Archive for the '• Stock Market' Category

Trade Idea: Buy Gold on a Tuesday, Sell on a Wednesday $$

October 06th, 2010 Comments(0)

Market Report: 07.00 London

This morning gold is pushing even higher, reaching just $0.20 shy of $1,350 in early trading.

Yesterday, FT Alphaville highlighted an interesting piece of research which showed that gold has rallied by $20 every Tuesday for the last few weeks. Perhaps its just a random trend, but its certainly quite striking:

After rallying on a Tuesday however, gold has not been powerful for the rest of the week usually. One way to capitalise on this is to place a ‘No Touch’ bet predicting that gold won’t touch a level $30 higher in the next 6 days.

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Luck/coincidence is no doubt playing a part, but financial markets work in strange ways and previously random patterns can start to become a self fulfilling prophecies as traders look for the pattern to repeat. Add to this the fact that traders may be wanting to pull some money off the table after booking strong gains and gold could be set for for pedestrian growth for the rest of the week.

A good way to play this is a No Touch bet predicting gold won’t touch a level $30 dollars higher than current levels in 5 days.

Alternatively you could place a ‘lower’ bet predicting that gold will be lower than $1340 in 5 days time for a return of 135% if successful.

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$$ Market Report: Rebound Attempt II? $EUR $GLD

September 01st, 2010 Comments(0)

Morning Report: 07.45 London

Summary:

  • Stock market futures are indicating a positive start to the day after a weak session yesterday.
  • Chinese Manufacturing numbers came in slightly above expectations, while Australian GDP smashed estimates to come in at 1.2%.
  • The mood has shifted to glass half full again with the yen under pressure and the Aussie dollar in demand. The AUD/JPY is up 1.12% and the AUD/USD up 1%.
  • Traders are also taking some money off the table on the Swiss franc as the currency gives back some of yesterday’s gains. The EUR/CHF is up 0.44% and the USD/CHF up 0.15%.
  • Gold is still in demand, trading above $1,250 briefly this morning. Gold has closed above this level only twice before.

Markets this morning:



Markets rally on US jobless claims $$

August 26th, 2010 Comments(0)
Market Report: 15.30 London

This afternoon stock and forex markets have extended their rally on improved US jobless claims.

As some skeptics note, the unemployment levels are still at elevated levels, just slightly less than previously thought:

“The economy is now losing just around 73k jobs per month instead of the expected 100k, truly a miraculous result” ? Zero Hedge

Nevertheless, after days of heavy selling on stock markets, the news is helping to fuel a rebound today. The FTSE 100 is up 0.8% while US markets are higher by around 0.3%.

The US dollar and Japanese yen are firmly on the back foot, though it should be noted that the third member of the safe haven trio, the Swiss franc, is holding up well.

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