Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You keep forgetting that you're not supposed to think. Another lapse and I might have to report you to the Master, penalty is seven lashes with a wet noodle. ;)
I would think the exchanges appreciate HFT's for volume and liquidity as you suggested, also, as you said HFT's are in competition with themselves, as they are all not on the same side of the tape. Perhaps in the long run it's a wash. It's hard for me to accept the notion posed by some that high frequency trading is market failure, conversely, optimal allocation of resources is attained. Interesting debate, I'm sure we won't hear the end of it for some time.
Morning N, what is your opinion on high frequency trading, is it much ado about nothing, is it that much worse than daytrading, or is it just that HFT's are successfully scalping the markets and scoring free money? In the equity markets are the listed companies the losers, I can't see how HFT's take from ma and pa traders, what's a penny or nickel for long term stock holders? I am not in agreement with the fast access provided to some of them by the exchanges, that's for sure.
Gold is just like the gals from my high school days, love to tease, I guess that's what makes it fun. ;)
Thursday's Economic Events
Challenger Job-Cut Report
7:30 AM ET
Gallup US Payroll to Population
8:30 AM ET
International Trade
8:30 AM ET
Jobless Claims
8:30 AM ET
PMI Services Index
9:45 AM ET
Bloomberg Consumer Comfort Index
9:45 AM ET
ISM Non-Mfg Index
10:00 AM ET
EIA Natural Gas Report
10:30 AM ET
Global Composite PMI
11:00 AM ET
Global Services PMI
11:00 AM ET
3-Month Bill Announcement
11:00 AM ET
6-Month Bill Announcement
11:00 AM ET
3-Yr Note Announcement
11:00 AM ET
10-Yr Note Announcement
11:00 AM ET
30-Yr Bond Announcement
11:00 AM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
NY I'm sure you have heard the expression , "The courage to be rich.", yes, it is far reaching and perhaps a bit ambiguous, but have you heard the one, "Too lazy to be rich."? That was me last night, when I thought about buying gold @ 1279 on the hunch it might run through the night.
Mini timba, ran out of wood for now. :)
Kap, right about now, I bet you're hoping for a capitulation rally, I must admit it would be fun to the see the non-believers running for cover.
Hmmm, their both Greek to me, I guess it depends on whether or not our European and Asian brethren decide what to do, last night they loved it, tonight they might massacre it. There might be positioning ahead of the jobs number out on Friday. It seems obvious the pop last night ignighted a short covering rally, most likely the shorts will be baaaaaaack. One never knows in this whacky game of gold and friends, like a soap opera, day by day.
Chinese master trader say, "If rally doesn't make sense, then not true."
BTW, Timberrrrrrrrrrrrr!
NY, to those who do not have a golden finger, it's not "cost of living", it's "cost of existence". :)
Yep, POG, I didn't check, but there was some chatter that a golden cross was forming in gold, with this pop the ma's may have already crossed, maybe we'll have some upside from here. I'm trying to keep an open mind as this might be a setup for a thrashing come Friday jobs number.
Well CM, if it cracks 1292, all my bets on the shortside are off the table. I'm easy, I'll go either way, short or long. As Kap alluded, lots of shorties out there. :)
It's that time again!!!!!
Maybe early, but I'm calling it anyway!
click here
If gold is going to break 1291.50, it will do it during lunch, shorties never sleep or eat.
No follow through on that bounce, got vaporized, possible noon hour positioning, we'll see if the dogs come out this afternoon, and you know they are waiting. :)
Great bounce off of 1291.70, there are a lot of shorts in this puppy and group think comes into play as well.
I'm a tad skeptical on technical bounces, they tend to get sold, let's see if gold can make higher highs, it seems to have support at 1292, high of day is 1294.9. If it pulls back can JUGS and get her sister.
Hey Kap, the spike occurred at 7:30 am when I was snoozing, what was the catalyst, econ events came out at 8:15 - 10:00 am?
Darn saboteurs. Kick finish on rims!!!
Darn high frequency traders must be playing gold now too. Mothers. I just noticed that Ford CEO looks a lot like Miss Piggy, cute.
Are the tires slashed or just out of air?
It's like watching Joe Frazier and Muhammad Ali go at it, round after round, then a pause and their back at it again. Talking about gold futures as I'm sure you know. I'll say Muhammad is the bull and Joe the bear. Ali up 1.60 points.
click here
That would be me of late, sadly Itchyfinger is MIA.
Today's Economic Events
Redbook
8:55 AM ET
PMI Manufacturing Index
9:45 AM ET
ISM Mfg Index
10:00 AM ET
Construction Spending
10:00 AM ET
Global Manufacturing PMI
11:00 AM ET
4-Week Bill Auction
11:30 AM ET
52-Week Bill Auction
11:30 AM ET
Gallup US ECI
1:00 PM ET
NY, got a new one for you!
"Chickenfinger", a trader who sets an unrealistically tight stop and takes miniscule profits for fear of loss. May have been or had a history of being mercilessly beaten by the markets. :)
Let's see if silver can show gold the way home, trigger finger shaking on the sidelines, but ready.
Kick finish anyone for the shiny stuff or just a sigh and a whimper?
Silver looke like it wants to go positve
Sure fire cure for a tanking laggard.
click here
I've been trying to find a dip to buy, maybe there have been a couple this afternoon, but missed both of them, should have worn my short hat today, on the sidelines, the Itchyfinger has paralysis. Forget guns and knives, let's napalm the darn stuff.
If this smackdown was a was a wresting event, it would have to be rated "R",for excessive violence and brutality. Next major support level 1268.
click here
Chicago PMI
The Chicago economy has slowed this month with the PMI at 55.9 for its lowest reading since August, down from 59.8 in February and below the low end of the Econoday consensus for 57.2. A major swing lower in employment to a neutral reading, one that reverses February's major swing higher, is a major negative in today's report. Another major negative is a sharp slowing in the most key reading of all, new orders. Precise details of the report, where subscribers are given special access, are not available. This report had been showing some of the strongest growth rates of any business survey, a factor that limits the implications of March's slowing. Despite the slowing, the Dow is moving to opening highs in early trading.
Econoday
Well, that's why they call you Goldfinger!!!! :)
19 Reasons Why The Federal Reserve Is At The Heart Of Our Economic Problems
http://theeconomiccollapseblog.com/archives/19-reasons-why-the-federal-reserve-is-at-the-heart-of-our-economic-problems
Hey MLM, some of us on the board are looking for gold to rebound, POG declined over $100 an ounce since early March, but there could be more pain to the next support level, 1268, or it could be up, up and away from here. We have the non-farm payroll number out this Friday, keep an eye on gold futures, the miners usually run in sync, sometimes it's better to get to the party late and miss the exact bottom than be an early bird playing catchup from behind.
That's why it is so important to prop up our 17 Tn economy to assure a flow of tax revenue, without tax revenue, there would be no support for the USD domestically and the doomsayers would finally have their day. I think you make a good point since the US is the world's reserve currency, oil and the commodities are bought and sold in USD, gold alone is a 20 Tn game. His explanation was simplistic, many more factors are involved, pretty mind boggling and way above my pay grade. ;)
The Real Reason the U.S. Dollar Has Value
http://dailyreckoning.com/the-real-reason-the-u-s-dollar-has-value/