GregFokker Posted December 31, 2002 Report Share Posted December 31, 2002 That'd be my guess too, Dr. B. I have a tick-by-tick forex table, but don't know how to generate ratio charts- not a subscriber to your old nemesis. Link to comment Share on other sites More sharing options...
Guest Posted December 31, 2002 Report Share Posted December 31, 2002 USD getting croaked but gold down in USD? That's intervention, folks. Pundits have been claiming the the POG selling is profit taking. I say, what moron trader is going to unload to take profits in a year end thin market? Either someone is being forced into selling to raise cash, or selling is designed to tank the POG and take a bit of the shine off as an investment for the weak longs before the traders jump back in. It just doesn't smell right. Link to comment Share on other sites More sharing options...
Guest Posted December 31, 2002 Report Share Posted December 31, 2002 wndysrf, I don't see it, sorry - at least not on the index. The stochastic is still pointing down and CMF is Dover Sole - but not terribly so: Regards, Vesselin Link to comment Share on other sites More sharing options...
fxfox Posted December 31, 2002 Report Share Posted December 31, 2002 guten tag liebe stoolies! there is no big dollar intervention. Euro lost from todays high 35 pips, usdjpy gained from low 25 pips. There is no intervention at all. Sometimes people just take their profits and go home, beleive it or not, but profit taking is part of the business. "Although Japanese markets are closed for the New Year's Holiday until January 6th, officials warned of their willingness to intervene against excessive yen strength which "must be corrected." As a result, traders should be reluctant in pushing the dollar any lower against the yen over the coming days. USD/JPY is holding above its four-month low of 118.32, as fears over Japanese intervention keep traders from pressuring it lower" when usdjpy rises 100-150 pips in just 10 mins or os then you know that the BoJ intervened Link to comment Share on other sites More sharing options...
Guest Posted December 31, 2002 Report Share Posted December 31, 2002 That'd be my guess too, Dr. B. I have a tick-by-tick forex table, but don't know how to generate ratio charts- not a subscriber to your old nemesis. StockCharts is useless for such purposes - they have only EOD data for the currencies. I found a "US dollar in Japanese yen" chart at INO - but it doesn't have intra-day data. Glorious double top, though. Around 118 looks like some kind of support - a logical place for intervention. Regards, Vesselin Link to comment Share on other sites More sharing options...
DrStool Posted December 31, 2002 Report Share Posted December 31, 2002 Suctor Watch Pre Market Update Hi there, Mr. Hanky! I always believed in you!!! Link to comment Share on other sites More sharing options...
fxfox Posted December 31, 2002 Report Share Posted December 31, 2002 about gold: havent we said that 355 was res and wasnt 355 reached? Once a res level is reached, what happens? Some say "oh, i better take my profits, what the hell do i know what will happen next", others stay in their postion. So what we see is absolutely normal and only someone who is absolutely new to stocks, currencies, commodities should be surprised. And of course there will be a correction in Dollar. A market can be overbought like a freakin hell, but not for very long. Correction should start no later than first week of jan. Maybe 1 more point down in the dollar index, but that should be it, doc said something like 101.70 that could be it too. Link to comment Share on other sites More sharing options...
Ned38 Posted December 31, 2002 Report Share Posted December 31, 2002 test Link to comment Share on other sites More sharing options...
FeedFool Posted December 31, 2002 Report Share Posted December 31, 2002 USD getting croaked but gold down in USD? That's intervention, folks. Pundits have been claiming the the POG selling is profit taking. I say, what moron trader is going to unload to take profits in a year end thin market? Either someone is being forced into selling to raise cash, or selling is designed to tank the POG and take a bit of the shine off as an investment for the weak longs before the traders jump back in. It just doesn't smell right. Gold spent too much time near 350 without a break so traders are taking the profit. I am not buying until I see gold around 330. Dollar is going down the toilet next year. Who would want to pay good money for the toilet papers? Easy al has a magic hands what ever he touches turns into a bubbles. He is also wearing special glasses, which makes everything?s looks so small. Link to comment Share on other sites More sharing options...
fxfox Posted December 31, 2002 Report Share Posted December 31, 2002 That'd be my guess too, Dr. B. ?I have a tick-by-tick forex table, but don't know how to generate ratio charts- ?not a subscriber to your old nemesis. StockCharts is useless for such purposes - they have only EOD data for the currencies. I found a "US dollar in Japanese yen" chart at INO - but it doesn't have intra-day data. Glorious double top, though. Around 118 looks like some kind of support - a logical place for intervention. Regards, Vesselin here some free forex charts: http://64.94.163.168:8004/Charts http://quote.fxtrek.com/misc/fxcm.asp http://www.fxcm.com/FinanceChart.htm they are all "live" Link to comment Share on other sites More sharing options...
MrHanky Posted December 31, 2002 Report Share Posted December 31, 2002 I don't know if charts mean anything on the last day of the year...anything goes today... Link to comment Share on other sites More sharing options...
Guest Posted December 31, 2002 Report Share Posted December 31, 2002 USD getting croaked but gold down in USD? ?That's intervention, folks. Pundits have been claiming the the POG selling is profit taking. I say, what moron trader is going to unload to take profits in a year end thin market? Either someone is being forced into selling to raise cash, or selling is designed to tank the POG and take a bit of the shine off as an investment for the weak longs before the traders jump back in. It just doesn't smell right. Gold spent too much time near 350 without a break so traders are taking the profit. I am not buying until I see gold around 330. Dollar is going down the toilet next year. Who would want to pay good money for the toilet papers? Easy al has a magic hands what ever he touches turns into a bubbles. He is also wearing special glasses, which makes everything?s looks so small. I'm not surprised at the profit taking. I am surprised in the brutish manner it was executed by supposedly sophisticated PM traders in a thin market. It raises questions. Link to comment Share on other sites More sharing options...
FeedFool Posted December 31, 2002 Report Share Posted December 31, 2002 There is no new bull market, Look at the chart. I will be looking to pick up some shorts on the bounce only. Link to comment Share on other sites More sharing options...
Guest Posted December 31, 2002 Report Share Posted December 31, 2002 Fx, thanks for the charting tools. They are all Java applets, so I can't post a live chart from them here - but, yes, I agree - they show no intervention by the Japanese. Regarding gold's "profit taking" - I vividly remember one of the gold cheerleaders saying exactly something like that on Gold Eagle just after the initial reaction after the June top. He basically said "what is this panic on the boards; it's just normal profit-taking". Well, we all know what followed. The gold bugs are conditioned to take their profits quickly, before somebody else takes them - and for a good reason. I agree with FF here. We must see how gold reacts when it approaches the important area of 325-330, before we can be certain that the rally will continue. Yes, I know about the bullish fundamentals and cycles and whatnot - but gold is known for its violent falls, not just for violent rises; the gold market is thin and easily manipulated; the correction was long overdue; and in general I prefer to listen to what the technicals are telling me about where we're going, instead of what the funnymentals are saying about where we should be. As it is, we should count ourselves lucky if we have to pay "only" with a few months of sideways chop for the recent excesses. The above notwithstanding, I'm sticking to my strategy of holding the gold stocks I like while they are above their 50-dmas. Regards, Vesselin Link to comment Share on other sites More sharing options...
anoscope Posted December 31, 2002 Report Share Posted December 31, 2002 con con out in 15 mins Link to comment Share on other sites More sharing options...
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