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  • #35,861
  • Oct 1, 2008 7:14pm Oct 1, 2008 7:14pm
apperently big boys dont give a sh#%$°!" about this bailout anymore... they simply jumped out of the ship after knowing naked short selling ban going to be extended
  • #35,862
  • Oct 1, 2008 7:16pm Oct 1, 2008 7:16pm
Doesn't look like it will spike back.



Quoting psiholog
i see 1.4050 as a high posibility but it could be a real move up haha...or just drop straight down...personally i will be flat if this descend continues....its like trying to catch a falling knife..no clear bottom...no indication to where it might reverse...
  • #35,863
  • Oct 1, 2008 7:19pm Oct 1, 2008 7:19pm
Quoting SeaPip
Doesn't look like it will spike back.
you want to gamble go ahead but before you do...tell me...other then the bearish sentiment we have these days...why would you enter the market now?...how do you know that the vote will even pass?....after monday im 50/50...i was up 90 pips shorting on one trade...it turned into a 3 consecutive 40 pip trades that i lost...i do not want to repeat that
Different opinions highly valued, ignorant to slander.
  • #35,864
  • Oct 1, 2008 7:19pm Oct 1, 2008 7:19pm
Alright guys... THIS IS IT! It's make or break for the EUR/USD.

The bottom bound of an uptrend is between 1.3850-1.3900, and the 50% Fib on the upmove from Aug 05- June 08 is at 1.3857.

I still believe it will all hold. Thoughts?
  • #35,865
  • Edited 7:35pm Oct 1, 2008 7:21pm | Edited 7:35pm
Quoting ak4x
Mike, you'd have loved this... Jeff Macke on Fast Money, (the shaved head guy) has a big dollar long position. The moderator guy asks him "How do you justify that with all the threat in the news against the dollar... How can you hold that position?"

Jeff holds his hands over his ears, and says "I don't listen to it, cuz sure the dollar is screwed up, sure we're screwed up, but the rest of the world is even more screwed up. So I'm dollar long."

I know... I'm preachin to the choir.

And the attached M1 chart may show why he is short the eurodollar. Price ran up from pinch to key 162% level area and is now in strong (steep) pullback. Price has already vilolated the basis and is challanging trendline....though this event surely preceeded his position entry. Price 1.3666 area is support too.....about 300 pip range between between trendline break and 1.3666 area. This 300 pip area could be a good short trade maybe if we get the trendline break....which may be in the process, especially if it starts to move strongly down again in response to what the House does after the Senate's Circus.
Attached Image (click to enlarge)
Click to Enlarge Name: eurodollar m1 10-01-08.gif Size: 57 KB
  • #35,866
  • Oct 1, 2008 7:22pm Oct 1, 2008 7:22pm
those crazy people that say pivots work...
Attached Image
FUBAR...
  • #35,867
  • Oct 1, 2008 7:22pm Oct 1, 2008 7:22pm
Quoting falcon232
Alright guys... THIS IS IT! It's make or break for the EUR/USD.

The bottom bound of an uptrend is between 1.3850-1.3900, and the 50% Fib on the upmove from Aug 05- June 08 is at 1.3857.

I still believe it will all hold. Thoughts?
I would like to....
it's a very strong support... could try a fake breakout?.... don't enter in the storm...
  • #35,868
  • Oct 1, 2008 7:22pm Oct 1, 2008 7:22pm
I think blackjack has slightly better odds right now...it's a crapshoot...hold on to the trigger finger and wait until 30 min after the news...remember...missed money is better than lost money...
  • #35,869
  • Oct 1, 2008 7:24pm Oct 1, 2008 7:24pm
Quoting falcon232
Alright guys... THIS IS IT! It's make or break for the EUR/USD.

The bottom bound of an uptrend is between 1.3850-1.3900, and the 50% Fib on the upmove from Aug 05- June 08 is at 1.3857.

