Nairaland Forum

For trend followers is time to buy GU. Buy GU now(8:27am/ 5/22/2012) @ 1.5832 SL: 1.5732 T.P: 1.6005. This is a special alert for tend followers.

@Arthuryemi: good day sir,,, just sent u a mail! Plz reply and help a brother!! Thanks

All about positioning

The price action seen on both Friday and also yesterday reflects the fact that, it's all about positioning in the FX markets for the moment. This has been most evident on the euro, not only in the weekly CFTC data which is reflecting a record amount of speculative shorts, but also in the price action. The single currency has pulled away from a threatened break of the year's low, not that surprising after a run which saw EUR/USD up on only two of the last fourteen trading days. The Aussie has also corrected from the recent lows, partially reversing a downtrend of similar style as seen in EUR/USD. Even though the relationship between the two has broken down a little of late, stocks also look set for a second day of gains after the recent down-run. The underlying themes remain in place, namely continued concerns surrounding Greece and the other peripheral eurozone nations, so the current correction should not be aligned with a perception that things are improving underneath, because they are not.

That friday's inverted hammer on dax daily is the tonic. Keep riding with the bulls. When dow opens today, we shall continue with the ride.

For gold traders, this is a good place to place a buy. You can also place a buy limit at 1580.80

hey were is odiaero? Aka Are we there yet...It seems he is the one that has the clock of the market...his prediction is 78% correct....report to office Odiaero where is EU and Gu going to?

honeric01: All about positioning

The price action seen on both Friday and also yesterday reflects the fact that, it's all about positioning in the FX markets for the moment. This has been most evident on the euro, not only in the weekly CFTC data which is reflecting a record amount of speculative shorts, but also in the price action. The single currency has pulled away from a threatened break of the year's low, not that surprising after a run which saw EUR/USD up on only two of the last fourteen trading days. The Aussie has also corrected from the recent lows, partially reversing a downtrend of similar style as seen in EUR/USD. Even though the relationship between the two has broken down a little of late, stocks also look set for a second day of gains after the recent down-run. The underlying themes remain in place, namely continued concerns surrounding Greece and the other peripheral eurozone nations, so the current correction should not be aligned with a perception that things are improving underneath, because they are not.

A stitch in time saves nine!thanks

Ok, I got the iPad thing sorted out

market and its funny looks. am not moved yet

Time to enter long on EU, GU, GJ, EJ, CJ and AU if you want. refer to the previous alerts posted for reasons.

tonjoan: For gold traders, this is a good place to place a buy. You can also place a buy limit at 1580.80

Big bros,gd morning! I see that Naijababe has succeeded in taking you away from ur first love(currencies),ur insight and input in EU n GU can't be over-emphasised. As U enjoy ur commodities,don't abandon us completely.cheers.

odiaero: Always wise, took sell on Gold this morning and am happy for that, pocket 180 pips and am getting worried for venturing into Facebook shares

consult ur financial advicer on this one. meanwhile it lost 11% to close @ $34.03 yesterday.

Investors dump Facebook as shares slide

Facebook shares sank 11 per cent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 per cent from where they were Friday and driving others to switch back to more established stocks.

Facebook's debut was beset by problems, so much so that Nasdaq said it was changing its IPO procedures. That may comfort companies considering a listing, but does it little for Facebook, whose lead underwriter, Morgan Stanley, had to step in and defend the $US38 offering price on the open market.

Even so, one source said Morgan Stanley's own brokers were at one point "ranting and raving" about glitches that left unclear what trades had actually been executed.

Facebook shares ended down $US4.20, at $US34.03, on the Nasdaq. That was a decline of almost 25 per cent from Friday's intra-day high of $US45 a share.

"At the moment it's not living up to the hype," said Frank Lesh, a futures analyst and broker at FuturePath Trading, adding that some people may have decided to hang back and buy the stock on the decline.

"Look at the valuation on it. It might have said 'buy' to a few people, but boy it was awfully rich," he said.

The drop in Facebook's share price wiped more than $US11 billion off of the company's market capitalisation - it became a sufficiently interesting pop culture story that even gossip website TMZ did a brief item Monday morning.

