Auslanco - GBP/JPY and GBP/USD (newstrade)

Thank you for the link, I really don't know what actually is happening right now. I will just take the gamble I made and hope for the best. If I loose, it is a loss that I can manage since it is only a very small bet.

Orca

i thought so too, but after a while i realized that they close at the same time as everyone on friday (10 p.m. gmt), and then price starts moving again 2 hours before market opening (8 p.m. gmt). so i don't know about how oanda is open over the weekend.
as for the pending sell order, the spread is 20 pips... just thought i should mention. but please disregard my comment if you already knew.

Price is currently at 193.55

http://money.cnn.com/data/currencies...tes/index.html

This is the most accurate source IMO

but when we use the calculator http://money.cnn.com/data/currencies...ter/index.html the values are different

1.00
British Pound
= 191.55
Japanese Yen

Thank you for your reply malcolmb
i really appreciate it
i am really not good with fundamentals
so i wanted help here


i am really very thank ful to makram, karmo, malcolmb, hussain naji, and soo many great traders here

Tenfore.com shows 192.23.

I'm SOOO confused!! Why isn't there a single reliable source for weekend prices!

Because every broker can set their own price theoretically. The price is only "standard" when the market is open.

Now I am seeing price at 192.23, based on information from these 2 links:

http://www.forex-markets.com/quotes.htm

http://forex.tradingcharts.com/quote...=gbpjpy&tz=GMT

A deal has been drafted to buy Lehman Brothers' bad assets and clear the way for an eventual sale of the troubled firm, CNBC has learned.
Under the terms of the proposal, which could still blow up, all the major Wall Street firms would pitch in $30 billion total to purchase Lehman's bad real estate assets and create what's knows as a "bad bank."The proposal is being drafted Saturday night and will be discussed Sunday morning, according to sources close to CNBC. If Wall Street agrees on the terms, which would amount to around $3 billion per firm, it would clear the way for the sale of Lehman Brothers itself to one of several suitors, including Bank of America, Barclays Plc and HSBC.
Executives remained less than pleased with the proposal as they left the New York Federal Reserve around 6 p.m. to convene again Sunday morning. Contingency planning for no deal getting done, potential bankruptcy and defaults continues as Lehman continues its search for a buyer.
"Why should we give up capital so Barclays and Bank of America can buy a clean bank," said one Wall Street executive.
Despite the grumbling, those in the know expect the deal to get done Sunday, with Barclays in the lead to buy the rest of Lehman, including Neuberger. No price has been set just yet.
One Wall Street executive involved in the meetings put it this way: "I'm thinking logically; if they do nothing it's Armageddon. That means they do a deal. It will be announced at 6 p.m. (ET) Sunday."
Most people think the deal will come together sometime between 2 p.m. and 4 p.m. ET Sunday, though the structure is fluid, so the deal could change.

Barclays, along with Bank of America, HSBC and private equity firms have all expressed interest in purchasing Lehman Brothers, though far below the $70 share price that Lehman enjoyed earlier in the year.
Executives from these outfits have met with company officials who began to shop the firm after it became clear that a recent plan to add more capital wouldn't be enough to strengthen the firm, which holds around $40 billion in bad real estate assets on its books.

But with firms like Bank of America and Barclays refusing — at least so far — to budge on their position that they will only buy Lehman without the beaten down real estate assets, and the street balking on the government plan, which calls on the big firms to chip in a total of around $3 billion to purchase the Lehman assets, people with direct knowledge of the meeting say a deal may not get done.

Another problem: officials from the Federal Reserve and the Treasury were holding fast to their position that the government won't guarantee any of Lehman's bad assets, as they did with Bear Stearns, a move that allowed JP Morgan to purchased that troubled brokerage firm in March.But the Fed's stance might soon soften — as might the position of Wall Street — because the consequences are so dire.
Without a deal, many market analysts predict Lehman will have to file for bankruptcy. Already, there is a near uprising at the firm. Top executives are saying they won't show up to work on Monday. It's unclear if other firms on the Street will continue to trade with Lehman and if Lehman can get loans from major financial players to fund its operations.

Making matters worse, if Lehman does file for bankruptcy, top Wall Street executives involved in the meetings with government officials say they fear another financial firm may be next. All eyes have been on Merrill Lynch, which, despite a recent plan to strengthen its balance sheet, still has exposure to bad assets.
Merrill, of course, is much more diversified firm than Lehman. It has the largest brokerage salesforce of any Wall Street firm, and a major investment in money management powerhouse, Blackrock.



http://www.cnbc.com/id/26691041

Unless the federal government is actually taking those crap assets, there is no way that anybody is going to put their money into any kind of Lehman deal.

Of course, I am quite confident that there will be some sort of secret deal to screw the american public, and this deal will be finalized in the next six hours.

its funny, how the american tax payer is gonna get f-ed in this senerio .. i know it would be bad for the market, and a few on this board, but i would love to see the fed and others let this bank fail .. just to teach a lesson ..

its almost pointless to even look at this point ... one of two things is going to happen ..

if the lehman deal gets done before open then this thing will see a very nice gap up. maybe 100 pips ...

if no deal gets down before open, then it will see a very massive gap down, probably in the order of 200 to 350 pips off friday close ...

Bingo. GJ to 200

Opened google finance first page and this is what I see.

http://www.bloggingstocks.com/2008/0...or-bankruptcy/

let me state upfront for those who don't read it, it is not fact!!!! It is an opinion

either way.....could be a gap down.....as bloomberg is stating the deal is "supposed" to happen between 2-4pm EST but will not be reported until 6PM est....

please correct me if i am wrong

i completely agree with you on this, markam. and yes, the deal will be finalized BEFORE markets open today.

LOL I guess we've learnt quickly.

But why are the Germans crying too?

"Germany's finance minister appealed for a resolution before Asian markets opened Monday, and more discussions involving officials from the Federal Reserve and Treasury Department were expected."

[IMG]file:///C:/DOCUME%7E1/Mark/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]

How screwed up is this? Futures trading opened early, and oil, gasoline and natural gas are all down big. This is at at a time that all oil and gas production in the gulf is shut down, the southeast is out of gasoline, and texas refineries may be down for a month.

Sometimes I am amazed beyond belief at the things that happen. I am 100% sure the Lehman fix is in.

Apparently the spot market for gasoline is now trading $1.50 above the futures markets. That is unprecedented. The only possible explanation is massive market manipulation of the paper market.

i guess this means a gap up on g-j.