Cable Update (GBPUSD)

Quoting Bullfx

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Me SHORT too. If US rate unchanged then GU shall drop down to 1900

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Quoting Turtle

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4 days of this stop and go stuff on the cable is making us all a little loopie...

Hope we see some kind of direction soon.

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Quoting cesarnc

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That's a classic....

And people get mad at me when I go harsh about FED

http://www.cartoonstock.com/lowres/hsc3569l.jpg

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Quoting pablorpl

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direction still doing UP...

But I see high risk of reversal.... 200 - 300 pips

So, I'm still short

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Quoting pablorpl

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I've been receiving information from some reliable sources, but it's not confirmed yet, but it seems like NFA will shut down any broker that has less than $5 million in funds. I am not sure of the exact time frame, but it seems like in the next month or two.
The rumor on the street that NFA will raise capital requirement to 9 million by end of this year, but it's still a rumor."

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Quoting Turtle

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Is these funds based on Net Capital requirement????

Good post

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Quoting pablorpl

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hi fellows, I received this message on my email (known source)

"
NFA has been coming down pretty hard on the forex industry lately. They have shut down 4 brokers so far this month, due to fraud and/or lack of funding, and they are just warming up.

As far as I know, and I may be wrong, but the names of the brokers that were shut down in June are the following:
FX Option Inc.
Spot FX Clearing Corporation
Trend Commodities Limited
United Global Markets
You can search them on google to find the website address. Again, if I am wrong about any of these firms, I apologize.

I've been receiving information from some reliable sources, but it's not confirmed yet, but it seems like NFA will shut down any broker that has less than $5 million in funds. I am not sure of the exact time frame, but it seems like in the next month or two. That's not the real problem. The real problem is that I believe some of these bucketshops are not well managed, and when the time comes that they have to go out of business and give all the money back to their clients, they may not have enough. Or even if they do, it's entirely possible that some of their CEOs may run away with the funds offshore. So I suggest that you check on your broker's financial capability by going to this link.
http://www.cftc.gov/files/tm/fcm/tmfcmdata0704.pdf
Don't get me wrong, I do believe that some serious firms that currently don't have enough funds could get enough funds to meet the requirements, but I do think that your safety of funds in some smaller firms could be under risk.

The rumor on the street that NFA will raise capital requirement to 9 million by end of this year, but it's still a rumor. If that happens, I am sure we'll have most small forex brokers go out of business, and we'll probably only have 15 or 20 left, which I think is a good thing.

Anyway, check your broker through the link above, and if you feel you could be at risk, perhaps consider taking your money, before it's too late, and the avalanche starts.

I think this is a very important heads up, and I want to make sure that my subscribers like you are taken cared of before everyone else, so don't post this on any forums, until your own funds are secure..."

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Quoting el_duende

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I tell ya cables been pants lately but another pair gets the crown for most annoying and it is USD/CHF. Ive been long for a week and im still at breakeven.

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Quoting pablorpl

Disliked

hi fellows, I received this message on my email (known source)

"
NFA has been coming down pretty hard on the forex industry lately. They have shut down 4 brokers so far this month, due to fraud and/or lack of funding, and they are just warming up.

As far as I know, and I may be wrong, but the names of the brokers that were shut down in June are the following:
FX Option Inc.
Spot FX Clearing Corporation
Trend Commodities Limited
United Global Markets
You can search them on google to find the website address. Again, if I am wrong about any of these firms, I apologize.

I've been receiving information from some reliable sources, but it's not confirmed yet, but it seems like NFA will shut down any broker that has less than $5 million in funds. I am not sure of the exact time frame, but it seems like in the next month or two. That's not the real problem. The real problem is that I believe some of these bucketshops are not well managed, and when the time comes that they have to go out of business and give all the money back to their clients, they may not have enough. Or even if they do, it's entirely possible that some of their CEOs may run away with the funds offshore. So I suggest that you check on your broker's financial capability by going to this link.
http://www.cftc.gov/files/tm/fcm/tmfcmdata0704.pdf
Don't get me wrong, I do believe that some serious firms that currently don't have enough funds could get enough funds to meet the requirements, but I do think that your safety of funds in some smaller firms could be under risk.

The rumor on the street that NFA will raise capital requirement to 9 million by end of this year, but it's still a rumor. If that happens, I am sure we'll have most small forex brokers go out of business, and we'll probably only have 15 or 20 left, which I think is a good thing.

Anyway, check your broker through the link above, and if you feel you could be at risk, perhaps consider taking your money, before it's too late, and the avalanche starts.

I think this is a very important heads up, and I want to make sure that my subscribers like you are taken cared of before everyone else, so don't post this on any forums, until your own funds are secure..."

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Quoting el_duende

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leaked FOMC statement

Wednesday June 28, 2007FOMC Statement
Source: Federal Reserve Board

Washington, DC - The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

Tree growth slowed in the first part of this year and the adjustment in the tree house sector is ongoing. Nevertheless, the tree seems likely to expand at a moderate pace over coming quarters.

Mrs Miggin’s cat remains somewhat elevated in a tree. Although the cat pressures seem likely to moderate over time, the risk is it may fall to the downside. A high level of resource utilization has the potential to help the cat.

In these circumstances, the Committee's predominant policy concern remains the risk that the cat will fail to survive as expected. Future policy adjustments will depend on the evolution of the outlook for both cat mortality and tree growth, as implied by incoming information.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Cathy E. Minehan; Frederic S. Mishkin; Michael H. Moskow; William Poole; and Kevin M. Warsh

No doubt the real statement will be along those lines or mpore ridiculous!

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