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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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cat0nip
Germany
Posted Anonymously
13 years ago
May 2, 2011 19:41
silver has nothing to do with bin Laden.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
May 2, 2011 19:29
closed out the oil short @113.45:) yaa lol..looking to re-short above 114 or if the 1-4hr close below 113.00..gl guys:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
May 2, 2011 18:05
qman i agree with that observation but mayb some1(gs) was leaked the info which lead to it ..ok gl ..oil following previous drop now looking for some excaleration:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
May 2, 2011 18:03
ok oil is back to the scene of the crime..previous price action showed heavy selling @this level all the way to sub 111..gl guys:)
Qiman
United States
Posts: 237
13 years ago
May 2, 2011 18:01
Not so sure the initial precipitous fall in silver had anything to do with the bin laden news, which came out quite a bit later in the session, correct? If I recall correctly silver fell within minutes of the globex session opening, most of it within only 12 minutes or so, and the BL news hit later that evening. (That is when the equity indexes soared, etc). The silver crash instead looked to me like a speculative attack on silver, perfect timing with much of the world on holiday and very thin trading, such moves often occur during these strategic windows . . .
chloethebull
halifax, Canada
Posts: 1183
13 years ago
May 2, 2011 17:46
oil finding a lil bit of support @ 113.25-50 level ..wanna c this candle close below 113.50 if not im covering for 1buk profit lol..:) gl
chloethebull
halifax, Canada
Posts: 1183
13 years ago
May 2, 2011 15:26
shorting oil again...114.45:)t/p112.25..gl guys:)
Gunjack
London, UK
Posts: 1184
13 years ago
May 2, 2011 12:37
even worse one of Britains greatest boxers died yday...Sir Henry Cooper...legend!!
Gunjack
London, UK
Posts: 1184
13 years ago
May 2, 2011 12:16
Bin Laden's death is not so much a filip as potential for more terrorist violence from lunatics now
Ashraf Laidi
London, UK
Posts: 0
13 years ago
May 2, 2011 7:02
Buying the BinLaden Metals Dip?

May 2, 2011 01:25 ET : News of Osama Bin Laden's death led to a knee jerk reaction rally in the USD, a $13 decline in gold to $1550 and a $3.4 decline in silver to $44.50. Since it is important to realize that the recent run-up in commodities (and especially metals) has been the product of QE2 policy and the FOMC's consistently dovish remarks regarding i) muted inflation; ii) downgrading growth and iii) planning to reinvest their mortgage securities payments, the monetary policy element of metals is to remain in favour.

Today's historic news is highly symbolic rather than a game-changer in geopolitics as AlQaeda has become a decentralized organisation with various local leaders vying for that global leadership position. There is even a possibility that these potential leaders could be fighting alongside Anti-Qaddafi rebels in Libya (alongside NATO) as was the case in the aftermath of the USSR-Afghan war. Bin Ladens death could have a short-lived positive impact on the US currency, which presents fresh opportunities for bottom fishing in EURUSD and AUDUSD eyeing ininterim targets at 1.4890 (from current 1.4790) and 1.1020 (from current 1.0940).

For the key support levels on my euro longs, please the Apr 29 version of my Premium Service in the link below, which can be obtained for free at 1-week trial:
http://www.ashraflaidi.com/ products/ sub01/

Ashraf
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