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by Ashraf Laidi
Posted: May 14, 2009 16:44
Comments: 54
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This thread was started in response to the Article:

Oil to Underperform Metals

Forex, oil, gold & equity implications of rebounding Gold/Oil Ratio.
 
 
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Ashraf Laidi
London, UK
Posts: 0
16 years ago
May 14, 2009 21:28
Rob, market can stay irrational longer than investors can stay solvent. remember that traders need to make money on both sides, bear on bull market and we its better for the bears to have days like these to add more fuel to the downside, rather than 4 or 5 straight losses. Bears need to create a false sense of comfort for the bulls. we started with a whimper at 930am and we ended in similar vain.

Ashraf
Rob
New York , United States
Posted Anonymously
16 years ago
May 14, 2009 21:13
Thanks a lot for that info. I'm keeping my fingers crossed that this equity rally ends soon, because I don't feel comfortable going with risk appetite trades. Equity traders seem pretty ridiculous to me - job losses are job losses, does it really matter what sector of the economy they come from?? Thanks, and let's all look forward to banking some major gains when this house of cards falls yet again!
Ashraf Laidi
London, UK
Posts: 0
16 years ago
May 14, 2009 20:43
Rob. Yes we can. And cable has broken above the 1.5220 resistance while USDCAD still holding above 1.1660. But do keep in mind today's S&P close as well as previous 2 days, whereby if we close BELOW 898 (midday of today's range and low from Wednesday) then it's still bearish. and if we close the week below 900 then we have a bearish weekly candle calling for more losses next week

Ashraf
Rob
New York, United States
Posts: 305
16 years ago
May 14, 2009 20:12
Hey Ashraf,

Can we expect to see more gains in GBP/USD, EUR/JPY, and CAD/USD if Asian session follows US in equity gains? - pretty simple question to ask, and think I know the answer is "yes" - just wondering if you see any major resistance levels for those pairs. Thanks a lot.
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