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  • #34,161
  • Jun 3, 2012 7:56am Jun 3, 2012 7:56am
Quoting Likerty
Anyone knows a website where weekend quotes are shown..?
Oanda - no good - to much of spread involved..
xe.com
  • #34,162
  • Jun 3, 2012 7:59am Jun 3, 2012 7:59am
Quoting Logik
xe.com
Thanks!
69
  • #34,163
  • Jun 3, 2012 8:27am Jun 3, 2012 8:27am
Quoting forextraderx
Why do you say so PT? I know B is speaking this thurs, and with the recent NFP, i see a fair chance of him hinting at it...

but that's PURE guesswork on my part. what I wanna know is what makes you feel so strong that QE3 is not gonna pop up in some rhetoric from the U.S. Fed/Government this week? or for the next couple weeks for that matter?

X

P.S. I still wouldn't short the GBP/USD here tho.... not sure if that was clear or not. I want 5500 minimum... 5600+ is really good, and anything 5650+ would feel like a nice little xmas present...
Oh he may hint at it and the Hopium gang will jump on it and give risk assets a boost (and devalue the USD). However, will he actually do it? No, I don't believe so. Not unless things get really really bad, and then I don't believe the Fed will buy more US Gov debt. Doing so will only make the market happy and will do nothing to boost the real economy. Although they may do something to make it appear that they are not just sitting there doing nothing, but not QE3.

The Fed's mandate is to control inflation/deflation and boost employment. It is not to make the markets happy. The only people in Washington who have the power to effectively boost employment right now are the sacks of s**t in congress who (it seems) would rather see O'Bummer go down in flames than do anything to boost employment... and therein lies the problem. As such I expect Bernanke's message to include a stern warning to congress to get off their a$$es.

As for the GBP/USD, I cannot comment intelligently on that because I don't really follow it enough.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,164
  • Jun 3, 2012 8:32am Jun 3, 2012 8:32am
Quoting Likerty
Anyone knows a website where weekend quotes are shown..?
Oanda - no good - too much of spread involved..
Weekend quotes are pretty much useless unless youre trading.
  • #34,165
  • Jun 3, 2012 8:33am Jun 3, 2012 8:33am
Quoting lumesh

Any particular reason why elections would dampen the odds of QE ? Or you're just talking about the time scale, meaning that the FED needs more time to consider the importance of a QE3 ?

As far as the uselessness of QE3 goes, then i have to disagree with you because Benny has clearly said (and i quote word for word...well almost): "We don't hesitate to do MORE accomodation through the EXPANSION of our balance sheet". IMO, that's a sign that the FED does not think QE3 would be useless, especially when they go into the mortgage market.
For the gist of my reasons regarding "No QE3", just read what I responded to X.
Quoting PipTrapper
Oh he may hint at it and the Hopium gang will jump on it and give risk assets a boost (and devalue the USD). However, will he actually do it? No, I don't believe so. Not unless things get really really bad, and then I don't believe the Fed will buy more US Gov debt. Doing so will only make the market happy and will do nothing to boost the real economy. Although they may do something to make it appear that they are not just sitting there doing nothing, but not QE3.

The Fed's mandate is to control inflation/deflation and boost employment. It is not to make the markets happy. The only people in Washington who have the power to effectively boost employment right now are the sacks of s**t in congress who (it seems) would rather see O'Bummer go down in flames than do anything to boost employment... and therein lies the problem. As such I expect Bernanke's message to include a stern warning to congress to get off their a$$es.
As for MBS (Mostgage Backed Securities) purchases, that will not help employment. They (The Fed) may decide to expand their balance sheet through some small MBS purchases just to appear that they are doing something, but like I said in my response to X, it's pointless. Only Congress can fix this now. Any mention by Bernanke regarding the expansion of the Fed's balance sheet is purely a way of trying to instill confidence... a bluff if you will. He may be called on his bluff and this is the only way I see it happening, albeit in a small amount.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,166
  • Jun 3, 2012 8:41am Jun 3, 2012 8:41am
London bank holiday. I would take couple days off.
  • #34,167
  • Jun 3, 2012 8:58am Jun 3, 2012 8:58am
Hey! A lot work this weekend here...

Hi DOC! I have some ansiety attacks, what can I do instead of kill myself? You know what I mean
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,168
  • Jun 3, 2012 9:04am Jun 3, 2012 9:04am
Quoting Luis Carlos
Hey! A lot work this weekend here...

