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  • #34,661
  • Sep 26, 2008 3:42pm Sep 26, 2008 3:42pm
Quoting FX-Petra
I know it is popular to call all the banks "greedy" and blame them for this mess, but please familarize yourself with the Community Reinvestment Act passed by Congress and signed into law by President Clinton in 1995. If you do, you will see this mess is, as almost always, rooted in politics...not our free market system. Congress started us down this crazy road, and now they have to deal with it...at taxpayer expense!
I know there are plenty of places to put blame.

That wasn't my point.
  • #34,662
  • Sep 26, 2008 3:53pm Sep 26, 2008 3:53pm
Quote
(CEP News) - As Republicans and Democrats battle over details of the bailout package, Fed funds futures are pricing in a 68% chance of a 25 bps cut and a 32% chance of a 50 bps cut for the next Federal Reserve meeting scheduled for October 29.

Led by Roy Blunt, House Republicans have agreed to return to the negotiating table on Friday to salvage legislation geared at saving the financial system in the United States.
More...http://www.economicnews.ca/cepnews/wire/article/127140

Rate drop is good for Wall St and credit market debt, but not for USD. I think Bernanke will drop 25 bps next week, ahead of FOMC meeting. Something to factor into your trade plan.
  • #34,663
  • Sep 26, 2008 4:39pm Sep 26, 2008 4:39pm
Quoting bigandrich
My only question with the hype of some type of bailout being basically gauranteed by both parties, as soon as Sunday, why is the EUR being weighted down? Given your scenerio I would think we would be trending higher near a resistance level, waiting to explode.
Nothing happens that easily. That's why timing is everything unless you are a longer term fundamental trader.
  • #34,664
  • Sep 26, 2008 4:40pm Sep 26, 2008 4:40pm
Quoting FXoffshore
Rate drop is good for Wall St and credit market debt, but not for USD. I think Bernanke will drop 25 bps next week, ahead of FOMC meeting. Something to factor into your trade plan.
Dallas Fed said stability is needed now.
  • #34,665
  • Sep 26, 2008 4:42pm Sep 26, 2008 4:42pm
Quoting FX-Petra
I know it is popular to call all the banks "greedy" and blame them for this mess, but please familarize yourself with the Community Reinvestment Act passed by Congress and signed into law by President Clinton in 1995. If you do, you will see this mess is, as almost always, rooted in politics...not our free market system. Congress started us down this crazy road, and now they have to deal with it...at taxpayer expense!
Who told oyu that Rush Limbaugh? Why don't you find us the facts to support your comments.
  • #34,666
  • Sep 26, 2008 5:10pm Sep 26, 2008 5:10pm
Quoting TIckerShuffl
Who told oyu that Rush Limbaugh? Why don't you find us the facts to support your comments.
My opinion is no more valid than yours. What my opinions are I will keep to myself. When it comes to FORX you may want to look to your left. The road we travel economically has been paved with politics and greed. If you do study anything on this mess start in the early 1900's:nerd: Have a good weekend:>
  • #34,667
  • Edited 5:33pm Sep 26, 2008 5:20pm | Edited 5:33pm
This short piece was taken from the Financial Times, just to remind ourselves about the complexity of the financial situation that the world is currently facing.


Investors around the world held their breath on Friday as the US government’s $700bn rescue plan struggled in the face of opposition from congressional members of President George W. Bush’s own Republican Party.
Stocks fell in Asia, Europe and in early US trading as markets, already stunned by the collapse of Washington Mutual, the largest US savings and loan group, fretted about the delay. Money markets remained under severe stress and the commercial paper market used by many companies to fund their business operations was largely frozen.
Bankers warned of a much more catastrophic response if it looked as though the deal would actually fail.
  • #34,668
  • Edited 5:48pm Sep 26, 2008 5:37pm | Edited 5:48pm
Quoting SunTrader
Banjos sound cool but I hope there is no shotgun wedding to a toothless woman or the other end, ahem, of the spectrum being stuck like a pig by Jethro.

