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Jacko's Forex House of Pleasure and Pain

  • #6,381
  • Mar 2, 2009 5:38am Mar 2, 2009 5:38am
Chinese not limited to energy and commodities.
Read this article about chinese investment in US real estate.
http://www.ft.com/cms/s/0/582d470c-c307-11dd-a5ae-000077b07658.html
History is written by the victors.
  • #6,382
  • Mar 2, 2009 7:31am Mar 2, 2009 7:31am
Hi Jacko,

Very eye opening post I must say, but NOTHING will change in the U.S. until there is a flushing out in the halls of congress. Your note to "O" will fall on deaf ears.

Where China is putting there money does say alot for their thought process & business skills, or maybe they are listeining to Jim Rogers.

Anyway thanks for your always economically informative post.

_________________________
  • #6,383
  • Mar 2, 2009 7:40am Mar 2, 2009 7:40am
if she runs up to fill the gap, i'm shorting at 2650....100tsl
  • #6,384
  • Mar 2, 2009 8:58am Mar 2, 2009 8:58am
In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:
"Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."


Uh Oh !!

.
Jacko
  • #6,385
  • Mar 2, 2009 10:44am Mar 2, 2009 10:44am
Quoting jacko
In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:
[color=#000099][font=Times New Roman][size=3]"Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations...


Scary sh*t indeed!
Addicted and proud of it!
  • #6,386
  • Mar 2, 2009 12:50pm Mar 2, 2009 12:50pm
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
Quoting McQueen68
if she runs up to fill the gap, i'm shorting at 2650....100tsl
bonjour,
Im new on the block
did you pickup a short anyway ? or do you still have your order in??

salut,

hans..
  • #6,387
  • Mar 2, 2009 3:49pm Mar 2, 2009 3:49pm
1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL


I like this simple concept.

http://i39.tinypic.com/zy6grs.gif
TRO
  • #6,388
  • Mar 2, 2009 4:18pm Mar 2, 2009 4:18pm
Quoting hansnl
bonjour,
Im new on the block
did you pickup a short anyway ? or do you still have your order in??

salut,

hans..
no sir...still waiting...patiently

g/l & g/t
  • #6,389
  • Mar 2, 2009 4:32pm Mar 2, 2009 4:32pm
Quoting jacko
In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:
[color=#000099][font=Times New Roman][size=3]"Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations...
If Thomas J. were alive today, instead of just casting a cowardly worthless dissenting vote in Congress, he would be in Chicago with Santelli tearing up that stimulus bill and casting it into Lake Michigan.

The question is can the tax cheat T. Secretary Geithner stabilize the credit and banking system and all bets are the half assed nationalization is a disaster. Also the so called stimulus won't stimulate and only a matter of time before its inflation city. No confidence whatsoever is the US economic policies.

But before the inflation the European Union is on the verge of collapse as one of those countries is bound to default like Iceland which would drive down the value of the Euro and maybe set off a run on the banks in other countries. What is the Euro Central Bank to do then?

Eastern Europe is no better with those currencies collapsing and also the risk of default with the high debt. Who knows what that outcome may be.
  • #6,390
  • Mar 2, 2009 7:10pm Mar 2, 2009 7:10pm
Quoting Money4Nothing
1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL


I like this simple concept.
Yes, simple indeed, but one question I often ask myself if how far back should you go to the left?

As far as your charting software will take you?

Or perhaps from the latest swing high or swing low?

I'd love to hear what the enlighted people out there think.
  • #6,391
  • Mar 2, 2009 8:21pm Mar 2, 2009 8:21pm
Quoting BWise
Yes, simple indeed, but one question I often ask myself if how far back should you go to the left?

As far as your charting software will take you?

Or perhaps from the latest swing high or swing low?

I'd love to hear what the enlighted people out there think.
200-300 bars of whatever tf you are trading should tell story...
  • #6,392
  • Mar 2, 2009 8:49pm Mar 2, 2009 8:49pm
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
Quoting chase

But before the inflation the European Union is on the verge of collapse as one of those countries is bound to default like Iceland which would drive down the value of the Euro and maybe set off a run on the banks in other countries. What is the Euro Central Bank to do then?

Eastern Europe is no better with those currencies collapsing and also the risk of default with the high debt. Who knows what that outcome may be.
For sure very soon a few chickens and a pig in the backyard will be far more valuable then any bank account.
But here in France they still think its not really there problem, we will find out soon..

salut,

hans..
  • #6,393
  • Mar 2, 2009 9:11pm Mar 2, 2009 9:11pm
I dont see Jacko's response or replies here!!
  • #6,394
  • Mar 2, 2009 11:33pm Mar 2, 2009 11:33pm
Quoting BWise
Yes, simple indeed, but one question I often ask myself if how far back should you go to the left?

As far as your charting software will take you?

Or perhaps from the latest swing high or swing low?

I'd love to hear what the enlighted people out there think.
1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL
TRO
  • #6,395
  • Mar 3, 2009 12:03am Mar 3, 2009 12:03am
Quoting chase
If Thomas J. were alive today, instead of just casting a cowardly worthless dissenting vote in Congress, he would be in Chicago with Santelli tearing up that stimulus bill and casting it into Lake Michigan.

