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amathevs21 joined. |
| amathevs21 |
HI Joe, Hi Everybody ::smile |
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JoeRoss joined. |
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tod joined. |
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marsh joined. |
| JoeRoss |
Good evening everyone. |
| tod |
Good evening. |
| marsh |
Hi Joe |
| JoeRoss |
The markets are really volatile and the margins are astronomical. |
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Joy joined. |
| JoeRoss |
The days of trading with a $5,000 account are just about obsolete. |
| JoeRoss |
There are very few contracts that have margins as low as $500 and those are spreads. |
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georgia joined. |
| JoeRoss |
Evenin ladies! |
| Joy |
Good evening, Joe! Did you have a good afternoon with your student? |
| georgia |
Hi Joe. |
| JoeRoss |
Yes Joy, it was great! |
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jessica joined. |
| JoeRoss |
Georgia what happened to your beautiful picture?? |
| JoeRoss |
Hi Jessica. |
| Joy |
Hi girls! |
| jessica |
Hi, Joe |
| georgia |
I dont know! |
| Joy |
Hello marsh! |
| jessica |
Hi, everybody. |
| marsh |
Hi Joy |
| JoeRoss |
Georgia, just click on Action and choose the Avatar again. |
| JoeRoss |
Aha! You did it! |
| georgia |
Here thank you! |
| Joy |
Joe: you were talking about margin increases from the volatility? |
| JoeRoss |
Joy: Yes, margins are very high due to the excessive volatility, but also because of fear by the exchanges and brokers. |
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gr joined. |
| JoeRoss |
Welcome gr. |
| gr |
Hi Joe. |
| Joy |
Joe: Wouldn't the increase in margins also result in thinner markets like CL and GC since only traders with deep pockets can participate easily now? |
| JoeRoss |
Joy: That is true. |
| JoeRoss |
Looks like the dollar rally is about over, doesn't it? |
| Joy |
Joe: Yes, and your DX/Euro spread was a great tip this afternoon. |
| Joy |
Joe: I have a general question on the interest-sensitive markets: While both prices for Eurodollars (EDZ8) and Treasury Bonds (USZ8) moved dramatically during the last week of volatility, the differential spread (USZ8-EDZ8) in dollars show Bonds prices have moved faster. |
| Joy |
Is this the result of Bonds prices reflect both interest rates and flows of cash in and out of equity markets? |
| JoeRoss |
gr and tod, don't be shy about joining in. Ask question, make comments--trading, investing, politics, economics. |
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MartinS joined. |
| JoeRoss |
Anyone here feeling fear about what's happening in the financial world/ |
| JoeRoss |
Hi martin. |
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KiwiDave joined. |
| tod |
We better check the dollar after the prez completes his talk. |
| MartinS |
Hi. |
| KiwiDave |
gid'ay |
| JoeRoss |
kiwi: how did the trading go? |
| KiwiDave |
Very good i like these spreads Man Andy and there are others out there they are so clued up.... |
| Joy |
Hi Dave, twice a day! |
| JoeRoss |
The spread traders are riding high these days, and all this volatility isn't bothering them a bit except for the very high margins even on spreads. |
| KiwiDave |
Joy yes you can cram a lot in like this... I am designing my own house to so that's why I was a bit late hope to start building in March 09. |
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Andrea joined. |
| JoeRoss |
Hi andrea |
| Andrea |
Hello. |
| KiwiDave |
Yeah what are people on about what voltility Joe I just don't see it. |
| JoeRoss |
One of these days this is gonna be an all ladies chat :-D I won't mind! |
| Joy |
:-) We don't lack handsome gentlemen, Joe. |
| amathevs21 |
Joe: Me Too ::beer |
| JoeRoss |
kiwi: You won't see it in the spreads. |
| amathevs21 |
Joy:Thanks Joy. |
| KiwiDave |
Except in the outrights interesting to watch things leaping about and the comfort of not being in them |
| Joy |
