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Wednesday's Economic Events
MBA Purchase Applications
7:00 AM ET
PMI Manufacturing Index Flash
9:45 AM ET
New Home Sales
10:00 AM ET
EIA Petroleum Status Report
10:30 AM ET
5-Yr Note Auction
1:00 PM ET
108,000 contracts so far traded today GCM4.
Sounds like conflicting signals, take an aspirin and have a Big Mac, not necessarily in that order. :)
I'm flat right now, but looking to go long, my trigger finger is shaking, so that means something, what it means, I dont' know. :)
Yep, if the equity markets crap out, the miners won't have a leg to stand on, but if theequity markets go for a kick finish and gold recovers, all bets are off on the short side. We'll see how the drama unfolds. :)
Yep, if the equity markets crap out, the miners won't have a leg to stand on, but if theequity markets go for a kick finish and gold recovers, all bets are off on the short side. We'll see how the drama unfolds. :)
100% of economists think yields will rise within six months
http://blogs.marketwatch.com/thetell/2014/04/22/100-of-economists-think-yields-will-rise-within-six-months/
Usually if gold isn't still tanking at 2:30 pm, it's a buy, under normal conditions, problem is, what is normal? ")
The talking heads seem to think miners move first, then the shiny stuff.
Yep NY, tricky little devils those miners, now what does gold follow, or does it pave it's own way? :)
NUGT getting legs, gold to follow?
Richmond Fed Manufacturing Index
consensus 0 actual 7
Existing Home Sales
10:00 AM ET
Richmond Fed Manufacturing Index
10:00 AM ET
Well, that's why they call you Goldfinger, another fantastic trade, you should give lessons. :) I'm trying to use your Goldfinger technique, but always get out way too soon, classic Chickenfinger. :)
I was hoping you caught the ride from 1281, I liked the pin action at the close for a long position, we'll see when those crazy Asian's come on board at tonight, if it pulls back before 8:00 pm I might snag a long position and go into Asian hours with a song, a prayer and tight stop. :)
What's the game plan NY?
Yes, but my wife will not allow a Ouija board in the house, so there goes that advantage. :(
Hey Kap, well it seems that the shiny stuff has lost it's mojo for now, perhaps it's due for a pop, but you know how that goes, I'd worry about further downside if we crack 1279. Some chartists still believe 1400 to 1500 in the upcoming weeks, others are saying 1180, best consult with your 8-Ball or Ouija board on that one. :)
Morning NY, nope I didn't buy gold Thursday, was looking for a better price, so missed yesterday's downdraft, but it did reoover briefly to 1303 then resumed the tankola to 1281, darn missed that entry. Maybe it's lucky I didn't trade yesterday or this morning, I've been digging up a waterline at my place to fix a leak, now have a giant mudhole. Fun and games, seems like this shiny stuff is more wacko than usual.
What Does Slowdown In China Mean for Gold Prices?
http://www.munknee.com/sell-u-s-stock-market-coming-mean-gold-prices/
Gold's Cycle is in Left Translation - Free Weekly Technical Analysis Chart - McClellan Financial
http://www.mcoscillator.com/learning_center/weekly_chart/golds_cycle_is_in_left_translation/
Gold and Silver Report: Gold Prices Fall on Ukraine Agreement | InvestorPlac
http://investorplace.com/2014/04/gold-and-silver-gold-prices-ukraine/#.U1FVnye9KK0
A Technical Look At Gold | Live Trading News
http://www.livetradingnews.com/a-technical-look-at-gold-2-45257.htm
Prepare For A Severe Drop In Gold, Silver and Mining Sector | Stock Market Summary (NSDQ, NYSE, AMEX and more) on Boston.com
http://finance.boston.com/boston/news/read?GUID=26967179
Futures File: Gold melts on China fears | FortWayne.com - Fort Wayne
http://www.fortwayne.com/apps/pbcs.dll/article?AID=/20140418/NEWS/320140634/-1/NEWS05
Thomson Reuters GFMS Sees Gold Averaging $1,225/Oz In 2014 | Kitco News
http://www.kitco.com/news/2014-04-17/Thomson-Reuters-GFMS-Sees-Gold-Averaging-1225-In-2014.html
Gold Ends at Two Week Low, Down 1.9% on Week
Myra P. Saefong on 2014-04-18 11:06:38.0
http://www.tradeplacer.com/login.action?task=viewArticle&id=36384&title=Gold----Ends----at----Two----Week----Low,----Down----1.9%25----on----Week
There usually is a pullback right before, at or a tad after the close on EOW (end of week) I'll try to re-enter another long position and keep you company. I got wiggled out earlier and flat now.
