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  • #365,541
  • Jan 16, 2011 12:50pm Jan 16, 2011 12:50pm
Quoting FibbinArchie
Lol, can we just agree that by usage of the word "gap" we are referring to the change in price from 10pm GMT Friday night to that of 10pm GMT Sunday night. The discrepancy of course being accounted for by interbank trading over the weekend...

Since the majority of us use retail broker feeds, who close down over the weekend we can see a physical gap on our charts...

Does that placate everyone? Or perhaps we could think up a word other than "gap"
well, instead of "he change in price from 10pm GMT Friday night to that of 10pm GMT Sunday night." i still call it GAP.
  • #365,542
  • Jan 16, 2011 12:50pm Jan 16, 2011 12:50pm
GAP TIME
rat
  • #365,543
  • Jan 16, 2011 12:50pm Jan 16, 2011 12:50pm
Quoting FibbinArchie
Lol, can we just agree that by usage of the word "gap" we are referring to the change in price from 10pm GMT Friday night to that of 10pm GMT Sunday night. The discrepancy of course being accounted for by interbank trading over the weekend...

Since the majority of us use retail broker feeds, who close down over the weekend we can see a physical gap on our charts...

Does that placate everyone? Or perhaps we could think up a word other than "gap"

lets call it dumb.
Hero calls followed by margin calls...
  • #365,544
  • Jan 16, 2011 12:52pm Jan 16, 2011 12:52pm
Talking abut Gold. Somebody help me understand. Why would I own it? If everything goes to hell in a hand basket and let's say I was "smart" enough to buy physical gold overtime, what am I going to do with it in that scenario? Am I going to be able to buy necessities with it? If so, what will it's value be? Is gold going to be swapped for a failing currency? At what ratio and who will determine that? The market? maybe...

So unless you are trading it I am not sure I would buy gold or gold backed instruments as long term investment for that matter.

I'm not sure if I was able to articulate something that is mostly based on what I feel than any scientific theory.
  • #365,545
  • Jan 16, 2011 12:52pm Jan 16, 2011 12:52pm
Quoting Robert99
...for my part ALL BETS are off as relates to all Asset Classes except for the hard Assets such as Gold, Silver and others.
In the rest of your post, I can't really find anything to take factual issue with (other than there still is Morgan Stanley, Brown Brothers, Allen, and a few other boutiques).

While not as much the Bear as you, I'd just add to the above quoted: Food and Fiber. Don't forget food. But since land can be valued in megacalories yield per acre/hectare, I suppose that's a hard asset class as well.
  • #365,546
  • Jan 16, 2011 12:52pm Jan 16, 2011 12:52pm
Quoting FibbinArchie
Lol, can we just agree that by usage of the word "gap" we are referring to the change in price from 10pm GMT Friday night to that of 10pm GMT Sunday night. The discrepancy of course being accounted for by interbank trading over the weekend...

Since the majority of us use retail broker feeds, who close down over the weekend we can see a physical gap on our charts...

Does that placate everyone? Or perhaps we could think up a word other than "gap"
If that accounts for 99% of fills, you can name it 'Suzzie' if you want, but that will still be good deal for me. Besides, you must have a decent broker to see the correct one.

P.S I expect a big dollar rise this week
  • #365,547
  • Jan 16, 2011 12:54pm Jan 16, 2011 12:54pm
Quoting FibbinArchie
Lol, can we just agree that by usage of the word "gap" we are referring to the change in price from 10pm GMT Friday night to that of 10pm GMT Sunday night. The discrepancy of course being accounted for by interbank trading over the weekend...

Since the majority of us use retail broker feeds, who close down over the weekend we can see a physical gap on our charts...

Does that placate everyone? Or perhaps we could think up a word other than "gap"
LOL. We all look for whatever we think will work. Sometimes they do and at other times they don't. This is how our accounts get to thier logical ends.
The Thief of Wall Street
  • #365,548
  • Jan 16, 2011 12:55pm Jan 16, 2011 12:55pm
Quoting attila
Talking abut Gold. Somebody help me understand. Why would I own it? If everything goes to hell in a hand basket and let's say I was "smart" enough to buy physical gold overtime, what am I going to do with it in that scenario? Am I going to be able to buy necessities with it? If so, what will it's value be? Is gold going to be swapped for a failing currency? At what ratio and who will determine that? The market? maybe...

