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  • #48,621
  • Nov 7, 2007 5:36pm Nov 7, 2007 5:36pm
Quoting emda
or maybe even 174 !

I think 174.35.
  • #48,622
  • Nov 7, 2007 5:43pm Nov 7, 2007 5:43pm
Quoting markam
I think 174.35.
Hmmmmm. Where have I have heard that area talked about before?
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  • #48,623
  • Nov 7, 2007 5:46pm Nov 7, 2007 5:46pm
Quoting markam
UJ has officially breached the lows that were set in August. The only reason that GJ isn't way below 220 right now is the strength of the pound against the dollar.

Based upon fundamentals, the pound is horribly overvalued. Their economic situation is even worse than the US's. When the pound begins to collapse, I could see GJ easily dropping below 175.
We might see something tomorrow morning.
Humble Lifetime Member
  • #48,624
  • Nov 7, 2007 5:47pm Nov 7, 2007 5:47pm
Quoting gene22
the day before yesterday i said to watch the 7th and the 8th
Hey gene,
Is the 16th still on ?
  • #48,625
  • Nov 7, 2007 5:48pm Nov 7, 2007 5:48pm
Quoting rodders
Hey gene,
Is the 16th still on ?
Yes
  • #48,626
  • Nov 7, 2007 5:49pm Nov 7, 2007 5:49pm
Quoting Ash
We might see something tomorrow morning.
I would love to see the BOE cut interest rates.
  • #48,627
  • Nov 7, 2007 5:50pm Nov 7, 2007 5:50pm
Quoting fourxtrader
Hi mates,

I've been away... regrowing my brain due to some new advancements in
adult stem cell research. All is well.

I can see in color now. More green than red. lol

Might help some of you here.

Dr. D.
Welcome back Dr. D!
Humble Lifetime Member
  • #48,628
  • Nov 7, 2007 5:51pm Nov 7, 2007 5:51pm
November 7 2007: 5:20 PM EST

NEW YORK (AP) -- Moody's Investors Service said Wednesday it either downgraded or placed on a watch list for possible downgrade its ratings on $33 billion of holdings in structured investment vehicles, including several affiliated with Citigroup Inc.
  • #48,629
  • Nov 7, 2007 5:52pm Nov 7, 2007 5:52pm
SAN FRANCISCO (MarketWatch) -- Investment bank Morgan Stanley reported late Wednesday that it was taking a new $3.7 billion hit from exposure to subprime-mortgage securities, the latest sign that the global credit crisis hasn't subsided.
  • #48,630
  • Nov 7, 2007 5:53pm Nov 7, 2007 5:53pm
Quoting markam
I would love to see the BOE cut interest rates.
Wouldn't that make everyone's day!

Did you notice, Silver has been dropping?
Humble Lifetime Member
  • #48,631
  • Nov 7, 2007 5:56pm Nov 7, 2007 5:56pm
Quoting my2buoys
Hmmmmm. Where have I have heard that area talked about before?
M2B, if you remember, I had the same view, at this point however we will really have to watch what the 26th will bring, scenario #1 we could see an acceleration of the unwinding, and then yes that would be a long term target, scenario #2 that, hate to say this, but begining to lean toward, is a rise and a top beyond 251. From the fundamental stand point it makes little sense, and as far as technicals I have 2 accurate(inmo) but conflicying scenarios ,so let's see. Just keep it in the back of your head, this may not be a one way street, or maybe it will?!
Take a look at the yen/us weekly, monthly, draw some obvious lines, I think you'll see what I mean
  • #48,632
  • Nov 7, 2007 6:00pm Nov 7, 2007 6:00pm
Quoting markam
November 7 2007: 5:20 PM EST

NEW YORK (AP) -- Moody's Investors Service said Wednesday it either downgraded or placed on a watch list for possible downgrade its ratings on $33 billion of holdings in structured investment vehicles, including several affiliated with Citigroup Inc.
Something struck me, Secretary of the Treasury Henry M. Paulson "Goldman still has on the market some $13 billion of almost $37 billion in bonds backed by subprime loans or second mortgages that it created while he was chief executive officer. Those bonds have an average delinquency rate of almost 22 percent, higher than the average of other subprime bonds from the period, according to data compiled by Bloomberg".

http://www.bloomberg.com/apps/news?p...oaM&refer=home

It is starting to make sense as to why he was trying so hard to sell the $80 Billion SIV Fund to the world.
Humble Lifetime Member
  • #48,633
  • Nov 7, 2007 6:10pm Nov 7, 2007 6:10pm
Quoting Wolf.
Hope you still have your shorts Zoran.

You have a great big smile right now .
I can't remember the last time I called a long. It has been a while. It's a shame it didn't got back into the 240's otherwise I would have been fully loaded. First TP was 235 region (50% fib on the daily).
  • #48,634
  • Nov 7, 2007 6:13pm Nov 7, 2007 6:13pm
Tiger Hunter, are you out there? We could use your wisdom and your sharp eyes today.
  • #48,635
  • Nov 7, 2007 6:15pm Nov 7, 2007 6:15pm
Quoting gene22
M2B, if you remember, I had the same view, at this point however we will really have to watch what the 26th will bring, scenario #1 we could see an acceleration of the unwinding, and then yes that would be a long term target, scenario #2 that, hate to say this, but begining to lean toward, is a rise and a top beyond 251. From the fundamental stand point it makes little sense, and as far as technicals I have 2 accurate(inmo) but conflicying scenarios ,so let's see. Just keep it in the back of your head, this may not be a one way street, or maybe it will?!
Take a look at the yen/us weekly, monthly, draw some obvious lines, I think you'll see what I mean
Yes, I haven't forgotten. I'm still studying those first two charts you posted earlier this week. By the way, you mentioned the 26th in this post. Don't you mean the 16th, or did you have another projection date besides the 16th? As far as price moving back up and going against the fundies, you have to remember that technicals are really based upon human psychology in the long run, and people love bargains (even traders!) . A lot of MA's, Fibs and trendline analysis is really based upon what the majority of people are probably going to do because they believe price will move, bounce, reverse at those levels. I've read a lot about Fibs especially, and whether or not they are just self-fulfilling prophecies, because people believe in them, not because there is magic in those numbers. But there are the occasions where now matter what the technicals are saying, news (good or bad) can grab the market and take it wherever it wants to, at least temporarily. Technicals usually end up balancing things out in the long run. This should be a fun couple of months coming up.

M2B
  • #48,636
  • Nov 7, 2007 6:16pm Nov 7, 2007 6:16pm
Quoting Pips_Cruiser
Tiger Hunter, are you out there? We could use your wisdom and your sharp eyes today.
i hope you sail smooth with the flow today , it is good day to me
what about you?
  • #48,637
  • Nov 7, 2007 6:18pm Nov 7, 2007 6:18pm
Quoting fourxtrader
Hi mates,

I've been away... regrowing my brain due to some new advancements in
adult stem cell research. All is well.

I can see in color now. More green than red. lol

Might help some of you here.

Dr. D.
Good to see you back Dr.... Have you been studying?
  • #48,638
  • Nov 7, 2007 6:22pm Nov 7, 2007 6:22pm
when Nikkei will open?
  • #48,639
  • Nov 7, 2007 6:22pm Nov 7, 2007 6:22pm
Are we seeing a retrace back up?
  • #48,640
  • Nov 7, 2007 6:22pm Nov 7, 2007 6:22pm
I know the Momentum on most TFs is still bearish for the most part, but I can see this thing retracing back to at least 237.30 where there is a confluence of resistance lines including the 4H 5SMA, the 50 Fib line from the last move down and the 15M 50EMA.

M2B
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