- 2,522
- 12
- Joined
- Jun 24, 2007
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: this_feature_currently_requires_accessing_site_using_safari
Are you referring to the actual bullion or the gold stocks? I've been watching RGLD over the past couple weeks and am in some equity.What's your opinion on it given it is right at its 50DMA.Originally Posted by Dey Know Yayo
considering the fed is monetizing treasury purchases, shorting treasuries probably won't be trade of the year--- gold will.
on second look, gold is extended here and no longer a buy, too far away from 50dma. i expect a retracement from next week to early to mid march and then i will buy in big again. well see what happens, the charts will tell us.
overall market seems to be following bank stocks. if banks are bought on geithner's speech, market probably starts bouncing, otherwise it honestly could go down back to novermber lows. i think oil is the play right now and like i said in a few weeks precious metals again. gold is a hold right now, not a buy, but also not a sell. a hold.
8:17 CT
Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not "automatic selling"; this is forced liquidation.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."
Link
Took a look at the charts and he's right.
Recent rumors of Russia defaulting? Coming to pass? Most Russian debt is held by Euro and Japanese banks.
Some speculating that Japan is playing the currency market.
Others say that it may have to do with Woori Bank in S. Korea.
I guess we should know by market open tomorrow.
The euro also weakened against 14 of the 16 major currencies on speculation its recent declines triggered the execution of automatic sell orders. The yen dropped to a five- week low against the dollar after Japan's Finance Minister Shoichi Nakagawa said today he would resign after budget bills are passed in the nation's parliament.
Link: http://www.bloomberg.com/...2LsycfWo&refer=europe
I don't think we're near a bottom. If anything we have to test 7500 again and if we can't keep that then look for the next historicalsupport level. We prob need to test 7k and rebound to put in that real bottom for the short and medium term. 7k would be around 50% off of the heyday high near14300. I still think 6800 isn't out of the question.Originally Posted by nicefro
wawa, i just read that on the google boards and then looked at prophet charts for gbp/usd and then all other major currencies. that is extremely out of the ordinary.
is it safe to say we're near a bottom @ DOW 7200 or are we headed into complete freefall?
Down 28% on my FAS position.
With the Walmart earnings, Obama's signing of the bill (although that's old news probably already priced in) coming this week we'llsee, tomorrow should be interesting. I'd say either a little rally back up to 8000/8100 or we break 7700.Originally Posted by wawaweewa
Only question is will we crash this week or sometime in march (after a run up through Feb.).