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George Soros Selling Dollar/Yen?

  • Post #1
  • Quote
  • First Post: Feb 28, 2006 9:31pm Feb 28, 2006 9:31pm
  •  geniustrader78
  • | Joined Feb 2006 | Status: Member | 4 Posts
This guy is saying Soros is in the market selling dollar/yen.



This is what he says:


There is talk in Asia that the selling that capped dollar/yen yesterday and saved my stop which was placed at 115.55 initially but later moved up to 115.59 was no other than the Man Who Broke The Bank of England himself George Soros. Dealer chatter says Soros was selling dollar/yen at 116.30, 116.40, and 116.50.

Any thoughts?
  • Post #2
  • Quote
  • Feb 28, 2006 9:46pm Feb 28, 2006 9:46pm
  •  merlin
  • Joined Mar 2004 | Status: Magic Man | 3,220 Posts
welcome aboard georgey

i hope he doesnt jinx this trade like he did on his short dollar call last year!

Relax and be happy.
 
 
  • Post #3
  • Quote
  • Mar 1, 2006 7:02pm Mar 1, 2006 7:02pm
  •  narafa
  • Joined Jan 2005 | Status: Keep Learning | 1,180 Posts
I think that we are getting a lot more support for our Yen Bullish outlook Merlin....Don't think that it will blow up in his face either Hope so...


Thanks,

Nader
 
 
  • Post #4
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  • Mar 1, 2006 9:22pm Mar 1, 2006 9:22pm
  •  fdisk
  • | Joined Feb 2005 | Status: Member | 119 Posts
So does that mean he is selling or buying. I mean is he shorting the dollar or shorting the yen?
Fdisk Please I just want a few pips. Is that too much to ask?
 
 
  • Post #5
  • Quote
  • Mar 1, 2006 9:26pm Mar 1, 2006 9:26pm
  •  narafa
  • Joined Jan 2005 | Status: Keep Learning | 1,180 Posts
He is selling the USD/JPY, which means that he is short the USD and long the Yen..


Thanks,

Nader
 
 
  • Post #6
  • Quote
  • Mar 1, 2006 10:01pm Mar 1, 2006 10:01pm
  •  Bemac
  • Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Woahhh. Hold the pony.

First. If George Soros is indeed NOW selling the USD/JPY, one of his employee's heads is on the chopping block for leaking the info.
It is More likely that George Soros HAS BEEN selling the USD/JPY for well over a year and would now like the rest of us to join in and drive it back down to improve his exit/Profits.

A few years ago, when silver futures were at a recent high of ~$5.00, Information was "Leaked" that Warren Buffet was Buying Silver. Silver then rushed to $7.00. After all the dust settled, it was discovered that Buffet had been buying for over a year and subsequently settled his trades in the $6.00 $6.50 range. Now THAT'S what I call a Market Maker.

So there may still be a play here, but I'm thinking Soros now thinks that the USD/JPY has more Upside potential than Down.

BTW. If you want Buffet to trade for you, all you have to do is buy shares in his public company. Last time I checked [couple of years ago] Berkshire Hathaway was trading at $75,000.00/share.

These guys play it VERY close to the Vest.
 
 
  • Post #7
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  • Mar 1, 2006 11:39pm Mar 1, 2006 11:39pm
  •  merlin
  • Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Quoting narafa
Disliked
I think that we are getting a lot more support for our Yen Bullish outlook Merlin....Don't think that it will blow up in his face either Hope so...


Thanks,

Nader
Ignored
glad to hear your still with me on this on nader. we've been been talking about this long yen position for quite a few months now. ive had a fair sized position on and im starting to get fatigued. i almost covered my postition twice! if not for the news from the central bank this week i would have been out already. i feel like the USDJPY is at the edge of a cliff right now, its teatering there with very little support, and it is very high up and there is a long way to the ground. i want to wait for it to fall, but i cant wait around forever! lets see what she does this month, march is important for the yen.
Relax and be happy.
 
 
  • Post #8
  • Quote
  • Mar 2, 2006 7:51am Mar 2, 2006 7:51am
  •  narafa
  • Joined Jan 2005 | Status: Keep Learning | 1,180 Posts
Ya I am still with ya on this one Merlin...My opinion is that it will be a long time bull run for the Yen against the dollar...Don't get fatigue man, this long period of indecision is to shake the market and throw out non-confident people (In my opinion)....Japan is building up piles of US dollars, and they are not going to hold them forever...When the Japanese economy strengthens, I think we will see investment shifts from the US to Japan, and this will give a huge support for the Yen over the long time...Japanese depression is over to me, and so is the yen fall...


Thanks,

Nader
 
 
  • Post #9
  • Quote
  • Mar 2, 2006 12:55pm Mar 2, 2006 12:55pm
  •  abobtrader
  • | Joined Nov 2005 | Status: Member | 353 Posts
I'm not sure about the yen, but I would say that it doesn't follow the fundamentals as obviously as the other currencies in the G7 space. I learned that as the Japanese economy recovers, while it may attract more money from abroad, there is an offsetting factor in that the economic recovery breeds confidence, and reduces homebias, so Japanese funds may flow abroad.

How these effects stack up in the data is not clear to me, but its important to appreciate the many factors at play.
"Always bet on black"
 
 
  • Post #10
  • Quote
  • Mar 6, 2006 10:18am Mar 6, 2006 10:18am
  •  fx-trader777
  • | Joined Aug 2005 | Status: steady and consistent | 977 Posts
What I will say I had long position in USDJPY from 116.80 and liquidated because of this
kiss the trend
 
 
  • Post #11
  • Quote
  • Mar 6, 2006 10:40am Mar 6, 2006 10:40am
  •  merlin
  • Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Quoting narafa
Disliked
...Don't get fatigue man, this long period of indecision is to shake the market and throw out non-confident people...
Ignored
your absolutely right nader. thank you for shaking me out of my moment of weakness!
Relax and be happy.
 
 
  • Post #12
  • Quote
  • Last Post: Mar 6, 2006 1:02pm Mar 6, 2006 1:02pm
  •  narafa
  • Joined Jan 2005 | Status: Keep Learning | 1,180 Posts
Quoting merlin
Disliked
your absolutely right nader. thank you for shaking me out of my moment of weakness!
Ignored
Anytime man


Thanks,

Nader
 
 
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