Short term trades in the stock market •$$$$$•

[bentom187]

1 Emirati Dirham = 0.27228 US Dollar

1 USD = 3.67269 AED

 

[TNTBudSticker]

Thanks !

Well Lets see now..The ounce was 4645.00 / $1264.81
175/ $47.65

That's a nice Machine.Wonder if you wanted to go ahead and drop that same ounce a year later and get back cash from the same machine.Minus say $15.00 for fees. ? Ok

 

[SpasticGramps]

Cramer's is pushing Baid-aids/JNJ/Johnson-Johnson

He was pushing BofA hard too in January lol.

BUY! BUY! BUY!

 

[bentom187]

is their a way to buy uae gold with the US dollar? online?

 

[SpasticGramps]

Primetime Ponzi.

Market Commentary: What An Ugly, Ugly Day

From Peter Tchir Of TF Market Advisors

Market Commentary: What An Ugly, Ugly Day

We are finishing at the lows or within spitting distance of the lows across the board, except for Gold, which traded like gold, all day long. Nothing really did anything to slow the increase in the price of gold. Overnight stock trading was less painful than many people expected (and more than some), but basically S&P futures traded in a range from down 35 to down 15. Bad, but not extreme. We even had a few rallies as the ECB seemed to buy a lot of bonds. The only true bright spot in the day (other than gold), was totally ignored for now. That other bright spot was that Spanish and Italian 10 year yields managed to get to around 5.25% and stay there. That actually seems like a big accomplishment. An even bigger accomplishment was how few European politicians spoke today. Those that did speak had recognizable names. They seemed to manage to muzzle the deputy ministers etc, who often like to get their names in the paper. Trichet did seem to be unsupportive. Yapping about not turning the ECB into a bad bank. Feels like he is trying to pin as many of his mistakes as possible on his successor, but honestly, Europe seemed as co-ordinate as they have been and seemed to focus more on a direct approach of putting capital to work than on coming up with elaborate plans, with lots of initials that never get implemented. Hmmm, maybe that is a sign that the Germans have taken charge from the French since it is all their money, and if anyone loves a complex solution where a simple one would be better, its the French.

Ultimately, it was the U.S. that disappointed the market. There was a slew of downgrades announced by S&P. Most were pretty well expected as they were a direct result of the U.S. government downgrade. The insurance industry came under pressure, that was a bit more of a surprise, and a definite negative. Ultimately, BAC became the story of the day. It was down 20% or so, and its CDS was out 90 bps, to 300. Scary numbers without a doubt.

In spite of that, the market held off on full capitulation waiting for Obama. And then waiting for Obama. Then waiting some more. By the time he finally addressed the nation stocks had already slipped to new lows. His completely uninspiring speech just accelerated the sell-off. He did nothing at all to give any comfort to the market. I thought it was one of his worse performances ever. Stocks proceeded to new lows. Somehow they managed to bounce back after 3pm for some magical reason. Maybe the PPT. After anyone who had held longs into the president's speech sold into this rally we faded into the end of the day.

There is no point talking about being oversold because clearly every indicator showed oversold coming into today, and left anyone betting on them, nothing but 1 day older and deeper in debt. The Fed was very quiet today. Yes I know they have a meeting tomorrow, and are in a "quiet" period, but maybe today was a good day to break it. Maybe they aren't planning on doing anything. Maybe they want the market to feel pain. I assume there are a lot of phone calls coming from Europe trying to figure out if their translation of "co-ordinated" was wrong? Had the Fed done something today on the back of Europe, I think we would have bounced. They didn't do anything, so there was no bounce. If the plan is to do something tomorrow, I think they made a poor decision. The ECB may not be able to keeps Italian and Spanish bonds bid for another day. If those bonds start trading back hard, it will be difficult for the Fed to stop the bleeding, certainly much harder than it was today.

