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Cesarnc's market talk, gossips, rumours & fun

  • #16,001
  • Jul 6, 2009 9:53am Jul 6, 2009 9:53am
Bad News

Wall Street slips on economic gloom

By Kiran Stacey in New York
Published: July 6 2009 13:54 | Last updated: July 6 2009 15:26

US stocks slipped on Monday morning as investors returned to their desks after the long independence day weekend only to be faced with a host of economic concerns.
Joe Biden, the vice president, added on Sunday to the economic gloom cast by Thursday’s unexpectedly poor unemployment report when he said the Obama administration “misread” how bad the economy was when forecasting 8 per cent unemployment. Even though Mr Biden said he didn’t think the jobless rate would reach double digits, his words knocked confidence in the government’s stimulus plan’s effectiveness.




http://www.ft.com/cms/s/0/a56d54ca-6...44feabdc0.html
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  • #16,002
  • Jul 6, 2009 9:55am Jul 6, 2009 9:55am
Good News


Data show conditions easing

By Daniel Pimlott, Economics Reporter
Published: July 3 2009 10:40 | Last updated: July 3 2009 23:54

The economy staged a sharp recovery in the second quarter of this year and may have returned to anaemic growth, figures published on Friday suggest.
The combined purchasing managers’ index for services, manufacturing and construction industries jumped to an average of 49.4 in the three months to June, compared with the depressed level of 40.8 in the first quarter.

After downwards revisions to growth earlier this week, which showed the biggest contraction in the economy in 50 years in the first quarter, the PMIs look even more out of line. “It is hard to put too much faith in the survey when such a wide gap has recently opened up with the official data,” said Vicky Redwood, of Capital Economics.
Ben Broadbent, economist at Goldman Sachs, argued that gross domestic product estimates tended to be revised higher over time, however, and that in the past the PMIs had provided a more accurate guide to growth than early GDP releases.
http://www.ft.com/cms/s/0/1ab5eb3c-6...44feabdc0.html
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  • #16,003
  • Jul 6, 2009 10:01am Jul 6, 2009 10:01am
B.S News


http://www.caglecartoons.com/images/...79dc9d8%7D.gif
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  • #16,004
  • Jul 6, 2009 10:03am Jul 6, 2009 10:03am
Quoting Big Wave Rider
Joe Biden, the vice president, added on Sunday to the economic gloom cast by Thursday’s unexpectedly poor unemployment report when he said the Obama administration “misread” how bad the economy was when forecasting 8 per cent unemployment. Even though Mr Biden said he didn’t think the jobless rate would reach double digits, his words knocked confidence in the government’s stimulus plan’s effectiveness.
Politics is the best profession ever.

You use the slogan "Yes we can", get elected than you change it to "Yes we could, if we haven't misread the economy".

It even beats prostitution as a profession. Once the lady says "Yes I can", ohhh, she's gotta do it.
  • #16,005
  • Jul 6, 2009 12:08pm Jul 6, 2009 12:08pm
don't understand why PMI is good but stocks drop immediately after news.

Quoting Big Wave Rider
Good News


Data show conditions easing

By Daniel Pimlott, Economics Reporter
Published: July 3 2009 10:40 | Last updated: July 3 2009 23:54

The economy staged a sharp recovery in the second quarter of this year and may have returned to anaemic growth, figures published on Friday suggest.
The combined purchasing managers’ index for services, manufacturing and construction industries jumped to an average of 49.4 in the three months to June,...
  • #16,006
  • Jul 6, 2009 12:40pm Jul 6, 2009 12:40pm
Quoting billye
don't understand why PMI is good but stocks drop immediately after news.
After the PMI, stocks stated recoverying. Dow now green after a -80 start this morning.
  • #16,007
  • Jul 6, 2009 1:09pm Jul 6, 2009 1:09pm
Oil is hammering, smashing, spanking my Petrobrás today.

But the chicken company is soaring, which makes you wonder if somebody found a way to run cars with feather and I'm not aware of

Nah....
  • #16,008
  • Jul 6, 2009 1:12pm Jul 6, 2009 1:12pm
Quoting Big Wave Rider


I love Mondays...........(sometimes)
150 pips whipsaw in cable, 110pips in euro, which turned positive for the day.

This is exactly what makes you HATE a Monday's guts.
  • #16,009
  • Jul 6, 2009 1:20pm Jul 6, 2009 1:20pm
Quoting cesarnc
...makes you wonder if somebody found a way to run cars with feather and I'm not aware of

Nah....
You can, and when you start your car: "cluck, cluck, cluck" .
  • #16,010
  • Jul 6, 2009 1:20pm Jul 6, 2009 1:20pm
Lost will celebrate it's final with a 2 hour episode...

