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05-23-2012, 04:01 PM #6076
not sure where to post this - its very much like the dx futures, so hope this is ok
05-23-2012, 04:05 PM #6077
Originally Posted by Alejandro Zambrano
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
Last edited by root-minus; 05-23-2012 at 04:09 PM.
05-23-2012, 04:09 PM #6078
05-23-2012, 04:18 PM #6079
Did you go buy any physical gold last weekend? Is gold taxed there?
Originally Posted by stryker
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)
Last edited by SkiBunny; 05-23-2012 at 09:18 PM.
Reason: Typo: 1527 last week (not 1627)
05-23-2012, 04:26 PM #6080
Follow-up to the above, here is a pic of the comex gold vault from today (or maybe it is fort knox, lol)
05-23-2012, 04:40 PM #6081
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 InflationNation
05-23-2012, 04:49 PM #6082
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 Adrian Raymond
05-23-2012, 04:52 PM #6083
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..
Originally Posted by SkiBunny
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 ...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
05-23-2012, 05:00 PM #6084
what a dramatic rise at the end eh, chatter is merkel proposing an EU-wide bank guarantee...
Originally Posted by Adrian Raymond
05-23-2012, 05:38 PM #6085
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
05-23-2012, 07:40 PM #6086
ASX futures tech daily
ASX futures daily timeframe
05-24-2012, 12:49 AM #6087
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?
05-24-2012, 01:48 AM #6088
So I will put you down for 1520+ in the poll
Originally Posted by byways
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).
Last edited by SkiBunny; 05-24-2012 at 06:45 AM.
05-24-2012, 01:49 AM #6089
Gold options expiry thursday so dont give too much weight to a possible down day.
05-24-2012, 02:44 AM #6090
Never rush a trade. Make haste slowly.
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