Hey Sun, probably too late for you to see this before you leave... but we'll be thinkin of ya. And if you're not back in a couple weeks, we'll name a thread after ya.

http://www.maniacworld.com/squirrel-vs-penguin.htm
Attached Image
FUBAR...
  • #34,669
  • Sep 26, 2008 5:47pm Sep 26, 2008 5:47pm
Quoting FXoffshore
I think Bernanke will drop 25 bps next week, ahead of FOMC meeting.
I think not. The way I read it 68% chance of a 1/4% cut also means 32% chance of no cut and 50/50% chance of a 1/2% cut.

And regardless of size of possible cut unless you are right about a surprise next week, October 29th is a long way away from here so Fed Funds Futures can change any number of ways before then.
  • #34,670
  • Sep 26, 2008 5:54pm Sep 26, 2008 5:54pm
Quoting ak4x
Hey Sun, probably too late for you to see this before you leave... but we'll be thinkin of ya. And if you're not back in a couple weeks, we'll name a thread after ya.

http://www.maniacworld.com/squirrel-vs-penguin.htm
Dueling banjos ringtone. Kewl. Now where is that smiley with 3 teeths?

Actually will be on the road early Sunday Morning.
  • #34,671
  • Sep 26, 2008 6:01pm Sep 26, 2008 6:01pm
Quoting ak4x
Hey Sun, probably too late for you to see this before you leave... but we'll be thinkin of ya. And if you're not back in a couple weeks, we'll name a thread after ya.

http://www.maniacworld.com/squirrel-vs-penguin.htm

Wow, that is fantastic, a nice close of the week, thanks.

Nice weekend to everybody and have a good trip Sun


BTW, I love that movi
  • #34,672
  • Sep 26, 2008 6:51pm Sep 26, 2008 6:51pm
Quoting TIckerShuffl
Who told oyu that Rush Limbaugh? Why don't you find us the facts to support your comments.

Community Reinvestment Act

and more...
  • #34,673
  • Sep 26, 2008 8:00pm Sep 26, 2008 8:00pm
Quoting Foreyes
I'm from the US and believe there is some fear that our problems may not be completely specific to the "States."
US Corporations may not be alone in being greedy, or in issuing and holding bad loans, debt, etc. It is however pretty much out in the open for all to see.

I sincerely hope this debacle has been contained here in the US.
This shouldn't be a "US versus the Euro-zone" (or visa versa) type of thing.
I do tend to root for currencies based on whether I'm long or short at the time, but economic world wide chaos will be bad for all of us.

I'm not saying I wouldn't trade it, but in the big picture, it ultimately will not be worth the pips.

Jim
Many of you are too young to have Owned your own Business for a number of years {other than Trading}. But if you ask the Old Guys who have owned thier own, you will hear the old adage. "Know Your Competition. All of Them." For some will be Allies and others will be A$$holes.

"Sorry Sir, Too Busy to meet your Deadline. Why don't you call 'XYZ' and ask for Frank. Tell him I referred you & I'm sure he will give you a break."
The reason you consider 'XYZ' a friend is because you know he does good work & will not Gouge the customer. Leaving Your Business with some free advertising & goodwill.

Obviously, to maintain a system like this, you would have to meet Frank on a regular basis to ensure that you & he were still on the same page.

Governments {not Administrations} have been doing this for centuries. What do you think they discuss @ 'G-' meetings.

POINT.
Euro does not want to & will not Crush the USD. They are Allies against Asia winning the rights to Global Currency.

"Hey Frank, Bill here. We had a fire @ our shop & things are gonna be a little bit dicey for a while. Can you do me a favour? I know you could jack the prices but I'm asking you to keep some stability In The Market until we can get back on line.
ps. Thanks for the trip to the North Country {friggin canadians think they can be players in Our business. Makes me think of a Western Switzerland}. (that's another story).
The Fishing was Arm Bustin' and the views just flat out laid me on my back. Say 'Hi to Ashley & the kids from June & I."