The only remaining positives in the market, and they are small positives, is that many who saw only positives 2 weeks ago, only see negatives now. Perception has shifted a lot. Two weeks ago, if you said HYG could go to 85, people looked at you like you were from another planet. I get that look a lot, so I'm pretty good at recognizing it. HYG at the time was at 91.5. Today, if you tell people you think HYG can go to 85, they once again look at you like you are from another planet, but now it is at 83, having hit a low 82.33 That is about 12% in 2 weeks. Remember that case study I wrote about bond markets grinding higher and getting clubbed like a baby seal? Well the seal just got clubbed. Not a pretty sight. But the bearishness does get extreme. The only time I heard about earnings, it was in relation to how bad they could be in a double dip. No more talk about how they supported 1,450 valuations on SPX. VIX also got very high. It has been higher, but this is near the top of a pretty long term range. I don't think VIX is a leading indicator anymore. It is part of the risk on/risk off crowd, but just like when the CDS indices start trading too cheap to fair value, when VIX gets this high, it is a decent sign a lot of hedges are in place. Maybe too many.

I have no idea on the next move. Headlines will continue to dominate. If the ECB can't or won't keep Spanish and Italian rates down tomorrow, and the Fed doesn't initiate QE3, it could get really ugly. Seems weird saying that it could get really ugly after a down 6.66% day in SPX, but it could. BAC is another wild card. With market volatility so high, and liquidity minimal, the one thing that makes the most sense is to stay small and nimble.

 

[TNTBudSticker]

is their a way to buy uae gold with the US dollar? online?

Gold is Universal in price.One ounce is 31.1 Grams. Not 28 Grams.

Unless you're trying to do 2 things at once with the converting of usa/aed exchange.

Maybe find the company that makes those vending machines and cut them a deal because you want their Gold designs to trade.

 

[bentom187]

i was just under the impression 1 of our dollars is 3 of theirs,i was thinkin if the gold is set by their pricesand not adjusted for currencey coversion it would be a deal,but then again mabey i was using a bit of nieve wishfull thinking.

 

[Bobby Stainless]

Gold is Gold.

http://www.blanchardonline.com/blanchard_products/bullion_overview.php

Just one of the many places to buy 1oz coins. 1800+ each.

 

[RetroGrow]

Here's a good take it seems on silver stocks...


Full article with some interesting tidbits:
Here's a good take it seems on silver stocks...
http://seekingalpha.com/article/285041-silver-miners-oversold-for-no-good-reason?source=yahoo

Just want to let you know that Seeking Alpha has become a joke of a site. They will literally accept articles from anyone. No expertise or experience required. They had an 18 year old kid on there last week pumping MCP, saying it was going to $79 this week. Price today? $46.33. That is just one example. They had another guy on there predicting over $400 per share for the same stock.
Their credibility is a joke.
Not knocking your hypothesis, just your source.

 

[InjectTruth]

Oh man, i should have dumped my LVS when it ran back up to 48

fuckin bloodbath. I dont know enough about this game to know if i should whether the storm, or get out while im still green.

 

[RetroGrow]

Gold is Gold.

http://www.blanchardonline.com/blanchard_products/bullion_overview.php

Just one of the many places to buy 1oz coins. 1800+ each.

To think I sold my gold coins for $300 an ounce years ago!

 

[RetroGrow]

Oh man, i should have dumped my LVS when it ran back up to 48

fuckin bloodbath. I dont know enough about this game to know if i should whether the storm, or get out while im still green.

You are in the same boat as all of us.
Hard to say what's coming next, but market sure seems oversold. If O'bama keeps his mouth shut, we should get a bounce from here, but that's just a guess. Tough market. Failed "leadership" and systemic corruption are hurting us all. Was expecting a big drop today, but not that big. Stopped out of my short position when we were down 300. Missed half the move.

 

[CascadeFarmer]

Not knocking your hypothesis, just your source.

Gotta think for yourself. Virtually ALL of the silver stocks are oversold but doesn't mean they will not become more oversold. Silver stocks going the opposite way of gold stocks. Silver stocks getting hammered while gold stocks getting a lift.

Gold is Universal in price.One ounce is 31.1 Grams. Not 28 Grams.

An ounce is 28.35 grams.

