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  • #175,681
  • Dec 27, 2009 1:49pm Dec 27, 2009 1:49pm
thx malcolme . very good information on ew eatios
  • #175,682
  • Dec 27, 2009 2:12pm Dec 27, 2009 2:12pm
Sky

Point is do not believe everything you read on the news. Did India really buy gold or was it just another ploy by the media / money people out there to get gold higher. There was a James Bond movie i watched this weekend about a media mogal launching his new channel. The things he did to make sure he had massive viewing were worse than most of the media stations do these days.... but trust me the media is used alot to manipulate market. Ask buyers of gold at 1200 how they feel now ? with a 12% draw down in 3 weeks.

remember when the news said oil was going to 200 ? well at 146 there was a very clear end of a rising market and oil dropped to 40 . That very same set up appeared on gold chart..... and gld at the very time that the news was telling everyone that gold was going to 1500. Have you heard anything on the news recently about how gold has dropped 12.5 % in a matter of 4 weeks ?

The GLD weekly clearly shows massive selling as soon as gold hit 1200. This is what drove me to sell gold 1210. I have already taken half off and am hoping for wave 2 retrace into 1120 ish to resell. Other half is break even .

If gold gets back above 1150 I wil reconsdier my position.

oddly enough if you check my postings on gold thread you will see 1050 was also my target $150 on gold is like a 1500 pip move on gu ....

Quoting SkyzerFX
This conversation actually pointless. So I'm going to leave it where it is.

Not sure why question the facts that India did bought 200 tonnes

(Not 20, as I mention earlier from IMF) at the price of $1050/oz

"Wong Eng Soon, analyst, Phillip Futures said: "At the end of the year, portfolio...
Blogging daily now at www.volume.zone
  • #175,683
  • Dec 27, 2009 2:16pm Dec 27, 2009 2:16pm
Quote
What do yo see as the driver for this kind of dollar strength in the face of such massive and projected US deficits? You must think that European budgets are worse and will debase more rapidly than US; true?

trademark, i am a chartist void of any fundie, i vehemently believe that the chart says it all. one thing i know for sure is this, if price retrace between 1.45 and 1.48 and drop down till 1.35. i will be very well convinced that we will see 1.0000 or near it.

this might take years and we dont know wot will bcome of dollar in terms of weakness or strength, am sure, people were shocked when NFP came out well far more than anticipated.

anything can happen but will be watching my levels, once the crown hits it possible tgt then we most highly likely see 1.0000

hope i made some sense
  • #175,684
  • Dec 27, 2009 2:16pm Dec 27, 2009 2:16pm
right now euro/usd 1.4388
  • #175,685
  • Dec 27, 2009 2:20pm Dec 27, 2009 2:20pm
http://www.moneycontrol.com/news/eco...f-_429739.html

note last sentence .... only India is protecting gold above 1000 and their purchase could not have come at a worse time

the article also talks about those that bought gold at 600 have yet to recover their investment from an inflation linked USD.

'Those who purchased the gold even at $500-600 haven’t recovered their investments in inflation adjusted USD. '

pretty interesting ....


back to what benefit do China have saying they will buy 10,000 tonnes over the next 10 years other than adding to the bubble so they can buy more us bonds at discount before selling them for a small fortune as USD rips up/

for those that love this fundie stuff .. this guys blog is great. I personally know him and have traded with him, he was an ex risk analyst for JP Morgan and now trades for syndicate. His bad weeks are several hundred thousand dollars and his good weeks over 1 mil.

http://m3financialsense.blogspot.com...3_archive.html
Blogging daily now at www.volume.zone
  • #175,686
  • Dec 27, 2009 2:20pm Dec 27, 2009 2:20pm
Figures on 2009 US government spending and debt,
don't forget to add SIX ZEROS on the end.

==============================

Total public debt subject to limit April 16 11,125,587 (11 Trillion)

Statutory debt limit 12,104,000 (12 Trillion)

Total public debt outstanding April 16 11,183,899 (11 Trillion)

Operating balance April 16 257,351

Interest fiscal year 2009 thru February 148,762

Interest same period 2008 198,518

Deficit fiscal year 2009 thru February 764,525

Deficit same period 2008 264,541

Receipts fiscal year 2009 thru February 860,877

Receipts same period 2008 967,153

Outlays fiscal year 2009 thru February 1,625,402

Outlays same period 2008 1,231,694

Gold assets in March 11,041

=================

Compare Gold assets to DEBT, or find out 11 billion$ of gold /$1000/oz

11,000,000 oz of gold

That's somewhere around 350 (+-) tones of Gold. That's ALL!!!

