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The Really Useless Thread

  • #88,621
  • May 16, 2012 3:46am May 16, 2012 3:46am
susceptible to short covering...

fak me if it can rally hard 50 pips on talk of an emergency ecb meeting, the very fact that ecb are viewing it as an emergency situation ain't exactly painting a rosy picture imo...

out for the morning.. trade safe, we're in dangerous waters.. bbl..
  • #88,622
  • May 16, 2012 3:48am May 16, 2012 3:48am
Quoting stewrigh
Ok I've decided I'm a stupid useless bastard and don't understand anything about markets.

Gold is dropping against the dollar - so ppl are selling their gold and buying dollars. Ok I sorta understand that bcos the dollar is strong atm though I don't understand why(risk off).

But gold is also dropping against the Euro, so ppl are selling their gold and buying Euros. WTF for chrisakes.

Confusing or wot
It is a sign of real risk across the board. In the last few years it happened with Lehman, when they downgraded the US and in the last serious round (2010) of risk/panic in the euro (when we tested 1.18xx..). Gold give very strong signals (back in Febraury/March) way in advance on the sell off. You can check some older post in this thread talking about this.

In general, when risk is perceived as a real threat, gold is not use as short term hedge on risk externalities but dollar is the ultimate haven. Also if you consider the current level in Treasuries, you can clearly see that is nowhere to go except dollar...

I hope it helps

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #88,623
  • May 16, 2012 3:51am May 16, 2012 3:51am
Quoting gatorinla
dont have it with my broker.. i wish i did
its finally rejected the mid of that last leg down, 2.95 is the mid of the big leg up from 2008...I was expecting it to trade a tad weaker...
Attached Image (click to enlarge)
Click to Enlarge Name: chart4.gif Size: 14 KB
Look Sharp/Trade Tight
  • #88,624
  • May 16, 2012 3:51am May 16, 2012 3:51am
Quoting PayTheLimit
copper is the new silver?
lol

no its a joke between ken and i... the copper boullion website says.... "copper is the new silver!"

funny shit
  • #88,625
  • May 16, 2012 3:51am May 16, 2012 3:51am
Quoting gatorinla
what makes gold so special? what can you do with it that you cant do with another cheaper metal.. its value is from ancient cultures. its a big hype..

if its so valuable, why would the minors exchange it for paper in the first place?
You been listening to the Bernanke??? lol
  • #88,626
  • May 16, 2012 4:02am May 16, 2012 4:02am
Quoting sisse
It is a sign of real risk across the board. In the last few years it happened with Lehman, when they downgraded the US and in the last serious round (2010) of risk/panic in the euro (when we tested 1.18xx..). Gold give very strong signals (back in Febraury/March) way in advance on the sell off. You can check some older post in this thread talking about this.

In general, when risk is perceived as a real threat, gold is not use as short term hedge on risk externalities but dollar is the ultimate haven. Also if you consider the current level...
I still expect to see some real volitility in there, this break has been orderly, as most have been....its a small market, and when the liqudity dries up, it will give us a good show...
Look Sharp/Trade Tight
  • #88,627
  • May 16, 2012 4:03am May 16, 2012 4:03am
Quoting PayTheLimit
its finally rejected the mid of that last leg down, 2.95 is the mid of the big leg up from 2008...I was expecting it to trade a tad weaker...
can u trade it directly from your fxbroker?
  • #88,628
  • May 16, 2012 4:04am May 16, 2012 4:04am
Quoting sisse
It is a sign of real risk across the board. In the last few years it happened with Lehman, when they downgraded the US and in the last serious round (2010) of risk/panic in the euro (when we tested 1.18xx..). Gold give very strong signals (back in Febraury/March) way in advance on the sell off. You can check some older post in this thread talking about this.

