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Cable Update (GBPUSD)

  • #30,561
  • Sep 14, 2007 5:23am Sep 14, 2007 5:23am
I'm not entering my long here yet, next stop for cable is 0033-0056
Trade what you see, not what you think.
  • #30,562
  • Sep 14, 2007 5:25am Sep 14, 2007 5:25am
Huau, this is incredible...

Euro is not droping like a rock. Uj is steady and GU making that.

The weekly Eur/Gbp TL was sliced like butter. I don't get it.

1 of 2

Or this was SL hunters or indeed we are watching in a historical detaching of GU and EU considering the different rates prospects.

When i went long on EU, i waited days with nothing. Now i change to GU and this pair resolves to go independent from everything in the world.

And the better part, the market don't even have the normal instint to buy a good conservative trend line and reject later new highs.

I just don't understand how can ppl sell this pair so blindly.
  • #30,563
  • Sep 14, 2007 5:34am Sep 14, 2007 5:34am
10:26 NEWS: Paragon Has Not and Does Not Need BoE Emergency Funding (Reuters) The Paragon Group is the UK"s third largest buy-to-let lender whose shares have fallen over 20% today.
  • #30,564
  • Sep 14, 2007 5:37am Sep 14, 2007 5:37am
Quoting karmostaji
I'm not entering my long here yet, next stop for cable is 0033-0056
382 Fib around 2.0090 of the entire up move, doesn't matter?

Hmm, i guess not...

September 14th, the day when GU went out of orbit from the planet earth and is floating in the outer space.


Is it possible that the marker is starting to price in a cut?






PS: Pino2 you are right, trends are not our friends...

I'm buying a weekly trend from the deepest that i can and i lost. Really fair lol.
  • #30,565
  • Sep 14, 2007 5:38am Sep 14, 2007 5:38am
Quote
10:26 NEWS: Paragon Has Not and Does Not Need BoE Emergency Funding (Reuters) The Paragon Group is the UK"s third largest buy-to-let lender whose shares have fallen over 20% today.

Now is the bad NR news affecting all other lenders too ?

Indian market was doing well and suddenly dropped with these news. It closed half an hr back, lets see what monday brings in for us.
Hello World!
  • #30,566
  • Sep 14, 2007 5:40am Sep 14, 2007 5:40am
Cable just touch S1 so i assume it will bounce and go to pivot
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #30,567
  • Sep 14, 2007 5:43am Sep 14, 2007 5:43am
Quoting deboooo2005
10:26 NEWS: Paragon Has Not and Does Not Need BoE Emergency Funding (Reuters) The Paragon Group is the UK"s third largest buy-to-let lender whose shares have fallen over 20% today.
The bad thing is this case is that the market usually focus on the word "emergency" and flies to safety before understanding the whole text

What is that source, btw?
  • #30,568
  • Sep 14, 2007 5:44am Sep 14, 2007 5:44am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
IMO
things are not quite as bad as they seem, unlike some other mortgage lenders Northern rock didn't raise there rates, so are a little behind on there payments, unlike say halifax or Abbey how have put the rise in place.

BOE have lent NR the funds to cover there mortgage cost until there custmoers have had there one months notice of rate rise. and then all will be back to normal

NR is worth 113 billion GBP and only has 24 b in the problem mortgage area. unfortunatly the shares are dropping because people know that the final profit report will be bad and they won't get the big payout like last year - time to move on. Note NR is still in profit as like all the other banks that are complaining, they just don't like not make more profit each year.

Banks lend to Banks and last month when everyone started pulling there investments the banks at the top of the leader board told the other banks there rates are going up - were not losing money you are sort it.
  • #30,569
  • Sep 14, 2007 5:46am Sep 14, 2007 5:46am
Quoting Kiyosaki JR
Cable just touch S1 so i assume it will bounce and go to pivot
The 38% fibo of this last bullrun is at 0092. 50% at 0007, and this one would be the price + fib level of my dreams to go long...

But a strong bounce off the 38% with volume and other currencies also going up, migh work as well.

And unfortunately, possibly not for today
  • #30,570
  • Sep 14, 2007 5:46am Sep 14, 2007 5:46am
well rightmove house price index -2.6% well thats no good news for pound.

If lenders hike the rates further and house prices remain in the negative , ouch there will be big slowdown in the economy since so many of us here buy thing against the value of the house.
  • #30,571
  • Sep 14, 2007 5:48am Sep 14, 2007 5:48am
Quoting MPP
IMO
things are not quite as bad as they seem, unlike some other mortgage lenders Northern rock didn't raise there rates, so are a little behind on there payments, unlike say halifax or Abbey how have put the rise in place.

