Gold, Oil & Indices (Equity & Bond Indices)

Not sure if anyone trades the sports mkts here...but PAK V Australia test match the runs index has dropped by 200 points in 30mins...almost like trading Crude oil on a wed afternoon after inventories

Apparently when traders came back from lunch they found something they liked reversing indices and taking prices higher. The key will be if we have a solid close and follow thru in the coming sessions. Higher high and higher low with Crude finishing just over 1% higher in todays session. As Ive said in recent posts aggressive traders could buy dips as long as the 50 day MA holds.

Prices in Treasuries (30-yr bonds & 10-yr notes) have been unable to see extended upside this month. If prices fail to get above 12819 and 12318 soon aggressive traders could get short.

For the last two days the 100 day MA has held in August gold at $1179. As long as this persists traders can scale back into longs. At the moment were not convinced $1155 will not come into play so Im on the sidelines. Inside day in September silver with prices closing back above the 200 day MA. We see solid support at $17.30 and have advised to have small long futures position in September as long as that level holds. Additionally own December call spreads from higher levels and are down on the trade.

This article below summed up for me much of what is wrong with the whole field of economics and why our systems are so messed up. In my training I was struck at how much mathematics was used in order to turn it into a hard science, when in essence economic behavior is highly influenced by herd behavior and quite emotional. In contrast to this academic view I have seen much wisdom in some of the simplest precepts from the Austrian school of econ, including some of the writings by Peter Schiff:

Economics is Hard. Dont Let Bloggers Tell You Otherwise

In this essay, I argue that neither non-economist bloggers, nor economists who portray economics especially macroeconomic policy as a simple enterprise with clear conclusions, are likely to contibute any insight to discussion of economics and, as a result, should be ignored by an open-minded lay public.

Writers who have not taken a year of PhD coursework in a decent economics department (and passed their PhD qualifying exams), cannot meaningfully advance the discussion on economic policy.
http://www.scribd.com/doc/33655771/Economics-is-Hard

Good call so far SD.

@Catnip yeah u can trade london or Paris wheat