gunDriller
18th April 2010, 01:18 PM
For stocks there used to be an exchange that allowed you to trade after hours, and that served as a barometer of market activity. It allowed you to make educated guesses about the Dow & NASDAQ - or the direction in the price of gold.
That website was Island.com and now they're shut down but I'm using that as an example of what I'm trying to find.
Are there any oil-trading exchanges that track markets on the weekend, after markets close @ 2:15 PM Friday (that's when NYMEX closes) and before Australia opens up Sunday afternoon - when they're having their Monday morning. Aussies don't get up till late, the ASX exchange opens at 10 or 11 AM.
http://www.bloomberg.com/markets/stocks/wei.html
http://www.bloomberg.com/markets/stocks/wei_region3.html
Peak Oil members who invest in Precious Metals I'm sure have noticed certain correlations themselves, in terms of when prices go up and down.
Although Gold tends to track reliably & inversely with equity markets, recently I have noticed that the oil market has exactly mirrored (conversely) the gold market.
By inverse I mean they go in opposite directions. By converse I mean that when oil downticks to its low low on a day when it's price is decreasing, gold has nearly the same timing.
This is a 5 day chart of the oil prices, showing the downticks in oil to $82 & change on Tuesday & Friday mornings very clearly.
Link Here (http://finance.yahoo.com/echarts?s=CLK10.NYM#chart1:symbol=clk10.nym;range= 5d;indicator=volume;charttype=line;crosshair=on;oh lcvalues=0;logscale=on;source=undefined)
Well, it just happened that gold followed along, and hit 1145 and 1130, respectively, on Tuesday & Friday, reaching its low when oil hit its low, on both days. Same for silver.
As far as how this information is useful, for example, gold is right now about $1140. After the Friday low it crawled back up but it's still low relative to where it's been after the recent disclosures of fraud & manipulation in the London bullion markets.
So if I had a good oil price chart, if it was trending up into the $83's or $84's I would know that I should buy gold at $1140.
Or, if the oil had fallen further from $82 to $80 over the weekend, I would hold off on a gold purchase in anticipation of a lower price on Monday, especially when the NYMEX opens at 8 AM Eastern time.
So, this being Gold-Silver.us, I thought somebody might know of an after hours oil-trading exchange that hopefully has publicly available charts and indices.
Thanks !
EDIT: Replaced long link with named link to prevent forum from scrolling 2 pages to the right. -Gaillo
That website was Island.com and now they're shut down but I'm using that as an example of what I'm trying to find.
Are there any oil-trading exchanges that track markets on the weekend, after markets close @ 2:15 PM Friday (that's when NYMEX closes) and before Australia opens up Sunday afternoon - when they're having their Monday morning. Aussies don't get up till late, the ASX exchange opens at 10 or 11 AM.
http://www.bloomberg.com/markets/stocks/wei.html
http://www.bloomberg.com/markets/stocks/wei_region3.html
Peak Oil members who invest in Precious Metals I'm sure have noticed certain correlations themselves, in terms of when prices go up and down.
Although Gold tends to track reliably & inversely with equity markets, recently I have noticed that the oil market has exactly mirrored (conversely) the gold market.
By inverse I mean they go in opposite directions. By converse I mean that when oil downticks to its low low on a day when it's price is decreasing, gold has nearly the same timing.
This is a 5 day chart of the oil prices, showing the downticks in oil to $82 & change on Tuesday & Friday mornings very clearly.
Link Here (http://finance.yahoo.com/echarts?s=CLK10.NYM#chart1:symbol=clk10.nym;range= 5d;indicator=volume;charttype=line;crosshair=on;oh lcvalues=0;logscale=on;source=undefined)
Well, it just happened that gold followed along, and hit 1145 and 1130, respectively, on Tuesday & Friday, reaching its low when oil hit its low, on both days. Same for silver.
As far as how this information is useful, for example, gold is right now about $1140. After the Friday low it crawled back up but it's still low relative to where it's been after the recent disclosures of fraud & manipulation in the London bullion markets.
So if I had a good oil price chart, if it was trending up into the $83's or $84's I would know that I should buy gold at $1140.
Or, if the oil had fallen further from $82 to $80 over the weekend, I would hold off on a gold purchase in anticipation of a lower price on Monday, especially when the NYMEX opens at 8 AM Eastern time.
So, this being Gold-Silver.us, I thought somebody might know of an after hours oil-trading exchange that hopefully has publicly available charts and indices.
Thanks !
EDIT: Replaced long link with named link to prevent forum from scrolling 2 pages to the right. -Gaillo