market direction

[wackypete2]

market round up, cba posting charts

corn - long
nat gas - long
live cattle - short
cotton - short
silver - short

ten year - out
s&p - out
copper - out

crude - taken the loss
euro - taken loss
gbp - taken loss

3 losing markets, but copper alone covers then and wont be trading FX with my strategy anymore.

will look for selling opportunity in the SP if i see a potential collapse, but wudnt advise others be in this market at all

Some very nice calls there and I agree with lookin to short s&p (emini). Just out of curiosity, why do you think FX causes some problems with your strategy? Seems to be working well otherwise.

Peter

ADDED: You must have an iron stomach to be swing trading some of those markets

 

[N Rothschild]

main reason fx doesn't seem to be working as the futures are only a small part of the market, cant get into the right part of the information curve in fx like i can with pit traded commods

 

[N Rothschild]

yep - just watched that and wondered whether I should take a position now overnight. thought better of it. will just watch for a while.

i think its worth a go on smaller size

 

[wackypete2]

i think its worth a go on smaller size

I'd wait until the asian markets are all open and see if it really wants to move down. I suspect it will but would like to see some confirmation. Also in light of recent volatility smaller size is smarter.

Peter

 

[wackypete2]

main reason fx doesn't seem to be working as the futures are only a small part of the market, cant get into the right part of the information curve in fx like i can with pit traded commods

Cool. I was thinking along those lines a bit. FX futures not as actively traded. Too much spot activity.

Thanks,

Peter

 

[N Rothschild]

Breaking News: Angela Merkel Coalition Loses Majority In German State Vote According To Exit Polls

odds of the 500bil bailout happening, when the party planning on doing it may not have the power to do so, slim to none?

 

[N Rothschild]

sp up nearly 30 handles overnight, this volatility is crazy

 

[robster970]

Yep - the last thing I expected to see at 6.30 was it being up another 10pts. Sitting out for a while until I can see what's going on.

 

[scose-no-doubt]

Come on then, Genics. What you make of this mess?

 

[robster970]

ES @50pts from Friday close now pre-market. Is this a house of cards or what?

 

[meanreversion]

This is just a temporary breather. Nothing has really changed, the debt continues to grow. Watch out for the UK gilt auction tomorrow, could be interesting.

 

[scose-no-doubt]

This is just a temporary breather. Nothing has really changed, the debt continues to grow.

Heard that before lol

 

[N Rothschild]

omg sp futures were up 55 handles at the higher over night, this is INSANER. recepie for disaster. when the market starts these wild swings in both direction is spells very bad news.

doesnt help fed have opened the swap lines to all european central banks, im hearing a trillion dollars??

 

[meanreversion]

My system now has me short copper, altho it's significantly tamer today than last Wednesday (!)

 

[N Rothschild]

im looking at the news today, all i see is acts of desperation. euro rip imo

we know what happaned last time BOE tried to procect the pound from nasty mr druckenmillar

 

[meanreversion]

I think so. But if they manage to slow its descent, that probably doesn't hurt. But at some point the Germans are going to start kicking back against this nonsense. They have to work 10+ years longer than the Greeks to pay for their profligacy? These measures today are simply carte blanche for Club Med to carry on as they were. Don't believe this austerity bill in Greece ---- those people don't even pay their taxes, what are the odds of them conforming to something imposed by outsiders?

 

[N Rothschild]

even if we go up from here, we will be back down as that gap has to be filled on the ES

 

[Waterfield]

Lol what about that euro trade you did 4 weeks ago which gapped up, why didn't you close that (think there was 3:1).

On another note, isn't odt ban about to be lifted today/tomorrow.

 

[N Rothschild]

because it was no where near what i was looking for, c'est la vie

 

[N Rothschild]

Come on then, Genics. What you make of this mess?

hmm so which previously banned member are you?

as for the mess, well its going to end badly. we have seen this before late 2008, these huge up and down swings on bailouts etc. i wouldnt advise anyone tries to trade this unless you are a seasoned vet! imho.