 

[Sam the Caveman]

Not a TROY ounce, which is what gold is measured in

 

[TNTBudSticker]

When talking of metals..One ounce is not usually said by "Troy Ounce"

One troy ounce weighs 31.1 grams.

One avoirdupois ounce weighs 28.35 grams.

I would always play with my Silver 1 ounce coins and it's written on the back that's 31.1 grams of .9999 fine Silver.

Go to a coin shop for a day and be amazed by what you find.

The Fool's Portfolio is now at 476.Gained 98 points today.Oil Down Another $5.00 a barrel.Lots of selling. VIX over 30 gauges fear factor in the market.It's at 48 Now.

Oh man, i should have dumped my LVS when it ran back up to 48

.
Have to keep a stop loss someone says around 3%-8% to survive out there.

 

[RetroGrow]

Gotta think for yourself. Virtually ALL of the silver stocks are oversold but doesn't mean they will not become more oversold. Silver stocks going the opposite way of gold stocks. Silver stocks getting hammered while gold stocks getting a lift.

An ounce is 28.35 grams.

Everything seems oversold.
Gold seems overbought.
Panic selling & panic buying of gold.
Looks like panic continues as futures are down 300 as I type this.
Looks like the bottom's not in.
Pretty scary.
I will check out some silver stocks when the dust settles.

 

[SpasticGramps]

I have a feeling the proletariat rioting going on in London (coming soon to a neighborhood near you) may have some effect on the UK markets. The riots are certainly getting worse. Common theme these days.

Asia futures are all down ~5%+. Hong Kong is down 7%. Korea 9.5%. US futures are collapsing. DJIA @ -318.

Looks like we are in freefall to me. All we need now is one of the financial institutions to blow up and then it starts to get really serious. I'd keep an eye on BAC tomorrow.

But worry not. We are rolling out the big guns now. Teleprompter didn't do so good so we are going to have to get his boss. Uncle Ben is going to make it all better. When Uncle Ben comes out to give a ponzi pep talk it works. Right? Until it doesn't anyway.

Definitely have tight stops if you don't want to get creamed.

Bernanke May Try to Boost Confidence Amid Financial Turmoil

Federal Reserve officials tomorrow may move to bolster investor confidence after an unprecedented downgrade to America’s credit rating and concern the U.S. may be headed for a recession sent global share prices tumbling.
Chairman Ben S. Bernanke and his colleagues may prolong a pledge to maintain record monetary stimulus, said economists at JPMorgan Chase & Co., BNP Paribas and Goldman Sachs Group Inc. The Fed could do so by making a commitment to hold its $2.87 trillion balance sheet steady for an “extended period.” The Fed also may replace shorter-term securities with longer maturities to reduce rates on longer-term debt.
“Those steps are all about bolstering confidence,” said Michael Feroli, chief U.S. economist at JPMorgan Chase in New York and a former Fed economist. “It wouldn’t do tons to alter economic and financial conditions, but the perception that the Fed will act and do something is reassuring.”

Running out of options to keep the illusion going it seems.

 

[Sam the Caveman]

New low on the ES, 1077

 

[bentom187]

I have a feeling the proletariat rioting going on in London (coming soon to a neighborhood near you) may have some effect on the UK markets. The riots are certainly getting worse. Common theme these days.

Asia futures are all down ~5%+. Hong Kong is down 7%. Korea 9.5%. US futures are collapsing. DJIA @ -318.

Looks like we are in freefall to me. All we need now is one of the financial institutions to blow up and then it starts to get really serious. I'd keep an eye on BAC tomorrow.

But worry not. We are rolling out the big guns now. Teleprompter didn't do so good so we are going to have to get his boss. Uncle Ben is going to make it all better. When Uncle Ben comes out to give a ponzi pep talk it works. Right? Until it doesn't anyway.

Definitely have tight stops if you don't want to get creamed.

Bernanke May Try to Boost Confidence Amid Financial Turmoil

Running out of options to keep the illusion going it seems.

i said it before just look at this guys philosiphy and then look at all speacial intrest in govt.

 

[Tripsick]

I read

Soros Dumps Gold, Inciting Fear of Plummeting Price