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  • #52,501
  • Dec 26, 2008 1:00pm Dec 26, 2008 1:00pm
Quoting gatorinla
japan, china, india, and mexico are gonna move all their manufacturing to u.s. because of the cheap labor here.
Yes they will. It's already started.

http://articles.latimes.com/2008/may...i-chinainvest5

"About the only major thing that’s more expensive in Spartanburg is labor. Liu is looking to offer $12 to $13 an hour there, versus about $2 an hour in Dongguan, not including room and board."

Two things could happen over time. The Yuan could gain and the USD lose to a point that it would be chump change to buy USD to cover the payroll. The second is that with a high unemployment rate, people might settle for a lower pay. Probably not at $2/hour but much lower.
Not all sins are created equal
  • #52,502
  • Dec 26, 2008 1:03pm Dec 26, 2008 1:03pm
Quoting knuckledrag
How late on Friday are you willing to open a new trade?
Scary, isn't it. PA has consistently been pumped. Each time it drops, it gets rammed back up. But its pattern on the 5 chart is H-L-LH-.......

Are they pumping it to short it thru the vacation low volume period, when their antics meet with little resistance? Are we going to see a gap down on the next session open?

Questions, questions. But on this lower TF chart, it has the look of a "put up" job, one that could be manipulated into a collapse at any time.....
  • #52,503
  • Dec 26, 2008 1:12pm Dec 26, 2008 1:12pm
Quoting traderathome
Scary, isn't it. PA has consistently been pumped. Each time it drops, it gets rammed back up. But its pattern on the 5 chart is H-L-LH-.......

Are they pumping it to short it thru the vacation low volume period, when their antics meet with little resistance? Are we going to see a gap down on the next session open?

Questions, questions. But on this lower TF chart, it has the look of a "put up" job, one that could be manipulated into a collapse at any time.....
You may be reading this right, but for me it looks as likely to break up as down. Freaky Friday is tooooooo freaky for me. I plan to stay flat on this pair though the weekend.
  • #52,504
  • Dec 26, 2008 1:17pm Dec 26, 2008 1:17pm
Quoting knuckledrag
You may be reading this right, but for me it looks as likely to break up as down. Freaky Friday is tooooooo freaky for me. I plan to stay flat on this pair though the weekend.
Safe plan. Only if it breaks down long candle/momentum might a quick scalp be considered....and keeping in mind the last drop was 80 pips from high, and the 1.400 is about that much below the current lower high area of, what? .....1.4087....guess we need to wait for them to finish this latest pump to get a current lower high.
  • #52,505
  • Dec 26, 2008 1:20pm Dec 26, 2008 1:20pm
E$ 30 chart .....looks like top of Right Shoulder in H & S formation is being made now......

Edit: This would have a target of 1.3973 area.
  • #52,506
  • Dec 26, 2008 1:29pm Dec 26, 2008 1:29pm
Quoting traderathome
E$ 30 chart .....looks like top of Right Shoulder in H & S formation is being made now......

Edit: This would have a target of 1.3973 area.
Not well formed, and we are a long way from a neck. Having said that you may have just found the best move of the day (or Sunday)
  • #52,507
  • Dec 26, 2008 1:32pm Dec 26, 2008 1:32pm
E$ on 1 hr chart ......double top. And this last top accomplished only with the help of a manipulated gap up. So, if this pattern is true and carries out, this is going to come down HARD AND FAR.
  • #52,508
  • Dec 26, 2008 1:35pm Dec 26, 2008 1:35pm
One day it will
Traders are smartasses
  • #52,509
  • Dec 26, 2008 1:38pm Dec 26, 2008 1:38pm
Quoting traderathome
E$ on 1 hr chart ......double top. And this last top accomplished only with the help of a manipulated gap up. So, if this pattern is true and carries out, this is going to come down HARD AND FAR.
Ok forgive me, I must have missed something what gap up? When?
  • #52,510
  • Dec 26, 2008 1:40pm Dec 26, 2008 1:40pm
Quoting Spsantos
One day it will
The Sky is falling!

No, seriously, the E$ and EJ drift up thru the holiday is pure manipulation, imho. And the only reason the manipulators choose UP, would be if they were loading up on shorts and needing everyone else to think it is going up, and so buy in long......enabling the (hedge fund....?) to take on the opposite side, short, at artificially high pricing. Now, this could be all hogwash, and time will tell.
  • #52,511
  • Dec 26, 2008 1:45pm Dec 26, 2008 1:45pm
Quoting knuckledrag
Ok forgive me, I must have missed something what gap up? When?
The gap up is very clear on the 1 hr chart....a close of 1.3993 and subsequent open of 1.4046......what, around 2am EST last night? .....when trading resumed after the X-Mas break....

