EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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Banning him from the Forum would solve the problem.
I meant, 'Banning Qin from the Forum would NOT solve the problem'
Let's not be THAT harsh on Qin. Having MANY Chinese friends, I can tell you (no offense Qin) that they are at a deficit to translate their REAL ideas into English...and hence end up speaking what we may perceive as ignorant or offensive.
I have carefully studied Qin's comments...and quite often, his thoughts on Ashraf and fellow members are NOT as harsh as his words may show!
But Qin, this...
"I assume that if CMC is trading on his comments, CMC may have some trouble in their balance sheet now......"
...was EXTREMELY audicious of you!! This REALLY is the last straw. I mean, for Heaven's sake...Ashraf is a guy who is CONSISTENTLY ranked the world's no. 1 forex analysts. Me, you, Tom, Dick & Harry (& Sue, Siss & Sally - for sexists) COULD be wrong, but surely not CNBC, Bloomberg etc. I mean, WHAT?
Banning him from the Forum would solve the problem. Hey, we have to care about fellow forums as well. :p It'll be like dunping toxic assets into other balance sheets. heheheh
Qin, we all make mistakes. Spec, Gunjack, FX, Said, me - we all are wrong. But does NAYONE of us shouts (like you) that 'you are worng...you are wrong...you are wrong!' or 'you lead people to loss'. No. Why? Mutual respect.
You've got the signa. If I were you...I'd make a sincere apology (even if only, and deservedly, to Ashraf) or just respectfully leave the Forum (and let people remember me ONLY for my forecasts). But me...well, I'd still have you around...because even if you're expensive at times...you add quality to the forum!
absolutely agree with you
but gold like other commodities are cyclical and its cycle last 20 years. the new bull cycle started in 1998 2000 as u can see it on chart DOW/GOLD. if that gives a sell signal for gold i do trust but let's not forget that the gold cylce has 12 yaers left.
as for retail investor they r always thte last to catch the train nad most of the time they call a top, as it is in this case. The volume are down in the dow even if it goes higher.
the mba application are partly driven by refinancing loans if i dont mistake and i think that this coupleed with the fact that toxic asset case hasn't solved will give a W shape recovery with another leg down of 2500 points at max.
inflation is not at sight excepted for medium term and mainly driven by money printing and surge in oil prices ( chasing value in currency downtend)( i forecast a forty dollar barrel by year end ) due to the fact that level of titrisation are not there. banks dont lend to each other even if the libor ois rate spread shows. they are building up their capital reserves.
all the best
I work as a financial planner and have a good idea about high net worth clients.
im not sure we will get a depression-like cycle in stocks. don't let your emotions play.
The point is, stocks are still HISTORICALLY very cheap against gold. Looking at a 35 year chart I saw today of Down VS GOLD$ we are currently in stocks buy and gold sell. In otherwords, gold is hitting a top and stocks a bottom. This ratio was also an accurate buy/sell trigger for selling stocks in 2000 and buying gold back then which would have made you good gains.
The QE stuation also adds that infationary pressures will keep stocks up base partly on speculation. Whether QE should cause future intlation is irrelevant it is what investors think that will help produce market driven speculative bubbles in commodities, stocks and possibly gold. But i am fore more bullish stocks at current levels than gold.
the us an uk are probabably havng some QE in november so its common sense to be prudent in this environment . the only thing i see is that we r heading lower in the dow when it will reach its fib retracement around 10000. hte six months bull rally is gona be erased in a shorter period and thats why iam personnaly advising qin to play th els t leg till it drops
Adam
what have you got against Sweden? I like the country. However I like Australia more and I can relate to Aussies. They are abit crazy like us Norwegians. lol
Anyway, Qin is not Swedish.
Personally I think it is good that people here not always agree. I just got told of 2 times cause of my own lack in manners and foul language. I always appreciate feedback and note myself others opinions. No hard feelings.
However, Ashraf, oil is looking relative strong now and with most Majors strengthening against the dollar, trends intact. Do you see oil reaching higher (above 75$)before we get a pullback in stocks, short-term?
Cash for clunkers program is already finished, stimulus packages are finishing, still waiting for the market to correct. Markets must be running on beleif, hope and love now... or just air....
Haven't had time to finish your book, but so far so good.
Thanks.