Search results

Others have said gold is following oil. And the S&P is following oil too. So we're all screwed!!

Next stop on our descent: 837

Thanks for the ideas Cutten, it's very helpful to me. I'm long from 1050 (yeah I know). I think exiting at 895 is not a bad idea. It just hit 887 as I write this. If I was confident that 837 would hold then I'd prefer to just keep holding. But I'm afraid we'll go to 750 and I'll be...

Why not take delivery and then put it up for sale on ebay? ;)

ES DEC08 Futures ESZ8 NOV 21 '08 950.0 CALL Multiplier: 50 The quote I'm getting on this option is 47.25, down 50%. From what I understand, I take the price of 47.25 and multiply by 50 to get the price of an option for 1 ES option? That's $2362. I have no idea how to calculate if...

Thanks for your explanation Cutter. I am also following your idea of the Platinum/Gold spread so I really value your insight. You mention buying options. I'm currently long ES and due to (stupidly) averaging down I'm over-leveraged. So I don't want to buy any more ES. I could, I just...

but there was more volume today than on monday.

I was debating this, but I'm not sure the low will hold. Can you share why you think it will? What bothers me is the volume on monday was very weak. There was no follow-through. The buyers just aren't there.

Obviously we're heading towards retesting the low. The question is, will it hold? Or will we go lower?

Seems we're having a normal pullback, possibly to close the gap from monday's open. We're on track to have less volume than yesterday so that's a good sign. This is a buying opportunity for those who missed the entry on Monday.

What about unemployment? From what I saw the latest numbers weren't good at all.

I agree with you, but I'm currently long ES & NQ. When I think we've reached the top of the rally I'm going short. So what criteria are you waiting for to enter your short positions??

The article basically says there are idiots willing to pay $150-$200 more than the spot price. People panic. A few more days of +7% gains and they're going to realize they screwed up. Meanwhile, the gold futures are just that. Futures. December. We think the price of gold in december...

If you don't mind, please share your method for determining your price target.

I think most of us agree that this is likely a bear rally and that once the market is over it will continue its downtrend. If so, you probably did like me and went long since the bottom. So what's your target? Taking Nasdaq 100 (I know many trade ES, I do too, but I think Nasdaq is...

i'm not comfortable buying silver with such selling pressure. I shorted gold instead and I expect Gold to follow silver down. Especially as people move out of metals and into the index futures.

Were you forced out? What happened? Margin call? Or did you just give up? It's rallying as I write this. It looks you you got out right at the bottom, 10 minutes before the rally. Wait for a confirmation and get back in.

We haven't had the volume surge needed to call it a capitulation. I think we can say selling power is running out and now there is equilibrium, which we'll see with a doji candle. That's an important step. We could have another down day but I think the down movement is about over. Market...

My theory is that traders are moving out of gold and going long on the index futures. I think ES/YM/NQ have a lot more potential than Gold at this point. Gold was going down and only got saved by people "safe haven" buying. Gold near 10 year high doesn't seem safe to me. But the indexes at...

I'm not sure institutions were holding gold. But anway, I've seen Gold tipping off moves. But what's interesting is sometimes it does a fake out in the opposite direction. Manipulation? Maybe. It's being alleged in the silver industry. Keep an eye on ZG & ES 5 min charts and see if you...