Don't worry, life's too short
Cable Update (GBPUSD)
- #60,922
- Apr 8, 2008 8:52am Apr 8, 2008 8:52am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
- #60,923
- Apr 8, 2008 8:54am Apr 8, 2008 8:54am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
If you are willing to hold your position for a few days and not hours or minutes. The pair will most likely go down to 1.94 as it has broken it's major support around the 1.98 region. Take a look at the daily chart and you'll seea break out on a descending triangele. If there is a close on the daily chart below this region, look to go short towards 1.94. I have been short this pair since a 1.9903. There might be a return move to a 1.98 but it will most likely be met with selling pressure pushing the pair towards 1.94. Institutional traders went short this pair by the way last friday after being net long due to the UK outlook. Also there is more room for depreciation with the interest rate announcement not until thursday. Then look for further clues in the BOE statment for the direction of this pair. To summarize, you could go short during the next rally with your stop loss behind the 1.98 region which will now serve as support and your target for a 1.94 or 1.95 if you want to get out early. Once again it may take some time.
X 100. I'm with you all the way for this thought.
I dream, therefore I become.
- #60,924
- Apr 8, 2008 8:54am Apr 8, 2008 8:54am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
- #60,926
- Apr 8, 2008 9:21am Apr 8, 2008 9:21am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
- #60,927
- Apr 8, 2008 10:01am Apr 8, 2008 10:01am
- Joined Feb 2007 | Status: Trader | 2,428 Posts
Morgan Stanley CEO: Signs of End to Mortgage Crisis
MORGAN STANLEY CREDIT CRUNCH MORTGAGE CRISIS
By Reuters
Reuters
| 08 Apr 2008 | 10:02 AM ET
Morgan Stanley Chief Executive John Mack said markets are the most difficult he's seen in 40 years, but there are several signs that the investment bank is closer to coming through its mortgage and corporate loan difficulties.
The United States is near the end of working through the subprime mortgage crisis, Mack said. (Video: CNBC's Mary Thompson reports from the Morgan Stanley shareholder meeting in Purchase, NY.)
He added that he is still concerned about commercial mortgage securities, European debt markets, and mid-size U.S. banks.
Speaking on the sidelines of Morgan Stanley's annual meeting, Mack said the financial crisis has several more quarters to go.
This year will be difficult for Wall Street, Mack said. Morgan Stanley is still focusing on liquidity and conserving its cash.
But Washington Mutual receiving a $7 billion capital infusion from an investor group led by TPG Inc is encouraging, Mack added.
Investors have large amounts of cash on the sidelines, he said.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24011450/
MSN Privacy . Legal
2008 CNBC.com
MORGAN STANLEY CREDIT CRUNCH MORTGAGE CRISIS
By Reuters
Reuters
| 08 Apr 2008 | 10:02 AM ET
Morgan Stanley Chief Executive John Mack said markets are the most difficult he's seen in 40 years, but there are several signs that the investment bank is closer to coming through its mortgage and corporate loan difficulties.
The United States is near the end of working through the subprime mortgage crisis, Mack said. (Video: CNBC's Mary Thompson reports from the Morgan Stanley shareholder meeting in Purchase, NY.)
He added that he is still concerned about commercial mortgage securities, European debt markets, and mid-size U.S. banks.
Speaking on the sidelines of Morgan Stanley's annual meeting, Mack said the financial crisis has several more quarters to go.
This year will be difficult for Wall Street, Mack said. Morgan Stanley is still focusing on liquidity and conserving its cash.
But Washington Mutual receiving a $7 billion capital infusion from an investor group led by TPG Inc is encouraging, Mack added.
Investors have large amounts of cash on the sidelines, he said.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24011450/
MSN Privacy . Legal
2008 CNBC.com
- #60,931
- Apr 8, 2008 11:19am Apr 8, 2008 11:19am
- Joined Feb 2007 | Status: Trader | 2,428 Posts
Fed Minutes: Some Worry About Deep Recession
FED, FEDERAL RESERVE, GDP, ECONOMIC GROWTH, FOMC, FED MINUTES
By Reuters
Reuters
| 08 Apr 2008 | 02:04 PM ET
Members of the Federal Reserve's policy-setting committee worried at their most recent meeting that housing and financial market stress could trigger a nasty slide in the economy, even as inflation pushed higher.
According to minutes of a March Fed meeting made public Tuesday, some members thought a "prolonged and severe economic downturn" could not be ruled out in view of tight credit and the slumping housing market.
"Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market," minutes of the March 18 meeting said.