Joe: Remember your advice to buy put options on Eurodollars once the Fed has raised interest rates once? It seems Eurodollars dropped plenty over the last few days. |
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LindaR joined. |
| JoeRoss |
Joy: The anticipation for rampant inflation is very high, which means pretty soon the FED will have to raise. But I think they are waiting for the election. |
| JoeRoss |
Hi Linda. |
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BruceB joined. |
| KiwiDave |
The world is waiting for the election. |
| JoeRoss |
Yo, Bruce. |
| Joy |
The world is waiting for this bailout package too. |
| Joy |
We are all in suspense. |
| BruceB |
Good evening Had a log in problem. |
| KiwiDave |
It is the most talked about thing down here and in NZ. |
| Joy |
Hi Bruce! How is the wheat coming along? |
| BruceB |
It is all combined. Neighbors said around here is was pretty good. |
| amathevs21 |
Joy: right Joy, if we look at the charts like yesterday seem has got triangle pattern in Asian session to London Session yesterday, it means reflected the frustated market. |
| Joy |
Cool, we need some good news ;-) |
| Joy |
amathevs21: yes, and taxpayers frustrated too. |
| amathevs21 |
Joy: agree Joy ::beer |
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Nathan7 joined. |
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philippe joined. |
| JoeRoss |
The good news is that although it may seem like the end of the world, it won't happen yet. |
| amathevs21 |
Joe: Right Joe |
| JoeRoss |
Hi Nathan, Philppe |
| Joy |
Joe: yet? Will you guess 'end of yet' for us? I know I am being bad again :-) |
| philippe |
Hi Joe, Hi all , from Sunny Shanghai. |
| Nathan7 |
Hello. |
| JoeRoss |
philippe: Can you actually see the sun through all the air pollution? |
| JoeRoss |
euro is moving up, has Bush finished his speech yet? |
| philippe |
well Shanghai definitely less [polluted than Beijing ;-) |
| KiwiDave |
I think sometimes that when you are training in conditions of today I wish for more stable times however what better training conditions we have now for when more stable times come it will be easrier |
| BruceB |
Bush is done talking. |
| jessica |
But these days Beijing is good. |
| Joy |
Joe: See where you take the debate to? :-) |
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Gil joined. |
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sb123 joined. |
| jessica |
Sorry ::smile |
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acman joined. |
| Joy |
Don't be sorry, Jess... it's fun :-) |
| Joy |
Speaking of fun, hi acman! |
| JoeRoss |
Wow, 17 people tonight so far. |
| amathevs21 |
Joe: If the bailout has been approved by the congress, what happen will be to US DOllar & what happen will be to EURO ? |
| KiwiDave |
Hey there Acman healthy one. |
| sb123 |
joe recently Oct. crude rose like gangbusters and Nov, Dec rose only 2-3 dollars...was this option related ??? |
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Rod joined. |
| amathevs21 |
Acman my man how are you buddy ::biggrin |
| JoeRoss |
amathevs: The dollar will be doomed, and the euro will go higher for awhile. |
| MartinS |
Is this a fundamental forum or technical ? :-) |
| JoeRoss |
sb123: I don't know the answer to that one. |
| JoeRoss |
Martin: It's anything you want it to be. |
| amathevs21 |
Joe: IC Joe, is there any change will be support Dollar if that scenario happens? e.q. The FED raise the Intrest rates or anything ? |
| MartinS |
Interesting but in your books you mainly argue technicals correct ? |
| amathevs21 |
Joe: maybe the Election can be save Dollar (e.q.if Democrates Win). |
| JoeRoss |
amathevs: FED will probably raise after the election. You have to realize that the problem in the US is not the economy. The problem is financial, not economic. |
| gr |
joe, commodities price going to be higher as dollar lower in coming months? |
| acman |
Doing Fine: Had fantastic week of trading so far. Looks like the ER (russel 2k) now TF did a little over 2/3 retracement down and now going sideways. |
