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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:Gold bugs, the warning was the H&S pattern on 4hr chart yesterday - the neckline 1795 is totally broken. The monthly candlestick is forming an inverted hammer. Gold will be a sell the whole of October as the central banks flood banks with useless dollar liquidity. Though dollars are being flooded, gold cannot rally since it was a defensive play with eurozone default being the drive.
Obviously my USDCHF long trade is now scrapped after this coordinated dollar hurricane! Interesting how things have changed within 5 trading days.
I short gold to test sell momentum and it works with all the euroland default tension!
I scrap my USDCHF long due to 4 CBs (ECB, SNB, BOE and BOJ) conducting a coordinated dollar swap line with the Fed and USDCHF flies from 0.86 to 0.91... But everything under the ponzinomics this is very normal of 'free' markets!? Bizarro markets!   
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:@Ceinz - remember margin call... A lot of traders will sweat blood with this volatility...
EURUSD - another 200pips plunge today... Remember the margin call.  “small step for man”
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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Gold . WOW and its friday !!!!!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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QW25081985 wrote:Gold . WOW and its friday !!!!!! I hope this gold thing can get to $1500 and silver below $25 for a proper buy up for the next parabolic launch... Below $1540 S.Korea's CB gold purchase level in July 2011 will be under water. That will be one of the solid entry levels.
Reuters wrote:
UPDATE 2-Bank of Korea buys gold, first time since '97-'98 crisis - Mon Aug 1, 2011 7:21pm EDT
The Bank of Korea said in a statement its latest gold purchase was valued at $1.24 billion. It did not say whether it had bought gold bullion or funds.
At 25 tonnes of gold, equivalent to 803,769 ounces, the average price paid comes to $1,543 an ounce, based on Reuters calculations.
A Bank of Korea official said it was the bank's first gold purchase since at least the 1997-1998 Asian financial crisis.
I still think this weekend and the next, euroland will have some nasty announcement that is yet to be priced in...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Mystery of gold, silver & copper tanking rout solved. CME group hikes margin requirement by 21%, 15%, and 18% respectively. These days the ponzi masters dont give a hoot about admitting their manipulation! A blank admission that they can no longer suppress prices, but rather starve the capital flow piling into gold & silver contracts. One JP Morgue would be happy to see silver cheaper than its JPM stock price for obvious reasons. http://www.scribd.com/do...48/Gold-Margin-Hike-9-23$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Btw there was a rumour about EURCHF peg being hiked to 1.25 from 1.20. Seems SNB as usual is nervous of Mr Market's attempt to force his way against the peg... We will see by Dec 2011 where this drama will be holding... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Very annoying garbage from lame stream media on gold. BS is an understatement... http://www.theglobeandma...r-safety/article2178376/$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Trade update - TP for gold short placed @1610. This is where I exited the long as this metal rallied to 1920. After looking at the charts a strong support is seen @1580 - 1590 zone. Also with S.Korea CB entry @1540 zone, these levels will encounter solid defence of buy demand. Gold short position off after TP @1610 was hit yesterday. Gold price went down to $1535 and as expected met sizable buy demand to push the price back above $1600. I expect another shot at $1500 - 1550 before the selling is fully absorbed. Any level below $1550 are accumulation levels for the next rally aiming $2500.
Silver to hit $28 and got picked up and pushed above $30. Just like gold I expect another test of $25 - 28 for accumulation before any rally can start likely to break $50.
I'll stick to shorting euro banks, accumulation of gold/silver (gold/silver stocks too) and dollar buying (short term - just to ride the dollar squeeze). $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Trade ideas... Longs USDSDG - Order placed @1.250 - I'll be heavy here USDZAR - Order placed @7.500 - I'll be heavy here USDCAD - Order placed @0.9800 USDCHF - Order placed @0.8810 Yap - all dollar longs... Shorts EURUSD - time to short the ugly sister pair - @1.3800 AUDUSD - @1.0100 NZDUSD - @0.8100 Gold/Silver trade will be updated later. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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market looks choppy .... am waiting for a better trade ..
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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Trading shorts on: AUDUSD NZDUSD EURJPY GBPJPY Trades placed today 28th sept @ 8am Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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Long AUD/USD 0.9855, target parity (Fibs play) “small step for man”
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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am short euro/dollar ....TP at 1.3560
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:
Gold short position off after TP @1610 was hit yesterday. Gold price went down to $1535 and as expected met sizable buy demand to push the price back above $1600. I expect another shot at $1500 - 1550 before the selling is fully absorbed. Any level below $1550 are accumulation levels for the next rally aiming $2500.
This will be a retest of 200 Daily SMA. Nice support area to long this metal. “small step for man”
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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Ceinz wrote:Long AUD/USD 0.9855, target parity (Fibs play) stopped out at b/e.  “small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:Trade ideas...
Longs
USDSDG - Order placed @1.250 - I'll be heavy here
USDZAR - Order placed @7.500 - I'll be heavy here
USDCAD - Order placed @0.9800
USDCHF - Order placed @0.8810
Yap - all dollar longs...
Shorts
EURUSD - time to short the ugly sister pair - @1.3800
AUDUSD - @1.0100
NZDUSD - @0.8100
Gold/Silver trade will be updated later.
Seems my trade targets will not be triggered soon. The $ is strengthening as the squeeze continues with the flip flop euroland debt talks.
Has anyone noticed the USDCAD has regain the parity handle and zooming up looking to test at least 1.08...! Commodo currencies suffer the most during the $ squeeze.
Gold/Silver are holding steady, but I want them lower before I start buying. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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Am short euro.
I thought all these greece problems have been factored in. ?
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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QW25081985 wrote:Am short euro.
I thought all these greece problems have been factored in. ? Na bado. Those Greece bonds (1yr - 2yr) yields say that when SHTF it will be really nasty. I had a look at SNB half year books aka balance sheet, I don't know why the swiss are not on the streets protesting. Currently trader pit rumour is Dexia bank board is holding an extra ordinary meeting. I expect this bank to be nationalized any time soon with a bad bank being setup just like during UBS half life in 2008... If you look at the hammering the global bank stocks have taken since Wednesday, the outcome likely soon.
BoA, that stock that WB bought preferential shares, not market shares back in Aug when $6 was under threat of breaking is now well below $6. Those that got suckered into this buy hype by the oracle, have got it in the chin just 5 weeks later. D. Trump also bought this BoA rug - at least he admits he's not good with stocks - http://seekingalpha.com/...d-trump-recently-bought
Stick with the Apprentice show, its better
And the same stock he's trying to rescue, bites the hand that is feeding it!
http://www.readthehook.c...mp-over-albemarle-house
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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For the PM traders - http://www.tfmetalsrepor.../blog/2570/forging-ahead$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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RHYMING HISTORY & REPEATING FUTURES
Try this
Oct. 3, 2008: SPX=1099.23 ; VIX=45.14
is to
Oct. 3, 2011: SPX=1099.23 ; VIX=45.45
As
Oct. 10, 2008: SPX=899.22 ; VIX=69.95
Is To .........
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