Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)

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Ashraf Laidi

Posted Anonymously

13 years ago

Apr 30, 2011 3:26

Chloe, very well said about Bernanke's green light for USD selling.

Here is what I said in my piece yesterday, which sums it up succinctly for now.

The contrasting monetary policy picture involving a tighter ECB/BoE/RBA relative to the Feds continued quantitative easing remains the main driver to the USDs downfall. Any periodic reverberations regarding peripheral Eurozone debt concerns, equity market pullbacks disappointing earnings have proven -- and will likely to continue proving an opportunity buy the dips in EURUSD, AUDUSD, gold and silver.

But I wouldnt agree with you about uninterrupted USD declines for another 3-6 months. I think June-July should see some kind of USD correction...the question is: will it be a rebound of more than 5?

chloethebull

halifax, Canada

Posts: 1183

13 years ago

Apr 29, 2011 20:12

its kinda funny to read all the pros tweets on how there calling the top in aud..eur..lol only to be proved wrong:)..as long as fed keeps rates low and continue to be dovish usdx is going lower ..ben already gave to ok for longs to stay long for another 3-6mths lol..gl guys :)

bigBaby

Singapore, Singapore

Posts: 21

13 years ago

Apr 29, 2011 18:46

looks like some folks out there are swapping their silver for gold

chloethebull

Canada

Posted Anonymously

13 years ago

Apr 28, 2011 20:42

thanks gun and i agree with ur range from the other day but decided to watch price action if we get near the 114 level ill look to short butwill have a tight stop:)

Gunjack

London, UK

Posts: 1184

13 years ago

Apr 28, 2011 20:32

@Chloe Im not shorting CL with real conviction (intra day scalps 15-30pips etc)....if anything best to play the range i mentioned few days earlier and buy the huge sell offs we are seeing once the Hedge fd algos get turned on ( abt 1.30-3.30pm london time)

On a side note there is large cluster of resistance around 114.10-20 region so you cd look for a short there as we will be getting there very soon (DX, SI and GC pointing higher prices)

Gunjack

London, UK

Posts: 1184

13 years ago

Apr 28, 2011 20:27

Dave - I heard the same abt soros liquidating commodity posns and that margins on CL futures had been hiked. Either way some truly crazy moves in CL recently...Those stop hunting algos are running stops up and down. Been beastly to trade recently

chloethebull

halifax, Canada

Posts: 1183

13 years ago

Apr 28, 2011 19:08

gunjack u still out there ..anythought on oil shorts yet..i was tempted earlier @11375 but decided best to wait for u dave asad to give the ok lol:)..gl/gt:)

DaveO

N.Cornwall, UK

Posts: 5733

13 years ago

Apr 28, 2011 18:06

Unconfirmed report that Soros funds liquidating long commodity positions.

DaveO

N.Cornwall, UK

Posts: 5733

13 years ago

Apr 28, 2011 14:57

It fell well short of 100% symmetry target on the 60 min correction down.