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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Jan 3, 2013 20:15
well I watched $2500 give back today right back to the 200dma. You might be right, this last move up might be 4:C with 5:C down now in progress. I was nervous about the pattern being $5 shy of symmetry coinciding with the 61.8% level.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Jan 3, 2013 19:28
damn, given back £25 gold. TY Mr Ben for hawkish comments. Crazy ideas that QE will end this year, mkts over reacting, QE will be permanent feature in our futures.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Jan 2, 2013 17:02
yes, good point and coincides with 100 and 55 WMA area
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Jan 2, 2013 15:28
George, for CL the 7th Nov low made the 70.7% ret level for the swing up from June low to Sept high. From that low it might have completed a 1 up and 2 down with 3 up in progress. It's also now above its 200 DMA so I am bullish unless it falls back below c.91.50. (current 93.50)

For gold (GC) it made $5 shy of 61.8% corrective ret for the same pattern as crude. Looks like clean ABC down from the 1798 high with the 100% symmetry coinciding with the 61.8% level at c.1630. That low made was also a failed break of the trend support line drawn from the 16th May low. Gold also is now back above its 200 DMA so I am bullish unless 1652 were taken out (current 1693)

I feel ready for a bout of irrational exuberance :-)
cat0nip
Frankfurt, Germany
Posts: 1632
11 years ago
Dec 21, 2012 22:39
Not so fast. Always rumor coming 1 minute before NY close. All one has to do is to place long and short stop entry above and below present price and whoopy...400:1 leverage CFD...
Its really that silly.
Now rumor: reduced fiscal cliff plan by white house may be passed by GOP. No idea what reduced plan is...
algos no idea either... never mind. But USDx and bonds reacted, EURx , too. Started fx spot EURUSD long EURJPY long right away.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Dec 20, 2012 20:53
In reply to Qingyu's post
yes he has the right attitude about being a basic insurance for worst case scenario
Qingyu
manchester, UK
Posts: 1763
11 years ago
Dec 20, 2012 20:42
btw, mauldin recent topic of gold is really interesting.
Qingyu
manchester, UK
Posts: 1763
11 years ago
Dec 20, 2012 20:34
In reply to DaveO's post
in this world, nothing is real, so does gold. if people believe gold is inflation hedge, then it is. as long as world dont have single currency, gold just work as proxy. euro is the first step, we are going to the single currency world.

in addition, manipulator dont need to sell real gold to asia, and at least the amount china gold import can be tracked.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Dec 20, 2012 20:15
Q, do you have any evidence for "not true" ?
Qingyu
manchester, UK
Posts: 1763
11 years ago
Dec 20, 2012 19:33
In reply to DaveO's post
that's not true.
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