Auslanco - GBP/JPY and GBP/USD (newstrade)

Quoting jarroo

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Could you show a chart, gene22?

Thanks,
Jim

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Quoting auslanco

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Thats what it looks like.. No other charts shows this spike except the intelli-charts.

I was curious when the very last 4hr Momentum was extremely bearish just few minutes before the market close. However this spike could be an error..

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Quoting MoForce

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The spike is an error... price closed at 239.85-239.95

A gap that big would have to be filled anyway lol

http://quote2.fxtrek.com/misc/fxcm2.asp

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Credit derivative traders are valuing bond insurers Ambac Financial Group (ABK.N: Quote, Profile , Research) and MBIA Inc (MBI.N: Quote, Profile , Research) as deep junk credits, while their stock prices have also plunged on concerns the companies may need more capital to shore up their high ratings. Credit default swaps on Ambac have surged to around 620 basis points, or $620,000 per year for five years to insure $10 million in debt, from 185 basis points a month ago, according to data provided by CMA DataVision.

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The CDO markets continued to deteriorate in crash-like manner as every rung of the ratings ladder from AAA on down continued to be marked down by the Credit Ratings Agencies: Moody's, S&P and Fitch. Whereas the big banks and investment houses can hide behind tier three and pray for a market recovery, the investing community cannot. Pension funds, institutions and money market funds, have fiduciary investment covenants which direct them to sell securities which are below certain ratings levels. Once an investment falls into the lower rungs on the investment scales they are bound by their own investing rules to divest the assets.

10's of billions of dollars of securities have been downgraded since the beginning of October and this will require that they be sold in a timely manner. Once those securities hit the markets we will know their true value, and it won't be pretty. The super SIV will quickly become an exercise in wishful thinking as their “high quality” paper becomes junk in the maelstrom of liquidation which increases every time a security is downgraded. The super SIV's whole reason for being was to prevent fire sales and price discovery. Some of the Triple AAA CDO's fell to 57 cents - aka Junk territory. More and more is slated to become so. Every sub index of elements (AAA, AA, A etc.) of the structured products has crashed since October 1. The carnage of losses is staggering!

Bond insurers Radian, Ambac and MBIA shares' are in freefall, not only from the projected losses from their insurance of CDO's and structured products, but state and municipal finances in the US are in freefall as well. Many Muni bond holders face BIG problems in the coming year. What will you do if a state or municipality goes bust and the insurance company guaranteeing their bonds does also? The real estate boom inflated their tax incomes and now is deflating them. I live in Chicago and they are angling to raise taxes 1 billion dollars, and it is no different in any other city or state in America . Soon you can add Europe to the list as the real estate BUBBLE is in a precarious position around the globe.

Quoting el grande

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Quote:
Originally Posted by gene22 http://www.forexfactory.com/images/buttons/viewpost.gif
OK, the only piece of data that I need to confirm is a close below 238.15 on this baby, judjing from everything else, we are in for a nice fast ride, by next friday we'll see 230, that's a minimum target, cad is very attractive as well for a prolonged correction, so is the pound, euro may bounce here and there as the fundamentals in Europe still "Seem" to be good, not to me, but it will take time to sink in, fasten your seatbelts jentlemen, let the games begin.

Could you show a chart, gene22?

Thanks,
Jim



hhhhhmmmm....I kind of missed and skipped this one.. I do not recall this gentleman posting a chart for his cowboy potshots and he had the balls to call me a cowboy and a sharlatan. He had an excuse to post on Sunday while he was demanding for my charts right away. Well Mr Nice guy, my charts were all over my thread while I could not see any of your charts.

He did not understand what I was trying to show you guys last Friday. All he was probably concerned was HIS PANIC Button when I mentioned 245-247.

No Wonder.....
COZ he was wearing his BERMUDAs down to his amkles looking at 230 by next Friday.

Attached is a chart showing why I think it is unlikely but never impossible.(unless wave 32 is an expanded Flat) But it is a bit unlikely as the wave from current 31 to 32 is a 5 wave structure. It has to be a 3 wave structure as a signal for an expanded flat corrective wave to develop (as far as my guideline states)
EG

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Quoting jarroo

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Something about gene22 I don't like. Probably it's his tone, attitude, lack of backing up what he says or didn't say,(or never said at all), etc. His posts saying everthing, yet say nothing.

