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Cable Update (GBPUSD)

  • #40,201
  • Nov 20, 2007 1:39pm Nov 20, 2007 1:39pm
People on The Street seem to have choked on the news...

Dow -120 after a +140 startup

Dollar, in the other hand, is going down across the board...
  • #40,202
  • Nov 20, 2007 1:46pm Nov 20, 2007 1:46pm
yeah.. that short term dow chart looks so bearish
  • #40,203
  • Nov 20, 2007 1:54pm Nov 20, 2007 1:54pm
Quoting peterM
yeah.. that short term dow chart looks so bearish
Yeah... Looks like loss of 13K confirmed.

Big time trendline in the daily right at 12.80/70. That's also a previous toppish area. Below that 12.45K to erase 2007's gains :surprised and then 12K doom.

Below 12k, Bernanke is kicked in the @ss
  • #40,204
  • Nov 20, 2007 1:55pm Nov 20, 2007 1:55pm
The FED is BSing again about low inflation.....looks like a stagflation is the most likely scenario. Uncle Ben has a time machine... Welcome back to the seventies guys!!!! High oil, high inflation, low employment, and a really FAT ELVIS...because Elvis never died!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: fat elvis.jpg Size: 48 KB
For he that would be deceived, let him.
  • #40,205
  • Nov 20, 2007 1:58pm Nov 20, 2007 1:58pm
Quoting pinchapip
The FED is BSing again about low inflation.....looks like a stagflation is the most likely scenario. Uncle Ben has a time machine... Welcome back to the seventies guys!!!! High oil, high inflation, low employment, and a really FAT ELVIS...because Elvis never died!!!!


BTW,

Euro is http://i2.photobucket.com/albums/y28...nc/mooning.gif http://i2.photobucket.com/albums/y28/cesarnc/ninja.gif

  • #40,206
  • Nov 20, 2007 2:42pm Nov 20, 2007 2:42pm
Quoting peterM
yeah.. that short term dow chart looks so bearish
dow has found buyers below 13k. Putting a pin-bar on the daily.

On confirmation, GU, GJ, EU skyhigh tomorrow.

Crazy volatile seesawish day today.
  • #40,207
  • Nov 20, 2007 2:52pm Nov 20, 2007 2:52pm
"Friedman Billings has downgraded Freddie Mac (FRE 27.06, -10.44) to Underperform from Market Perform, and is reducing its price target to $20 from $55, after Freddie reported a third quarter loss of $3.29 per share."
Attached Image
For he that would be deceived, let him.
  • #40,208
  • Nov 20, 2007 2:58pm Nov 20, 2007 2:58pm
Quoting pinchapip
"Friedman Billings has downgraded Freddie Mac (FRE 27.06, -10.44) to Underperform from Market Perform, and is reducing its price target to $20 from $55, after Freddie reported a third quarter loss of $3.29 per share."
The way market is being nervous lately, it's likely a selloff on McDonald's just in case

  • #40,209
  • Nov 20, 2007 3:03pm Nov 20, 2007 3:03pm
What about that......NASDAQ, DOW, S&P...all ended up positive !!! I guess people are covering yesterdays shorts.
For he that would be deceived, let him.
  • #40,210
  • Nov 20, 2007 3:11pm Nov 20, 2007 3:11pm
Quoting pinchapip
What about that......NASDAQ, DOW, S&P...all ended up positive !!! I guess people are covering yesterdays shorts.
Last hours bargain chasers + big fat trendline...

Overall picture is bearish, though. EMAs bending in the weekly, have already crossed on daily and lower TFs.

MACD has lost parachutes, too.
Attached Image
  • #40,211
  • Nov 20, 2007 3:22pm Nov 20, 2007 3:22pm
Hey Cesar...I'm hearing a lot about GBP/JPY going down BIG ...what is your take on that ???
For he that would be deceived, let him.
  • #40,212
  • Nov 20, 2007 3:31pm Nov 20, 2007 3:31pm
Quoting pinchapip
Hey Cesar...I'm hearing a lot about GBP/JPY going down BIG ...what is your take on that ???
No idea. I'm trading it on a daily basis only.

I lost sense on the market already. Not gonna assume larger term view, so not gonna give a rat's @ss about it
  • #40,213
  • Nov 20, 2007 4:36pm Nov 20, 2007 4:36pm
Where's QSilver? What are your verdict or new sight on the market? Because sunrise have you earlier until Europe and your opinion all the better....
  • #40,214
  • Nov 20, 2007 5:37pm Nov 20, 2007 5:37pm
Quoting Ironman
Where's QSilver? What are your verdict or new sight on the market? Because sunrise have you earlier until Europe and your opinion all the better....
I'm still Long all the way..
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,215
  • Edited 7:06pm Nov 20, 2007 5:56pm | Edited 7:06pm
Close long.. prepare for short. I'm targeting 30-50pips on this, then i'll go long..long and long...
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,216
  • Nov 20, 2007 6:02pm Nov 20, 2007 6:02pm
LoL
  • #40,217
  • Nov 20, 2007 8:26pm Nov 20, 2007 8:26pm
Quoting Qu|cksilver
Close long.. prepare for short. I'm targeting 30-50pips on this, then i'll go long..long and long...
may i know, have u open your short?
  • #40,218
  • Nov 20, 2007 9:55pm Nov 20, 2007 9:55pm
i am short,short,short ... ANY BODY ON THAT TRAIN?
  • #40,219
  • Nov 20, 2007 10:07pm Nov 20, 2007 10:07pm
Quoting flakk2000
i am short,short,short ... ANY BODY ON THAT TRAIN?
i am on the train. but no confidence
  • #40,220
  • Nov 20, 2007 11:15pm Nov 20, 2007 11:15pm
I'm on long now with a 45 pip profit, so i guess i'm staying in for a longer period of time, its 4 hours to the release of the FOMC meeting minutes, reports says the cable will weaken during the pre-release period..

Lets just hope no bad news's gonna come out and play with my stop-loss..



BUT if it all turns out well, its about time GBP rally up again..
Then its time to
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