| Joy |
acman: no more margin calls? |
| JoeRoss |
Martin: I don't argue anything. The books have a lot of technical stuff, but the books aren't everything. |
| MartinS |
ok :-) |
| gr |
Why election can save dollar? |
| amathevs21 |
MartinS: both of two Buddy Fundamental & Technical. |
| JoeRoss |
amathevs: I don't think anything can save the dollar in the long run. |
| amathevs21 |
Joe:IC Joe, Thanks a lot. |
| KiwiDave |
Yes more printing presses Joe. |
| acman |
No more margin calls Joy. The KW spread is using a lot and the er-ym spread has increased. The KW spread is $3k per contract! They wouldn't have a housing problem if they did the same thing to house loans. Increase the amount down when the volatility increases! |
| JoeRoss |
gr: Sure, commodities will be higher because most are priced in dollars. |
| KiwiDave |
They are not printing the stuff fast enough. |
| Joy |
Joe: Speaking of technical, I have a chart question. |
| Joy |
Joe: You referenced a term “matching congestion” when explaining why the breakout of a small congestion was significant: you said it was a matching congestion to the two bar congestion on the left side of the hook. |
| acman |
I went to Wells Fargo last week and they just got a new shipment of money in that day! It was older bills 2003 but still was interesting. |
| Joy |
I’d like to understand how to identify and use the concept. When I studied the ZF Z8, daily chart, I saw a small 123-H during 9/5 (#1) – 9/11 (#3). And there was a 2 bar congestion before 9/5 (#1 point). There was also a small congestion after the #2 bar through 9/13. Is the small congestion area a ‘matching congestion’ to the 2 bar congestion before the #1 bar? |
| JoeRoss |
Martin: It's pretty difficult to do technicals on a text only chat :-D |
| philippe |
Joe what s ur opinion about Gold right now? |
| gr |
But the economy will slow down, and fundamentally not support the higher commodity price. is that right? |
| acman |
Marsh: you still jetlagged? I hear you had a 30 hour flight yesterday! |
| Joy |
acman: what does that mean? Wells Fargo used up all of the money printed after 2004 already? |
| gr |
For example, right now the export of grains is not strong, |
| marsh |
Only 16 hours of flying. but I was up 34 hours. |
| acman |
Joy: I got a few grand out I think it was around 7K and she said they just got a shipment in. I was moving it to another bank so I could buy more stock. |
| KiwiDave |
Joy come off an old printing press theyv'e taken out of moth balls. |
| Rod |
Hi Joe Sorry to be late joining. Can I pls ask a ? re: futures contracts and backwardation? I’ve been trying to study up on futures markets, and I understand that when the nearby contract is worth more than the future months, then this can be very bullish. But how often does this occur? And can it occur with stock market indexes (Dow? S&P500? Etc) or is it just something that happens with commodities? Hope this makes sense. |
| acman |
Marsh: glad to see you made it home. |
| JoeRoss |
Joy I don't see a match there. |
| Joy |
Dave and acman: LOL - you guys make me laugh every time! |
| JoeRoss |
philippe: I think gold will go up, but we need a 2-3 bar correction coz it went up so fast. |
| Joy |
Joe: Thank you! I'd better re-read that chart :-) |
| JoeRoss |
gr: I don't know when the economy will slow down. After the crash of 1929, the economy did not go down for 2 years in 1931. |
| acman |
Joe: I know that silver is up and the demand for the Morgans is up because I have only won 2 out of 20 auctions this past week using the same pricing guide I have been using all summer. |
| acman |
Joy: you trading the ZF? Which contract is that? |
| BruceB |
Joe You have talked about the Gold - Silver ratio moving toward the 15.7 - 1 area. Does this happen very slowly as economic conditions around the world worsen? |
| JoeRoss |
Rod: There is no way to determine how often inverted markets occur, but they happen primarily in commodities and rarely in interest rate contracts. |
| philippe |