EDIT: Look at 1 hr chart taking in half dozen sessions.....double top.....right top (current) is itself a potential H & S formation in the making......nice big gap up to start this current second top, too.
  • #52,512
  • Dec 26, 2008 1:49pm Dec 26, 2008 1:49pm
Quoting traderathome
You can make fun of this, but the world at large does not trust China any farther than they can throw it! The US dollar, even under the gun with all the world currencies, is the benchmark haven when serious stuff begins to happen. China is very manipulative, and lies.....they are, after all, communists. And communists believe in the outcome justifies the means....lying has no significance to them.

Edit: This would be a perfect time for the big guns in forex to promote a $ devaluation scare......get everyone going long the eurodollar, while they...
not really making fun. *crying* sarcastic mostly... turn off the lights and shut the door its over. my children and grandchildren will never know the America I knew. When i was a kid "made in america" meant something.. when it said "made in japan" it was cheap crap.. later "made in taiwian" was even cheper crap/junk inferia. now we got china.. i had a washer when marriad i kept for ten years... i got rid of it when moving into new house... when i got the washer it was already 20 yrs old.. i have gone threw 2 washers since then... that old washer is now 40 yrs old and still works..just ugly olive green..
those who can, do. those who cant, talk about those who can
  • #52,513
  • Dec 26, 2008 1:52pm Dec 26, 2008 1:52pm
Quoting traderathome
The gap up is very clear on the 1 hr chart....a close of 1.3993 and subsequent open of 1.4046......what, around 2am EST last night? .....when trading resumed after the X-Mas break....
It may just be your broker
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  • #52,514
  • Dec 26, 2008 1:58pm Dec 26, 2008 1:58pm
Quoting gatorinla
not really making fun. *crying* sarcastic mostly... turn off the lights and shut the door its over. my children and grandchildren will never know the America I knew. When i was a kid "made in america" meant something.. when it said "made in japan" it was cheap crap.. later "made in taiwian" was even cheper crap/junk inferia. now we got china.. i had a washer when marriad i kept for ten years... i got rid of it when moving into new house... when i got the washer it was already 20 yrs old.. i have gone threw 2 washers since then... that old...
A remarkably "telling" post! I hope everyone not only reads it, but REFLECTS on it! Pushers of credit are largly responsible for "cheapened" merchandise. People stopped putting up layaway money for quality, and started "instant gratification" purchases of crap! It started the whole "build to fail just after warrenty" syndrome, knowing consumers would come back to replace, again on credit!

Maybe the only answer is to tell the bankers to "shove it", buy only with cash and only after saving enough for something of quality (if you can find it). And tell China, Japan, and our own good-for-nothing manufacturers, to "stuff it!"
  • #52,515
  • Dec 26, 2008 2:02pm Dec 26, 2008 2:02pm
EJ & EU.....late session price decay? Is this the start of it?
  • #52,516
  • Dec 26, 2008 2:04pm Dec 26, 2008 2:04pm
dont know you might wanna take profit on your ea.. just a thought you can always get back in.. im out for now looking for an entry.. might not be there untill next week
those who can, do. those who cant, talk about those who can
  • #52,517
  • Dec 26, 2008 2:08pm Dec 26, 2008 2:08pm
Quoting gatorinla
dont know you might wanna take profit on your ea.. just a thought you can always get back in.. im out for now looking for an entry.. might not be there untill next week
It was a rehtorical (misspelled) question.....these two have been pumped and held up artificially. And I am expecting the bastards to pull the rug out from under them sooner or later......
  • #52,518
  • Dec 26, 2008 2:09pm Dec 26, 2008 2:09pm
I have to do honey does. Good luck and get all the pips And Gator I hope Ak's last post helped, and you really need to allow PM's on your profile.
  • #52,519
  • Dec 26, 2008 2:13pm Dec 26, 2008 2:13pm
E$ .....about a 50 pip drop in last 35 minutes.....
  • #52,520
  • Dec 26, 2008 2:15pm Dec 26, 2008 2:15pm
Quoting traderathome
It was a rehtorical (misspelled) question.....these two have been pumped and held up artificially. And I am expecting the bastards to pull the rug out from under them sooner or later......
Im thinking this one will return to newer high..its been doing this i while.. they just want to hit all the sl on the longs then resume uptrend..its not for the meek... up 1000 then down 500 is the norm..
those who can, do. those who cant, talk about those who can
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