"THE MARKET... consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Alexander Elder

Sunday, June 1, 2008

Monk of the Month

Your comments,
tips and prognostications.


Charles Longfellow said...

In recent weeks, there have been two dissenters with regards to GOLD going higher: Kitco spokesperson and Elliott Wave International. Volatility is a convenient way for all parties to be right, some just sooner than others. But what if gold really is approaching a bear market. I don't believe this is the case. However, if it is true that the golden luster is playing the bulls for fools, could we become believers?

Charles Longfellow said...

point of reference: as of current date, gold is trading just under $900.

fornow said...

Who knows. If its true that they are overselling certificates, then perhaps Kitco has a vested interest. EWI is interesting. Be curious to see what happens. Even with established patterns, exceptional circumstances can break the rules.

eXTReMe Tracker

What is a Bucket Shop?

"Bucket Shop is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. [2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market."
see: Wikipedia

The SEC believes that "internalization" is somehow different, and this affects ALL of your online trading, no matter what you are trading. Trades that are executed outside of the exchange, never reaching the main market, effectively hide data from technical analysis, and skew pricing.
see: Not a bucket?

"... internalization hurts retail customers and market quality"

see: EconPapers

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