Gold has very strong moves now... for mid term investment, do u think a even stronger correction could take place given the general situation? seems unlikeley, no ? |
| Joy |
acman: It's Treasury Note 5 year - electronic market's symbol. |
| Joy |
I think you do a lot of spreads with the day markets. |
| KiwiDave |
If anyone interested they are going to cut the New Zealand dollar interest rate next month the govenment owned kiwibank has already cut its rate by .3% so the dollar will fall again. Only the NZ dollar a cut in their rate doen't affect the Aussie |
| Rod |
ok. many thanks, Joe. Yes, in the commodities (demand?) and less in interests rates makes sense. I couldn't see why this might happen with stock indexes. thanks |
| JoeRoss |
Bruce: Sometimes it can happen quite quickly. When gold gets beyond the "poor man's" reach and if he is panicked, the small investor will buy silver like there's no tomorrow. |
| amathevs21 |
Joe: its that true that "Housing" is a Fundamental leading indicator of the economic growth of the country ? |
| JoeRoss |
philippe: It's unlikely as you say. |
| philippe |
That was going to be my next question Joe. whcih silver spread would u revcommend? |
| amathevs21 |
Joe: i mean "The Housing Sectors" |
| acman |
Joy: Duh! I thought it was familiar. I had a bunch of spreads last week when I sold out everything due to high account net worth. I liquidated everything. I could have stayed in the SF-JY and 10 of the FV-TY and made another 10k or so but I wanted to close out the week on a really high high high note! I got most of that Russell move on spreads and UWM so I made almost 20% on my entire trading balance in all accounts in the 3 days. |
| MartinS |
Joe: have you checked the mini Russell lately ? Any thoughts ? |
| JoeRoss |
amathevs: Housing is a leading indicator, but not always of the economic growth of the country. I have seen times when housing was low and the economy was booming. Housing won't go anywhere if there is a decrease in population. |
| amathevs21 |
Joe: Thanks Joe |
| JoeRoss |
phillipe: I don't know which silver spread, I would have to look at them to decide. |
| philippe |
ok thanks Joe,, thats what I'm doing.. :-) |
| Joy |
Or we can all be like acman and buy silver off eBay :-) |
| JoeRoss |
Martin: I have been watching the TF every day. I want to learn how it moves on the ICE. Volume is very good. today it was over 146,000 contracts. The moves are decent. What I don't know about yet are the fills and how they handle orders. For example: will a stop order on ICE be filled in the same way as it was on the CME? |
| MartinS |
ok thanks |
| acman |
Joe: the indexes are ready for a 1,2,3 to the upside on the daily charts if they take out yesterdays high. The nasdaq only has to move 3 points to do it. |
| JoeRoss |
If anyone has had any ICE experience, we would all like to hear about it. |
| MartinS |
I follow the DAX and the mini SP500. |
| BruceB |
A friend has order many 100 oz. silver bars and will have to wait 6-8 weeks to get his order filled. Physical silver is already in short supply. |
| JoeRoss |
Bruce: I've been saying that silver is in short supply for many weeks. |
| JoeRoss |
Its true. |
| acman |
Joe: I have been trading the TF since wednesday last week and it I notice no difference from the ER2. Tradestation had a smooth transition and all historical comes up under the TF symbol. I trade it several times a day. |
| JoeRoss |
acman: which type of orders have you been using? |
| gr |
what is TF? |
| JoeRoss |
gr: emini Russell on the ICE |
| acman |
Joe: I use mostly market. with a simultaneous buy/ sell the YM at same time. |
| Rod |
and ICE, pls? |
| gr |
thanks , |
| JoeRoss |
Rod: ICE is the Intercontinental Commodity Exchange. |
| KiwiDave |
Or something that you put in your coke drink. |
| BruceB |
That article you had in the TMC post by Mr. Butler, about silver market being manipulated was very enlightening. |
| MartinS |
They had to pay a lot for the Mini Russell I guess. |
| acman |
Joe: they are giving 2 months free exchange fees with the tradestation, don't know about the other services. |