To limit damage to the economy, Fed Chairman Ben Bernanke and most of his colleagues agreed to slash the interest rate by three-fourths of a percentage point--to 2.25%, capping its most aggressive two months of action in a quarter-century.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24014616/
MSN Privacy . Legal
2008 CNBC.com
FED, FEDERAL RESERVE, GDP, ECONOMIC GROWTH, FOMC, FED MINUTES
By Reuters
Reuters
| 08 Apr 2008 | 02:04 PM ET
Members of the Federal Reserve's policy-setting committee worried at their most recent meeting that housing and financial market stress could trigger a nasty slide in the economy, even as inflation pushed higher.
According to minutes of a March Fed meeting made public Tuesday, some members thought a "prolonged and severe economic downturn" could not be ruled out in view of tight credit and the slumping housing market.
"Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market," minutes of the March 18 meeting said.
To limit damage to the economy, Fed Chairman Ben Bernanke and most of his colleagues agreed to slash the interest rate by three-fourths of a percentage point--to 2.25%, capping its most aggressive two months of action in a quarter-century.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24014616/
MSN Privacy . Legal
2008 CNBC.com
Gbp/Usd
Wave-count ( Daily Bars ).............
---------------------------------------------------
Only a Probability ................ Not Cast in Stone !
----------------------------------------------------
http://i31.tinypic.com/16aw309.gif
Wave-count ( Daily Bars ).............
---------------------------------------------------
Only a Probability ................ Not Cast in Stone !
----------------------------------------------------
http://i31.tinypic.com/16aw309.gif
After losing my first battle, by way of knock-out, with Abuawad's system at the 9908 level (I went long; which stopped me out).....i waited for the next rematch signal to short gbp/usd at the 9860 level; with fingers somewhat crossed.
(CURRENTLY UP +187 PIPS - 50 PIP S/L previous entry = +137 pips.
The return of Mr. Real Confidence, Mrs. Stable emotions, Ms. Happiness.
1.9860 entry
1.9680 current price
Market has been hovering within ~30 pips for the past 6 hours (LONG ANYONE?)....I'm gonna wait for more confirmation.
Next S/R on the way down (short) i think is "Weekly S2 at 1.9584".....don't know about gbp/usd reaching this level...it hasn't tested those waters since feb 21 or so.
Who ever REALLY knows......
THANK YOU TO EVERYONE FOR SO MUCH USEFUL INFO.
- #60,934
- Apr 8, 2008 11:31am Apr 8, 2008 11:31am
- Joined Feb 2007 | Status: Trader | 2,428 Posts
Fed Minutes: Some Worry About Deep Recession
FED, FEDERAL RESERVE, GDP, ECONOMIC GROWTH, FOMC, FED MINUTES
By Reuters
Reuters
| 08 Apr 2008 | 02:04 PM ET
Members of the Federal Reserve's policy-setting committee worried at their most recent meeting that housing and financial market stress could trigger a nasty slide in the economy, even as inflation pushed higher.
According to minutes of a March Fed meeting made public Tuesday, some members thought a "prolonged and severe economic downturn" could not be ruled out in view of tight credit and the slumping housing market.
"Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market," minutes of the March 18 meeting said.
To limit damage to the economy, Fed Chairman Ben Bernanke and most of his colleagues agreed to slash the interest rate by three-fourths of a percentage point--to 2.25%, capping its most aggressive two months of action in a quarter-century.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24014616/
MSN Privacy . Legal
2008 CNBC.com
FED, FEDERAL RESERVE, GDP, ECONOMIC GROWTH, FOMC, FED MINUTES
By Reuters
Reuters
| 08 Apr 2008 | 02:04 PM ET
Members of the Federal Reserve's policy-setting committee worried at their most recent meeting that housing and financial market stress could trigger a nasty slide in the economy, even as inflation pushed higher.
According to minutes of a March Fed meeting made public Tuesday, some members thought a "prolonged and severe economic downturn" could not be ruled out in view of tight credit and the slumping housing market.
"Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market," minutes of the March 18 meeting said.
To limit damage to the economy, Fed Chairman Ben Bernanke and most of his colleagues agreed to slash the interest rate by three-fourths of a percentage point--to 2.25%, capping its most aggressive two months of action in a quarter-century.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24014616/
MSN Privacy . Legal
2008 CNBC.com
- #60,936
- Apr 8, 2008 11:50am Apr 8, 2008 11:50am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
I'm figuring out how to post a chart; my broker is gft. I've been with them 3 years and i've never learned how lol... but in the mean time basically the former support around the 1.9800 region will now be resistance and a nice place to short if there is a rally. I'll post a chart soon.
