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Cable Update (GBPUSD)

  • #11,561
  • Apr 27, 2007 8:27am Apr 27, 2007 8:27am
Lets look at that picture again Cesarnc

http://i165.photobucket.com/albums/u...r27-bears2.jpg
  • #11,562
  • Apr 27, 2007 8:31am Apr 27, 2007 8:31am
No.. as lucky as it gets lol. That misterious consumer confidence sure helped the Bear trend line. But hey... i took what i could from today and now im getting my fishing net again, but only if i see a big fish. I hope you dont get caught on it.

That was gamble. A poor confidence should have broken that trend.

I stick to solid trades. But good luck anyway.
  • #11,563
  • Apr 27, 2007 8:31am Apr 27, 2007 8:31am
Quoting cesarnc
Hey i want a lollipop, too
go buy your own.
BAM BAM BOOM! -bravado
  • #11,564
  • Apr 27, 2007 8:31am Apr 27, 2007 8:31am
Quoting el_duende
Lets look at that picture again Cesarnc
Wow... finally showing up... Coz I didn't see any bears calling "Bulls doomsday" here all the way from 9865 to 0040s

A 200 pips day correction (yesterday) was just that. A 200 pips day correction. Not Cable's armageddon like I read here...
  • #11,565
  • Apr 27, 2007 8:36am Apr 27, 2007 8:36am
Elllllllll Duendeeee!!!

Quoting cesarnc
This is all I have to say today..

http://www.funnyhub.com/pictures/img...olonoscopy.jpg

PS: cesar lol.. the "1.4000 in some days" armaggeadon?
  • #11,566
  • Apr 27, 2007 8:40am Apr 27, 2007 8:40am
Quoting jacko
The reason for the sharp drop?

President Bush: Patience with N. Korea is not unlimited regarding its nuclear disarmament commitments

Oh no...Not again !!!

.
Japanese PM Abe: refusal by North Korea to honor its nuclear commitments would require a tougher response - press conf. with Bush

http://www.tradethenews.com/breaking-news.asp

.
  • #11,567
  • Edited 8:56am Apr 27, 2007 8:46am | Edited 8:56am
Quoting jacko
The reason for the sharp drop?

President Bush: Patience with N. Korea is not unlimited regarding its nuclear disarmament commitments

Oh no...Not again !!!

.
i dont think this would be dollar postive news.

i think the real reason is that front-runners are bailing out because the dollar bear market is getting mighty tired.

face it, cable has had a series of beating econ forcasts since breaking $2, and just gets sold into every time.

...and today we have v.bad US data, and yet again cable gets sold into the news release.

i'm not saying cable can't push to new highs, just that the warning signals are getting louder.
  • #11,568
  • Apr 27, 2007 9:05am Apr 27, 2007 9:05am
Quoting indigo
i dont think this would be dollar postive news.

i think the real reason is that front-runners are bailing out because the dollar bear market is getting mighty tired.

face it, cable has had a series of beating econ forcasts since breaking $2, and just gets sold into every time.

...and today we have v.bad US data, and yet again cable gets sold into the news release.

i'm not saying cable can't push to new highs, just that the warning signals are getting louder.
Cable is likely to keep bid tone until next rate hike and definitions of whether it comes 0.25% or 0.5%. In case of 0.25% we have to see if market will start correction or will wait for another likely 0.25% as it is being said in the wires...

Cable has pushed a 900 pips run since 9211 in a very inclined channel (denoting speed) and of course a sharp correction will be on the cards afterwards.

On the USD bearish side, there are several talks that "we've found the bottom", which I still don't know if I buy it or not yet.

So far, no reason for s/t strong reversal either in the GBP-bullish or in the USD-bearish side. Talks of 2.0200 as short term target and an option expiring May 10th 2.0400 also circulating.

I'm not saying it will get to 0400 on Monday. But talks of targets 9900, 2.000, 2.0050 and 2.0105 also circulated while we were hanging in the 97s.

My 2 pips
  • #11,569
  • Apr 27, 2007 9:23am Apr 27, 2007 9:23am
Next wk we'll see 1.98 first before final rally----which may be expected in 2nd wk of May when BoE meets on speculation----the US GDP no. is not so bad if we exclude housing---next wk initially, the forthcoming US data will underpin USD index very short term (what you call 'dead cat bounce')----
Rock on,
Out for the wk with small G/U short w/ TP 1.98---
GL/GT
  • #11,570
  • Apr 27, 2007 9:51am Apr 27, 2007 9:51am
longing cable @ 1.9958.
BAM BAM BOOM! -bravado
  • #11,571
  • Apr 27, 2007 9:51am Apr 27, 2007 9:51am
Quote
'dead cat bounce'