| Rod |
thankyou ::rolleyes |
| gr |
bruceb, where to get the article? |
| JoeRoss |
acman: IB has it for free also. |
| MartinS |
mini Russell is free in Esignal. |
| amathevs21 |
Kiwidave: lol |
| KiwiDave |
yeah I had the same deal free live data from ICE. |
| BruceB |
Join Joe' s Traders Money Club |
| BruceB |
Money very well spent. |
| JoeRoss |
Did you see the new TMC that went out today? |
| MartinS |
TMC ? |
| JoeRoss |
I havent' looked yet and I have to see if it came up on RSS. |
| JoeRoss |
Martin: TMC=Traders Money Club |
| BruceB |
It is not posted yet. |
| MartinS |
ok |
| JoeRoss |
Ouch. |
| JoeRoss |
It was supposed to be posted today. |
| KiwiDave |
MartinS: they use all sorts of abbreviations on here you and I need a dicionary. |
| BruceB |
It does not come up on my log in. |
| MartinS |
Joe: still no worries regarding safety of funds in futures accounts ? :-) |
| MartinS |
KiwiDave: yes youre right :-) |
| acman |
Sounds like they kept everyone using the Russell. |
| JoeRoss |
How is this for an abbreviation: funem? svfm! funex? svfx! ok,lfmnx! |
| KiwiDave |
haha. |
| acman |
Hard to read that joe: |
| JoeRoss |
Martin: NO worries. |
| Rod |
Looks more like a swear word, Joe |
| philippe |
joe, only a few minutes left.. what's your hot tip for today? hehe trying to get a free tip from the master ;-) |
| MartinS |
ok I like what you say I have a lot with a US FCM |
| KiwiDave |
There are two problems with this industry one: tooooo much information. two: it's all abbreviated !!!! |
| MartinS |
Very little in USD but still. |
| JoeRoss |
philippe: I really don't have a tip. I've been buried alive with problems around here and haven't had a chance to study the markets. |
| amathevs21 |
Phillpe: Yeah you're right, we need a little tips & tricks from Joe ::wink |
| JoeRoss |
But before I leave I will translate the sentence for you. I thought maybe some one here has seen it before. |
| sb123 |
hot tip...do what acman does... |
| philippe |
ok sorry joe.. btw, i missed the last chats. i hope Ike didnt do too much damage to you and around,.. ? |
| BruceB |
It is always a pleasure to chat with you Joe. Do not need an extra tip!! |
| JoeRoss |
We missed you phiippe, but we survived ;-) |
| philippe |
thats good so..! |
| acman |
sb: spreads are nice. Watch the margins. Take small losses. Plan the trade, trade the plan! |
| KiwiDave |
Joe i see the oldest man in Japan is 113 things are looking up long term for you if you keep growing those veges in your garden that was his secret to longevity. |
| MartinS |
Joe: when will you update the archived chat logs ? I read every one. |
| Joy |
Joe: I hope you can dig yourself out of the problems. Let me know if I can help! |
| JoeRoss |
Martin: they were supposed to be updated today. |
| acman |
Dave: Don't have answer on the cheese dreams yet. |
| MartinS |
aha will look thanks :-) |
| sb123 |
ad/cd was good for several months....now cd/ad been good. |
| Joy |
acman: The cheese dream! How do you remember?! |
| JoeRoss |
Here's the translation of the sentence: Have you any ham? Yes, we have ham! Have you any eggs? Yes, we have eggs! Ok, I'll have ham and eggs. |
| acman |
Joy: I have discussed that with some people and see if they have that happen also. |
| KiwiDave |
Nope i like cheese except it's all processed and that's not good have to find a Dutchman that makes good cheese |
| Joy |
acman: There, THAT is the meaning of the cheese dream: Joe had it all! |
| JoeRoss |
Good night everyone. I'm really exhausted and will go down and drink some ginger juice and echinacea. |
| MartinS |
take care Joe |
| philippe |
thanks Joe take care and get some rest |
| Joy |
Good night Joe! Take care!! |
| Rod |
good night joe, thanks for everything |
| amathevs21 |
Joe : Goodnight Joe, & Thanks for everythings |
| KiwiDave |
Good on ya ,mate |
| BruceB |
Good Night everyone |
| MartinS |
good night :) |
| acman |
That definitely take the cake joe: |
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JoeRoss left. |
