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  • #33,621
  • Sep 24, 2008 8:57am Sep 24, 2008 8:57am
Quoting Dl1982
Is it possible to hear what Bernanke says when he speaks at 7 this morning?
On CNBC
  • #33,622
  • Sep 24, 2008 9:07am Sep 24, 2008 9:07am
psychology 101. this homes sales data is good! any bad us data supports bernanke/paulson/bush and their bailout plan because we are reminded just how bad the economy is. currently short bias....just my 2cents people
Different opinions highly valued, ignorant to slander.
  • #33,623
  • Sep 24, 2008 9:12am Sep 24, 2008 9:12am
Quoting psiholog
psychology 101. this homes sales data is good! any bad us data supports bernanke/paulson/bush and their bailout plan because we are reminded just how bad the economy is. currently short bias....just my 2cents people

I hope your right man, i've been short since 1.472xx... it was going good... until that stupid home sales came out and the euro shot up 10pips. Im still ganna hold on to my short position though.

Are you in any trades?>
  • #33,624
  • Sep 24, 2008 9:12am Sep 24, 2008 9:12am
its still working.. I was afraid because I didnt put S/L
Money often costs too much...
  • #33,625
  • Sep 24, 2008 9:12am Sep 24, 2008 9:12am
Quoting psiholog
psychology 101. this homes sales data is good! any bad us data supports bernanke/paulson/bush and their bailout plan because we are reminded just how bad the economy is. currently short bias....just my 2cents people
True and foreign central banks and investors still trust US markets.
They think they are smarter than I am.
  • #33,626
  • Sep 24, 2008 9:13am Sep 24, 2008 9:13am
Quoting psiholog
psychology 101. this homes sales data is good! any bad us data supports bernanke/paulson/bush and their bailout plan because we are reminded just how bad the economy is. currently short bias....just my 2cents people
agreed. x2
not that you guys need my opinion.
  • #33,627
  • Sep 24, 2008 9:13am Sep 24, 2008 9:13am
ouch, this wasn't good for the US
but why EUR/USD stopped, shouldn't it go more up ?

anyway I'm short and hope it stops right there and go down

...it went while I write, hope will went more down
  • #33,628
  • Sep 24, 2008 9:13am Sep 24, 2008 9:13am
Quoting Praafit
I hope your right man, i've been short since 1.472xx... it was going good... until that stupid home sales came out and the euro shot up 10pips. Im still ganna hold on to my short position though.

Are you in any trades?>
yep same trade i showed in my charts....i saw how hard it was for the pair to go up....so much resistance....it should be a freefall next...thats my gauge of the current sentiment
Different opinions highly valued, ignorant to slander.
  • #33,629
  • Sep 24, 2008 9:15am Sep 24, 2008 9:15am
Quoting kasper
care to backup your statement? I dont see it on the charts. >.< ... I read the statement after [RE: weakening EU economies and potential rate cut], still, the technicals dont show it, unless i'm looking wrong. I'm looking at Daily charts.
I'm wicked smart.
  • #33,630
  • Sep 24, 2008 9:16am Sep 24, 2008 9:16am
actually there was good comments about the home drop heee

"Even with a bigger loss than expected, the range in the past 11 months has been relatively narrow, according to the National Association of Realtors (NAR)."

CEP NEWS
  • #33,631
  • Sep 24, 2008 9:16am Sep 24, 2008 9:16am
4623 yesterday's low should be a good target eventho price now at MA sup 50/100 15 m( might bounce a bit ) but I will take my chance.. if break then 4550/4560 MA 200 supp should hold the bear..
Money often costs too much...
  • #33,632
  • Sep 24, 2008 9:18am Sep 24, 2008 9:18am
Quoting kasper
care to backup your statement? I dont see it on the charts. >.< ... I read the statement after [RE: weakening EU economies and potential rate cut], still, the technicals dont show it, unless i'm looking wrong. I'm looking at Daily charts.

