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Cable Update (GBPUSD)

  • #27,661
  • Aug 29, 2007 4:14pm Aug 29, 2007 4:14pm
Small long rockets loaded.....
  • #27,662
  • Aug 29, 2007 4:24pm Aug 29, 2007 4:24pm
Quoting Turtle
Bernanke sending a letter to Sen. Schumer telling him that the Fed will "act as needed".........

I heard that crap yesterday.....Just go ahead and cut the rate....what's with the long played out drama....you are just wasting time and the longer you wait, the worst it might get.........

Or does he might want the dollar to get stronger by taking his time....
Cesarnc...did you catch the news on this???? That is why the DOW took off after lunch....
  • #27,663
  • Aug 29, 2007 4:31pm Aug 29, 2007 4:31pm
Quoting Turtle
Cesarnc...did you catch the news on this???? That is why the DOW took off after lunch....
I didn't. But I supposed it was after reading your post. I mean, your post came about few minutes after the tomahawk to 13.2K today.... So, 1+1=....

LOL....

CNBC and BLoomberg kind of let me down today. Those kind of stuff used to pop in the "Red Alert". Neither this news nor the Fed injection appeared today... Wierd....

Guess I have to dig through the news more often, instead of trading the headlines only
  • #27,664
  • Aug 29, 2007 4:35pm Aug 29, 2007 4:35pm
Quoting Turtle
Small long rockets loaded.....
And BTW, can you see a "trade" approaching????

http://i2.photobucket.com/albums/y28...nc/croco-1.jpg
  • #27,665
  • Aug 29, 2007 4:36pm Aug 29, 2007 4:36pm
It is too the point now that I pretty much watch CNBC during the NY session in case any bombs go off...this way I can trade wisely........
  • #27,666
  • Aug 29, 2007 4:37pm Aug 29, 2007 4:37pm
Briefing.com

The Nasdaq, in fact, wiped out its 2.4% pullback from a day earlier while 146 out of 147 S&P industry groups traded higher, underscoring the broad-based nature of today's bounce. Yesterday, only one S&P industry group closed higher.
Today's rally validated Briefing.com's assertion this morning that the selling related to disappointment over the August 7 FOMC minutes was overdone, and frankly, misinterpreted by many market watchers.

They also mentioned "Cranky" Bernacke and his letter to "Grandstander" Sen Schumer (my nicknames in quotes), but I don't think this was main reason for rally. It just comes down to the markets don't know which way they want to go right now. I know thats not much of a reason for a upturn but the media never gets it right why the markets do what they do. Its immaterial anyway. Price rules.
  • #27,667
  • Aug 29, 2007 4:38pm Aug 29, 2007 4:38pm
Quoting cesarnc
And BTW, can you see a "trade" approaching????

http://www.esslefamily.com/Images/06...0Crocodilo.JPG
OH YEA.......even fired a small rocket on the aussie..with a potential to get back to 8300......
  • #27,668
  • Aug 29, 2007 4:39pm Aug 29, 2007 4:39pm
Quoting cesarnc
And BTW, can you see a "trade" approaching????

http://www.esslefamily.com/Images/06...0Crocodilo.JPG
Hey my neighbor's pet got loose again.
  • #27,669
  • Aug 29, 2007 4:42pm Aug 29, 2007 4:42pm
Quoting SunTrader
Hey my neighbor's pet got loose again.
LOL.. had to crack the picture... Looks like this croco has personality issues...

Whatever, I'm riding him anyway
  • #27,670
  • Aug 29, 2007 4:43pm Aug 29, 2007 4:43pm
Quoting SunTrader
Briefing.com

The Nasdaq, in fact, wiped out its 2.4% pullback from a day earlier while 146 out of 147 S&P industry groups traded higher, underscoring the broad-based nature of today's bounce. Yesterday, only one S&P industry group closed higher.
Today's rally validated Briefing.com's assertion this morning that the selling related to disappointment over the August 7 FOMC minutes was overdone, and frankly, misinterpreted by many market watchers.

They also mentioned "Cranky" Bernacke and his letter to "Grandstander" Sen Schumer (my nicknames in quotes), but I don't think this was main reason for rally. It just comes down to the markets don't know which way they want to go right now. I know thats not much of a reason for a upturn but the media never gets it right why the markets do what they do. Its immaterial anyway. Price rules.
Yea, the Bernanke/Schumer wasn't the main reason, but after that came out..Cesarnc's tomahawk was fired....

I think most of the up swing today was a piggyback from Asian/European sessions....
  • #27,671
  • Aug 29, 2007 4:47pm Aug 29, 2007 4:47pm
Quoting SunTrader
Briefing.com

The Nasdaq, in fact, wiped out its 2.4% pullback from a day earlier while 146 out of 147 S&P industry groups traded higher, underscoring the broad-based nature of today's bounce. Yesterday, only one S&P industry group closed higher.
Today's rally validated Briefing.com's assertion this morning that the selling related to disappointment over the August 7 FOMC minutes was overdone, and frankly, misinterpreted by many market watchers.

