Anyone scalping the FTSE Futures??

joseph1986 said:
lower gold = wider ranges in equities

major uncertainty in markets.
dxy smack dab in the middle of both 10 day swings at 97.210 and 96.395
euro 1.12047 and 1.11165

main reason for uncertainty = gold won't go to 1265.32 today so will dow hit 18334 today?
you have a hawkish fed who drove markets up....gbp/usd hit 1.19
this makes no sense at all
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Gold is just a shiny piece of metal, nothing more.
It has no standing in the currency markets, only a consumer, and industrial value. Its paper trading exceeds its physical amount by orders of magnitude, so its price is meaningless now (unless your a prepper). All in my opinion of course.
 
The main even yesterday was the abrupt fall of the pound against the dollar (6%). A drop of 6% in the forex market is, in general terms, a drop of about 20% in a stock index. The reasons for this move are unclear but apparently are not of a fundamental nature and can be an error, of an automatic trading program that triggered a series of stops in a low liquidity environment.
 
postman said:
Gold is just a shiny piece of metal, nothing more.
It has no standing in the currency markets, only a consumer, and industrial value. Its paper trading exceeds its physical amount by orders of magnitude, so its price is meaningless now (unless your a prepper). All in my opinion of course.
Click to expand...

with eur/chf.....it's a more than a shiny metal.
 
postman said:
Gold is just a shiny piece of metal, nothing more.
It has no standing in the currency markets, only a consumer, and industrial value. Its paper trading exceeds its physical amount by orders of magnitude, so its price is meaningless now (unless your a prepper). All in my opinion of course.
Click to expand...


Interesting. Yes, worldwide use of the metal itself is trivial. And the its price per ounce is meaningless. But surely you'd agree that change in the gold price tells us something about expectations for inflation, currencies, risk tolerance and stocks?
 
tomorton said:
Interesting. Yes, worldwide use of the metal itself is trivial. And the its price per ounce is meaningless. But surely you'd agree that change in the gold price tells us something about expectations for inflation, currencies, risk tolerance and stocks?
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Tomorton posting on the FTSE thread.

See ya Monday/Sunday
 
swissy said:
FTSE - interesting yesterday. Classic of market makers pumping and then taking profits after bears rinsed.

After couple of levels going short - primarily 7100 - 10, got steamrollered and I gave up and waited for the market to culminate before entering shorts.

Always interesting to note the crazy last five minutes trading from 1625-30hrs where stops get taken out before resuming the previous movement.

This has happened quite a few times EOD and could be profitable if you keep your powder dry till 1630hrs as price usually reverts - as it did yesterday aftermarket.

Today some consolidation after yesterdays excitement - looking at support 7050 and rez 7080 for starters. Lets see.
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It could be worth basing a strategy around that-the perfect trading system-about 30 mins per day;).
i have looked at end of day trading a lot-you either make a little or lose a little.
beats constant watching and guessing the market direction.
 
ftse good move off sp zone 7030.... probably re-test.
if it holds rez area 7050-60. If not sp area looking 7000-10.
 
tomorton said:
Interesting. Yes, worldwide use of the metal itself is trivial. And the its price per ounce is meaningless. But surely you'd agree that change in the gold price tells us something about expectations for inflation, currencies, risk tolerance and stocks?
Click to expand...

I found this after I posted my opinion, thats the beauty of t'internet you can find lots of stuff to support your opinion no matter what you believe. :)

A few facts about the price of Gold and the reasons behind it. Plus a view of what might happen when inflation bites, (spoiler alert) its not the price of Gold goes up.

https://www.fidelity.com/learning-c...-analysis/gold-not-best-inflation-hedge-video
 
US markets closed today so no major currency moves, so no major change in the ftse on the close. :sleep:
 
The figures indicate that the expansion of the labor market remains intact although at a slower pace. Data confirm the improvements in the labor market indicated by the Fed at the last meeting and shall not constitute an obstacle to a rise in interest rates in December. Until this meeting will be published two employment reports. The Fed has scheduled a meeting in early November but should not take any decision before the presidential elections.
 
5000?:clap:
 

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