Gold Monitoring Thread $ (USD) only

[Minimalist]

7 minutes ago, dicker said:

Sarao wrote (actually had someone to write for him) an programme to book then cancel trades.  Known as spoofing and is monitored for on all exchanges.

I understand that the flash crash trades we’re fully executed.  

Sarao was subsequently arrested in (I understand) his bedroom at his parents house in Hounslow.

He literally spoofed during a crash. He wasnt to blame. The way you have applied the terminology is actual disgusting and by the way I actually shared a floor with him back in the day. 

[HerefordBullyun]

4 minutes ago, dicker said:

Not quite.  JP Morgan settled just under a billion dollars last year for spoofing. 

All involved fired Fired with all bonuses clawed back.

Best

Dicker

Fired not jailed......

If the little guy did it..... just saying

[Minimalist]

10 minutes ago, HerefordBullyun said:

All good for banks to do it though eh? Or goldmans big short. Or Soros crashing the pound. Not one of them went to jail - funny old thing.......

Exactly.

The stockmarket crashed during the period of time. But the big banks, media and stated it was Navs fault hahahaha its an actual joke. Im sick of the ignorance. 

[dicker]

5 minutes ago, Minimalist said:

He literally spoofed during a crash. He wasnt to blame. The way you have applied the terminology is actual disgusting and by the way I actually shared a floor with him back in the day. 

Not correct. He was spoofing for months and had come to the attention of the exchange who tried to get in touch a number of times. 

Jail anyone who manipulates markets.  It’s the only way.  
 

Best

Dicker

Edited August 13, 2021 by dicker
Typo

[HerefordBullyun]

2 minutes ago, dicker said:

 

Jail anyone who manipulates markets.  It’s the only way.  
 

Best

Dicker

JP Morgan would be empty along with HSBC and few others to mention.....

[dicker]

Simply not true and JPMorgan aggressively sue those who asset that to be the case…..

 

[Minimalist]

4 minutes ago, dicker said:

Not correct. He was spoofing for months and had come to the attention of the exchange who tried to get in touch a number of times. 

Jail anyone who manipulates markets.  It’s the only way

No, he was taking advantage of algos. Fact. What you read is nothing more of an indication of ignorance. The big banks got all hurt, emotional and couldnt accept it so they went after him. Thats the truth.

[dicker]

If you want to understand, read Madoff with the money.

 

[LawrenceChard]

25 minutes ago, HerefordBullyun said:

All good for banks to do it though eh? Or goldmans big short. Or Soros crashing the pound. Not one of them went to jail - funny old thing.......

I don't think Soros was doing anything illegal when he very astutely shorted the pound. It was our politicians, and possibly central bankers stubbornly and stupidly trying to maintain the pound at a fixed rate.

[dicker]

4 minutes ago, Minimalist said:

No, he was taking advantage of algos. Fact. What you read is nothing more of an indication of ignorance. The big banks got all hurt, emotional and couldnt accept it so they went after him. Thats the truth.

When you state the truth, it differs from the legal record of the case in question.  This was not a case of banks being “hurt” they wouldn’t notice the losses. This was detected by exchange surveillance   

https://www.simmons-simmons.com/en/publications/ck0amroczdj0u0b59bvu07j5w/11-navinder-sarao-pleads-guilty-to-spoofing-and-wire-fraud-in-chicago-federal-court
 

 

2 minutes ago, LawrenceChard said:

I don't think Soros was doing anything illegal when he very astutely shorted the pound. It was our politicians, and possibly central bankers stubbornly and stupidly trying to maintain the pound at a fixed rate.

Absolutely.  Lamont and Major defending Sterling made him a billionaire very quickly. 

[LawrenceChard]

On 09/05/2021 at 19:41, DarkChameleon said:

I was just watching an investor showing how to get returns and he threw a dart at a board of random shares and managed to beat a professional managed portfolio, Warren buffet did the same with a bunch of monkeys and beat a strategic portfolio...at the end of the day the only thing guaranteed on a professionally managed graph driven investment plan is that the professional will make money, the hedge fund will make money but the person 8nvesting will be lucky to beat the market.

I think that was terrible Warren Buffett throwing darts at a bunch of innocent defenceless monkeys! 🙂

[Minimalist]

4 minutes ago, dicker said:

When you state the truth, it differs from the legal record of the case in question.  This was not a case of banks being “hurt” they wouldn’t notice the losses. This was detected by exchange surveillance

What on earth are you on about? Of course they did. That was the whole point of action.

And by the way, the "wire fraud" is nonsense. He failed to secure lev'd capital. But if the Banks dont, they get a bailout. Honestly, I seriously dont think you can see through it.

[Minimalist]

9 hours ago, HawkHybrid said:

a poor understanding of markets that leads to the conclusion of manipulation?

When its completely admitted by the crooks themselves (big banks) that they manipulate the whole system. But it must be a poor understanding. F*ck me man. *shakes my head*. Youre at the windup. Theres no way you believe that.

