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Trade what you see NOT what you expect

  • #17,681
  • Jul 8, 2009 8:50am Jul 8, 2009 8:50am
Quoting alcando
I like this IMF report ugrading their forecast on the Global economy.
That's weird! I just heard the IMF report being analyzed and their conclusion was that the report said the global economy wasn't recovering, and we'd be in a protracted recovery.
Hi, my name is Barry and you can keep your doctor...
  • #17,682
  • Jul 8, 2009 8:53am Jul 8, 2009 8:53am
EO, I heard that the NFA (I think) was talking about limiting the size of futures contracts on oil in order to stop the crazy speculation that's keeping oil artificially high. If that happens then they expect a big drop in crude prices. You might want to keep a short leash on your oil if that happens.

Correction:CFTC, not NFA.
Hi, my name is Barry and you can keep your doctor...
  • #17,683
  • Jul 8, 2009 8:55am Jul 8, 2009 8:55am
Quoting cisco
EO, I heard that the NFA (I think) was talking about limiting the size of futures contracts on oil in order to stop the crazy speculation that's keeping oil artificially high. If that happens then they expect a big drop in crude prices. You might want to keep a short leash on your oil if that happens.
Thanks for the heads up bro! I've got my positions covered green. MY SL is at $40 on my remaining position.
Just digging in the trenches like everyone else!
  • #17,684
  • Jul 8, 2009 8:57am Jul 8, 2009 8:57am
Quoting eohater
Thanks for the heads up bro! I've got my positions covered green. MY SL is at $40 on my remaining position.
I'll give you $45 today and then you won't have to worry about it.
  • #17,685
  • Jul 8, 2009 9:03am Jul 8, 2009 9:03am
Quoting PippiNole
I'll give you $45 today and then you won't have to worry about it.
It's good to see you covering EO's back. What are friends for, anyway?
Hi, my name is Barry and you can keep your doctor...
  • #17,686
  • Jul 8, 2009 9:04am Jul 8, 2009 9:04am
Yes, its a bit mixed. The positive is that they upgraded the global growth forecast to 2.5% from 1.9% previously. It does however forecast a growth in GDP for the UK to 0.4% vs a -0.2%. That may just lift a few longer term views on cable short squad.

Looks like it has done the usual thing of just stirring the pot up so that the short squad can sell into it.

Not loving the rest of this long but my short is still on the side.


Quoting cisco
That's weird! I just heard the IMF report being analyzed and their conclusion was that the report said the global economy wasn't recovering, and we'd be in a protracted recovery.
Ride the Bulls bearback!
  • #17,687
  • Jul 8, 2009 9:04am Jul 8, 2009 9:04am
The IMF expects the world economy to shrink by 1.4 percent in 2009, slightly worse than its earlier estimate of 1.3 percent. But it boosted its estimate for global economic growth in 2010 to 2.5 percent, up from its April projection of 1.9 percent.

Alcando beat me to it.
  • #17,688
  • Jul 8, 2009 9:04am Jul 8, 2009 9:04am
Quoting PippiNole
I'll give you $45 today and then you won't have to worry about it.
Just digging in the trenches like everyone else!
  • #17,689
  • Jul 8, 2009 9:08am Jul 8, 2009 9:08am
Central banks that still have room to cut interest rates should do so, the IMF said, and governments should continue to stimulate their economies through 2010 with measures such as greater spending or tax cuts.
  • #17,690
  • Jul 8, 2009 9:16am Jul 8, 2009 9:16am
Quoting PippiNole
tax cuts.
Obviously there aren't any of Obama's economic team at the IMF.
Hi, my name is Barry and you can keep your doctor...
  • #17,691
  • Jul 8, 2009 9:19am Jul 8, 2009 9:19am
6120 is an important area to get through if we're going to keep marching north.
Hi, my name is Barry and you can keep your doctor...
  • #17,692
  • Jul 8, 2009 9:22am Jul 8, 2009 9:22am
Quoting cisco
6120 is an important area to get through if we're going to keep marching north.
Yep! I have 6130 actually, but the 20 is right there in line with it.
Just digging in the trenches like everyone else!
  • #17,693
  • Jul 8, 2009 9:25am Jul 8, 2009 9:25am
Morning guys, what is the value of your daily 50ema... mine is 5955..
Patience + Discipline - Greed = Success
  • #17,694
  • Jul 8, 2009 9:26am Jul 8, 2009 9:26am
Quoting Infinity
Morning guys, what is the value of your daily 50ema... mine is 5955..
BINGO! Shall we see it tomorrow you think or today? I'm favoring tomorrow myself.
Just digging in the trenches like everyone else!
  • #17,695
  • Jul 8, 2009 9:26am Jul 8, 2009 9:26am
Quoting cisco
Obviously there aren't any of Obama's economic team at the IMF.
Unfortunately you are correct.
  • #17,696
  • Jul 8, 2009 9:29am Jul 8, 2009 9:29am
BERN, Switzerland — Switzerland's government said Wednesday it would forbid the Swiss bank UBS AG from complying with any court-ordered transfer of data on tens of thousands of American clients to the U.S. government, and would consider seizing documents to prevent that.

The Swiss may be showing some back bone.
  • #17,697
  • Jul 8, 2009 9:33am Jul 8, 2009 9:33am
Quoting eohater
BINGO! Shall we see it tomorrow you think or today? I'm favoring tomorrow myself.
Not too sure bro... we may see it soon.... I also have the weekly 10ema at 5988.. However... the h4 is looking like it's getting ready to turn...
Patience + Discipline - Greed = Success
  • #17,698
  • Jul 8, 2009 9:33am Jul 8, 2009 9:33am
TIW
Hi, my name is Barry and you can keep your doctor...
  • #17,699
  • Jul 8, 2009 9:35am Jul 8, 2009 9:35am
Quoting Infinity
Not too sure bro... we may see it soon.... I also have the weekly 10ema at 5988.. However... the h4 is looking like it's getting ready to turn...
The h4 is what put me on the long bus bro! I was kinda thinking a pullback today and a fall tomorrow. to the 598x-595x area.
Just digging in the trenches like everyone else!
  • #17,700
  • Jul 8, 2009 9:38am Jul 8, 2009 9:38am
Quoting eohater
The h4 is what put me on the long bus bro! I was kinda thinking a pullback today and a fall tomorrow. to the 598x-595x area.
I was long just a minute ago from 6067... but closed out at 27. watching this h1 close for my next entry...
Patience + Discipline - Greed = Success
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