Is that a Bulowski chart pattern you are refering to? Name rings a bell.
  • #11,572
  • Apr 27, 2007 9:54am Apr 27, 2007 9:54am
Quoting ashlee_17
Advertising links are NOT allowed. This site contains Google Ads.
I smiled when I saw that.
Do not focus on making money; focus on protecting what you have.
  • #11,573
  • Apr 27, 2007 12:44pm Apr 27, 2007 12:44pm
so near the end of week, still holding my long........let open and see monday...
I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,574
  • Apr 27, 2007 12:56pm Apr 27, 2007 12:56pm
Quoting notme32
so near the end of week, still holding my long........let open and see monday...
Sorry for you buddy... For the next couple of days it's all about booze. Forget trading
  • #11,575
  • Apr 27, 2007 1:04pm Apr 27, 2007 1:04pm
booze again ?

i am not clear mind now... tho o much dronk.......

thz too reminds........
I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,576
  • Apr 27, 2007 3:54pm Apr 27, 2007 3:54pm
Quoting notme32
booze again ?

i am not clear mind now... tho o much dronk.......

thz too reminds........
My weekend:

Back by Tokyo
Attached Image
  • #11,577
  • Apr 27, 2007 7:01pm Apr 27, 2007 7:01pm
Quoting cesarnc
My weekend:

Back by Tokyo
lies.

here is what cesarnc really do on the weekends.

http://idata.over-blog.com/0/00/84/1...a/capoeira.jpg
BAM BAM BOOM! -bravado
  • #11,578
  • Apr 27, 2007 8:18pm Apr 27, 2007 8:18pm
Quoting cesarnc
My weekend:

Back by Tokyo
Hi cesar,

there will be no tokyo next week. You cannot make reference to something that does not exist...

  • #11,579
  • Apr 28, 2007 2:10am Apr 28, 2007 2:10am
NEW YORK (AP) - The slumping dollar has become a financial life saver for American companies whose overseas operations in many cases are growing faster than their domestic units. It also helps explains why U.S. stocks have zoomed to records even as signs of an economic slowdown have multiplied.

Companies like Caterpillar, McDonald's and General Electric reported first-quarter earnings this week that surprised most Wall Street analysts precisely because of better-than-expected results from Europe, Latin America and Asia.

The dollar fell on Friday to an all-time low against the euro, the currency used in Germany, France and 11 other European nations, and hasn't plunged this far versus the pound since Margaret Thatcher's second year as prime minister. That means profits earned in those nations become supercharged when they are converted to dollar equivalents for financial reporting purposes.

"What these companies are earning outside the U.S. is worth a lot more, it is like getting a free ride on the currency movement," said Octavio Marenzi, chief executive of business consulting group Celent LLC. "For the time being, lots of corporations are looking much better than they'd otherwise look."

Caterpillar Inc. had a tough time during the first-quarter winning orders for its big yellow bulldozers and other construction equipment on U.S. soil. Left tattered by the U.S. housing slump, the Peoria, Ill.-based company said its first-quarter profit slid 3 percent from the year-ago period.

But that was a better result than Wall Street was expecting, in large part because of a sales surge outside the U.S. that pushed overall revenue to $10 billion, 7 percent higher than a year earlier. Chief Executive Jim Owens credited "exceptional growth outside North America," which prompted the Illinois company to boost its 2007 profit and revenue projections.

General Electric Co. Chief Executive Jeffrey Immelt said his strategy of selling power plant and aviation equipment outside the U.S. paid off. Profit rose 2 percent, but the real story was that revenue surged 6 percent to $40.2 billion.

The biggest slice of GE's sales came from overseas, where revenue rose 9 percent to $19.6 billion. Sales in developing markets surged 14 percent to $7 billion.

One U.S. multinational where the dollar's impact has had a potent effect is McDonald's Corp. The Oak Brook, Ill.-based fast-food chain operates in more than 100 countries, and sells burgers in dozens of different currencies.

With sales slowing in the U.S., McDonald's relied more heavily on its European restaurants for growth. McDonald's said sales at restaurants open at least 13 months, a key retail measure known as same-store sales, rose 6.3 percent for the quarter.

Same-store sales were up 4.4 percent in the United States, 8 percent in Europe, and 8.5 percent in the company's Asia-Pacific business. Meanwhile, gains from currency translation accounted for 4 percent of the company's overall revenue, or about $224 million.

Howard Silverblatt, senior index analyst at Standard & Poor's, said global sales might be one reason members of the rating agency's closely watched S&P 500 list are posting better-than-expected results. Because of a slew of profit warnings late last year, S&P forecast that first-quarter profit growth would come in around 3 percent -- and these earnings surprises now has S&P 500 components at a 7 percent growth rate.

"The amount of foreign sales for S&P 500 companies is running at about 48.5 percent," said Howard Silverblatt.

"What we won't get in U.S. growth, we'll get abroad," he said. "That's a significant item, and it's improving and getting better. At some point this year over half the sales will be coming from abroad."

This is exactly the reason why most stock pickers have advised snapping up shares of companies that do a big business outside of the U.S. During periods of a slowing economy, these companies are able to neutralize sluggish U.S. sales with revenue from overseas.

But, while this has benefited blue chips, it still leaves many companies that don't have large international operations in the lurch. And the potential for the dollar to rebound anytime soon appears to be slim, some observers say.

Economic expansion outside the United States is more robust, while interest rates abroad are generally rising. Higher interest rates offer investors more return on their cash holdings.