So unless you are trading it I am not sure I would buy gold or gold backed instruments as long term investment for that matter....
As long as there will be mankind, there will be need for a better exchange of value, comparing to the barter. Gold is the last one to fail.
  • #365,549
  • Jan 16, 2011 12:58pm Jan 16, 2011 12:58pm
Have a nice trade all...
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  • #365,550
  • Jan 16, 2011 12:58pm Jan 16, 2011 12:58pm
Quoting Maxsmart
That is very interesting Robert. September and the months around then are usually my Gold trade. What are you anticipating the affect may be on the EUR/USD?
From WWW.JSMINESET.COM

If Gold goes up it usually is helpful to EUR/USD since usually as US Dollar Index breaks down Gold goes up except for short term situations like we might have now. The price of Gold going however is not in the interest of most central banks as it is the Canary in the Coal mine. Follow GATA for very good information on this ongoing conflict.

This was posted before the PDF chart I posted ealier today. If the price of Gold goes up EUR/USD should follow however there are conflicting issues as well as we all know. The race to the bottom is on and this week on Wednesday China and USA square off so be very careful trading this week. The GAP we just saw might be nothing compared to some unlikely break through between the CREDITOR and the DEBTER.

Trader Dan Comments On This Week’s COT Report

Posted: Jan 15 2011 By: Dan Norcini Post Edited: January 15, 2011 at 8:14 pm
Filed under: Trader Dan Norcini
Dear Friends,
The weekly Commitment of Traders Report released yesterday (Friday) has a detail that I believe merits bringing to your attention.
Managed Money, which is basically the hedge funds, is now down to the lowest level of net long positions held since July 2009. They are now down nearly 86,000 net longs from the point at which gold made its recent record high. It should be noted that the COT report only covers through the Tuesday of the current week and therefore does not catch any developments in the markets that occur Wednesday through the close of trading on Friday. On Tuesday, gold closed at $1384. By Friday it has dropped over $30 from that level as additional fund long liquidation was underway. The point is that the net long position of these hedge funds has undoubtedly dropped to an even lower level.
In spite of the relatively low level of fund long side exposure, gold is sitting a mere $70 off its all time high. That bodes well for gold moving forward as any “froth” that might have been in the gold market from the hedge fund community has been to a great extent wrung out.
The general public, the small specs, who generally tend to buy at tops and sell at bottoms, is still relatively high on long side exposure but I suspect a larger number of them have been flushed out in Friday’s steep drop. They do not generally have pockets deep enough to sustain drops of large magnitude and are most often the recipients of “courtesy calls” from the margin clerks.
The other reportables, which includes the CTA’s and large local and private traders are a bit extended to the long side yet so we will have to see whether or not the shorts can try to further flush this camp. They have generally been averaging a net long side exposure of near 40,000 contracts. As of Tuesday they were near 57,000 which was also probably further reduced in the subsequent price action of Thursday and Friday. We might need to see this camp bleed down a bit more before feeling confident enough that the liquidation from their quarter has been exhausted.
All in all, while the COT report is not bullish, it certainly cannot be considered bearish and might even be called a tad friendly particularly based on the now greatly reduced long side exposure of managed money accounts, which are the real drivers of today’s commodity markets. When this camp begins to return to the gold market in size is when we will see the next leg higher commence.
By the way, the last time that the Managed Money was at this level of net long side exposure, the price of gold was trading at $922.
  • #365,551
  • Jan 16, 2011 1:07pm Jan 16, 2011 1:07pm
acording to COT report at 'Jan 11' large traders drop all their EUR/USD positions - this is ring-a-ding bell for me...
  • #365,552
  • Jan 16, 2011 1:09pm Jan 16, 2011 1:09pm
Latest from Trichet ...
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  • #365,553
  • Jan 16, 2011 1:10pm Jan 16, 2011 1:10pm
Quoting FibbinArchie
Lol, can we just agree that by usage of the word "gap" we are referring to the change in price from 10pm GMT Friday night to that of 10pm GMT Sunday night. The discrepancy of course being accounted for by interbank trading over the weekend...