On the other hand, el grande, you back up what you say with a chart and analysis. I may not understand them totally, but I learn for you.

gene22 has yet to prove anything that he says (or didn't say). To me, he is just a wanabe, I don't take him seriously.

Jim

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Quoting auslanco

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So.. you asking me to summarize 45000 pages into one single post??

start by reading these three links:

http://www.pnwenterprises.com/auslanco/

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Quoting jarroo

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Something about gene22 I don't like. Probably it's his tone, attitude, lack of backing up what he says or didn't say,(or never said at all), etc. His posts saying everthing, yet say nothing.

On the other hand, el grande, you back up what you say with a chart and analysis. I may not understand them totally, but I learn for you.

gene22 has yet to prove anything that he says (or didn't say). To me, he is just a wanabe, I don't take him seriously.

Jim

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Quoting jarroo

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Something about gene22 I don't like. Probably it's his tone, attitude, lack of backing up what he says or didn't say,(or never said at all), etc. His posts saying everthing, yet say nothing.

On the other hand, el grande, you back up what you say with a chart and analysis. I may not understand them totally, but I learn for you.

Jim

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Quoting my2buoys

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I personally like Gene's attitude. People who 'barge into' a thread (The Large One's own words) and start throwing out projections based upon strategies totally foreign to the traders in this thread need to be challenged. Gene has already mentioned earlier he has been having trouble getting his charts to upload properly to fit into the post space. He did, however, post a few charts in spite of that. As 'The Large One' stated in his overbloated post a few posts above this one, he himself just kind of 'barged into' this thread out of nowhere. In fact, go ahead and read the few posts he has made in Aus's thread over the last couple of days and count how many times he has mentioned 'his own personal thread'. Sounds to me like he just came in here to pimp his own thread because he doesn't have much activity over there. I've scanned his thread and it's mostly filled with him talking to himself. I'm thinking he got lonely over there and decided to go 'fishing' for some new students in the most popular thread in FF. His thread was started in March of 2007 and currently has just over 1000 posts. Aus started this thread in July of 2007 and has over 45,000 posts. You do the figuring from there. Anyone smell a bit of jealousy, perhaps? He keeps telling us in his posts that if we would just come over to his thread we could see all the charts we wanted supporting his approach. He said he was 'too busy trading' to take the time to post those charts here. If that's the case, then where is he finding the time to even post in Aus's thread? Anyone who can't see through "The Large One's" gobbledygook deserves to go ahead and follow him over to his thread involving the very comlicated Elliot Wave approach to trading. It is, by far, one of the most complicated approaches to trading that exists. I don't care how profitable it might be, to the average trader who is just trying to learn how to read charts effectively it's a 'no win' situation. It's like trying to teach someone how to do calculus when they are still learning how to multiply and divide. Elliot Wave has been brought up in this thread before and basically rejected because of its vagueness and the inability to tie it in with Aus's systems. This thread is not just a GBP/JPY trading thread. Read the first page. It is a thread designed to help people learn how to trade GBP/JPY using Aus's system. Unless a person's ideas can be shown to enhance or support Aus's systems it shouldn't be advertised here. That doesn't make anyone else's system wrong, this just isn't the platform for it. Aus is trying his best to keep this thread as uncomplicated as possible. So I shall close this post now and prepare myself for the regular onslaught of 'Dr. Phils' telling me how mean and disparaging I am. Hold your ground, Gene. Don't let the barking dogs at the gate scare you. Looking forward to what you have to say in the coming weeks.

M2B

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Quoting karmostaji

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http://www.bloomberg.com/index.html?Intro=intro3

Click on the video of 'Jim Rogers' speaking, honestly I thought it was our markam speaking.

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Quoting my2buoys

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And this post-post is just for you, Jarroo. How can you learn something from someone if you don't understand what they are saying?

M2B

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Quoting jarroo

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Dude. Relax. Take breathe. I didn't know you and gene22 were buddies.
Sorry, gene22 doesn't impress me. Now on with trading.

Jim

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Quoting my2buoys

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Bro, I like the new website. Very organized and to the point. This should definitely help all newcomers learn the basics of your systems without having to read every page of the thread, (though that would not be a bad thing for newbies). Keep up the great job.

M2B

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