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

  • #146,681
  • Dec 5, 2008 2:56pm Dec 5, 2008 2:56pm
There is a headline on DJ that the US Justice Dept says the Treasury is legally bound to inject capital into the GSEs. As that story was breaking there came reports that the Fed was actually in buying $5bln of agency paper. Stock prices have rallied from down a couple percent to up a couple percent on the news, while Tsy yields have tumbled as race into much higher-yield paper is on. The flight-to-safety flows into the yen and the dollar have reversed as well, with USD/JPY rallying from 92.00 to 93.38 in a little over an hour. EUR/JPY is rallying, dragging EUR.USD up, too, while EUR/CHF is taking a run at the recent trend highs at 1.5530.
The good news is that we finally found a buyer for things most investors have been shunning. The bad news is that the Fed is the buyer. Perhaps they can lead by example. One can only hope.
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  • #146,682
  • Dec 5, 2008 2:57pm Dec 5, 2008 2:57pm
Thanks for the advice, guys.
  • #146,683
  • Dec 5, 2008 2:58pm Dec 5, 2008 2:58pm
Quoting forter
Thanks for the advice, guys.


Good trading bro. . .
  • #146,684
  • Dec 5, 2008 2:59pm Dec 5, 2008 2:59pm
Deal for Automakers and GSE News Helps to Bolster Stocks New York, December 05. Equities have rallied over the past several minutes and the moves have been most impressive considering the very discouraging morning event risk in the form of the 533k NFP number. The rally in US stocks has also helped to bolster currencies across the board against the USD while also rallying the buck against the yen as risk appetite shows a dramatic improvement. News that the broad consensus is now supportive of a deal for the automakers has been attributed for much of these gains. Barney Frank has said this afternoon that they have "been struck by a pretty broad consensus here that something should be done" for the automakers. Frank does concede however that the consensus is by no means a guarantee that a deal will get done, but this doesn"t seem to phase investors. Another headliner that has been helping this afternoon is the news that the justice department says that the Treasury is legally bound to inject capital into the GSEs.
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  • #146,685
  • Dec 5, 2008 3:00pm Dec 5, 2008 3:00pm
Good one Q awesome analysis and good entries. I shorted UJ on the last run lets see where it goes. You are the KING and glad to see you posting again
  • #146,686
  • Dec 5, 2008 3:01pm Dec 5, 2008 3:01pm
Quoting quecee5
Nope - just stare at the computer a lot analyzing this pairs behaviour. . . If you do that for lots of hours you start to see behaviour patterns in GJ!

Also, you gotta think like the market and market makers who control these moves. We are just a pimple on an elephants butt with our small position in the big scheme of things. . .
You told 1h ago that You finish this week .. what happend??
  • #146,687
  • Dec 5, 2008 3:02pm Dec 5, 2008 3:02pm
that was actually exciting..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #146,688
  • Dec 5, 2008 3:02pm Dec 5, 2008 3:02pm
Quoting LukaszH
You told 1h ago that You finish this week .. what happend??
you should be glad he is still around. lol
  • #146,689
  • Dec 5, 2008 3:02pm Dec 5, 2008 3:02pm
Quoting LukaszH
You told 1h ago that You finish this week .. what happend??

I know, I know but I like u guys so I decided to hang out a we bit longer. . .
  • #146,690
  • Dec 5, 2008 3:05pm Dec 5, 2008 3:05pm
Quoting quecee5

I know, I know but I like u guys so I decided to hang out a we bit longer. . .
Would it be advisable to hold shorts over the weekend?
  • #146,691
  • Dec 5, 2008 3:06pm Dec 5, 2008 3:06pm
Quoting vinesh2
Good one Q awesome analysis and good entries. I shorted UJ on the last run lets see where it goes. You are the KING and glad to see you posting again
UJ has been a tough cookie to gage lately it just doesn't respect anything - I guess because it's been in consolidation for awhile and just ranges all over the place.

Anyway, if you have shorted from the top be sure to have tight SL because sometimes it's worst than GJ on it's reverses. . .
  • #146,692
  • Dec 5, 2008 3:10pm Dec 5, 2008 3:10pm
the party is not over, but most important is that everbody has a bullish bias onver the weekend . futures were sold off into the close, so funny monday still is possible
  • #146,693
  • Dec 5, 2008 3:11pm Dec 5, 2008 3:11pm
Quoting forter
Would it be advisable to hold shorts over the weekend?
That you will have to decide for yourself. . .
It really all depends on how far in profit you are and how much you are willing to risk vs. reward. . . Do the math and make a sound decision you won't regret.

Everything comes with a price bro. . .
  • #146,694
  • Dec 5, 2008 3:13pm Dec 5, 2008 3:13pm
very nicely put, thanks!
i was looking at the charts right now, it seems that professional interest has somehow decreased. which means that we might see a (slight?) retracement.

Quoting Dr.Geppynius
good one scrat

test is a downbar preferably low spread, closing in the middle in an area of previous high vol down bars. it means they drove prices down and looked who was willing to jump onto the selling board. since there was less selling, prices could go up and lcose back in the middle. this shows strength- you like to see this after some kind of stopping action, e.g. vol. spikes on wide spread down bars which mean somebody stepped in and bought. big instittuional traders look out for such wide spread downbars to cover shorts..otherwise...
Nihil Sine Deo.
  • #146,695
  • Dec 5, 2008 3:13pm Dec 5, 2008 3:13pm
buys were good this morning below 134


Buy low sell high I love that basic principle
  • #146,696
  • Dec 5, 2008 3:13pm Dec 5, 2008 3:13pm
Quoting Dr.Geppynius
the party is not over, but most important is that everbody has a bullish bias onver the weekend . futures were sold off into the close, so funny monday still is possible
i'm not. not yet
  • #146,697
  • Dec 5, 2008 3:15pm Dec 5, 2008 3:15pm
Quoting Scrat
very nicely put, thanks!
i was looking at the charts right now, it seems that professional interest has somehow decreased. which means that we might see a (slight?) retracement.

Yep should be good for 100 or so at least before they step into it again
"Millionaires don't use astrology, billionaires do"
  • #146,698
  • Dec 5, 2008 3:16pm Dec 5, 2008 3:16pm
i think it retraces back to dp and perhaps will act as support..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #146,699
  • Dec 5, 2008 3:17pm Dec 5, 2008 3:17pm
Quoting Dr.Geppynius
the party is not over, but most important is that everbody has a bullish bias onver the weekend . futures were sold off into the close, so funny monday still is possible
  • #146,700
  • Dec 5, 2008 3:18pm Dec 5, 2008 3:18pm
Quoting pkimnyc
i'm not. not yet
i wasn't meaning the guys of our little elitist round

mainly for all those investors watching cnbc and haveing a happy weekend now, seeing the light at the end of the tunnel. i even read on cnbc website some statement like "declining jobless claims, signs of bear market end" -LOL

i'm smelling the prophecy coming true on the moe-monday, of all of the last 4 selloff days into the futures session end, this was the biggest. not just crashing markets, no even driving them up before the weekend. greedy ()U$§)($U specialists
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