OMNI Trading Academy :: Forum

3/6/2007 9:11:25 PM Phileo Posts: 0	I'm hearing [b:f7771f63e3][i:f7771f63e3]rumours[/b:f7771f63e3][/i:f7771f63e3] that Gold got caught in this recent downdraft because of the Yen carry trade. The theory was that the proceeds from borrowing the Yen was allocated to investing in gold. Now that the OMNI has called for a short of the YEN, does this mean the coast is clear for gold to go back up :?:
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3/6/2007 11:00:07 PM futuresanalysts Posts: 0	That's the way I see it so far today. I will have a better handle on direction after I complete my analysis this evening. Quite amazing how the OMNI changed from RED to GREEN at 3:00PM EST yesterday. I sent a Flash update about it when I seen the shift taking place. Oscar
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6/28/2007 4:33:43 PM Vinny Posts: 0	Gold Commentary: While the US GDP reading was revised higher from a prior reading, it wasn't as strong as most expectations and that probably tempered the impact on gold prices. However, the 1st quarter chain weighted Price Index was up rather sharply from the 4th quarter and that might have lent the gold market some support from an inflationary perspective. With crude oil forging a significant upside breakout and reaching the highest level since early September of 2006, it would seem like the inflationary tilt was present in a number of angles.
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7/2/2007 4:14:26 PM futuresanalysts Posts: 0	Gold is riding on the back of the recent terrorist attacks in Europe. It has climbed above the all important 200 day ma. If it settles above the average for 3 sessions then we become bullish minded. Remember to discount the movement you witness during a major holiday week. Oscar
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7/2/2007 7:59:53 PM Vinny Posts: 0	With a very impressive three day up pattern, the August gold contract has at least partially turned the tables on the bear camp. While some players suggested that the gold market was being lifted by renewed terrorism concerns and others suggested that the statements from Putin regarding Iran were cause for flight to quality buying in the gold market, the main reason behind the gold rally was probably mostly the slide in the Dollar. In fact, with the regularly scheduled US economic information on the day slightly better than expected and the Dollar falling, the gold market was able to get a lift from several different angles. In the end, seeing the US and Russia united against Iran could certainly increase the odds of server sanctions against Iran and Iran has indicated that some economic sanctions will be considered by Iran as a military threat. With the stock market strong and the equity market strong, the outside market environment was simply conducive to the bull case and with the gold market climbing back above the 200 day moving average it is possible that even the technical players were turning fresh buyers of gold.
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7/3/2007 1:08:12 PM Pizza Posts: 0	What about the dollar breaking down yesterday? Since they run opposite each other I would think that had something to do with the gold rally, at the least another reason.
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7/9/2007 6:30:13 AM futuresanalysts Posts: 0	OMNIACS, Watch today's video dated 07/09/07. I mentioned a Gold formation building which should offer direction within a day or two as to which way to trade it. Stay tuned, Oscar
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7/9/2007 12:13:15 PM vmcd62 Posts: 7	I'm just wondering why we wouldn't trade August gold...Oct Gold has a current volume so far this session of 38...and the mirror image on ZGV07 is close by not exact...ZGQ07 has about the same mirror image.
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7/9/2007 1:27:06 PM Administrator Posts:	ZGQ07 expires on 8 /29 i know i would try to trade the front month. unless it was for a trend trade. back months can get real thin and worst if its a pit contract. can be hard getting out if the market starts to move fast. if any one dose trade the back month remember if something big happens and want to get out and can't you can alway hedge in the front month.thats a worst case but something to remember as there a lot of young traders in here
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7/9/2007 2:13:55 PM vmcd62 Posts: 7	Good point Willie..if you get in trouble in a thin market...you do have the option of spreading off another contract month..i.e., long one and short the other...until there is a good time to drop a leg..I haven't been very good at finding that "good" time though..
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7/10/2007 7:29:55 AM futuresanalysts Posts: 0	Rollover is the 3rd week of July for the Gold market. If you wait for August to expire or go into delivery you will be hit with all kinds of re-tender charges if you use the pit traded contracts. Your not correct willie about how much time you have to safely trade the August pit contract. You can choose the August Gold or the October contract this week for this trade. The Mirror Image is now complete and had given a likely buy indication for a minimum of 2 trading days. It has also crossed over an important 200 day moving average giving it another higher indication. Watch tonight's video dated 07/10/07 for an explanation. Oscar
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7/10/2007 12:39:23 PM Administrator Posts:	Oscar 100 oz Gold Futures Contract Size 100 fine troy ounces Deliverable Grades 100 troy ounces (±5%) of refined gold, assaying not less than .995 fineness, cast either in one bar or in three one-kilogram bars. Tick Size $.10 per troy ounce, $10 per contract Price Quote Dollars and cents/fine troy ounce. Contract Months First 3 consecutive months; 2 Feb, 2 Apr, 2 Aug and 2 Oct; 5 Jun and 5 Dec Last Trading Day Third to last business day of the maturing delivery month. Last Delivery Day The last business day of the delivery month. Trading Hours Electronic: 6:16 pm to 4:00 pm, Central Time, Sunday-Friday. Trading in expiring contracts closes at 12:30 pm on the last trading day. Ticker Symbols Electronic Trading: ZG
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7/10/2007 1:26:19 PM Administrator Posts:	First notice date on Aug gold 7/30/07 ZG contract about 20 days
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7/10/2007 9:29:14 PM scrapdaddy Posts: 0	oscar was right on wih the gold and silver - go mirror image! thanks!
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7/10/2007 11:24:05 PM futuresanalysts Posts: 0	That's all that really matters here. The rest is just static. Trade what works best and avoid all the rest. Silver did run up and try to catch up with Gold today as we expected. The gold headed higher thanks to the Mirror Image giving us a heads up. These were both telegraphed on a video the night before the event took place. See video trade date 07/10/07 at www.youtube.com/futuresanalysts More then that I can't do. Good luck trading. Oscar
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7/18/2007 2:46:32 PM Vinny Posts: 0	I'm a buyer in Gold today, short it and you'll get your head handed to you. With the Dollar at least starting the session out on a weak note, oil prices initially higher and the rest of the metals markets positively biased, a good portion of the outside market forces appear to be positive for gold and silver.
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7/18/2007 5:48:13 PM mart Posts: 0	Agree Vinny. Gold seems to have found support at 673. Next target 694. 8)
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7/20/2007 5:29:12 AM Vinny Posts: 0	I don't understand why Oscar says to trade Oct Gold.... Today's vol in Oct was only 482 vs 16,602 for August (the current front month). I was always taught to trade the front month to get the best fills and tighter spread between bid and ask. I could possible see it if you were going to hold it for a few weeks, but this is for short term trading right, usually out at end of day. I'm personally into my 4th day holding my August contracts and wouldn't even dream of trading October this early. :?:
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7/24/2007 1:26:02 PM Vinny Posts: 0	I'm still long Gold since my post on the 18th, short it and you'll get your head handed to you. Sentiment for gold remains bullish for the moment! Gold futures are gaining on fresh dollar retreat.
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7/24/2007 3:18:44 PM Vinny Posts: 0	I'm taking profits on Gold long position. 18 points per contract since the 18th. It's always a good time to take profits. Be VERY careful shorting gold here, my indicators show it still very strong and could keep going up. It really depends on the dollar. ps - I would never short gold because the gold roll over is coming. We are currently 2 weeks away from roll-over anyway so it's a bit early for that type of thinking........
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