hehehehe... this market can surprise me every single day...
Now "they" are wondering about a little word that can change our days: bias.
[THE FOMC "BIAS"] There is some debate today over whether the Fed's "bias" has changed. The ambiguity is over what exactly this short-hand term for the policy outlook means. Those who don"t think the bias has changed seem to have in mind that Fed officials still declare inflation to be their biggest worry. Those who think the bias has changed note what the statement explicitly says about policy. Given that the disagreement is over what "bias" means rather than on the actual policy outlook, fixating on whether the bias is neutral misses the point. The Fed statement now says future policy adjustment depends on developments in inflation and growth, whereas it had said "...additional firming that may be needed...." The statement also stopped noting progress in core inflation. Those are the things on which we should focus, not on whether the "bias" (a word markedly absent from official commentary) is neutral.
- #8,722
- Mar 21, 2007 2:14pm Mar 21, 2007 2:14pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Options contacts note a range of 1.3400-1.3500 barriers in place in [EUR/USD], though the expiries are said to be around Easter (Apr 06), which suggests that the market will gun for their removal while defense remains muted. That is likely to add to upside momentum in the pair generated by the more neutral FOMC statement as the market looks to trip an initial round of stops above 1.3400.
Let the bears lick the wounds a notch
Let the bears lick the wounds a notch
- #8,723
- Mar 21, 2007 2:17pm Mar 21, 2007 2:17pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
So In laymans terms with a neutral statement why would cable assume that it should go long and also with the overbought status isnt there only one way ie down???
Came out "no-hike + B.S". Market dumpped dollars in response
- #8,724
- Mar 21, 2007 2:17pm Mar 21, 2007 2:17pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #8,726
- Mar 21, 2007 2:24pm Mar 21, 2007 2:24pm
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #8,728
- Mar 21, 2007 2:26pm Mar 21, 2007 2:26pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #8,729
- Mar 21, 2007 2:34pm Mar 21, 2007 2:34pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Now this one I gotta share...
This is my 1min chart I keep for checking purposes
All candles GOOONNEEE
Gotta love Cable.
This is my 1min chart I keep for checking purposes
All candles GOOONNEEE
Gotta love Cable.
- #8,732
- Mar 21, 2007 2:43pm Mar 21, 2007 2:43pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #8,733
- Mar 21, 2007 2:48pm Mar 21, 2007 2:48pm
- | Joined Sep 2006 | Status: Forex Newbie | 1,517 Posts
Ok, now seriously...
Low 9584 / High 9692 (so far)
I reloaded at 38%
Adding at 50, 61 and 78 if that happens....
adding on 9700 breach, when that happens.
Daily just went into stoch overbought area and RSI is at critical 60 (where it usually reverses). But I like the Daily fuelled this way. Still on the upside yes sir.
Tra-X
- #8,734
- Mar 21, 2007 2:48pm Mar 21, 2007 2:48pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Hope you still don't forget the super-ancient 'Henrycarol' resistance at 9710-20 area. Looks like it's gonna be tested again. Not too sure whether it's still there tho.
- #8,735
- Mar 21, 2007 2:51pm Mar 21, 2007 2:51pm
- | Joined Sep 2006 | Status: Forex Newbie | 1,517 Posts
I say "bring'em'on!!!"
Tra-X
- #8,737
- Mar 21, 2007 2:59pm Mar 21, 2007 2:59pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
I like your spirit energy. lol
+ super-annoying drawdown I was carrying just ahead of the news....
Gotta vent the energy eventually...