I still believe it will all hold. Thoughts?
I think the bulls buggered off on the 8th August.
  • #35,870
  • Oct 1, 2008 7:25pm Oct 1, 2008 7:25pm
Quoting ragu
I think blackjack has slightly better odds right now...it's a crapshoot...hold on to the trigger finger and wait until 30 min after the news...remember...missed money is better than lost money...
indeed....especially when you see this...it could spike up in the next 40minutes at any time

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 29 KB
Different opinions highly valued, ignorant to slander.
  • #35,871
  • Oct 1, 2008 7:25pm Oct 1, 2008 7:25pm
vote start as blomberg just say 7.30 ET
  • #35,872
  • Oct 1, 2008 7:25pm Oct 1, 2008 7:25pm
Quoting psiholog
of course...it takes great discipline to be a currency trader...i see this as nonsense chatter before the actual vote...or rather "buying the rumor"...once the facts come out well get the real picture...until then im not buying into this nonsense

takes real balls to sit and wait it out. props to you. i scalped a bit and basically broke even >.<
  • #35,873
  • Oct 1, 2008 7:26pm Oct 1, 2008 7:26pm
Quoting iiivb
cya in hell eurusd...
Maybe until the 400B Euro zone bailout talks in France on the weekend anyways
  • #35,874
  • Oct 1, 2008 7:28pm Oct 1, 2008 7:28pm
3 more votes before the VOTE as per Bloomberg TV
  • #35,875
  • Oct 1, 2008 7:29pm Oct 1, 2008 7:29pm
Quoting spathi
i dunno..the news still another hour to go.. i'll wait.
(In response to a post Hours ago. So I will remove ALL Current input from the response. ) Depends how deep your pockets are. Can you sustain a Drop to ~ 1.360x? If so, Now "may be" {acumen} is the time to Buy.

Explanation:
There is justified argument for....
Drop to1.36~
Rise to 1.43~

Right now my bias is toward the Down Side BUT, that could change in less time than it takes to put this post on the board.

Therefore: When I do not have a Definative Direction of a particular Pair, I simply, do not Trade it. {Haven't for more than a week or so but feels like a year +... Love that Been there, Done that EXPERIENCE}

Again, Kudos to ALL who have been WISE/LUCKY enough to reap some pips from this Bear Run but {at this time} I feel you are being sucked into a Buying Opportunity for the likes of Carlisle & Haliburton's Swan Song.

Guard your money for there are Wolves afoot.

{Prediction}
There is a HUGE Spike North afoot and I wish that you can avoid it.
  • #35,876
  • Oct 1, 2008 7:29pm Oct 1, 2008 7:29pm
Quoting traderathome
And the attached M1 chart may show why he is long the eurodollar. Price ran up from pinch to key 162% level area and is now in strong (steep) pullback. Price has already vilolated the basis and is challanging trendline....though this event surely preceeded his position entry. Price 1.3666 area is support too.....about 300 pip range between between trendline break and 1.3666 area. This 300 pip area could be a good short trade maybe if we get the trendline break....which may be in the process, especially if it starts to move strongly down again in response to what the House does after the Senate's Circus.
I don't think he is long the euro/dollar, unless I misunderstood what they were talking about at the time.
  • #35,877
  • Oct 1, 2008 7:30pm Oct 1, 2008 7:30pm
Dont get caught up in this washing machine.
Markets are erratic choppy and thin.
Sure they are dumping Euro's on hope of euphoria of a Yea vote !
Once all the dust settles the investor will realise that the U.S. is still in deep trouble.
One senator was said this vote will free up credit.. College students can now get credit cards, car loans, personal loans...
Fck me.. How much does it take to get through to them !
They are living beyond their means which has caused this problem.

Watch the world take note.
They have been caught off guard and exposed.
Watch the currency hoarding go through as countries limit credit expansion.
That means demand for USD will wane overtime.
  • #35,878
  • Oct 1, 2008 7:31pm Oct 1, 2008 7:31pm
Quoting traderathome
And the attached M1 chart may show why he is long the eurodollar.
Just to clarify, he's not long the Eurodollar (that I'm aware of), he's long the dollar, and I have no idea in what instrument, but I'm fairly certain it's not in the FX market...
FUBAR...
  • #35,879
  • Oct 1, 2008 7:34pm Oct 1, 2008 7:34pm
Quoting bigandrich
I don't think he is long the euro/dollar, unless I misunderstood what they were talking about at the time.
You are ABSOLUTELY CORRECT! And I meant to say "short"!!!!! I will immediately go back and correct this. Thank you!!!!!!!
  • #35,880
  • Oct 1, 2008 7:35pm Oct 1, 2008 7:35pm
Quoting ak4x
Just to clarify, he's not long the Eurodollar (that I'm aware of), he's long the dollar, and I have no idea in what instrument, but I'm fairly certain it's not in the FX market...
dollar index? possibly but NOT eurodollar
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