Looks like a possible kick finish off the 1294 support area.
The bounce off of 1292 looks weak, no mojo, traders playing possum, or is this all she's got. If so, it's timbbbbbeeeeerrrrrrr.
Morning NY, looks like gold wants to hold 1296, I think it touched it briefly last night, but once it goes, if it does, it's hello 1280 is my best guess. There might be some sporadic movements in POG as the Ukraine crisis intensifies to bloodshed, but I don't think we can bank on that, with econ data getting stronger, and the powers at be pressuring gold, it seems the action is to the downside from here, at least for now. It doesn't mean we'll revisit 1188, but if we do, that's going to be a hard number to crack. I'm not a holder of the physical stuff, so I don't have any skin in the game, I'll swing either way, makes little difference to mean what the silly stuff does. Yesterday gold picked up a heathy gain during the dreaded lunch hour, 3 points or so, I'm looking to hop on, on a pullback, since this is Friday, there will be short convering and we should go higher, I'm still considering holding through the long weekend, seems more upside risk than downside at this juncture, any thoughts? :)
I guess we'll see in a few minutes when the Asian session starts, yesterday, they sold right out of the gate, it's in zombie mode right now, that's for sure.
NY, what do you think about buying gold and holding to Thursday evening or perhaps the weekend, but that could get tricky? All the markets are closed on Friday as I'm sure you know.
12:26p
Yellen: Forward guidance will continue to evolve 12:26p
Yellen: Forward guidance can serve as stabilizer 12:26p
Yellen sees little sign of broad wage acceleration 12:25p
Yellen: 'Plausible' economy restored in two years By Greg Robb April 16, 2014, 12:25 p.m. EST WASHINGTON (MarketWatch) -- The forecast of the Federal Reserve and many economists of a return to full employment and stable prices by the end of 2016 is "quite plausible," said Federal Reserve Chair Janet Yellen on Wednesday. "It is very welcome news that a return to... Full Story
12:25p
Yellen expects inflation to gradually move higher 12:25p
Yellen: Risk of deflation greater than inflation 12:25p
Yellen: 'Plausible' economy restored in two years
Hey NY, thought I would do a little snoozing, figuring the shiny stuff being intimidated into stage fright and all by that evil Fedspeak. It was another wild and whacky evening in the futures arena last night so this was a good opportunity to catch up on some z's. I see on my chart a shortable upward spike on housing numbers at 8:30 am, I hope you shorted that mother. I'll catch up on the news and keep an eye open, I don't like trading lunchtime, fraught with perils and traps, but I'll give it a go this afternoon. I'm pretty certain HFT's have infested gold futures, even the fastest gun alive would have his hands full with those mothers, but we humans are an adaptive lot, I see some weaknesses and actual benefits when competing against our robotic friends, mostly their repetitive ways, so unimaginative are those mechanical men at times. :)
Grown people hanging on every word coming from a paid minion of the banking institutions, seems like a childs game, or better yet an idiots game, happy to say that I won't be listening to the nonsense, maybe I'll sleep in tomorrow, too cold to go fishing. :)
Wednesday's Economic Events
Housing Starts
8:30 AM ET
Jeremy Stein Speaks
8:30 AM ET
Industrial Production
9:15 AM ET
Atlanta Fed Business Inflation Expectations
10:00 AM ET
EIA Petroleum Status Report
10:30 AM ET
Janet Yellen Speaks
12:15 PM ET
Richard Fisher Speaks
1:25 PM ET
Beige Book
2:00 PM ET
It doesn't matter which direction the mindless chemical element goes, what matters is that you are making money and that's the tricky part of the equation. But we can even the odds by reacting rather than predicting. :)