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  • #5,721
  • Feb 29, 2008 2:04am Feb 29, 2008 2:04am
Quoting MPP
i left 2 positions open last night with tight stops expecting to get closed both way in the pips now. still it's friday
I'm thinking, usually we see profit taking on Fridays but this is something different. $ weakness across the board. No way are the fundamentals going to change overnight, Bernanke going to raise rates to 10% to get strengthen the $. We will see profit taking but I reckon we will again make new highs. Look at Gold and Oil Yesterday.

There is money to be made in forex but also plenty of money in commodities such as oil, silver, wheat, soybeans, etc.....

Yeah, my s/l are tighter than "Judas Priest's Band Members Leather Pants".
Humble Lifetime Member
  • #5,722
  • Feb 29, 2008 2:48am Feb 29, 2008 2:48am
I don't expect any profit taking till European close, if that. Just my opinion.
Patience + Humility + Study = Success
  • #5,723
  • Feb 29, 2008 3:14am Feb 29, 2008 3:14am
Quoting DutchTrader
I don't expect any profit taking till European close, if that. Just my opinion.
I hear ya Dutch......

Some news......Bernanke aftermath.....it's February 29th......it's Friday.....it's the end of the month....

Looks like a nap until then....

HOLLA
  • #5,724
  • Feb 29, 2008 3:15am Feb 29, 2008 3:15am
Quoting Ash
I'm thinking, usually we see profit taking on Fridays but this is something different. $ weakness across the board. No way are the fundamentals going to change overnight, Bernanke going to raise rates to 10% to get strengthen the $. We will see profit taking but I reckon we will again make new highs. Look at Gold and Oil Yesterday.

There is money to be made in forex but also plenty of money in commodities such as oil, silver, wheat, soybeans, etc.....

Yeah, my s/l are tighter than "Judas Priest's Band Members Leather Pants".
When I got up this morning I look at the chart and say SHORT. My coin said LONG. So I stay aside.
.
  • #5,725
  • Feb 29, 2008 3:16am Feb 29, 2008 3:16am
Quoting Ash
I'm thinking, usually we see profit taking on Fridays but this is something different. $ weakness across the board. No way are the fundamentals going to change overnight, Bernanke going to raise rates to 10% to get strengthen the $. We will see profit taking but I reckon we will again make new highs. Look at Gold and Oil Yesterday.

There is money to be made in forex but also plenty of money in commodities such as oil, silver, wheat, soybeans, etc.....

Yeah, my s/l are tighter than "Judas Priest's Band Members Leather Pants".
The $ is one thing. But could you please look at the EUR/GBP chart? If euro falls, that goes up, than what will the gu do?
.
  • #5,726
  • Feb 29, 2008 3:33am Feb 29, 2008 3:33am
Morning all... So, all of a sudden Yen is the market's new sugardaddy? Never saw this UJ dumping coming....

If GJ breaches 207, bye bye....
  • #5,727
  • Feb 29, 2008 3:36am Feb 29, 2008 3:36am
hey all,

just went long on XAUUSD...

but i wanted to share a concern with u all

i see this thing reaching 1k usd per gold ounce... and for me.. dunno why that would represent a real concern to world wide economy... not only because this wild rally on oil... but this gold thing is soareing too...

but...

maybe this 1k barrier could represent the top of this year on gold...

i strongly believe that entering at 1k SHORT on gold... a very small position could give us a HUGE return year-ending...


what do u think guys?

iiivb
  • #5,728
  • Feb 29, 2008 3:40am Feb 29, 2008 3:40am
Pairs are stabilizing in Europe, as the equities are bullish. For now.
Patience + Humility + Study = Success
  • #5,729
  • Feb 29, 2008 3:58am Feb 29, 2008 3:58am
thats a good one, for now,..i think ur right, since i cant log in oanda, and that means only one thing, they are preventing traders to execute longs...or book profits...

lets vote, for monday,...
1. yen carries will make new low on monday
2. yen carries will not make new low on monday

please vote...
its just money
  • #5,730
  • Feb 29, 2008 4:01am Feb 29, 2008 4:01am
Quoting de123
thats a good one, for now,..i think ur right, since i cant log in oanda, and that means only one thing, they are preventing traders to execute longs...or book profits...

lets vote, for monday,...
1. yen carries will make new low on monday
2. yen carries will not make new low on monday

please vote...
I have the same problem. I am autotrading so I am not worried that I cannot trade but I AM FREEKIN WORRIED about the integrity, reliablity of THAT BROKER. I need to switch.
.
  • #5,731
  • Feb 29, 2008 4:03am Feb 29, 2008 4:03am
And ther site is down too??
What is going on??
https://fxtrade.oanda.com
.
  • #5,732
  • Feb 29, 2008 4:03am Feb 29, 2008 4:03am
Quoting iiivb
hey all,

just went long on XAUUSD...

but i wanted to share a concern with u all

i see this thing reaching 1k usd per gold ounce... and for me.. dunno why that would represent a real concern to world wide economy... not only because this wild rally on oil... but this gold thing is soareing too...

but...

maybe this 1k barrier could represent the top of this year on gold...

i strongly believe that entering at 1k SHORT on gold... a very small position could give us a HUGE return year-ending...


what do u think guys?

iiivb
Invho, after looking at the Dollar Index Chart last night, I can not see how anyone would be bullish on the $. Since the $ is at a all time low, gold should be rising along with other commodities. Granted we may bouts here and there in regards to $ bullish but in the very long term, I am inclined to see the $ bearish and Gold bullish as a hedge against inflation. Not only would I look at Gold but also look at silver.