The question is can the tax cheat T. Secretary Geithner stabilize the credit and banking system and all bets are the half assed nationalization is a disaster. Also the so called stimulus won't stimulate and only a matter of time before its inflation city. No confidence whatsoever is the US economic policies.

But before the inflation the European...
The Central banks are piloting the economic stimulus plans like drunken sailors
injecting trillions of dollars into the system. Many of these countries are already insolvent and the only thing left is to print money and inflate away the debt. There are too many factions in Europe for any kind of cohesive plan
as the danger of protectionism looms.

Eastern Europe poses incredible problems for the European Union with the amount of debt and risk of default. The upheaval in Eastern Europe would open the door to Russia or maybe a home grown coupe.

As all the pundits call for the dollar to tank that is a sure sign that the dollar will remain strong in the near term. But I would maintain a short term outlook with a tight SL as this high volatility can turn things on a dime.
History is written by the victors.
  • #6,396
  • Mar 3, 2009 12:57am Mar 3, 2009 12:57am
this is such a nice thread
I love Forex.
  • #6,397
  • Mar 3, 2009 1:02am Mar 3, 2009 1:02am
Quoting McQueen68
if she runs up to fill the gap, i'm shorting at 2650....100tsl
This time I was lucky enough to be watching.

I was stopped out earlier today with +47 pips and I was happy to just watch - resisting the urge to get in again quickly. Well, then the price moved right up past 1.2650, so what could I do? I just had to get in again

Actually, I wasn't so rash. My plan was not to enter in the bottom half of the trend channel and 1.2650 is about in the middle on the daily chart. It's more than a 50% pullback of the fall over the weekend on the 4-hr chart. It's right on my 4-hr trend line and just above my 1-hr trend line. (No good round number, though.) I waited for a pause then entered at market with a 100 pip tsl. Here's hoping ...

Cheers
Jellybean
  • #6,398
  • Mar 3, 2009 4:01am Mar 3, 2009 4:01am
Quoting McQueen68
if she runs up to fill the gap, i'm shorting at 2650....100tsl
short 2650 w/ 100tsl

g/l g/t to all
  • #6,399
  • Mar 3, 2009 4:43am Mar 3, 2009 4:43am
Quoting Money-RX
The Central banks are piloting the economic stimulus plans like drunken sailors
injecting trillions of dollars into the system. Many of these countries are already insolvent and the only thing left is to print money and inflate away the debt. There are too many factions in Europe for any kind of cohesive plan
as the danger of protectionism looms.
i don't know wahat you're talking about and i'm not sure if you do. Actually for the moment there is no such thingy as a stimulus plan in europe. No one is printing any money as euro is a common currency and one country can not print anything without the agreement of the other euro states (simplifying just to make a complicated issue easier). Printing money stays as the american way of solving problems...for the moment we see no actions of this kind in Europe and hopefully nothing will change in this matter. When it comes to protectionism it is against all the european agreements and founding documents of the union and is really unlikely to happen despite sarkozy talking a lot about it.

Quoting Money-RX
Eastern Europe poses incredible problems for the European Union with the amount of debt and risk of default. The upheaval in Eastern Europe would open the door to Russia or maybe a home grown coupe.
and this is what irritates me the most in your statement. This is showing clearly no understanding at all of european situation in america. These are not eastern or central european countries that pose incredible problems for the Union. Actually eastern and central european countries are the only members of the union that still have a positive GDP growth and stable financial and banking sytems. The problems we have in europe are caused by the braking economies of france and germany. The new countries of the EU are doing quite well thanks to lower labour costs and so on. if it wasn't for speculators and some incomprehensive acusations as the ones stated above in your post that keep on susciting the bad mood of investors we would have no problems at all because our economies are developping at the fastest pace in europe and are able to show their value in the times of crisis. What's more the eastern and central european states of the EU don't even have the euro (except for slovakia) so the situation here isn't as important for the value of the european currency as you might think.
you might have a point when it comes to russia profiting from the turmoil in europe somehow (especially in Ukraine (obviously not a part of EU)). I'm not sure what you mean by stating that we're facing a home grown coupe in eastern europe. Do you mean some kind of dictatorship or a military junta? if you do than it's simply an unbelievable bullshit. if i misunderstood you than sorry

Quoting Money-RX
As all the pundits call for the dollar to tank that is a sure sign that the dollar will remain strong in the near term. But I would maintain a short term outlook with a tight SL as this high volatility can turn things on a dime.
everything can happen. you might be right when it comes to dollar strengthening but i don't see any fundamentals behind it except for the risk aversion issue

sorry if it went out harsh...i don't intend to offend anyone
  • #6,400
  • Mar 3, 2009 5:52am Mar 3, 2009 5:52am
Great thread Jacko,I have been reading and lurking for a while now,I finally registered and this is my first post.I have been shorting and taking profits since 1.2900,I covered at 1.2578 from 1.2800 yesterday ,but i have a dozen or so side positions that i have taken profits on.what a nice down trend so far.My current position is short 1.2675 ...gltya
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