Market Traders Chewin' The Fat

[Eagle-Keeper]

@Exodus

Back to risk. Watch for the next OMG event. Things such as North Korea testing a previously untested ICBM that drops into the ocean off the coast of New Mexico. Or war breaking out between Iran and Saudi Arabia, or anything similar. That is a risk-off panic-on situation and the price of Gold will move a lot as players don’t know what to do for the best.

My experience with risk is that ETF’s like TZA or TVIX are more reliable and perform more consistently than say ETF’s like NUGT or JNUG. Although you definitely do not want to hold them for very long, they will drop back down just as quickly as they shoot back up.

[Eagle-Keeper]

@Exodus

Back to Gold. Players would not normally hold Gold unless they had a real reason to do so. This is because there is an associated storage cost, you pay monthly to own Gold (unless you take possession and stick it in your safe). Additionally, as I mentioned before in association with risk, when rates unexpectedly do not move there is perhaps a better reason to invest in other instruments such as stocks: Gold is sold to buy e.g. stocks and therefore the price of Gold falls.

I completely agree with you that for investment purposes in the stock market I view Gold as largely dead money. When it comes to buy and hold investing I view vehicles like XME as a much better way to go.

[AlexC]

[asaratis]

@Exodus

Back to risk. Watch for the next OMG event. Things such as North Korea testing a previously untested ICBM that drops into the ocean off the coast of New Mexico. …

The coast of New Mexico? That’s a new one on me.

[Exodus]

@asaratis

The coast of New Mexico? That’s a new one on me.

New Mexico has no coastline ? … Duh!

Let’s try Baja peninsula then…

[Leatherneck]

Weeks trades. Couldn’t get a handle on PA Tue and Wed. Todays trade covered. This could be a big drop.

[Leatherneck]

Keep a tight stop on spikes. Don’t want to give up too much profit if draggi utters some nonsense and runs other way.

Took profit at 35. Got errands to run. Draggi done. Prolly time for a breather.

[Exodus]

I am just watching for a possible long entry at ~ 1.1234

[Leatherneck]

U braver than me!

[Exodus]

In @ 1.1233

Will watch this…

[Leatherneck]

B creful, mate. I’m waiting for tomorrows employment figures before I look for another.

[Exodus]

Out against my stop. Small position, small loss.

Now to see if I was just too early … which is the usual!

[Leatherneck]

Sorry for the loss. I’m not considering longs at the moment – too much “air” below at the moment. Expect it to dribble down or sideways till employment tomorrow – could be a defining moment.

[Exodus]

It was small, no worries.

There has been such a big drop after Draghi said basically “no interest rate rise this year, and there will be some more TLTROs in September”. So I was playing for a retracement…

However … there is no doubt that EU is in a down-channel at the moment.

[Leatherneck]

Yep. Could even break out of this long running H&S. If get fair retrace and a good pin, I’ll probably try another short – just hafta wait and C.

[Exodus]

@StuFX

Sorry Ex. I discussed this level back in Oct when we were still at freebird.

Good call, it held today

[Exodus]

Well that was a surprise in the NFP

A measly 20k growth in employment
Average earnings up
unemployment rate down by 0.2% to 3.8%

here … sniff this fish

[AlexC]

EURUSD,Weekly

[Magog]

@Exodus

A measly 20k growth in employment

That should kill any chance of another hike on 20th Mar

[Exodus]

IG has tick volume !

…and while I was poking around I discovered that TV could be used along with PA to spot significant levels. It might take a while mashing through all that data on the 1-minute chart though.