when we do see $1000 Gold, we should see a pull back in the short term but I would remain bullish. (Imvho)
Humble Lifetime Member
  • #5,733
  • Feb 29, 2008 4:08am Feb 29, 2008 4:08am
Quoting de123
thats a good one, for now,..i think ur right, since i cant log in oanda, and that means only one thing, they are preventing traders to execute longs...or book profits...

lets vote, for monday,...
1. yen carries will make new low on monday
2. yen carries will not make new low on monday

please vote...
See you Mr. Yen around 95 in the near future.
Attached Image (click to enlarge)
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Humble Lifetime Member
  • #5,734
  • Feb 29, 2008 4:10am Feb 29, 2008 4:10am
Quoting bullrock
The $ is one thing. But could you please look at the EUR/GBP chart? If euro falls, that goes up, than what will the gu do?
Imvho, GU should be falling hard but the only reason it has gone up is due a couple of good #'s and a weak $. The BOE have their work cut out for them.
Humble Lifetime Member
  • #5,735
  • Feb 29, 2008 4:11am Feb 29, 2008 4:11am
Ash,

Agree on Jpy 95, 100 at least before some stern intervention. BTW look for a bounce off 98.07 on AJ 1h
Patience + Humility + Study = Success
  • #5,736
  • Feb 29, 2008 4:13am Feb 29, 2008 4:13am
Quoting DutchTrader
Ash,

Agree on Jpy 95, 100 at least before some stern intervention.
I hope they intervene, so I can load up on my shorts.
Humble Lifetime Member
  • #5,737
  • Feb 29, 2008 4:13am Feb 29, 2008 4:13am
Quoting Ash
Imvho, GU should be falling hard but the only reason it has gone up is due a couple of good #'s and a weak $. The BOE have their work cut out for them.
How are you by the way, Ash?
.
  • #5,738
  • Feb 29, 2008 4:15am Feb 29, 2008 4:15am
Quoting Ash
Invho, after looking at the Dollar Index Chart last night, I can not see how anyone would be bullish on the $. Since the $ is at a all time low, gold should be rising along with other commodities. Granted we may bouts here and there in regards to $ bullish but in the very long term, I am inclined to see the $ bearish and Gold bullish as a hedge against inflation. Not only would I look at Gold but also look at silver.

when we do see $1000 Gold, we should see a pull back in the short term but I would remain bullish. (Imvho)
TYVM for ur reply Ash!

Yes, I agree with you. But i have been thinking that maybe USD bears are "too" bearish if you know what i mean.

Though I am not a nobel prize economist, I am considering that the stock markets are bottoming all this year. Meaning that this whole year gonna be a range-bound market on stocks... and carry-trades i think are behaving the same way...

I have started considering that this whole subrime crisis -yet not over- the worst part is behind...

Lets say i am a bit bullish on stocks right now... with all the collateral things that could mean in other markets.

iiivb
  • #5,739
  • Feb 29, 2008 4:25am Feb 29, 2008 4:25am
Quoting de123
thats a good one, for now,..i think ur right, since i cant log in oanda, and that means only one thing, they are preventing traders to execute longs...or book profits...

lets vote, for monday,...
1. yen carries will make new low on monday
2. yen carries will not make new low on monday

please vote...
A bounce, then a low....just don't know what day though...

HOLLA
  • #5,740
  • Edited 4:37am Feb 29, 2008 4:35am | Edited 4:37am
Quoting iiivb
TYVM for ur reply Ash!

Yes, I agree with you. But i have been thinking that maybe USD bears are "too" bearish if you know what i mean.

Though I am not a nobel prize economist, I am considering that the stock markets are bottoming all this year. Meaning that this whole year gonna be a range-bound market on stocks... and carry-trades i think are behaving the same way...

I have started considering that this whole subrime crisis -yet not over- the worst part is behind...

Lets say i am a bit bullish on stocks right now... with all the collateral things that could mean in other markets.

iiivb
I know what you mean but considering the seriousness of the $ index, it has changed my mind. I thought that 75 was the ultimate support and that the US Treasury would do almost anything in it's power to support it in conjunction with the fed. Looking at the Trend that started in late 2001, it has been an ongoing journey down wards.

No, the ? that arises as to why? There are many that come to my mind and seem logical. After 9/11, there was a backlash against individuals of Islamic faith / countries. I know, because I worked for the government. They made it harder for legitimate students who came to the US to study. These students had to wait up to a year to get their visa's, once they did, they had to go special registrations upon entry into the US. Legitimate Businessman had to wait countless hours at airports to get documented and fingerprinted. If an individual was traveling with his family, his family also had to bear the hardship of waiting at airports. These individuals also had to inform and register once more when they left the country. Now, it was not only individuals from Islamic countries but also from N. Korea, Cuba, etc.

Now, would anyone in their right mind would want to go through hassle of coming to the US to study when there are other institutions in Europe that offer the same education of equal or better standards? Would any businessman want to have to wait 1-13 hours at an airport to get registered when he or she could conduct business via video conferencing / telephone? Or better yet, find some other buyer or supplier in Europe?

Let us not forget the Dubai World Port deal that happened to go down the drain because of a phobia that had no foundation. That was a multi-billion dollar deal.

Now if I were an investor, looking at the climate in the US, would I want to invest my money in the US? The answer would unfortunately be no.

So, we may see bouts of $ bullishness, here and there, but in the long run, I am bearish.

FYI: Iran is already accepting payments for oil in the Yen (from Japan). All we need is Mr. Chavez to announce that he will start accepting payment in Euros. I wouldn't be surprised if the Arab oil producers are or have been quietly converting their $$$'s into Euros.
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