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Cable Update (GBPUSD)

  • #25,581
  • Edited 4:07pm Aug 19, 2007 2:39pm | Edited 4:07pm
Quoting pinchapip
Now comes Uncle Ben talking loudly that only a disaster will make them cut rates, only to turn on around and start cutting inter-bank rates to a lower level and become as bearish as they could about the FED rates. I don't know what it signalizes to you guys, but to it me sounds like " Ok guys...no panic..all is good...but.....lets call FEMA"

For me...and maybe just for me....the DISASTER was just confirmed
FEMA wont respond until 10 trading days after the disater and once all the black traders have drowned. They are just too busy trying on new Armani suits. And will then claim they had no idea that there ever was a disaster.
Dont you remember, FEMA does not watch the news or the weather.
Fuc*ing Emergancy My Ass
Just Trade It
  • #25,582
  • Aug 19, 2007 3:02pm Aug 19, 2007 3:02pm
LOL....Big wave !!!!!

Nice to start the week with some good humor !!!!!!!!!

YEAHHHH...lets all go to DUKASCOPY !!!!!

The banner now is :

Trade at DUCASKOPY or you can get DUKASCOPIED !!!! BIG TIME
For he that would be deceived, let him.
  • #25,583
  • Aug 19, 2007 4:17pm Aug 19, 2007 4:17pm
Poor data slate this week until Friday. We're in the hands of the gossips, freak outs, bold calls, so forth...

I'm willing to place 2 maybe 3 trades early this week and see where it takes me, rather than go on racing with the market...

Good luck everybody... Hopefully Mr. Jones getting back on his feet this week
  • #25,584
  • Aug 19, 2007 4:34pm Aug 19, 2007 4:34pm
Quoting cesarnc
Poor data slate this week until Friday. We're in the hands of the gossips, freak outs, bold calls, so forth...

I'm willing to place 2 maybe 3 trades early this week and see where it takes me, rather than go on racing with the market...

Good luck everybody... Hopefully Mr. Jones getting back on his feet this week
After spending a weekend having a garage sale (why didn't anyone warn me it would be hell!?!), I'm willing to not trade at all this week!
Although... trading gossips and freak outs can be rather fun - anyone wants to start a rumor?
Cable is my sugardaddy
  • #25,585
  • Aug 19, 2007 4:38pm Aug 19, 2007 4:38pm
Quoting bohogirl
After spending a weekend having a garage sale (why didn't anyone warn me it would be hell!?!), I'm willing to not trade at all this week!
Although... trading gossips and freak outs can be rather fun - anyone wants to start a rumor?
There's a supermarket of rumours on the wires already. From Fed's bias from now to Fukui on Japan's rates. Bloomberg and CNBC.

Garage sales and no trade this week? Oh no... put the fresh money on the run!!!
  • #25,586
  • Aug 19, 2007 4:48pm Aug 19, 2007 4:48pm
Cramer saying to start buying, rate cut does matter...

Good watch...

http://www.cnbc.com/id/17306034
  • #25,587
  • Aug 19, 2007 5:45pm Aug 19, 2007 5:45pm
Hi everyone. Back to work...

D.J up 233 on Friday, that may help the carry trade in the next session.
I am buying at 9790 TP at 9825
  • #25,588
  • Edited 6:09pm Aug 19, 2007 5:48pm | Edited 6:09pm
Quoting pinchapip
Ok Guys here we go...my thoughts....


Long term fundamentals are against the dollar, Economy, Bush, interest rate, deficit....etc, it's all pounding against the dollar.

BUT !!!!!

Don't forget the sub-prime wild card. Making people reprice risk ALL OVER THE WORLD not just here. Everybody was, and still are, talking about how the sub-prime will kill the dollar. And so far we've seen quite the opposite.

Just analyze what happened at Bernanke's last speech. Surprisingly hawkish !!! The market spiked down (which is normal) then BOOM - market up (which is not normal). Now I don't know about you, but what went through my mind was..."huh...dude, if they are hawkish maybe things are not as bad as it seems !!!!!"

Now comes Uncle Ben talking loudly that only a disaster will make them cut rates, only to turn on around and start cutting inter-bank rates to a lower level and become as bearish as they could about the FED rates. I don't know what it signalizes to you guys, but to it me sounds like " Ok guys...no panic..all is good...but.....lets call FEMA"

For me...and maybe just for me....the DISASTER was just confirmed

The sub-prime ghost is FAR from busted. And it's haunting foreign banks a lot more than American banks. All the world was cashing in on the American real estate boom.