Hi DOC! I have some ansiety attacks, what can I do instead of kill myself? You know what I mean
Doctors only prescribe narcotics for anxiety because that is what they are trained to do (No offence Doc )

If you're okay with that, then go ahead. If you're not okay will polluting your body with man made chemicals, follow this link for more natural ways of dealing with anxiety --> http://altmedicine.about.com/cs/cond.../a/Anxiety.htm
Those who say it cannot be done should not interrupt those who are doing it
  • #34,169
  • Jun 3, 2012 9:06am Jun 3, 2012 9:06am
Quoting PipTrapper
Doctors only prescribe narcotics for anxiety because that is what they are trained to do (No offence Doc )

If you're okay with that, then go ahead. If you're not okay will polluting your body with man made chemicals, follow this link for more natural ways of dealing with anxiety --> http://altmedicine.about.com/cs/cond.../a/Anxiety.htm
Thank you man, I was taking 2 pills, now just 1...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,170
  • Jun 3, 2012 9:08am Jun 3, 2012 9:08am
Quoting pkimnyc
London bank holiday. I would take couple days off.
Probably a good idea, but not for those traders who have open positions
Those who say it cannot be done should not interrupt those who are doing it
  • #34,171
  • Jun 3, 2012 9:19am Jun 3, 2012 9:19am
Quoting PipTrapper
Doctors only prescribe narcotics for anxiety because that is what they are trained to do (No offence Doc )

If you're okay with that, then go ahead. If you're not okay will polluting your body with man made chemicals, follow this link for more natural ways of dealing with anxiety --> http://altmedicine.about.com/cs/cond.../a/Anxiety.htm
What?!?! No picture? I guess the graphic artist doesn't work the weekends!
I observe your reality but live my own.
  • #34,172
  • Edited 9:47am Jun 3, 2012 9:30am | Edited 9:47am
Quoting Luis Carlos
Hey! A lot work this weekend here...

Hi DOC! I have some ansiety attacks, what can I do instead of kill myself? You know what I mean
. kill the trades instead. the other thing is and the best way is make love to ur wife/partner/friend
Allah has permitted trade and has forbidden interest [koran]
  • #34,173
  • Jun 3, 2012 9:33am Jun 3, 2012 9:33am
Ok Ok, EW time!

That friday low finish a cycle, it could be the entire cycle from 1.328 or just a cycle 2. If we finish the enture cycle the bounce should break the trend line to take 1.262 or more. If this finished the cycle 2 only. I think the market should respect the trend line @1.25 and then down to finish the last third cycle to finish the whole cycle from 1.328 and then maybe we will get some pullback of 500 or 600 pips...
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Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,174
  • Jun 3, 2012 9:38am Jun 3, 2012 9:38am
Quoting PipTrapper
Doctors only prescribe narcotics for anxiety because that is what they are trained to do (No offence Doc )

If you're okay with that, then go ahead. If you're not okay will polluting your body with man made chemicals, follow this link for more natural ways of dealing with anxiety --> http://altmedicine.about.com/cs/cond.../a/Anxiety.htm
thats in extreme cases but most of the times just talking do the trick.one of the best way to reduce anxiety is to pace one self by doing breathing exercises.the way to do is take a deep breath once and hold it and then release it as slowly as possible to let go of the breath while focusing to relax ur muscles. ooh nooo u provoke me into being doctor now i am having anxiety attacks PT go away.
Allah has permitted trade and has forbidden interest [koran]
  • #34,175
  • Jun 3, 2012 9:59am Jun 3, 2012 9:59am
Quoting PipTrapper
Probably a good idea, but not for those traders who have open positions
they never learn, do they? lol
  • #34,176
  • Jun 3, 2012 10:07am Jun 3, 2012 10:07am
Quoting Cgb
What?!?! No picture? I guess the graphic artist doesn't work the weekends!


http://www.slashgear.com/gallery/dat...ine_bottle.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #34,177
  • Jun 3, 2012 10:13am Jun 3, 2012 10:13am
Quoting drzakir123
thats in extreme cases but most of the times just talking do the trick.one of the best way to reduce anxiety is to pace one self by doing breathing exercises.the way to do is take a deep breath once and hold it and then release it as slowly as possible to let go of the breath while focusing to relax ur muscles. ooh nooo u provoke me into being doctor now i am having anxiety attacks PT go away.
Well then obviously you are one of the good docs

Would you agree that the best cure for anxiety is non-competitive sport?
Those who say it cannot be done should not interrupt those who are doing it
  • #34,178
  • Jun 3, 2012 10:16am Jun 3, 2012 10:16am
Quoting pkimnyc
they never learn, do they? lol
Well I suppose you are referring to intraday traders then. In which case yes you are correct.

I have many open positions but I'm a position trader so any swing up to 300 pips if fine for me. I often take partial profits on my positions so that lessens the amount I give back to the market in a surprise reversal.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,179
  • Jun 3, 2012 10:19am Jun 3, 2012 10:19am
Quoting PipTrapper
Well I suppose you are referring to intraday traders then. In which case yes you are correct.

I have many open positions but I'm a position trader so any swing up to 300 pips if fine for me. I often take partial profits on my positions so that lessens the amount I give back to the market in a surprise reversal.
correctomundo.
  • #34,180
  • Jun 3, 2012 10:47am Jun 3, 2012 10:47am
Quoting Luis Carlos
Ok Ok, EW time!

That friday low finish a cycle, it could be the entire cycle from 1.328 or just a cycle 2. If we finish the enture cycle the bounce should break the trend line to take 1.262 or more. If this finished the cycle 2 only. I think the market should respect the trend line @1.25 and then down to finish the last third cycle to finish the whole cycle from 1.328 and then maybe we will get some pullback of 500 or 600 pips...
I like
Those who say it cannot be done should not interrupt those who are doing it
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