Do Not Yell At Me For Discussing Fundamentals

This sooo makes me want to move to Canada right now

Your take on England sounds worrying and I think you're right about the Eurozone stuff - there's been some backstage upheaval about the EUR thing, but mostly from Sarkozy. Haven't kept up to date on that however.
Last I heard even though we perpetuate the "we are mainly an exporting country" myth and that in turns seems to need "weak" EURUSD, there's been no real clamoring except by the usual politicians trying to play the "we can't compete with car sales valued in JPY at this EURJPY rate" card to get some "little people" nods...not that anything the politicians say matters.

Trichet and the ECB are called upon to truly stay vigilant and keep the real issues in focus and I'm curious as to what the "local" response will be in the future about this whole mess...as you said, more people have dallied in this whole toxic CDO mess than like to admit and one of our major credit financing institutionathingies basically had to step in for a branch of some bank thing or other (lacking both the english words and the details here, read the article a while back) so as not to have it collapse under this whole mortgage mess. A lot of more local banks also put their cash into it...

Same thing as the past few weeks though, no idea how contained or ignored this all can stay as long as the system keeps handing itself rescue paper round and round..

But hey - I'm the chart guy anyhow, I don't know how this all works either way =)

But I don't mind learning

Don't forget the 50% tax rate that you'll be paying to live there.

*unpacks bags again*

*checks internet for alternatives*

Off to Dubai it is then!

Damn, stay away! We got enough of you foreigners here already.

We're in the same boat, just pulling on diffrent oars Fundamentals are really up in the air atm, especially as new skeletons come out of the closet, so the real battle is on the chart lines.

BTW - don't worry about the tax thing in Canada, that's only the top marginal rate. And it has to be balanced off against benefits, which are:

1)better beer (assuming you are in the US)
2)free medical care, so you can get drunk, fall down, crack your skull, and still no worries....
3)good social assistance, so that when you blow your account you can still go out for 1), do 2), and still have no worries....

Also remember that no less than Mark Twain remarked that Cad ladies were the loveliest in the world. Unfortunately that set is getting a little old.

Partial to Molson Brador, when I can get, which isn't often. So my head is safe.

Now WHAT ABOUT THAT testimony?

A bunch of gentlemen making serious faces pretenting to understand a matter they have no idea what is about being commented by 3 gentlemen pretending they have the whole situation figured out.

"Moral Hazard"? MORAL HAZARD? What the hell is that? As Paulson said during the testimony "we don't really know how to define moral hazard"

For some misterious conclusion, dollar went down and fulled my euro longs and that was my week already. Taking any trades for me after this awesome week would be ... a moral hazard

I'm kinda partial to moral hazards myself
BTW, it's almost like you can follow the progress of the hearings on the euro charts, it keeps rising while folks begin to realize there may be trouble in the offing, and then they fall asleep

Just wanted to update - I think it was the IKB I was referring to in my last post.

Also I still rather believe in Elliot Waves causing the rising in EURUSD (they give pretty goshdarn precise entries(20-30 pip stop) if one is so lucky enough to know where to look for setups) than in anyone's speech. (alternatively I'll go with interest rate hikes to come still and still buffer left in the yield curve vs a cutting fed, i.e. interest rates and long term plans of banks, anything really, just not silly day to day newswire firing-outs of one liners, catch-eye headlines and "we need someone to click us so we produce our daily fluffefefefef since so many people seem to crave it"..that sort of stuff is really tiring in the long run..every chart tick gets pre-and post-explained by every column on the wires ever printed sometimes it seems...wheat and chaff, how to tell in that sort of environment?)

Even the Commerzbank appears to be using it to say 1.4130 was an EW target.
Well, still anything better than trying to decipher news articles and whatnot(I try, oh I try..but I guess I remain a sinner)...I just finished reading three moneycentral articles, which in turn said

1. the crisis is unavoidable, long term and deadly(some guy called "Satyajit Das" who is apparently in a dire need to sell his book and hence is doom and gloomin' it up madly in any interview)

2. the crisis can be circumvented by a scribbling of Bush's pen (Freddi&Fannie hand-in-hand solution / Bush mortgage bailout, along with the subtle hints of "come see the author of this article LIVE! at our money show! Also, did we already mention the names of THESE FIVE GREAT BARGAIN STOCK SHARE NAMES!!?!!??! Let's repeat 'em once more!)

3. the crisis is unavoidable, everything's too big and we all goan' dah

4. pick any other random article choosing one of the two to flip-flop between

5. meantime the charts do their own thing(yea yea, don't bash me for constantly advertising charts, my point is: while the roadshow advertisements and stock spam flooding reports can't decide on which headline will cause most readers this week around, the charts actually attempt to reflect reality, whatever sick, twisted and to me incomprehensible reasoning is trying to hide behind it. If the "real' truth is hard to come by in the first place AND you're surrounded by incompetent reporters who report for names trying to appear competent, who to the untrained eye can't be of any use if 1. the trustworthyness of the author is undetermined and 2. the chance for a correct judgement and valuation even if he were/is is still < 100% and 3. any new mini-event, speech and decision can completely overrule the latter 2 once again? Charts in turn update reality at least around once every other second, are unwavering in their history and even when faking out they then at least are still doing it for/to everyone equally...I'm just not smart enough for more than that I'm starting to fear...or maybe not capable to be complicated enough to be able to find the hidden truth/gist/reality/point...and that's saying something given the way I chart lol)

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But really I just wanted to say the bank I meant was the IBK one.

(P.S. my empathy for anyone not only wanting but needing to sort through all those reports in the first place - the only thing I can imagine being more annoying than not knowing who to "trust" is already knowing so and knowing better and then STILL having to read the most obvious blatant misgivings/lie/BS/misinterpretations/opposite of economics logic 101 you've ever seen day to day..)