Till next time...
Your friend, Bill

{that's the 'B' in Bemac}
  • #34,674
  • Sep 26, 2008 8:49pm Sep 26, 2008 8:49pm
Here's a Heiken Ashi setup I made to have an overview for the overall trend. The average span covered is written on each chart.

It is easy to see that at the present moment there is no real "trend" as such, practically all charts and time spans show a huge sideways move. The slightly uptrend on the week (H4) is balanced by the slightly downtrend on the day (M30-H1) so we end up with a sideways market.

You can compare with the beginning of the month, where all charts were showing a clear downtrend.

I am enclosing the profile (copy the whole folder into the "profiles" folder of your MT4) if you find it of interest, as well as Heiken Ashi indicator which comes with the platform usually but just in case you don't have it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: heikenaken.PNG Size: 76 KB
Click to Enlarge Name: heikenaken-sept.PNG Size: 71 KB
Attached File(s)
File Type: zip MULTI_HEIKEN.zip   5 KB | 384 downloads
File Type: mq4 Heiken Ashi.mq4   4 KB | 317 downloads
  • #34,675
  • Sep 26, 2008 10:07pm Sep 26, 2008 10:07pm
Quoting TIckerShuffl
Who told oyu that Rush Limbaugh? Why don't you find us the facts to support your comments.
I do not want to detract from this thread, so this will be my last post on the topic. I can read the CRIA passed in 1995. Also, my brother works as a loan officer in California and he started tellling me in 2001 that they were making mortgage loans to people who were, at some point, going to have trouble paying them back. He said they were forced by the CRIA to make a certain % of their loans to people who fit this critera. Maybe he was giving me b.s., but I find it hard to belive that banks just decided to start giving 100% LTV no doc loans without a push from somewhere.
  • #34,676
  • Sep 27, 2008 1:18am Sep 27, 2008 1:18am
The COT Chart for EUR clearly proclaims a major uptrend coming soon.

Have fun.
Attached Image (click to enlarge)
Click to Enlarge Name: index.php.png Size: 67 KB
  • #34,677
  • Sep 27, 2008 4:08am Sep 27, 2008 4:08am
Quoting forexlion
The COT Chart for EUR clearly proclaims a major uptrend coming soon.

Have fun.
I have been looking for a good source for COT (for all majors), may I ask where did you find that excellent chart?
  • #34,678
  • Sep 27, 2008 4:27am Sep 27, 2008 4:27am
Quoting bigandrich
My only question with the hype of some type of bailout being basically gauranteed by both parties, as soon as Sunday, why is the EUR being weighted down? Given your scenerio I would think we would be trending higher near a resistance level, waiting to explode.
It's just taking a break as I see it, moves don't happen all at once..
http://www.forexfactory.com/showpost...ostcount=34484
Quoting mikkom
I have been looking for a good source for COT (for all majors), may I ask where did you find that excellent chart?
Not sure how good they are, but try this:
http://timingcharts.com/index.php
On the path to Enrichment.
  • #34,679
  • Sep 27, 2008 4:34am Sep 27, 2008 4:34am
AS i guess will be weak

stop 1.4672 OR 1.4772
  • #34,680
  • Sep 27, 2008 4:41am Sep 27, 2008 4:41am
Quoting forexlion
The COT Chart for EUR clearly proclaims a major uptrend coming soon.

Have fun.
Major ?
I would rather say minor, only correction move after this bullflag will be broken.
Higher the better for bears.Major lower target hasnt been hit yet ~1.27.
Also there is a chance to see 1.05 in 2-3 years. Yearly candle is bearish so far.
If this candle will close below 14953 at the end of the year we have got a change of long term trend.


Have a nice weekend everyone.
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