BOE have lent NR the funds to cover there mortgage cost until there custmoers have had there one months notice of rate rise. and then all will be back to normal

NR is worth 113 billion GBP and only has 24 b in the problem mortgage area. unfortunatly the shares are dropping because people know that the final profit report will be bad and they won't get the big payout like last year - time to move on. Note NR is still in profit as like all the other banks that are complaining, they just don't like not make more profit each year.

Banks lend to Banks and last month when everyone started pulling there investments the banks at the top of the leader board told the other banks there rates are going up - were not losing money you are sort it.
hmmm a week ago or so i've read an article in the financial section of times saying that nothern rock was pricing consumers out of the market by hiking rates up to 7% :s
  • #30,572
  • Sep 14, 2007 5:54am Sep 14, 2007 5:54am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting lexazver
hmmm a week ago or so i've read an article in the financial section of times saying that nothern rock was pricing consumers out of the market by hiking rates up to 7% :s

A month to late and most of that was for new clients, abbey put my mortgage up every month for the last 4. i think that's were the differnce is between some of the banks and why some suffer and some don't.

Hate to be the pleb who said no boss the rates are fine.LOL
  • #30,573
  • Sep 14, 2007 5:54am Sep 14, 2007 5:54am
Jeez my shorts on footsie and Dow are yabberdaberdoooooooooo

thats before the DOW gets going

Dow usually treats a total financial meltdown in europe like someone dropped litter in a park in Omaha..

but this might just get their attention...

but it might not -
  • #30,574
  • Sep 14, 2007 6:03am Sep 14, 2007 6:03am
BOE biggest bail out in 30 years.....

Northern Rock is a BIG fish, not small shmuck...origins date back to the 1850's...

pressure now against a hike in the UK....

etc...etc

Well...I guess we were the epicenter, Europe is now starting to feel the aftershocks. Companies like Northern Rock cashed heavily on the American real estate boom. Their AAA has plenty of FFF sub-prime toxic waste. And this may be just the tip of the iceberg.

It puts a smile on my bear face
For he that would be deceived, let him.
  • #30,575
  • Sep 14, 2007 6:06am Sep 14, 2007 6:06am
Quoting allserene
Jeez my shorts on footsie and Dow are yabberdaberdoooooooooo

thats before the DOW gets going

Dow usually treats a total financial meltdown in europe like someone dropped litter in a park in Omaha..

but this might just get their attention...

but it might not -
Dow futures sinking and retail sales coming. If comes bad, the ghost of "consumer spending going down" will kick in and Dow will disappear to the downside... And the word "recession" will pop in again.

But I ain't got a clue on how the dollar is going to react to that news.
  • #30,576
  • Sep 14, 2007 6:23am Sep 14, 2007 6:23am
go dollar go dollar ))
  • #30,577
  • Sep 14, 2007 6:23am Sep 14, 2007 6:23am
People,

Now please don't say the NR bad OR blah blah news brought cable down. plzzzzz do not confuse FX with news.

I urge !!!
Hello World!
  • #30,578
  • Sep 14, 2007 6:24am Sep 14, 2007 6:24am
Quoting cesarnc
The 38% fibo of this last bullrun is at 0092. 50% at 0007, and this one would be the price + fib level of my dreams to go long...

But a strong bounce off the 38% with volume and other currencies also going up, migh work as well.

And unfortunately, possibly not for today
38% fib touched, not (YET) cracked.... Eyes wide open here... I will go long this level if coming from below eventually, God knows when ...
  • #30,579
  • Sep 14, 2007 6:26am Sep 14, 2007 6:26am
Quoting ClockTrader
People,

Now please don't say the NR bad OR blah blah news brought cable down. plzzzzz do not confuse FX with news.

I urge !!!
LOL.....

So cable is 350 pips off the highs due to what?
  • #30,580
  • Sep 14, 2007 6:30am Sep 14, 2007 6:30am
Quoting pinchapip
Their AAA has plenty of FFF sub-prime toxic waste. And this may be just the tip of the iceberg.

It puts a smile on my bear face

I don't care where currencies go from here, but you have to admit that we will have a hard time shorting throught out mega multi month support barriers.

The shorts will be in scalp mode most of the times and with the help of bad news from the real economy.

I don't know, i just find it strange to digest this carries reversal.

Back in April after the China drop, i made a totally insane ammount of profit out of GJ in the way up.

I remember it so well like a dream, staying up late throught out the Asian session, every single day, sometimes buying dips with a smile in my face.

And now, i'm giving back all of my profits, because we are in front of a multi YEAR reversal that is impossible to antecipate since the drops are completly random throught out the days.


I must say, damn it lol.
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