Wednesday, September 23, 2009

Bling Bling.

I am currently tasked to study the World Gold Market now, how it works and shit...

my nose is fucking bleeding.. I can't stop it from bleeding! haha!

if you're interested.. here are some of the terms the wicked traders use. You might get to use this once or twice in your life to either impress ladies, or impress their parents, especially if they are market traders, you need to know this shit.

if you are thinking of entering the market, wherein I believe in the NY COMEX, the minimum trade is 100 oz. Bid/Ask as of right now is USD 1,014.90-1015.90 so thats around minimum USD101,490??? hahaha... i'm not sure about this but that's how i understand it. If you have Golden Balls, by all means, trade the shit out of yourself.

Half of the terms here are used in all types of markets (equities, commodities, FX, whatever) excluding dry and wet. The other half are specific for Gold. Here goes:

Bar: Typical gold product, either for trading or for accumulation. Bars come in a variety of shapes weights and purities and different bars are favoured in different parts of the world.
Bear:Someone expecting prices to fall.
Bid/ask: Bid or buy is the price a dealer is prepared to pay for gold bullion. Ask or sell is the price offered by the seller. (see also definition of spread)
Bull: Someone expecting prices to rise
Bullion: Originally meaning "melting place" or "mint", probably from the French bouillon, boiling.
Bullion Coin: A legal tender coin whose market price depends on its gold content, rahter than its rarity or face value
Certificates: Gold certificates are a method of holding gold without taking delivery.
CFTC: Commodity Futures Trading Commission, the regulatory body in the US covering future markets
COMEX: the New York Commodity Exchange
Contango: The difference between a forward price and a nearby price when the former exceeds the latter
Delivery: The transfer of the asset from seller to buyer.
Delta: The proporortion by which the price of an option changes in response to a change in the price of the underlying asset.
European Option: An option that may only be exercised on the date of expiry.
Face Value: The nominal value given to legal tender coin or currency
Fineness: Gold purity. usually expressed in parts per thousand thus 995 or two nines five is 995/1000 or 99.5% pure.
Fix: The London gold fixing takes place twice daily over the telephone and sets aprice at which all known orders to buy and sell gold on a spot basis at the time of the fix can be settled. The London Fix is the world standard price.
Forward contract: a principal's contract that trades an asset for settlement on a specific date in the future. Each forward contract is "tailor-made"
Futures contract: an agreement to buy or sell a specific amount of a commodity or financial instrument at a particular price on a stipulated future date
GOFO: The Gold Offered Forward Rate (OR GO Forward Offered Rate), which is the rate at which dealers will lend gold against US dollars.
Gold Standard: A monetary system based on convertability into gold; paper backed and interchangeable with gold.
Hedging: The use of derivative instruments to protect agains price risk.
Karat: Unit of fineness, scaled from one to 24. 24 karat gold (pure gold) has at least 999 parts pure gold per thousand; 18-karat has 750 parts pure gold and 250 parts alloy, etc.
Liquidity: The quality possessed by a financial instrument of being readily convertible into cash without significant loss of value.
Lot: alternative term for a futures contract.
Mark to Market: The valuation of an open position as at current price levels.
Naked short: A seller of a contract who does not have the metal to back up his position
Spot Price: The price for spot delivery which in the gold market is two days from the trade date
Spread: The difference between Bid (the price a buyer is prepared to pay for gold) and Ask (the price at which a seller offeres to sell) prices.
Stale Bull: Speculator who has bough a commodity or trading instrument in the expectation of price rises and then sells on disappointment at the market's faiulre to fulfill his expectations.
Stop Loss Order: An order that will close out a loss making position when the price reached a specific level.
Troy Ounce: The standard weight in which gold is quoted in the international market, weighing 31.1035g

and my favorite:

Numismatic: Coins valued for their rarity, condition and beauty beyond the intrinsic value of their gold content.

Douche: You are Numismatic
Girl: What? Numismatic?
Douche: Yeah. You are rare, one of a kind, in exceptional condition and you have beauty beyond the intrinsic value of your golden heart.
Girl: *blush*

WTF?! hahah!

subukan mo nga! haha!

now i gotta go work.

image from here

Sunday, September 13, 2009

Thank God It's Sunday.

(from Tito Jojo Guingona's 2009 Calendar)

Man, I’ve been so busy with the banker life, well not as much as my peers, but you get my point. When I get home from Makati, I’m just too tired to do anything else but eat, watch TV and just lay on my dismantled bunk bed. Oh thank God it’s Sunday, and I have time to just chillax (that’s how the cool kids call chilling and relaxing nowadays, and I’m cool too).

I just checked the blog, and I noticed, people still do visit it, and I haven’t posted anything since august 17? Jahe naman, so here is another attempt to somewhat entertain you and put a smile on your face.

It’s sunny and windy! Just lovely after weeks of non-stop irritating rain which messes up my get-up to work. My Steve’s are getting wet! What up?! Sophia is here, we’re going to do nothing, together. We’re sweet like that.

I still haven’t read my August issue of Rogue cover to cover, and now is the time. Chillaxin (oh yeah) in our lanai, with my bro Chris Botti blowing his own trumpet with Sting, (a real trumpet, geez, you’ve got some dirty mind there) whose music can just relax you to the soul. With an attempt to make my own iced cafe’ mocha (Nescafe 3 in 1 + Ovaltine + Milk + Water + Ice), wasn’t very good but whatever, I just need some caffeine in my system due to last night.

Steady. But feakin’ a, our neighbor's helper is cutting their lawn with some irritating grass cutter. It’s so fucking noisy. It’s Sunday damn it! Can’t you do that tomorrow when everyone is at work!? Geez, trying to cover that annoying noise by pumping up the volume on Chris Botti’s trumpet. They are the worst neighbors ever. They used to call the cops (once or twice, even real cops, not just village security) on us when I would have parties back in HS and College. What a pooper. They even did a hate campaign on us. It was a failed attempt. Whatever, I won’t waste your time ranting about them; it’s just not worth it. Dump the bad vibes and let the good vibes roll. Yeah.

The August issue of Rogue is all about food. They feature tons of restaurants, food bloggers, filipino world-class chefs and a lot of stuff related to food. Restaurants, chefs, food and drinks have never been this interesting. If you want to try something new, away from the typical restaurants you find in shopping malls, and you just don’t know where to go? Grab a copy; I think they are still on the stands, hurry!

It’s getting gloomy and the wind is getting angry. It’s going to be a wet Sunday after all. Boohoo.

Pleasant wet Sunday to everyone. Keep it positive.