They also mentioned "Cranky" Bernacke and his letter to "Grandstander" Sen Schumer (my nicknames in quotes), but I don't think this was main reason for rally. It just comes down to the markets don't know which way they want to go right now. I know thats not much of a reason for a upturn but the media never gets it right why the markets do what they do. Its immaterial anyway. Price rules.
Today I saw commentaries that "Oooopps, we overkilled yesterday"... No wonder if they "ooopsss, my bad again" tomorrow...

  • #27,672
  • Aug 29, 2007 4:56pm Aug 29, 2007 4:56pm
Well i guess this line (H4 100 SMA) will tell whether this was short covering or something more...

Some are saying, that yesterday was a "low volume market aberration".

I just hope we don't get sideways until friday... please NO!

http://img211.imageshack.us/img211/9771/ujvt9.jpg


Can anyone spot the difference between the above and this...

http://img211.imageshack.us/img211/8006/uipw0.jpg
  • #27,673
  • Aug 29, 2007 5:04pm Aug 29, 2007 5:04pm
The Asian countries like Japan don't have nothing to gain with a more expensive yen. Will they break this tonight?

They gain... i gain... everybody gains! Everyone happy!
  • #27,674
  • Aug 29, 2007 5:06pm Aug 29, 2007 5:06pm
Quoting Warper
Well i guess this line (H4 100 SMA) will tell whether this was short covering or something more...

Some are saying, that yesterday was a "low volume market aberration".

I just hope we don't get sideways until friday... please NO!

Can anyone spot the difference between the above and this...
I decided not to trade UJ and I'm not doing it for days.

As a matter of fact, every pip UJ trades, GJ trades 2. And every spike dow jones makes, both follow suit. So I check how UJ is performing, but I trade GJ instead. You amplify the move and soon you are thrown to +50 pips.

But to do that, timing plays a critical role. That's why I waited 'til the last second to long GJ after dow bounced off the 50% intraday fib. Total drawdown was -20 and I TP'd 196.

Not often I get this... Most of the time, it is -50, to TP +100. But today was a killer

In time, looks like retracement is kicking in... Time to wrap up... crocodealers not too much in the mood right now... maybe later
  • #27,675
  • Aug 29, 2007 5:09pm Aug 29, 2007 5:09pm
Quoting Warper


Can anyone spot the difference between the above and this...

http://img211.imageshack.us/img211/8006/uipw0.jpg

reversal?
  • #27,676
  • Aug 29, 2007 5:20pm Aug 29, 2007 5:20pm
Quoting cesarnc
I decided not to trade UJ and I'm not doing it for days.
Me neither... i'm just watching for correlation. I think correlation between UJ and the rest is reaching to a scary point that i hope it ends soon, or we will trade one pair really during the next months.

I'm holding a EU long, but the market seems exhausted. I held trades for days before, but this is the first time i'm holding it against a powerful barrier.

You told me before that we shouldn't cut winners without a clear mood change, but you seem to do it.

If you don't mind, can you explain me why did you cut your winners today and why should i do the same on EU. (I will follow my plan anyway, but i'm curious.)

Thanks.
  • #27,677
  • Aug 29, 2007 5:24pm Aug 29, 2007 5:24pm
Quoting cesarnc
And BTW, can you see a "trade" approaching????

http://i2.photobucket.com/albums/y28...nc/croco-1.jpg
  • #27,678
  • Aug 29, 2007 5:25pm Aug 29, 2007 5:25pm


where are the danm bulls....

could this be the start of a bearish day....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #27,679
  • Aug 29, 2007 5:30pm Aug 29, 2007 5:30pm
Quoting Warper

You told me before that we shouldn't cut winners, but you seem to do it.

If you don't mind, can you explain me why did you cut your winners today and why should i do the same on EU. (I will follow my plan anyway, but i'm curious.)

During those highly volatile days, I'm trading overleveraged. I get the London open and trade following some price actions...

As soon as a profit of some 30/40 pips appear, I lock SL at B/E. The principle is "I get it all, or I get nothing". But, when the price stalls, I bank profits to reduce the exposure and wait for the next round. Bounce of 23% fib, for instance is a call to add to longs.

As Dow Jones is calling the shots, I trade the headlines during European session, when the market starts getting into position and then I get the mid-late session when the big money shows up, setting the tone for the rest of the day. Usually 1 or 2 pm EST.

When I judge the profit "obscene" I close 3/4 maybe more and call it a day, leaving the rest for remaining strength. I still have some tiny lots for the joyride, locked at B/E.
  • #27,680
  • Aug 29, 2007 5:33pm Aug 29, 2007 5:33pm
Quoting cesarnc
During those highly volatile days, I'm trading overleveraged.
And don't get me wrong. When I say "overleveraged" I mean

OVERLEVERAGED

You guys would put me in an institution if you see what I do.

But whatta hell... Trading to by the lunch I go sell candy by the traffic light.
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