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Cable Update (GBPUSD)

  • #122,241
  • Feb 20, 2009 10:30am Feb 20, 2009 10:30am
Quoting gammase1
It's frustrating to watch such destruction of confidence and wealth, I agree.

Although I wouldn't blame short-sellers for the chaos we are seeing. The huge falls in equities are the side effect of a deflating asset bubble, caused by years of cheap and available money and credit.

In my opinion, the short-sellers are only the messengers in relation to the deep-rooted problems in the system and are not the reason why the US banking system, as a whole, is insolvent, for example. On many fundamental measures, it would not be surprising to see the...
It's extremely frustrating!!

An island in the middle of no where is looking better and better. I saw once where you could buy your own island, that's what I need. My own island and an internet connection.
Just digging in the trenches like everyone else!
  • #122,242
  • Feb 20, 2009 10:30am Feb 20, 2009 10:30am
Quoting eohater
DOW at 6900 before day ends?

If we see 6900 on the DOW today, I think every American needs to drive to Wallstreet and execute all the traders. These assholes keep shorting and shorting and shorting. Before long, we'll be at ZERO, then they'll have no place to go but long. Oh, wait a minute, there won't be a country left because the asshole traders closed all the companies in America by shorting everyone's stock. I guess they can go stand in line for their bread and cheese like every other American.
Short sellers are the seekers of truth bro! the Western markets have been artifically inflated for years, now delevering and rightly so,

Blame the policital system and the FED for manipulation of credit and interest rates.... Bush crazy spending overseas, fannie and freddy, pushing cr@p loans in search for yield, look at the state of Western Economies, they are finished, stocks should reflect that with lower prices

blaming the short sellers doesnt make any sense, prices in a free market subject to flucuation and should rightly reflect market sentiment and outlook
Trading is 80% Emotional, 20% Technical
  • #122,243
  • Feb 20, 2009 10:33am Feb 20, 2009 10:33am
Quoting cisco
I tend to agree. I recall George Soros shorting the pound with massive trades that nearly brought the British empire to it's knees.

Traders also ran oil up for no other reason than to make massive profits. On a smaller scale we're all involved in doing the same thing. We want to make a profit regardless of how it affects others.
In the long run, Soros actually done the UK a huge favour, as a weaker pound totally invigorated our export sector. However, at the time, it was a humiliating defeat for the then Conservative government and the Bank of England, both of which tried in vain to fight Soros. In the aftermath there was a predictable rush by the politicians and media to find someone to blame and the greedy "speculators" fitted the bill perfectly.
  • #122,244
  • Feb 20, 2009 10:34am Feb 20, 2009 10:34am
Quoting eohater
It's extremely frustrating!!

An island in the middle of no where is looking better and better. I saw once where you could buy your own island, that's what I need. My own island and an internet connection.
I'd massively short your currency!!!

Although it'd probably be much stronger than sterling and you'd have better GDP growth prospects!!!
  • #122,245
  • Feb 20, 2009 10:35am Feb 20, 2009 10:35am
Quoting eohater
It's extremely frustrating!!

An island in the middle of no where is looking better and better. I saw once where you could buy your own island, that's what I need. My own island and an internet connection.
... I already have an island (I don't own it though).... all I need now is an internet connection!!!!
Patience + Discipline - Greed = Success
  • #122,246
  • Feb 20, 2009 10:36am Feb 20, 2009 10:36am
Quoting cisco
I tend to agree. I recall George Soros shorting the pound with massive trades that nearly brought the British empire to it's knees.

Traders also ran oil up for no other reason than to make massive profits. On a smaller scale we're all involved in doing the same thing. We want to make a profit regardless of how it affects others.
Soros knew the govenment at time was weak and wouldnt hold its 15% interest rates, speculators and the market is powerful tool, price fixing has never worked just ask the russians

Oil on the other hand was driven by the FED drastically reducing interest rates while other countries didnt thus weakening the dollar, look at the dollar index or Euro dollar chart and crude chart, you will find that they are similar
Trading is 80% Emotional, 20% Technical
  • #122,247
  • Feb 20, 2009 10:37am Feb 20, 2009 10:37am
Quoting eohater
It's extremely frustrating!!

