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Cable Update (GBPUSD)

  • #30,721
  • Edited Sep 16, 2007 12:15am Sep 15, 2007 10:32pm | Edited Sep 16, 2007 12:15am
Rush on Northern Rock continues

http://newsimg.bbc.co.uk/media/image...ton203.jpk.jpg Customers have been withdrawing money despite appeals for calm




The rush of customers taking money out of Northern Rock has continued for a second day, amid concerns over its emergency Bank of England loan.








This was posted on Saturday..........Now this isn't good for the pound leading up to the London open.......

Cesarnc........the drama continues.....

For those who can get the show "60 Minutes" on Sunday night...Greenspan will be speaking.....
  • #30,722
  • Sep 16, 2007 4:05am Sep 16, 2007 4:05am
Quoting Turtle
Rush on Northern Rock continues

http://newsimg.bbc.co.uk/media/image...ton203.jpk.jpg Customers have been withdrawing money despite appeals for calm




The rush of customers taking money out of Northern Rock has continued for a second day, amid concerns over its emergency Bank of England loan.








This was posted on Saturday..........Now this isn't good for the pound leading up to the London open.......

Cesarnc........the drama continues.....

For those who can get the show "60 Minutes" on Sunday night...Greenspan will be speaking.....


Looks like a picture from 1929 only with color and different clothes, and different buildings and cell phones, .......You get what I'm trying to say here

1929? long lines of people trying to get there money out of banks?.......ring a bell?
Just Trade It
  • #30,723
  • Sep 16, 2007 5:37am Sep 16, 2007 5:37am
Quoting MPP
I thinking on Wednesday i might by me a few Northern rock shares.
Already talks by some company about a take over bid, they tried before but Couldn't afford it.

I think NR chairman being paid very nicly for bringing price down to affordable level for take over. someone will always make money out of bad news

we wait and see

yep this is exactly what i was planning to do want to see how bad this panic gets first and decide by mid/end of the week.

Edit: just to add, Prudential rose when some guy was buying shares when they fell alot and he kept aying :''thats a bargain buy more'', in the end shares recovered and they made a fortune. Don't remember what year it was but still can this be a similar case?
  • #30,724
  • Sep 16, 2007 5:47am Sep 16, 2007 5:47am
omg just been reading some comments on bbc and i can't believe some ppl.

A 32-year-old arts professional in the queue said although his own savings amounted to less than £2,000 - and would be covered by the financial services compensation scheme - he was still planning to take his money out.

WHATS THE POINT THEN?? no seriously to queue for god knows how long to get the money which he/she will get back anyway in case of insolvency and make matters worse!

I think money and banking would be very usefull subject in schools to stop this kind of mentality.

This is my favourite though:

"I think if everyone else is here, we should be and I think it is sensible," her daughter said.

No comment.

So come monday shares probably will fall even further and then its time to buy
  • #30,725
  • Sep 16, 2007 5:52am Sep 16, 2007 5:52am
I am Long on Cable and I have voted cable will be above 2.0000 on 1st January 2008.
  • #30,726
  • Sep 16, 2007 5:54am Sep 16, 2007 5:54am
Quoting lexazver

So come monday shares probably will fall even further and then its time to buy

As they say a crash is just another opportunity to buy at lower prices.
Just Trade It
  • #30,727
  • Sep 16, 2007 5:57am Sep 16, 2007 5:57am
whats up guys i was out of the market till thursday close then my homerun trade came out of the blue, bam my system was all over this one sold at 250 was out at 080. all i can say lets see what happen from here.
If I Go Broke Trying Then I Will die happy.
  • #30,728
  • Sep 16, 2007 7:37am Sep 16, 2007 7:37am
May i know why Northern Rock shares drop? What cause the decline?
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #30,729
  • Sep 16, 2007 8:16am Sep 16, 2007 8:16am
Why was 2005 such a bad year for trading?
  • #30,730
  • Sep 16, 2007 9:23am Sep 16, 2007 9:23am
can we stop with why?..u sound like kids i dont have...why o why?
its just money
  • #30,731
  • Sep 16, 2007 9:49am Sep 16, 2007 9:49am
Quoting Kiyosaki JR
May i know why Northern Rock shares drop? What cause the decline?
Subprime mortgage. Home loan sharks took advantages of customers with poor credits and they had to eat their shits if people keep default on loans left to right.
  • #30,732
  • Sep 16, 2007 11:17am Sep 16, 2007 11:17am
Quoting pacman962
Subprime mortgage. Home loan sharks took advantages of customers with poor credits and they had to eat their shits if people keep default on loans left to right.

well according to the news they are very slightly exposed to the subprime business. The panic was triggered when it was revealed that BoE gave emergency loan of 1.something billion ( think 1.4 but might be wrong) to them, and i think its the word emergency and maybe the way it was presented to the general public over the news that caused a bank run.
But nothern rock wouldn't need to go to them if it wasnt for illiquid money markets, especially for medium term paper.