Kasper,

acumen correct me if i am wrong, charts trends indicators etc are all LAGGING indicator..

which means if for some reason, US econ. is fixed NOW, the charts etc will only reflect it much later.. so u cant see it...

for both us, we are basing this more on a macro economy view.. IE, Fundamental A. not Techincal...
  • #33,633
  • Sep 24, 2008 9:19am Sep 24, 2008 9:19am
Quoting gamemorph
ouch, this wasn't good for the US
but why EUR/USD stopped, shouldn't it go more up ?

anyway I'm short and hope it stops right there and go down

...it went while I write, hope will went more down
Okay, I just so happen to be home today, so this is my first time watching this speech on CNBC. I'm short, so I'm happy right now but I will be honest, I'm totally confused. If this is not good for the dollar and the news came out worse and they are pushing hard for the bailout, why did the pair go down? I thought the pair goes down when the dollar is getting strong but it seems to me that all of this was bad news for the dollars so why did it fall rather than rise? Can someone please clear this up for me.
  • #33,634
  • Sep 24, 2008 9:20am Sep 24, 2008 9:20am
that the way i c it.becarefull we r in a very tricky zone.only scalp!
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  • #33,635
  • Sep 24, 2008 9:20am Sep 24, 2008 9:20am
Quoting trading801
Kasper,

acumen correct me if i am wrong, charts trends indicators etc are all LAGGING indicator..

which means if for some reason, US econ. is fixed NOW, the charts etc will only reflect it much later.. so u cant see it...

for both us, we are basing this more on a macro economy view.. IE, Fundamental A. not Techincal...
I understand that. It was a question of if the basis of the statement was purely fundamental or did it have some support from the technical analysis. I try to avoid fundamentals if at all possible, although I know that right now this pair is all about fundamentals.
  • #33,636
  • Sep 24, 2008 9:22am Sep 24, 2008 9:22am
Quoting schandi
if you consider yesterdays high and lows you are correct we are at the 62% fib, but if you back one more day and trace high from there, we are at the 50% fib. You say short, phisolog say long. Two great guys both going in different directions.
Psiholog says long but he's got a sell (he calls it a gamble) that's made him 50 pips so far.
Up or down, gimme a ticket
  • #33,637
  • Sep 24, 2008 9:25am Sep 24, 2008 9:25am
Quoting SpecialEd
Psiholog says long but he's got a sell (he calls it a gamble) that's made him 50 pips so far.
lol i was long earlier....then i switched to sell when i saw the long wasnt going anywhere


i will repeat one more time why the dollar got stronger just now....read my post about market psychology...it doesnt have to make sense its just how the market makers interpret the data

as far as how low will the pair go now...to be seen

this week's fibs have held up good...the 61.8% level combined with the upper wall of the ascending triangle we broke out of sunday still holds...we break that support....massive freefall from there
Different opinions highly valued, ignorant to slander.
  • #33,638
  • Sep 24, 2008 9:28am Sep 24, 2008 9:28am
Quoting psiholog
lol i was long earlier....then i switched to sell when i saw the long wasnt going anywhere


i will repeat one more time why the dollar got stronger just now....read my post about market psychology...it doesnt have to make sense its just how the market makers interpret the data

as far as how low will the pair go now...to be seen

this week's fibs have held up good...the 61.8% level combined with the upper wall of the ascending triangle we broke out of sunday still holds...we break that support....massive freefall from there
I was just pulling your chain man. Good comments. Go back to sleep.
Up or down, gimme a ticket
  • #33,639
  • Sep 24, 2008 9:30am Sep 24, 2008 9:30am
Quoting SpecialEd
I was just pulling your chain man. Good comments. Go back to sleep.
i slept all day yesterday and half the night....now this cofee is making me hyper and im out of cigs...lol sorry

i just closed my position...bernanke is talking and i want to protect my gains...will reenter if todays support gets broken...maybe

crude oil data is also good for dollar....darn my 15min rule of waiting between trades =(
Different opinions highly valued, ignorant to slander.
  • #33,640
  • Sep 24, 2008 9:44am Sep 24, 2008 9:44am
Quoting kasper
I understand that. It was a question of if the basis of the statement was purely fundamental or did it have some support from the technical analysis. I try to avoid fundamentals if at all possible, although I know that right now this pair is all about fundamentals.
If there wasn't a belief in the US dollar or the US economies resiliency this pair would be making new highs.

Last week we came as close as we've ever come to an systemic financial collapse and the best this pair could do was a .38 retrace since the move on 8.8.08.

The data out of the zone continues to show serious weakness. There will be cut... not if... but when.

Today's EHS was within range. (Translation - we are most likely witnessing the bottom of the housing market)

Lot's of noise this week but even if we are going higher I'll need to see a double bottom.
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