In addition, investors have grown concerned about comments from central banks abroad, such as China, Russia, and South Korea, about plans to eventually diversify their holdings beyond the dollar -- long the world's sole reserve currency. This would punish the dollar's stature globally.

Bearish investors have low expectations for a dollar recovery, prompting them to look abroad for growth and safety.

"What difference does it make if companies are making more because of currency gains when the dollar overall is losing value," said Peter Schiff, president of Darien, Conn.-based Euro Pacific Capital. "It's a delusion."

His advice: "If you really want to take advantage of the weaker dollar, invest in foreign companies that get 100 percent of their business outside of the United States."
  • #11,580
  • Apr 28, 2007 6:51pm Apr 28, 2007 6:51pm
Thanks for the info.

Quoting goonergonebad
NEW YORK (AP) - The slumping dollar has become a financial life saver for American companies whose overseas operations in many cases are growing faster than their domestic units. It also helps explains why U.S. stocks have zoomed to records even as signs of an economic slowdown have multiplied.

Companies like Caterpillar, McDonald's and General Electric reported first-quarter earnings this week that surprised most Wall Street analysts precisely because of better-than-expected results from Europe, Latin America and Asia.

The dollar fell on Friday to an all-time low against the euro, the currency used in Germany, France and 11 other European nations, and hasn't plunged this far versus the pound since Margaret Thatcher's second year as prime minister. That means profits earned in those nations become supercharged when they are converted to dollar equivalents for financial reporting purposes.

"What these companies are earning outside the U.S. is worth a lot more, it is like getting a free ride on the currency movement," said Octavio Marenzi, chief executive of business consulting group Celent LLC. "For the time being, lots of corporations are looking much better than they'd otherwise look."

Caterpillar Inc. had a tough time during the first-quarter winning orders for its big yellow bulldozers and other construction equipment on U.S. soil. Left tattered by the U.S. housing slump, the Peoria, Ill.-based company said its first-quarter profit slid 3 percent from the year-ago period.

But that was a better result than Wall Street was expecting, in large part because of a sales surge outside the U.S. that pushed overall revenue to $10 billion, 7 percent higher than a year earlier. Chief Executive Jim Owens credited "exceptional growth outside North America," which prompted the Illinois company to boost its 2007 profit and revenue projections.

General Electric Co. Chief Executive Jeffrey Immelt said his strategy of selling power plant and aviation equipment outside the U.S. paid off. Profit rose 2 percent, but the real story was that revenue surged 6 percent to $40.2 billion.

The biggest slice of GE's sales came from overseas, where revenue rose 9 percent to $19.6 billion. Sales in developing markets surged 14 percent to $7 billion.

One U.S. multinational where the dollar's impact has had a potent effect is McDonald's Corp. The Oak Brook, Ill.-based fast-food chain operates in more than 100 countries, and sells burgers in dozens of different currencies.

With sales slowing in the U.S., McDonald's relied more heavily on its European restaurants for growth. McDonald's said sales at restaurants open at least 13 months, a key retail measure known as same-store sales, rose 6.3 percent for the quarter.

Same-store sales were up 4.4 percent in the United States, 8 percent in Europe, and 8.5 percent in the company's Asia-Pacific business. Meanwhile, gains from currency translation accounted for 4 percent of the company's overall revenue, or about $224 million.

Howard Silverblatt, senior index analyst at Standard & Poor's, said global sales might be one reason members of the rating agency's closely watched S&P 500 list are posting better-than-expected results. Because of a slew of profit warnings late last year, S&P forecast that first-quarter profit growth would come in around 3 percent -- and these earnings surprises now has S&P 500 components at a 7 percent growth rate.

"The amount of foreign sales for S&P 500 companies is running at about 48.5 percent," said Howard Silverblatt.

"What we won't get in U.S. growth, we'll get abroad," he said. "That's a significant item, and it's improving and getting better. At some point this year over half the sales will be coming from abroad."

This is exactly the reason why most stock pickers have advised snapping up shares of companies that do a big business outside of the U.S. During periods of a slowing economy, these companies are able to neutralize sluggish U.S. sales with revenue from overseas.

But, while this has benefited blue chips, it still leaves many companies that don't have large international operations in the lurch. And the potential for the dollar to rebound anytime soon appears to be slim, some observers say.

Economic expansion outside the United States is more robust, while interest rates abroad are generally rising. Higher interest rates offer investors more return on their cash holdings.

In addition, investors have grown concerned about comments from central banks abroad, such as China, Russia, and South Korea, about plans to eventually diversify their holdings beyond the dollar -- long the world's sole reserve currency. This would punish the dollar's stature globally.

Bearish investors have low expectations for a dollar recovery, prompting them to look abroad for growth and safety.

"What difference does it make if companies are making more because of currency gains when the dollar overall is losing value," said Peter Schiff, president of Darien, Conn.-based Euro Pacific Capital. "It's a delusion."

His advice: "If you really want to take advantage of the weaker dollar, invest in foreign companies that get 100 percent of their business outside of the United States."



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