P.S

you can pick any source you want for that info

http://www.google.com/search?hl=en&s...&aq=f&oq=&aqi=
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  • #175,687
  • Dec 27, 2009 2:39pm Dec 27, 2009 2:39pm
RBI is the worst enemy by purchasing the X ton of gold. India is one of the largest consumer of gold particularly on the occasion of marrige. RBI has made the common mans life miserable by this purchase. In India the common man sells his land and other valuable to arrange the money for his daughters marriage and now he doesnt know what to do with the ever increasing price of gold

I personally wish the gold should crash and the RBI lose all the money on the latest purchase of gold

The money could have been used to improve the infrastructure of the country and make other development plans whereby the unemployment could have been reduced.
  • #175,688
  • Dec 27, 2009 2:41pm Dec 27, 2009 2:41pm
Quoting harigp
RBI is the worst enemy by purchasing the X ton of gold. India is one of the largest consumer of gold...
not only that but RBI did not even ask Indian citizens to buy their gold .....they bought off IMF. Just adding insult to injury
Blogging daily now at www.volume.zone
  • #175,689
  • Dec 27, 2009 2:41pm Dec 27, 2009 2:41pm
Quoting Naijafx
trademark, i am a chartist void of any fundie, i vehemently believe that the chart says it all....
I have never understood how the past PA, can alone be predictive of future PA, unless you can detect a repeating pattern achieved through manipulation. Price is a function of many things, but to say the euro will be 1.20 months or years from now, based simply on charting boggles me...sorry - I just don't get it.
  • #175,690
  • Dec 27, 2009 2:50pm Dec 27, 2009 2:50pm
put it this way ... should DJ have gained 60 % since lows based on fundie NO ... but it did ...

Quoting SkyzerFX
Figures on 2009 US government spending and debt,
don't forget to add SIX ZEROS on the end.

==============================

Total public debt subject to limit April 16 11,125,587 (11 Trillion)

Statutory debt limit 12,104,000 (12 Trillion)

Total public debt outstanding April 16 11,183,899 (11 Trillion)

Operating balance April 16 257,351

Interest fiscal year 2009 thru February 148,762

Interest same period 2008 198,518

Deficit fiscal year 2009 thru February 764,525

Deficit same period 2008 264,541

Receipts fiscal year 2009 thru February...
Blogging daily now at www.volume.zone
  • #175,691
  • Dec 27, 2009 2:52pm Dec 27, 2009 2:52pm
Quoting SkyzerFX
This conversation actually pointless. So I'm going to leave it where it is.

Not sure why question the facts that India did bought 200 tonnes

(Not 20, as I mention earlier from IMF) at the price of $1050/oz

"Wong Eng Soon, analyst, Phillip Futures said: "At the end of the year, portfolio...
have you actually carried any of the gold bullions to the indian central bank? it might just have been ferrero rocher which they bought.

analysts are muppets, if it goes up they have an explanantion , if it goes down they have an explanantion. hindsightraders. how many of those analystidiots have been wrong most of the time? most of them. and not only by accident if you like to follow some of the Goldman Sucks crooks.

we are in the biggest casino ever, the big money game. you are swimming in a tub full of sharks. and you know, the second best thing besides making money is preventing others from making money.

you think news are there to inform you? don't you think financial news are partially just another way of adverts of somebody wanting to sell you something or wants to buy something from you at discount? it all comes down to mislead as many as possible as long as possible, otherwise our society would not work. put some news (lies) up, make it all look very complicated, explain it by rockefeller invented economics and calculate it with highly complex mathematic formulas but in the end, it all can be seen on the charts, no matter which facade they tried to build around it.

call it propaganda at best, there is no other title for the thing which they claim to be news currently.

i think we have a good chance to see a decline on gold but distribution needs time. the current aggressive downpush speaks more for distribution than continuation. this process needs time and i am targeting some time 3rd quarter next year, after we made a second lower high on the weekly- and i bet we form a nice channel- to add big.

gold is just another commodity in the way we trade it, so why all this hype? cry for the delivery from the cme and they will laugh at you.

i really do not care about any of the analysts or prophecies...
everybody was/ is so uberbullish on gold that it is the best indication to join the sellside and it is pretty risky to bet on a rally before another leg.

it is always the same game..remember oil?
the sheeps forget such things just too fast, so you can create one bubble after the other, one crisis follows the other and you do not porfit since you are scared of propaganda.
  • #175,692
  • Dec 27, 2009 2:54pm Dec 27, 2009 2:54pm
Just Imagine the amount of money gone out of India with this stupidity. The Finance minister of India has said after this purchase that he is proud of this purchase because at one time India had to sell the gold reserve when the countries FX reserve reached the rock bottom during 1990.