I could be wrong but I find it hard to believe that people will just forget about everything and jump big time on the back of the carries again. Or that the fear is gone and people will just go ahead and take huge risks again. Just look at the cable daily chart....when the FED announced the rate cut, cable spiked up...hit a brick wall (still inside pivot point) and started down again.

At the end of the day I think people still realize that if all hell breaks loose, like it or not, America will be the last to fall !!! China will go first...Europe second...then the countries in development...then Japan....then America.

Strictly ,orthodoxly, fundamentally speaking, the USA has the dough and the big guns. Try and beat it !!!!!
That is a good article pinchapip!
  • #25,589
  • Aug 19, 2007 7:04pm Aug 19, 2007 7:04pm
Quoting Big Wave Rider
20 pip spread on GJ friday afternoon
Only 10 here...

How do everybody around here chooses a broker? Random? Eyes closed?
  • #25,590
  • Aug 19, 2007 7:07pm Aug 19, 2007 7:07pm
IMM commitment of traders report shows net JPY short non-commercial positions vs USD fell to 21,889 contracts in week to Aug. 14, lowest level since July 2006, vs 34,493 contracts in week earlier. Concerns over subprime mortgage market related turmoil, credit market risks heightened risk-aversion, causing unwinding of JPY-carry trade positions.
  • #25,591
  • Aug 19, 2007 7:12pm Aug 19, 2007 7:12pm
Nikkei 2%+ at open. That's good news...

Question is whether or not it will sustain gains throughout the session. I'm not paying a sleeping night to check this out...

Back by London.
  • #25,592
  • Aug 19, 2007 7:38pm Aug 19, 2007 7:38pm
Dow futures opened tonight down -38 went 15 points lower but now is only down -18.

Big overnight/pre-market open moves generally wait for 830am est on news release days but usually no move of any substance happens before 300am est.
  • #25,593
  • Aug 19, 2007 8:21pm Aug 19, 2007 8:21pm
Ready for the rollacoaster ride this week everyone. I think this will test everyones skill level and tolerance for the market. I think we will see the $ weaken for the N.Y. open and at close see the $ rally.

Can't wait for this week to start.

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  • #25,594
  • Aug 19, 2007 8:53pm Aug 19, 2007 8:53pm
Quoting Alabama
Ready for the rollacoaster ride this week everyone. I think this will test everyones skill level and tolerance for the market.
I agree... But I decided to pick 3 trades, place them at key prices and trailing stops and will watch only. If market puts one direction only I win big or lose little. If starts putting 200 pips and 200 pips down, I'm outta here... Not going to trade the same week again. Exhausting as hell
  • #25,595
  • Aug 19, 2007 10:12pm Aug 19, 2007 10:12pm
Quoting cesarnc
I agree... But I decided to pick 3 trades, place them at key prices and trailing stops and will watch only. If market puts one direction only I win big or lose little. If starts putting 200 pips and 200 pips down, I'm outta here... Not going to trade the same week again. Exhausting as hell
there is a bearish divergence in every 4h chart
  • #25,596
  • Aug 19, 2007 10:28pm Aug 19, 2007 10:28pm
If this breaks $2 again will we see it come back or will it stay up there for the rest of the year. would like to hear everyones thoughts.

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  • #25,597
  • Aug 19, 2007 10:34pm Aug 19, 2007 10:34pm
Quoting benssol
there is a bearish divergence in every 4h chart??
Based on what indicator or pattern ?? Because although I don't use them I put up a MACD/RSI/Stochastic on cable and I don't see it.

How about a chart.
  • #25,598
  • Aug 19, 2007 10:37pm Aug 19, 2007 10:37pm
Quoting Alabama
If this breaks $2 again will we see it come back or will it stay up there for the rest of the year. would like to hear everyones thoughts.

Attachment
I only look at the rest of the day. Oh ok maybe the next week or two and therefore think there is more lows to come. Beyond that someone else will have to guess.
  • #25,599
  • Aug 19, 2007 10:47pm Aug 19, 2007 10:47pm
Quoting SunTrader
Based on what indicator or pattern ?? Because although I don't use them I put up a MACD/RSI/Stochastic on cable and I don't see it.

How about a chart.
look at the MACD Histo or OsMA or CCI
I will capture a chart now
  • #25,600
  • Aug 19, 2007 10:53pm Aug 19, 2007 10:53pm
Hidden bearish divergence in GU, EU and all the yen pairs
you can see it on RSI also!!

may be there is little down move
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