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Cable Update (GBPUSD)

  • #24,921
  • Aug 16, 2007 4:53am Aug 16, 2007 4:53am
just stick to numbers...
its just money
  • #24,922
  • Aug 16, 2007 5:01am Aug 16, 2007 5:01am
cesarnc
Are you still long on cable? :-)
  • #24,923
  • Aug 16, 2007 5:01am Aug 16, 2007 5:01am
Freaking Yen just 40 pips above the bottom during the Chinese crisis... By 115.20, we knew what it was all about and market recovered.

So far, we still have no idea "how bad it is out there".
  • #24,924
  • Aug 16, 2007 5:03am Aug 16, 2007 5:03am
Quoting doman
cesarnc
Are you still long on cable? :-)
yes sir... Awaiting Uncle Bernie come to my rescue at 9:30EST, thank you very much...
  • #24,925
  • Aug 16, 2007 5:05am Aug 16, 2007 5:05am
Quoting cesarnc
Morning all....

And bad news keep coming...

Down for the Count (Update 4)

" Aug. 16 (Bloomberg) -- Australia's Rams Home Loans Group Ltd. failed to refinance A$6.17 billion ($5 billion) of short-term U.S. loans, forcing the lender to seek emergency funding."

I'm long 9857 at the strong retail sales, SL 9800. Not confident, not comfortable, but piggybacked by strong fundi
uk retail sales were only month on month data yes ?

nothing to do but shop when it rains every day

and it doesn't mean unit price inflation is up (might be down causing extra sales - pile it high and sell it cheap ) so no need for interest hike...

still have one viewer on my UK house - 4 months now...I think he was a burglar casing the joint... gbp will not see 2.06 until my house sells..I will let you know.
  • #24,926
  • Aug 16, 2007 5:07am Aug 16, 2007 5:07am
Quoting cesarnc
So far, we still have no idea "how bad it is out there".

It's BAD. Really, Really BAD. When banks cant get credit any more than its REALLY REALLY BAD. Which is really good for my shorts.
The world is coming to an end and I am going to make a ton of money on it.
Just Trade It
  • #24,927
  • Aug 16, 2007 5:11am Aug 16, 2007 5:11am
Quoting Big Wave Rider
It's BAD. Really, Really BAD. When banks cant get credit any more than its REALLY REALLY BAD. Which is really good for my shorts.
The world is coming to an end and I am going to make a ton of money on it.
Cīmon, B. "banks not getting credit" is not clear indicator.

This is bad because FED's officers and Headge Funds' CEOs are saying loud and clear that "it's not that bad at all. We are just finding the bottom"



P.S. European market down the drain now... -2.6...
  • #24,928
  • Aug 16, 2007 5:11am Aug 16, 2007 5:11am
Quoting Big Wave Rider
It's BAD. Really, Really BAD. When banks cant get credit any more than its REALLY REALLY BAD. Which is really good for my shorts.
The world is coming to an end and I am going to make a ton of money on it.
Your money will be worthless then...
.
  • #24,929
  • Aug 16, 2007 5:13am Aug 16, 2007 5:13am
Quoting bullrock
Your money will be worthless then...
I suggest invest your pips in real estate that has been ceised because of subprime mortgages... or gold, or land where you can grow food...
.
  • #24,930
  • Aug 16, 2007 5:14am Aug 16, 2007 5:14am
Quoting cesarnc
Cīmon, B. "banks not getting credit" is not clear indicator.

This is bad because FED's officers and Headge Funds' CEOs are saying loud and clear that "it's not that bad at all. We are just finding the bottom"



P.S. European market down the drain now... -2.6...
And BTW, the Brazilian stock market tumbled to 3.5% yesterday when the President showed up saying "This crisis in USA not gonna get us"
  • #24,931
  • Aug 16, 2007 5:14am Aug 16, 2007 5:14am
Tank EURO...tank !!!!!!!!!!!!!!
For he that would be deceived, let him.
  • #24,932
  • Aug 16, 2007 5:16am Aug 16, 2007 5:16am
This week has been absolutly GREAT. While everbody was waiting for a good place to go long I was letting my shorts ride the waves up 700 pips last 12 hours. Plus David Beckham scored his first goal for Galaxy on a beautiful free kick.

