110 point slide in the Dow. Hmmmm
Cable Update (GBPUSD)
- #35,121
- Oct 11, 2007 11:22am Oct 11, 2007 11:22am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #35,123
- Oct 11, 2007 11:36am Oct 11, 2007 11:36am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Cesarnc,
IMHO, correction is just getting into its second stage, current rally in EUR and Cable is giving another opportunity for bears to short. Just look at previous corrections of EUR and Cable: from Dec-Jan 2006 and July 2007. First the price goes down for couple of hundred pips, then it comes back near previous top but never takes it out, and then WHAM tumbles sharply. In my opinion current EUR levels are very very juicy to short. And that's just an opinion. If EUR takes 4280-4300 area, I will be very surprised and forced to re-think my views.
But I like the WHAM!. I'm going to wait for the W and will short at the H all the way to AAAAAAAAAAAAAAAAAAAMMMMMMMMMMMM
110 point slide in the Dow. Hmmmm
That was creepy... Know the reason already?
The H1 Dow Jones is very funny right now... Tell me about DIRECTION! LOL
- #35,124
- Oct 11, 2007 11:48am Oct 11, 2007 11:48am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #35,126
- Oct 11, 2007 11:55am Oct 11, 2007 11:55am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #35,128
- Oct 11, 2007 12:13pm Oct 11, 2007 12:13pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
....we are about to see the carry trade unwinding,ladies & gents its time to short!
Dow Jones is losing the 14K
- #35,129
- Oct 11, 2007 12:45pm Oct 11, 2007 12:45pm
I'm really sorry, but I have to go help Walmart out with their earnings for this quarter - I just hope today's spending doesn't affect our trades quite yet 
I would go somewhere else, but I just don't have the time to run all over town (14 hours to go for my big move halfway around the world), and Walmart is a one-stop shop.
Btw, to offset this aid to the US Economy, shortly (in 14 hours) I will also be contributing to the British economy by paying the insanely high extra baggage charge to British Airways (btw, have they gone out of their minds?!?).
So, maybe, just maybe, it'll be a wash, and my actions, for once, won't affect cable
Also, please note that I will have very limited internet access for a few weeks; now, last time this happened, cable ran to 06xx. I missed it, although I did have some 'way out there never gonna happen' sell limits, all of which triggered (except for 2), and made me a killing once I was able to get back on
I would go somewhere else, but I just don't have the time to run all over town (14 hours to go for my big move halfway around the world), and Walmart is a one-stop shop.
Btw, to offset this aid to the US Economy, shortly (in 14 hours) I will also be contributing to the British economy by paying the insanely high extra baggage charge to British Airways (btw, have they gone out of their minds?!?).
So, maybe, just maybe, it'll be a wash, and my actions, for once, won't affect cable
Also, please note that I will have very limited internet access for a few weeks; now, last time this happened, cable ran to 06xx. I missed it, although I did have some 'way out there never gonna happen' sell limits, all of which triggered (except for 2), and made me a killing once I was able to get back on
Cable is my sugardaddy
- #35,130
- Oct 11, 2007 12:47pm Oct 11, 2007 12:47pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
I already posted this, but today it definitely fits in here 
http://www.elliottwave.com/images/ma...on%20sharp.gif
http://www.elliottwave.com/images/ma...on%20sharp.gif
- #35,132
- Oct 11, 2007 12:54pm Oct 11, 2007 12:54pm
Sorry... I finally managed to fall asleep
On another, unrelated note, and absolutely not in response to anything that went this morning, I would love to share my favorite quote with you all:
'The only problem in arguing with an idiot is that people watching may not be able to tell the difference.'
To laugh, to learn, and to teach!
- #35,134
- Oct 11, 2007 1:06pm Oct 11, 2007 1:06pm
- Joined Mar 2007 | Status: we are stardust, we are golden | 1,364 Posts
That's what happens on NFP day. That exact same pattern. Oh boy, this market is driving me crazy. Meanwhile, I hope everybody is short cable and GJ and UJ and everything else. I told you guys, bears have been unleashed, bull blood in the air, cable down to 1.9 before new highs.
*and as soon as he clicks submit, cable reverses*
I already posted this, but today it definitely fits in here
http://www.elliottwave.com/images/ma...on%20sharp.gif
Virtue finds and chooses the mean.
Aristotle, Ethica Nichomachea
- #35,136
- Oct 11, 2007 1:32pm Oct 11, 2007 1:32pm
- Joined Sep 2006 | Status: Trader | 2,163 Posts
"Invest With The Insiders, Not The Masses"
George Muzea
- #35,138
- Oct 11, 2007 1:45pm Oct 11, 2007 1:45pm
- Joined Mar 2007 | Status: we are stardust, we are golden | 1,364 Posts
Wishing all Muslim traders, Eid Mubarak.
And for those who have not the faintest clue what we're talking about, it's the muslim festival at the end of the month of ramadan. Sweets are the theme, as muslims celebrate the return of glucose to their bloodstream after a month of fasting
Virtue finds and chooses the mean.
Aristotle, Ethica Nichomachea
- #35,139
- Oct 11, 2007 2:01pm Oct 11, 2007 2:01pm
- | Joined Oct 2006 | Status: Trader | 1,946 Posts
I already posted this, but today it definitely fits in here
http://www.elliottwave.com/images/ma...on%20sharp.gif
Thanks, you too !
And for those who have not the faintest clue what we're talking about, it's the muslim festival at the end of the month of ramadan. Sweets are the theme, as muslims celebrate the return of glucose to their bloodstream after a month of fasting
Didn't know there were so many muslim traders.
Coffee with my trading again.