I just wonder why nothing happened when BoE lent Barclays some billions ...
  • #30,733
  • Sep 16, 2007 11:34am Sep 16, 2007 11:34am
In order for cable to reach 2.0400 this week or week after, it must first break 2.0042 and even below 2.0000, which we might even reach the early 1.99's levels, that's my thoughts, I still have short and long trades running, both are on fire, if after the drop we reached 2.0235, then this is the visa for 400 and above, IMO
  • #30,734
  • Sep 16, 2007 12:11pm Sep 16, 2007 12:11pm
I agree that before it goes above 2.0400 it has to first hit 2.0000 or lower. with that said, what is a good price to go short at? Im thinking 2.0200. Do you guys agree? or do you have another price in mind? thanks,
Jeff
Quoting pino2
In order for cable to reach 2.0400 this week or week after, it must first break 2.0042 and even below 2.0000, which we might even reach the early 1.99's levels, that's my thoughts, I still have short and long trades running, both are on fire, if after the drop we reached 2.0235, then this is the visa for 400 and above, IMO
  • #30,735
  • Sep 16, 2007 12:14pm Sep 16, 2007 12:14pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting lexazver
well according to the news they are very slightly exposed to the subprime business. The panic was triggered when it was revealed that BoE gave emergency loan of 1.something billion ( think 1.4 but might be wrong) to them, and i think its the word emergency and maybe the way it was presented to the general public over the news that caused a bank run.
But nothern rock wouldn't need to go to them if it wasnt for illiquid money markets, especially for medium term paper.

I just wonder why nothing happened when BoE lent Barclays some billions ...

Later on this year we will find out that a member of the board sold his shares last month and then leaked the bad news, after having been paid a million by some company with take over plans.

national Australian bank are apparently in the running for a buy out!!!!!!

few choice words can make you alot of money these days LOL
  • #30,736
  • Sep 16, 2007 2:11pm Sep 16, 2007 2:11pm
Aaaaand some more disturbing news right ahead of a busy week....

http://www.cnbc.com/id/20759739

Nice week everybody
  • #30,737
  • Sep 16, 2007 2:14pm Sep 16, 2007 2:14pm
Quoting pino2
In order for cable to reach 2.0400 this week or week after, it must first break 2.0042 and even below 2.0000, which we might even reach the early 1.99's levels, that's my thoughts, I still have short and long trades running, both are on fire, if after the drop we reached 2.0235, then this is the visa for 400 and above, IMO
I don't know if this will happen, but I would surely love it. My plans are on euro this week due to the expected crazy volatility across the board, while euro has proven to be less volatile and fair to technicals than cable.

On cable only a huge convincent strong bounce off some level would put me back on it... Pin-bar in the DAILY would be nice, actually.
  • #30,738
  • Sep 16, 2007 2:37pm Sep 16, 2007 2:37pm
i wonder what would've happened if they were to raise the rates ( just theoreticaly)
  • #30,739
  • Sep 16, 2007 3:02pm Sep 16, 2007 3:02pm
Up trend is kept. If close below 2.0016 – sell. Target below is 1.9531. If close above 2.0020 – buy. Target above is 2.0514.
http://img69.imageshack.us/img69/9417/gbpw1ji7.th.gif

If close below 2.0019 it will be down trend. Then sell. 1.9966 – stop. The target below are 1.9966, 1.9914, 1.9848. If close above 2.0019, then up trend is going. Then buy at 2.0020 and stop 2.0085. The target above are 2.0085, 2.0142, 2.0191,2.0264. If close below 2.0142 – the flat is possible.
http://img69.imageshack.us/img69/791...ailysa2.th.gif

Down trend is kept. Closed below 2.0071. Now sell and stop at 2.0045. If fix below 2.0045 then sell and stop 2.0020. The target below is 1.9962. If fix above 2.0071, then buy and stop 2.0097. The target above are 2.0129, 2.0180, 2.0263. If fix below 2.0263, then flat is possible.
http://img69.imageshack.us/img69/1251/gbph4fr9.th.gif

Down trend is kept. Target below are 2.0051, 2.0022. at 2.0022 the reverse is possible. Now sell – the 1-st stop is 2.0051, the next is 2.0020. If close below 2.0020, then down trend is going. If close above 2.0020, then flat is possible. The target above are 2.0097, 2.0142, 2.0170,2.0216.
http://img69.imageshack.us/img69/4928/gbph1yo8.th.gif

Daily Analysis from Masterforex-V Trading Academy.
http://www.masterforex-v.su/
  • #30,740
  • Sep 16, 2007 3:05pm Sep 16, 2007 3:05pm
Quoting lexazver
i wonder what would've happened if they were to raise the rates ( just theoreticaly)
It would mean Ben Bernie is smoking something that doesn't come in packs of 20.
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