Since the majority of us use retail broker feeds, who close down over the weekend we can see a physical gap on our charts...

Does that placate everyone? Or perhaps we could think up a word other than "gap"
Ok ... here is my suggestion ... 'ONLINE TRADERS GAP' ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #365,554
  • Jan 16, 2011 1:13pm Jan 16, 2011 1:13pm
gap time
rat
  • #365,555
  • Jan 16, 2011 1:14pm Jan 16, 2011 1:14pm
Quoting Abu-Rami
Have a nice trade all...
hmm ... yes ... beautiful ... have a nice one as well ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #365,556
  • Jan 16, 2011 1:16pm Jan 16, 2011 1:16pm
Quoting mercy seat
Ok ... here is my suggestion ... 'ONLINE TRADERS GAP' ...
Or how about Retail Feed Gap RFG?
  • #365,557
  • Jan 16, 2011 1:16pm Jan 16, 2011 1:16pm
Quoting mercy seat
Ok ... here is my suggestion ... 'ONLINE TRADERS GAP' ...
actually I spoke with my broker a while back, this is what I was told & it can't be, or I should say 'hasn't been' dis-proven yet ...

so you have 'forex trading' gap compared to the value of the actual currency which doesn't gap of course...

Quoting mikej2010
okay guys', for education and curiosity purposes, I just called & spoke with my broker.

Basically the reason for the 'gap' {and they said there is one} is because the 'interbank' market {not a centralized exchange but the communication platform /trading platform between banks, etc} is closed on the weekends and is open 5-5.5 days a week.

Interbank trading begins in 'wellington New Zealand and ends in the New York Market.
Quoting mikej2010
There is a floating rate over the weekend due to commerce, news, etc. but with Forex Trading through the Interbank, that is 100% closed on the weekends.

Now you can make respective trades with banks {airports, open brokers, etc} on the weekend, but that isn't based off of the Forex Interbank market.

So the gap is basically the close of the Interbank market to the open of it, where individual price gaps are shown are within a broker opening and closing hours of operation....
  • #365,558
  • Jan 16, 2011 1:18pm Jan 16, 2011 1:18pm
Quoting mikej2010
Want me to some up this week in "cloggie" talk ...

Muppet, muppet, GO LONG FOR 5 PIPS ... {5 minutes later} OH I CALLED THAT 10 DAYS AGO, A BUNCH OF MUPPETS HERE , muppet , THERE IS NO SUCH THING AS A GAP, I am out of here .. done with this thread ... {5 minutes later} ... Muppets ... {5minutes later}... OKAY THIS TIME .... I am really done ...

edit-

oh yeah, mix in some copy/past dailyfx & forexlive
But he is a very good trader and come on, you'd miss him on here if he went to another thread...
  • #365,559
  • Jan 16, 2011 1:19pm Jan 16, 2011 1:19pm
Quoting mikej2010
Want me to some up this week in "cloggie" talk ...

Muppet, muppet, GO LONG FOR 5 PIPS ... {5 minutes later} OH I CALLED THAT 10 DAYS AGO, A BUNCH OF MUPPETS HERE , muppet , THERE IS NO SUCH THING AS A GAP, I am out of here .. done with this thread ... {5 minutes later} ... Muppets ... {5minutes later}... OKAY THIS TIME .... I am really done ...

edit-

oh yeah, mix in some copy/past dailyfx & forexlive
Good one as well ... he he ^^
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #365,560
  • Jan 16, 2011 1:22pm Jan 16, 2011 1:22pm
Quoting mikej2010
Latest from Trichet ...
DJ Trichet on the decks, jungalist massive...
393 traders viewing now