In general, when risk is perceived as a real threat, gold is not use as short term hedge on risk externalities but dollar is the ultimate haven. Also if you consider the current level...
Thanks Sisse,

I guess it's just the Euro gold bit I really don't understand - Euro is dying but it's going up against gold?????
  • #88,629
  • May 16, 2012 4:05am May 16, 2012 4:05am
Quoting fxjawn
can u trade it directly from your fxbroker?
I could, but its tighter through futures..
Look Sharp/Trade Tight
  • #88,630
  • May 16, 2012 4:05am May 16, 2012 4:05am
Quoting PayTheLimit
I still expect to see some real volitility in there, this break has been orderly, as most have been....its a small market, and when the liqudity dries up, it will give us a good show...
Talking of volatility - anyone looked at the VIX lately?
  • #88,631
  • May 16, 2012 4:06am May 16, 2012 4:06am
Quoting stewrigh
Talking of volatility - anyone looked at the VIX lately?
no, where is it at?
Look Sharp/Trade Tight
  • #88,632
  • May 16, 2012 4:08am May 16, 2012 4:08am
Here ya go

Attached Image (click to enlarge)
Click to Enlarge Name: VIX.jpg Size: 90 KB
  • #88,633
  • May 16, 2012 4:09am May 16, 2012 4:09am
Quoting stewrigh
Here ya go

Attachment
Break out with any luck
  • #88,634
  • May 16, 2012 4:13am May 16, 2012 4:13am
Quoting stewrigh
Here ya go

Attachment
thanks havent looked at it in a while, scroll back and check the high intraday during the 87 crash, 172.79 I think...smart index those caps at the CBOE came up with...
Look Sharp/Trade Tight
  • #88,635
  • May 16, 2012 4:15am May 16, 2012 4:15am
Quoting PayTheLimit
I could, but its tighter through futures..
they the fx broker just seems shady?

kinda worries me when fxcm and others just create contract style fx thing to trade
  • #88,636
  • May 16, 2012 4:17am May 16, 2012 4:17am
Quoting fxjawn
they the fx broker just seems shaddy?

kinda worries me when fxcm and others just create contract style fx thing to trade
that how they make money, they take a market thats 2 bid at 4, say, and quote you 1 bid at 5...
Look Sharp/Trade Tight
  • #88,637
  • May 16, 2012 4:19am May 16, 2012 4:19am
Quoting PayTheLimit
that how they make money, they take a market thats 2 bid at 4, say, and quote you 1 bid at 5...
right so why trade with them when the odds are stacked against you more than normal...


the market already has enough of the upper hand lol

like that pit trader guy says... "the markets a big whore... its looking to fuck everyone" lol
  • #88,638
  • May 16, 2012 4:21am May 16, 2012 4:21am
Quoting PayTheLimit
thanks havent looked at it in a while, scroll back and check the high intraday during the 87 crash, 172.79 I think...smart index those caps at the CBOE came up with...
RR looks god atm and I think things will get a lot more volatile over the summer - unless of course the Euro muppets actually come up with a plan to save the world.
  • #88,639
  • May 16, 2012 4:23am May 16, 2012 4:23am
Quoting stewrigh
Thanks Sisse,

I guess it's just the Euro gold bit I really don't understand - Euro is dying but it's going up against gold?????
Don't understand your point? Gold is traded as a commodity in dollars (like oil). Gold is taking a dive on risk and deflationary pressures via recession/economic slowdown. Euro is sold across the board for the same reasons.

Why and What makes you say that Euro is going up against gold? the differentials on the gold price in different currencies (if you need to do that ...but what for?) it just applying the exchange rate but the direction will be +/- the same...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #88,640
  • May 16, 2012 4:23am May 16, 2012 4:23am
Quoting fxjawn
right so why trade with them when the odds are stacked against you more than normal...


the market already has enough of the upper hand lol

like that pit trader guy says... "the markets a big whore... its looking to fuck everyone" lol
smaller size, tax and compliance reasons...but I'll tell ya what, just cause you have a screen, or you think you can get filled by hitting a button, if shit hits the fan, I dont think you can always count on getting out...
Look Sharp/Trade Tight
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