Volume was again massive on Monday, with nearly 168 million shares trading hands, making it by far the most active stock on the US market. Nearly 581 million shares were traded on Friday.

The drop was so steep that circuit breakers kicked in a few minutes after the open to restrict short sales of the stock, according to a notice from Nasdaq.

Emotional trading

"One of the things that we are seeing in Facebook is a lot of emotional trading, in that over the weekend much of the media coverage was negative, and that could be weighing on investors' decisions to get out of the stock," said JJ Kinahan, TD Ameritrade's chief derivatives strategist.

Shares of other one-time Internet darlings fell in lock step with Facebook before rebounding on their own merits, with Yelp and Groupon rising. Zynga and LinkedIn fell, though.

The news was not all bad, though, as the Nasdaq rose 2.46 per cent. High-profile tech stocks rose sharply, with Apple up 5.8 per cent and Amazon 2 per cent higher.

FuturePath's Lesh said some investors took money out of Apple to buy Facebook, and now could be going right back in to Apple given the lackluster performance of Facebook thus far.

By mid-afternoon on Monday, though, there were indications that investors might be coming back in to Facebook. The stock was well off the lows of the morning, and some market players saw an entry point forming.

"We see 38 per cent of the ideas on Facebook are short and 62 per cent have a more long bias," said Tim Murphy, general manager for the Americas at TIM Group, which transmits and tracks equity trade ideas from 750 brokerage firms for institutional investors globally.

"Brokers are saying to their clients there is a good opportunity here."

Nasdaq changes

Still there was a long list of questions - ranging from whether the underwriters priced the shares too high to how well prepared the Nasdaq was to handle the biggest Internet IPO ever - and few easy answers.

"It was just a poorly done deal and it just so happens to be the biggest deal ever for Nasdaq and they pooched it; that's the bottom line here," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.

Nasdaq said Monday morning the changes it was making would prevent a repeat of what happened Friday, when glitches prevented some traders from knowing for hours whether their trades had been completed.

The exchange also said it would implement procedures to accommodate orders that were not properly executed last week, which could ultimately lead to compensation for some investors.

"It doesn't instill confidence for clients. Talk about trying to convince them it isn't a casino," one financial adviser said.

Separately, a source said Morgan Stanley's brokerage arm still had a "large number" of share orders from Friday that were not confirmed, which it was working to resolve.

A Facebook spokeswoman declined to comment on the share price issue.

Some financial advisers, who might have been furious last week at getting left out, were counting themselves lucky by Monday that they did not get their clients involved.

"By pure luck I failed to talk it up with a lot of clients because I didn't think I would be able to get much," said one Raymond James adviser, who sought, and received, only 500 shares for one client.

"I basically told people they weren't going to get any, and luckily, it proved to be a bust," the adviser said.

Reuters


http://www.theage.com.au/business/world-business/investors-dump-facebook-as-shares-slide-20120522-1z1vj.html

mekuzoil:



Big bros,gd morning! I see that Naijababe has succeeded in taking you away from ur first love(currencies),ur insight and input in EU n GU can't be over-emphasised. As U enjoy ur commodities,don't abandon us completely.cheers.

I have no such plans. How has it been?

buying eu and selling uchf here

buy aud here.

odiaero: Show off time, brother forex is good, crazy me with millions in naira equivalent

why didnt u show ur face so we can plan ur kidnap. Now that we dont know d face behind the doss pls come kidnap us o.

tonjoan:

I have no such plans. How has it been?

It's been good bro,God has been faithful.

odiaero: Show off time, brother forex is good, crazy me with millions in naira equivalent

Well, let's say you are just encouraging some of us never to give up cos someday,the young shall grow,but pls remember that 10% of that money belongs to God,remember also the less privileged in our society,enjoy!

Locked my Gold profits @ 170 pips.
@odiaero. Congrats bro. celebrate. but be careful. u can expose urself to danger without knowing it. "Lord protect me from my friends, i can take care of my enemies"

Have u seen this? http://www.nairaland.com/837152/word-odiaero

Where Could USD/CAD be heading ......... based on this i consider a retracement downside

Wanna buy GU at current price for a 50pips profit.