Discussion in 'Trading' started by Warrior4g, Oct 15, 2007.
oil at 85.06 and gold at 764. and of course the dollar is weak. everything reverts to the mean.
"inflation remains well contained".
The fed should have let the economy weaken now look what they did, dammm idiots.
Every other country is raising rates not our pussy fed, they cut so Goldman Sachs stock would stop falling, dammm idiots.
Crack open a newspaper. It's because Turkey is threatening to attack northern Iraq to squelch some Kurdish cross-border attacks. Meantime, in a stunning display of their soaring intellect, the Dems are pushing ahead with a bill to declare the Armenian massacres of WWI by Ottoman Turkey a genocide, which is just further provoking them.
Gold is higher and dollar is weaker because Turkey threatening?
Even in terms of oil - Turkey threatened last weak and we had a decent rally
Oil can't rally everyday 2$ because Turkey threatens every day.
This is a fundamental rally means how much your dollar worth
Look, gold is my biggest position. However, today's move is due to the Turkish situation. That's true in both gold and oil.
The move is always fundamental, however, geopolitics very frequently provides a nice little kicker.
But remember Ben is keeping an eye on it LOL
I would say it's because of those newly invented SIVs
Banks will put 1 trillion of those - Fed will buy them using freshly printed, nice smelled dollars
And everybody will be happy, debt dissappeared, dollar devalued, China lost 10% of its reserves
Actually, you're right. That's definitely a part of it.
This credit crunch is far from over.
Gold's Breakout Chart ...
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