunny

Did you go buy any physical gold last weekend? Is gold taxed there?

The price on gold coins did not fall much last week when the comex price fell to 1627 as physical premium mostly rose in reaction. And now there are shortages of physical. GLD losing 18 tonnes a day to help bailout LBMA as the East is happily draining western gold on price dips.

There were several SELL signals issued today for Gold. As before, when things look bleak and there is a huge red candle and a sick feeling in the stomach, it is a time to accumulate, at least for the long-term.

I bought a bit today but my price paid was $1650 not $1530 … premiums above 7% seem the norm.

Let’s bookmark this and check back in 2013 how bad these $1533 SELL calls were (and how low the dollar falls in 2013 too)

Be going this weekend for some gold rush physically.... Wifey excited. me well........... investment mode yes, but I know I won't be able to sell none..
you got the hala for a 1661-63 sell earlier and myself was not expecting this big drop.. anyways... 1566-67 is resis on rallies and 1654-55 supp.. this supp holds can see a move towards 1590 once more.. USD will stay on the mind for now for it yet has to show a positive it wants to drop.. It surely did a magical number 10207 earlier today...... Possible top for some correction mode but still need to show few signs for it to be happening.. you can check a whole layout on USD did on the eur.section 2-3 hrs back ...

GL>.....

Originally Posted by Adrian Raymond

Well, the supports were tested. Low of 1295.9 for the SP500. It's going to be interesting to see what happens towards the end of the week since the next resistance is at the 1327 level. I think I'll stay out and watch the spectacle from afar to see where we end the week.

what a dramatic rise at the end eh, chatter is merkel proposing an EU-wide bank guarantee...

At least somebody realizes how much these ETFs distort market prices of commodities. Hopefully JP Morgan won't be able to screw up the copper market like they screw up their derivatives trading
http://www.ft.com/intl/cms/s/0/a7d32...#axzz1veIyOilw

ASX futures daily timeframe

Seems we have a double - double bottom in gold. 1537, 1522, 1527, 1533 since last September, unless we are in for new lows.

Anyone been shorting it since before then?

Originally Posted by byways

Seems we have a double - double bottom in gold. 1537, 1522, 1527, 1533 since last September, unless we are in for new lows.

So I will put you down for 1520+ in the poll

A new low sometime until July/Aug on increasing volatility. Turnaround later in summer.
Otherwise, a rally from 1527 last week through July, followed by sell-off in Aug/Sept.
Which alternative depends mostly on US and Eurozone, right?

Bias is short comex gold and long physical & shares.

Also continue to short crude against long nat gas… Hot summer against cooling in both the global economy and Iran tension (temporarily).

Gold options expiry thursday so dont give too much weight to a possible down day.

Originally Posted by Ikee

Gold
I have been short on Gold from 1621.56. Will hold ‘til convinced of Northerly turn. All currencies have continual annoying 60% to 75% retracements. Why should Gold be any different..??? Next target 1550 then 1440.…..

Getting closer to my original target...............Now I have my sights on 1300. It should go something like, 1470..1560....1300ish........