An island in the middle of no where is looking better and better. I saw once where you could buy your own island, that's what I need. My own island and an internet connection.
Hey EO - put them smokes down!
  • #122,248
  • Feb 20, 2009 10:37am Feb 20, 2009 10:37am
I'll short for around 40-50 pips if it goes around 43.30ish, bcus looks like a down channel on the 4h charts
  • #122,249
  • Feb 20, 2009 10:38am Feb 20, 2009 10:38am
Quoting fx local
Oil on the other hand was driven by the FED drastically reducing interest rates while other countries didnt thus weakening the dollar, look at the dollar index or Euro dollar chart and crude chart, you will find that they are similar
Agreed, but the surge in its price was definitely given a huge boost by speculators jumping on board to catch some of the momentum, which further perpetuated the strength of the price move.
  • #122,250
  • Feb 20, 2009 10:39am Feb 20, 2009 10:39am
Quoting Infinity
... I already have an island (I don't own it though).... all I need now is an internet connection!!!!
As long as they have fatty's....I'm there!!!

HOLLA
  • #122,251
  • Feb 20, 2009 10:39am Feb 20, 2009 10:39am
Quoting gammase1
In the long run, Soros actually done the UK a huge favour, as a weaker pound totally invigorated our export sector. However, at the time, it was a humiliating defeat for the then Conservative government and the Bank of England, both of which tried in vain to fight Soros. In the aftermath there was a predictable rush by the politicians and media to find someone to blame and the greedy "speculators" fitted the bill perfectly.
The point is, Soros didn't give a damn about the consequences, he only cared about his profits, just like other traders.
Hi, my name is Barry and you can keep your doctor...
  • #122,252
  • Feb 20, 2009 10:40am Feb 20, 2009 10:40am
Quoting gammase1
In the long run, Soros actually done the UK a huge favour, as a weaker pound totally invigorated our export sector. However, at the time, it was a humiliating defeat for the then Conservative government and the Bank of England, both of which tried in vain to fight Soros. In the aftermath there was a predictable rush by the politicians and media to find someone to blame and the greedy "speculators" fitted the bill perfectly.
yes i agree,

politicans are greedy, untrustly worthly wheeler dealers, where were the tresury select committee three years ago when HBOS and RBS were blowing out there balance sheets??? hmm counting their tax receipts....
Trading is 80% Emotional, 20% Technical
  • #122,253
  • Feb 20, 2009 10:40am Feb 20, 2009 10:40am
Quoting Turtle
As long as they have fatty's....I'm there!!!

HOLLA
I hear ya....
Patience + Discipline - Greed = Success
  • #122,254
  • Feb 20, 2009 10:41am Feb 20, 2009 10:41am
Quoting Infinity
... I already have an island (I don't own it though).... all I need now is an internet connection!!!!
If I move to your island, I'm bringing the internet with me. You have some major connection reliability there. There's our next business venture bro, reliable internet to Jamaica.
Just digging in the trenches like everyone else!
  • #122,255
  • Feb 20, 2009 10:41am Feb 20, 2009 10:41am
Quoting gammase1
Agreed, but the surge in its price was definitely given a huge boost by speculators jumping on board to catch some of the momentum, which further perpetuated the strength of the price move.
yes for sure, i heard alot of pple were burnt on the way down also....
Trading is 80% Emotional, 20% Technical
  • #122,256
  • Feb 20, 2009 10:42am Feb 20, 2009 10:42am
Quoting cisco
The point is, Soros didn't give a damn about the consequences, he only cared about his profits, just like other traders.
called Capitalism!!! so called free markets
Trading is 80% Emotional, 20% Technical
  • #122,257
  • Feb 20, 2009 10:42am Feb 20, 2009 10:42am
Quoting gammase1
Agreed, but the surge in its price was definitely given a huge boost by speculators jumping on board to catch some of the momentum, which further perpetuated the strength of the price move.
Exactly!
Stock funds who couldn't turn a profit went into the oil market to grab a fast buck.
Hi, my name is Barry and you can keep your doctor...
  • #122,258
  • Feb 20, 2009 10:42am Feb 20, 2009 10:42am
Quoting golatigo
Hey EO - put them smokes down!
I haven't lit up, yet!
Just digging in the trenches like everyone else!
  • #122,259
  • Feb 20, 2009 10:43am Feb 20, 2009 10:43am
Quoting cisco
The point is, Soros didn't give a damn about the consequences, he only cared about his profits, just like other traders.
I agree with you, cisco. But, as fxlocal said, Soros was a truth seeker.

GBP was pegged to the DEM at a rate which totally failed to reflect the true underlying dynamics of the two economies.
  • #122,260
  • Feb 20, 2009 10:43am Feb 20, 2009 10:43am
Quoting Turtle
As long as they have fatty's....I'm there!!!

HOLLA
Best fattys in the world from what I hear!!
Just digging in the trenches like everyone else!
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