Thanks God this crap is coming to an end. After 5 seasons, all I could understand is that an airplane crashed in an island in the Pacific. Everything else must have been written under industrial amounts of all sorts of drugs.
  • #16,011
  • Jul 6, 2009 2:52pm Jul 6, 2009 2:52pm
The wierdest currencies in the world

Imagine yourself trading forex with wooden bills or going long Cheese/Squirrel fur

Very interesting.. A must-read:

http://www.cnbc.com/id/31763263
  • #16,012
  • Jul 6, 2009 3:49pm Jul 6, 2009 3:49pm
Quoting cesarnc
The wierdest currencies in the world

Imagine yourself trading forex with wooden bills or going long Cheese/Squirrel fur

Very interesting.. A must-read:

http://www.cnbc.com/id/31763263
Excellent!

Long SquirrelPelts/Pengos must have been a great inflation hedge back in the forties! Looks like Pengos was even more insane than Zimbabwean dollars!
  • #16,013
  • Jul 6, 2009 4:26pm Jul 6, 2009 4:26pm
Quoting ganymedes
Excellent!

Long SquirrelPelts/Pengos must have been a great inflation hedge back in the forties! Looks like Pengos was even more insane than Zimbabwean dollars!
Nothing to worry about. You could just hedge it with short Salt/Burma seeds...

But you would have to lick the contract to check if it's the real deal

Oh boy, I think one day a guy shows up and says: Hey, you buncha morons.. Why don't we just print the value in a piece of paper for Buddha's sakes? (there was no Jesus by that time yet)
  • #16,014
  • Jul 6, 2009 4:48pm Jul 6, 2009 4:48pm
Quoting cesarnc
Nothing to worry about. You could just hedge it with short Salt/Burma seeds...

But you would have to lick the contract to check if it's the real deal

Oh boy, I think one day a guy shows up and says: Hey, you buncha morons.. Why don't we just print the value in a piece of paper for Buddha's sakes? (there was no Jesus by that time yet)
this is what I had to say to your last post...
Attached Image
  • #16,015
  • Jul 6, 2009 5:50pm Jul 6, 2009 5:50pm
Quoting cesarnc
The wierdest currencies in the world

Imagine yourself trading forex with wooden bills or going long Cheese/Squirrel fur

Very interesting.. A must-read:

http://www.cnbc.com/id/31763263


Wow, so before it was "in God we trust" It was basically "In the death penalty we trust". Officially "To counterfeit is Death" The U.S was founded by puritans, and the sad thing is they still have a lot of influence. Just look at Texas. The death penalty there is the just like it was back then. How far the U.S has come a long way since then, but at the same time, it's still kinda the same. I still love the U.S, and we just kicked Granada's ass 4-0 on 4th July. The U.S soccer team showing some skill They might actually get somewhere in next years World Cup
Inserted Video

GOL, GOL, GOL, GOL, GOL, GOL



Speaking of the 4th, July.
An old saying goes, If you drink a fifth* on the fourth, you'll fail to go fourth on the fifth.


* Fifth is a typical sized bottle of whiskey




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  • #16,016
  • Jul 6, 2009 6:00pm Jul 6, 2009 6:00pm
Lots of pin bars on yen pairs:

Attached Image


Remember this?
Gone to a better place
  • #16,017
  • Jul 6, 2009 6:14pm Jul 6, 2009 6:14pm
lance Armstrong is now in 3rd overall. And he is supposed to be racing support for Alberto Contador (captain of the astana team) the spanish rider who won the tour last year. I have a feeling that team astana may have a new captain soon
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  • #16,018
  • Jul 6, 2009 6:28pm Jul 6, 2009 6:28pm
Quoting cesarnc
150 pips whipsaw in cable, 110pips in euro, which turned positive for the day.

This is exactly what makes you HATE a Monday's guts.

Not really, they both hit good supports, My short term shorts played out nice. A few hundred pips here and there, Even flipped the hat and took a long position. (For me short term was almost a week)
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  • #16,019
  • Jul 6, 2009 6:36pm Jul 6, 2009 6:36pm
Quoting smikester
Lots of pin bars on yen pairs:


Remember this?
Noticed that, they do look good at support levels, but the best pins are the new high/low for x amount of time.
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  • #16,020
  • Jul 6, 2009 6:57pm Jul 6, 2009 6:57pm
I think I am going to finish my sake and go to bed. Goodnight.
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