Technical Analysis Fallacy

Get ready

Just for info:

New York, August 27. Trys reacting to Fed Lacker story about possibly cutting back on QE buying of MBS. This follows a small bounce after the better-than-expected GDP revision and modest drop in continuing claims. Also, markets and corporates are focused on closing August books at the moment with a slight USD buying bias.
A few stories favoring the JPY at the moment. First, the Nikkei News story form yesterday showing an increased number of Japanese firms plan to take advantage of tax-free repatriation of overseas profits. The total amount at risk is estimated by JP Morgan at JPY4trl though one would suspect that the BOJ will soak a good portion of that up. Second, Toyota shutting production on 700K vehicles may have a bias against overseas operations; particularly if it is perceived that the US government has a Detroit bias (WSJ). Third, the WSJ Part 3 story that short term JPY lending rates are now above USD rates is being circulated. Finally, there is talk a DPJ victory in elections may get foreigners interested in owning Japanese shares again as it may mark a "change we can believe in." The WSJ features an article about the DPJ moving away toward better Asian relations at the expense of US.
Though most of these stories have been marginalized, the new month may see them reemerge as a theme should the JPY keep moving higher in what is typically a volatile September/October time period.
93.50 option expiry today is closest to market.. Stops above 94.00/20 with offers above 94.70. 93.35 the low. [i][email protected][/i]

Disclaimer: Be aware of possible Cow Dung included ;-)

3k's at the break point ..... Come on! Go baby go!!

FDIC reports coming out, Banking industry in the US in horrible shape, problem banks highest levels in 15 years.. ect, ect...

Bad news for the banks

Fti,

I guess this is your long sword coming into play, patterned off your banking experience? Where does one go to learn?

regards,

any link for the report copy ?
thanks

Mahes,

I was listening to it on CNBC. Let me look around

ohallrite ,
fdic site shows this as last news
FDIC-Insured Institutions Lost $3.7 Billion in the Second Quarter of 2009

its allrite aux , can look for it later, better dance with her now
good trade to all

I think this is the report they were referencing,

http://www2.fdic.gov/qbp/2009jun/qbp.pdf

By the way: MY lday USDJPY hast started her dancing session too.
I'm not unhappy so far :-)
But just right now EUJPY and the 13300 level are a little handicap ...

thanks for the link

MH,

I tried to open the link and it didn't work, you might have to go the the site and search it, 2009 2nd quarter report

Regards,

Taking a break, back later... good trading all.

It worked fine for me, maybe refresh your browser?

Heres the pdf if link dint work.

Hi everyone, been very busy trading today, piecing together the day with 4 ($/CAD, E/J and the GBP/$) different trades. Finally done for the day and in need of some rest. Hope you all had a good day. Back at it tomorrow. fti, sounds like you are in to some interesting things. Hope its going well.

Phew - what is going on there?
Strong moves in all majors ...
Are the CB's in ????

Dollar selling across the board.
Any ideas?

I bought some euros, why? :-)

No idea what is going on but that's half the profits I lost the other day (or was it only yesterday?) back again

US Bull being bar-b-qed

That's pure fun :-)