Dislikedseem like the hammer pattern gona get validated by the follow up bullish candle!!
106.4x region will be interesting!!!
sonicIgnored
Anyway, I trade what I see...
I have USD LONG close @ 90 pip!!!
Close shop for me today!!!
sonic
- #10,861
- Edited 3:39pm Jul 17, 2008 1:42pm | Edited 3:39pm
- | Commercial User | Joined Mar 2008 | 9,069 Posts
- #10,864
- Jul 17, 2008 3:34pm Jul 17, 2008 3:34pm
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
hahahaaaaaaaaa.. i'm back as my 109 is on the way
USD/JPY is on the way back to 105.00 for purely fundamental reasons. The Dow had it's run because of short covering in the Dow on the financial stocks and the drop in Oil. Look at the $9.7 Billion Write Off just declared by Merrill Lynch !!!
See you at the 105.00 Post ... YUP !!!
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- #10,866
- Jul 17, 2008 3:38pm Jul 17, 2008 3:38pm
- | Commercial User | Joined Mar 2008 | 9,069 Posts
USD/JPY is on the way back to 105.00 for purely fundamental reasons. The Dow had it's run because of short covering in the Dow on the financial stocks and the drop in Oil. Look at the $9.7 Billion Write Off just declared by Merrill Lynch !!!
See you at the 105.00 Post ... YUP !!!
Obviously short covering!!!
"Look at the $9.7 Billion Write Off just declared by Merrill Lynch !!!"
sonic
- #10,871
- Jul 17, 2008 9:29pm Jul 17, 2008 9:29pm
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #10,872
- Jul 17, 2008 9:42pm Jul 17, 2008 9:42pm
- | Membership Revoked | Joined Jul 2006 | 1,241 Posts
- #10,875
- Jul 17, 2008 10:08pm Jul 17, 2008 10:08pm
Has the Dow factored the Merrill's horrendous earning results in itself? I say, it has not yet, because it was released after the market hours. If this was the case, the Dow might get double punches from Merrill and CITI in the coming NY session.
http://money.cnn.com/2008/07/17/news...ion=2008071719
http://www.ft.com/cms/s/2a609bac-543...%2Fhome%2Fasia
Merrill said it lost $4.9 billion overall. On a continuing operations basis, it lost $4.6 billion, or $4.95 a share, down from a profit of $2.01 billion, or $2.24 a share a year ago. Analysts polled by Thomson Reuters were expecting the company to report a loss of just over $1.8 billion, or $1.91 a share on this basis.
Citigroup is expected to follow Merrill with its own ugly performance on Friday. Analysts expect the nation's largest bank by assets to lose more than $2.8 billion, or 61 cents per share
Merrill Lynch on Thursday spoiled investors’ appetite for financial stocks with larger-than-expected writedowns of $9.4bn that underlined banks’ continuing struggles to emerge from the credit crunch. In an unusual move, Merrill waited until after the market closed to report a $4.6bn loss in the second quarter and announce asset sales aimed at raising $8bn in much-needed capital.
- #10,880
- Edited 5:12am Jul 18, 2008 5:07am | Edited 5:12am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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