This purchase is pure ego and not looking into the longterm approach may be to satisfy someone .
  • #175,693
  • Dec 27, 2009 3:30pm Dec 27, 2009 3:30pm
On Nov 6th FXPetra said:

"This advice is free, please feel free to disregard... but I believe this is a solid trading plan at present:

1) The Daily Trend is up, and has been up for several months

2) For Trend change, at least 2 conditions must present themselves:
a) The bottom Daily Channel line must be violated with a daily close
below. This is an upward sloping line, so the number changes
daily.
b) Next, the previous swing low must be violated with a daily close
below. This number is 1.4482. If these 2 things happen, we will be looking at potential trend change and start building short postions. Absent these conditions, buy pullbacks and enjoy your free money courtesy of the USA and their weak dollar policy!"

This man understands how to chart and trade. Too bad I did not know how to trade his advice properly.

Thanks FX. And keep 'em coming.
  • #175,694
  • Dec 27, 2009 3:50pm Dec 27, 2009 3:50pm
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 42 KB
  • #175,695
  • Dec 27, 2009 3:54pm Dec 27, 2009 3:54pm
Quoting constin
Attachment
nope. bounced, not broken.

check my previous post regarding the bounce and more.

http://www.forexfactory.com/showthre...36#post3327836
Attached Image (click to enlarge)
Click to Enlarge Name: 27.12.png Size: 31 KB
  • #175,696
  • Dec 27, 2009 4:01pm Dec 27, 2009 4:01pm
Quoting Dr.Geppynius
nope. bounced, not broken.

check my previous post regarding the bounce and more.

http://www.forexfactory.com/showthre...36#post3327836
This is the settings i use for my MA:
Attached Image

What setting do you use?
  • #175,697
  • Dec 27, 2009 4:03pm Dec 27, 2009 4:03pm
Quoting constin
This is the settings i use for my MA:
Attachment
What setting do you use?
i always use the closing price.
  • #175,698
  • Dec 27, 2009 4:08pm Dec 27, 2009 4:08pm
Quoting Dr.Geppynius
i always use the closing price.
I tried smoothed 200 close and works like yours.

Thanks,

Constin
  • #175,699
  • Edited 4:49pm Dec 27, 2009 4:33pm | Edited 4:49pm
Quoting harigp
Just Imagine the amount of money gone out of India with this stupidity.
Money? And what you mean by that? You cannot print OIL, nor GOLD,

but you can print paper "money" just fine.. By the way, GOLD is money, which you cannot counterfeit, as much as hungry

.gov wants.

Whole 2009 WORLD, and I mean

everyone was printing money, by TRILLIONS. GOLD actually should be

trading at $10000+/oz by now, if not Paper Gold (GLD and others)

funds/ ETF's manipulation. (which actually was created with attempt to keep price of GOLD under

control without using the real stuff. Naked short selling is one of them) Bunch of Wall street crooks

keeping show a live at all costs!

All kinds of funds trading "GOLD" with plastic bars in banks backing them up.

First what's going to happens is that COMEX (Crimex)

will default tomorrow, if every

trader will ask for Physical GOLD delivery with every purchase, cause there

is NONE, AIR behind it. Real price of GOLD much higher, not to mention

most GOLD average mining operations rose to $800-$900/OZ.

Look at it.. JAPAN 200% DEBT to GDP, USA 100% to GDP, rest of the world

not even better and you telling me, GOLD is actually overpriced???

Stop Printing Money and if you don't, GOLD will rise to infinite.

P.S

Great holidays discussion, mean while let's back to Biz, looks like Market start to

making some lazy moves...
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  • #175,700
  • Dec 27, 2009 4:42pm Dec 27, 2009 4:42pm
Quoting harigp
Just Imagine the amount of money gone out of India with this stupidity. The Finance minister of India has said after this purchase that he is proud of this purchase because at one time India had to sell the gold reserve when the countries FX reserve reached the rock bottom during 1990.

This purchase is pure ego and not looking into the longterm approach may be to satisfy someone .
Inflation in India is beginning to rise, so I imagine the deal was done to reassure the financial markets. It definitely wasn't done for the yield...
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