Inserted Video
Just Trade It
  • #24,933
  • Aug 16, 2007 5:22am Aug 16, 2007 5:22am
From the news :

Despite the rise in retail sales, there was evidence of widespread discounting, suggesting that it was price cuts and not a steadfast willingness to spend which drew shoppers.

"The headline figures are obviously stronger than market expectations, but it's the falling prices which have led consumers to go out shopping and the question is whether this momentum can be maintained," said Jeavon Lolay at Lloyds TSB.

"Conditions must be tough for retailers to cause such price cuts," he said, adding that people are mainly looking for bargains.

is the number good? i dont think so... think more complex guys.
  • #24,934
  • Aug 16, 2007 5:23am Aug 16, 2007 5:23am
Lower, tumbles, fell, drop, erode, unwind, mining, plunged... LOL

Aug. 16 (Bloomberg) -- Stocks in Europe and Asia tumbled and U.S. index futures dropped as concern deepened a global credit crunch will sap earnings and erode economic growth. Bonds gained worldwide and the yen rallied against the dollar.
Deutsche Bank AG, Germany's largest bank, and BNP Paribas SA of France paced declines in Europe. BHP Billiton Ltd. and Rio Tinto Group led mining shares lower as metals prices fell. Rams Home Loans Group Ltd. plunged in Australia after saying it failed to refinance debt, while Macquarie Bank Ltd. led a drop in Asian financial stocks.
  • #24,935
  • Aug 16, 2007 5:24am Aug 16, 2007 5:24am
Quoting Moe
GBPUSD

GBPUSD is in down trend. The fall from 2.0652 extended to as low as 1.9834, and further fall towards 1.9700 area is still possible in a couple of days. Near term resistance is at 1.9960, as long as this resistance holds, down trend will continue.

On what timeframe are you speaking of this down trend. certainly not dailys and up. Absolutes mean nothing
Man who scratches ass should not bite fingernails
  • #24,936
  • Aug 16, 2007 5:26am Aug 16, 2007 5:26am
Journalists...
.
  • #24,937
  • Aug 16, 2007 5:28am Aug 16, 2007 5:28am
Comments on retail sales:


For retail sales as a whole the implied deflator came in at -1.1% in July, a sign that shops across the board had to reduce prices heavily to keep the shoppers coming in.

That's also consistent with the sharp fall in consumer price inflation in July published earlier this week, which dropped to an annual rate of 1.9% from 2.4% the month before. That in turn has led some commentators to argue the Bank of England may have reached the peak in its interest rate-hiking cycle, with bank rate now set to stay on hold at 5.75% until November at least.

David Page, U.K. economist at Investec, said the retail sales figures were "surprisingly perky," but said this was more a sign that consumers are responding to aggressive price discounting rather than that underlying sales were strong.

"We are encouraged by the disinflation signaled from the high street, seeing it as further evidence that rates need not rise further," Page said.
  • #24,938
  • Aug 16, 2007 5:30am Aug 16, 2007 5:30am
is anyone else seeing a 1.9700 move?
Fear is the mind killer.
  • #24,939
  • Aug 16, 2007 5:31am Aug 16, 2007 5:31am
Quoting Big Wave Rider
This week has been absolutly GREAT. While everbody was waiting for a good place to go long I was letting my shorts ride the waves up 700 pips last 12 hours. Plus David Beckham scored his first goal for Galaxy on a beautiful free kick.

http://www.youtube.com/watch?v=pr_qwkmWukI

Thanks for the link....
  • #24,940
  • Aug 16, 2007 5:31am Aug 16, 2007 5:31am
Room downwards for the JU .... Well ... hmmm maybe 11500 pips
.
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