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Posts posted by Caseynotes
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Gold down, oil up and dow up, markets looking to turn away from risk off to risk on;
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"China's Rare Earth Metals Aren't the Trade War Weapon Beijing Makes Them Out to Be"
http://fortune.com/2019/05/29/china-rare-earth-metals-trade-war/
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M30 dax and dow in similar shape to the S&P, hanging around to pivot waiting for the off. If the direction is up dow may have difficulty crossing the red weekly chart broken support level which will cause dax to pause if it's following. If the direction is down to retest the recent low (now S1) will be interesting to see if price powers through or stalls.
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What will the day hold, dax, nikkei and ftse looking to bounce up off the prior low, dow trying to get back up above the key support broken yesterday.
The H1 S&P below shows much as the others, a recheck of the pivot which is interesting, I normally expect continuation, today being the same as yesterday until it isn't and price just continuing to drift down but a return up to the pivot is worth noting. Anyway, whoever controls the pivot will attempt to move forward to R1 or S1 and the plan for day trades is to catch rides between levels.
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Interesting day, Dow managed to break key support but recovered to a degree near end of session, oil fell then recovered to near starting level and gold rose then fell back to near starting level. Gold and oil remain in consolidation and so do the major indices, there is no great catalysts for any great fall as yet, the trade war lumbers on but the US economy remains strong, so far, the US GDP figures tomorrow awaited with some intrepidation.
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Added to this thread also;
HumanProgress.org @HumanProgress
"The Chinese government is threatening to cease exports of "rare earths" to the United States. Should Americans be worried? Far from it. The last Chinese "rare earths" embargo was a total dud. Read about the increasing abundance of "rare earths" here:"
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18 hours ago, Caseynotes said:
Meant to add in the post above that China today dropped a very broad hint (via unofficial sources) that they were considering banning sales of Rare Earths to the US in response to US increasing pressure on Huawei. There were also reports (rumours) that Huawei were thinking about an IPO in order to allay US fears of Chinese government interference in their operations.
HumanProgress.org @HumanProgress
"The Chinese government is threatening to cease exports of "rare earths" to the United States. Should Americans be worried? Far from it. The last Chinese "rare earths" embargo was a total dud. Read about the increasing abundance of "rare earths" here:"
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33 minutes ago, elle said:
A big read but the key takeaway points are very interesting esp, gold miners vs gold and the forward risk of more extreme monetary policy such as MMT.
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25 minutes ago, traveler said:
I put in an order to short the DOW last night. 28-29 May 2019.
Initially I was in the red, but afterwards (when I fell to sleep) it went into the black. I had a target of 100 points. I achieved that and closed at a profit.
But I was wondering if I could put in an order with a trailing stop in this type of order?
Hi @traveler, if it was an at market order on the 'Deal' ticket you can set a trailing stop by clicking on the arrow for the drop down box next to the set stop loss tab.
If you had set a resting order for entry from the 'Order' ticket you would need to wait for the order to be triggered and then set a trailing stop in a similar way in the 'Positions' tab.
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Meant to add in the post above that China today dropped a very broad hint (via unofficial sources) that they were considering banning sales of Rare Earths to the US in response to US increasing pressure on Huawei. There were also reports (rumours) that Huawei were thinking about an IPO in order to allay US fears of Chinese government interference in their operations.
Indices
in Indices and Macro Events
Posted
Seeing as everything seems to be stalled waiting for it here is a closer look at the US GDP chart, note this is the annualized 'Prelim' q/q, last months 'Advance' GDP came in at 3.2%. (see FF notes below);
Data due out at 1:30.