[LawrenceChard]

26 minutes ago, dicker said:

When you state the truth, it differs from the legal record of the case in question.  This was not a case of banks being “hurt” they wouldn’t notice the losses. This was detected by exchange surveillance   

https://www.simmons-simmons.com/en/publications/ck0amroczdj0u0b59bvu07j5w/11-navinder-sarao-pleads-guilty-to-spoofing-and-wire-fraud-in-chicago-federal-court
 

 

Absolutely.  Lamont and Major defending Sterling made him a billionaire very quickly. 

Defending? 🙂

[dicker]

He entered and cancelled traded spoofing the market for 5 years.  He was repeatedly warned by the CME (via his broker) who (like any exchange) operate trading surveillance.  

This is all neatly documented in the legal proceedings and his admission of guilt.

As per a previous discussion where you stated fiction as fact “the corporation of London is owned by banks”, you end up being rude and demeaning.  Again, I won’t keep debating what is written fact vs. what I can best describe as conjecture.  

I deal in facts and only facts and I don’t use insults to anyone in my life.  On that basis, I will leave this “debate” here. 

Forum members are more than welcome to review the case information that is in the public domain.

Back on topic 1282.

Best

Dicker

[dicker]

8 minutes ago, LawrenceChard said:

Defending? 🙂

They tried…what a couple of days….

[LawrenceChard]

16 hours ago, dicker said:

They tried…what a couple of days….

Sure.

When I wrote "Defending?", I was thinking that if they had simply let it go, and find its own level (floating, or it could be sinking), it would have saved the country's treasury billion, which would have been retained valued for the UK and pound, so the end result is that the pound and the UK would have ended worth more if they had not defended it.

(My Law of Unintended Consequences)

[dicker]

I completely agree. And Mr Soros became a wealthy man very very quickly.  

[DarkChameleon]

19 hours ago, LawrenceChard said:

I think that was terrible Warren Buffett throwing darts at a bunch of innocent defenceless monkeys! 🙂

Especially when these monkeys had just typed the entire works of Shakespeare and circled the globe in space, they don't deserve darts, they deserve the iron cross....lol.

[sixgun]

Interesting and bullish chart - the quarterly XAU/USD chart. Gold finding support at $1675 - looking at the daily chart the recent dip in price was the third tap on that level this year and it held up each time.

.

[HawkHybrid]

On 13/08/2021 at 17:45, sixgun said:

What are you talking about?
Why are you posting charts from Bullion-by-Post and talking about candlesticks?

https://www.youtube.com/watch?v=3WBuC800lLg

 

bullish hammer reversal only exists if a youtuber makes a video about it?

 

HH

Edited August 15, 2021 by HawkHybrid

[Zhorro]

Powell doesn't say much at the Jackson Hole virtual conference so stocks are up, the dollar is down, and gold is up!

https://www.zerohedge.com/markets/market-reacts-powells-dovish-comments-stocks-surge-record-high-yields-drops-dollar-tumbles

[HawkHybrid]

On 13/08/2021 at 18:40, LawrenceChard said:

The last time you said I was wrong, I asked you to explain, which you failed to do, but now you are repeating the same unfounded and inaccurate claim, and will probably again fail to explain.

Actually I probably got it wrong last weekend, in your terms. As I said in an earlier post 

 

By luck or good judgement, we held off our daily top up buying of new bullion coins late last week, so instead of buying silver based on £18.50+, when we resumed early this week, we were buying based at spot prices under £17 per ounce. This also applied to gold bullion, where prices dropped from £1300+ to about £1250 per ounce, although gold has now recovered some ground and is currently over £1270 per ounce.

Since then, we bought about 620 ounces of gold, and 14,000 ounces of silver.

I have not bothered to work it out, but at a quick guess, we saved or made about £30K on the gold and about £20K on the silver.

I'm looking forward to the next time I am wrong. 😎

 

P.S. A slight apology is perhaps due. My comments and actions mentioned above were all done while thinking about P.M. prices in sterling. I just noticed that this topic is for monitoring gold prices in U.S. dollars only. My excuses are (1) that I tend to think in English, and (2) that I was primarily responding to a tagged mention, and did not see the topic heading until a few hours later. 🙂

 

out of curiosity, would the gold that you bought after the drop last for 2 months worth of trading?

would it last for up to 9 months worth of trading?

 

HH

[LawrenceChard]

22 minutes ago, HawkHybrid said:

 

out of curiosity, would the gold that you bought after the drop last for 2 months worth of trading?

would it last for up to 9 months worth of trading?

 

HH

Probably less than a week! 🙂

[HawkHybrid]

20 minutes ago, LawrenceChard said:

Probably less than a week! 🙂

you should buy more on the dips 

similar to 2012, you probably still need stock for trading even on falling prices.

 

HH

Edited August 28, 2021 by HawkHybrid