- #162,363
- Nov 17, 2009 5:19am Nov 17, 2009 5:19am
- Joined Apr 2007 | Status: Trader | 3,055 Posts
The best thing that can happen to you is to find out where you're wrong.
- #162,366
- Edited 5:38am Nov 17, 2009 5:25am | Edited 5:38am
- | Joined Aug 2007 | Status: Say what ? | 1,888 Posts
Good day everyone!
Just opened my platform and what do I see?! 1.4860...
might be a good place to go long again as I closed all of my long positions yesterday.
But first have to understand this move down. Any idea what happened? Might be an intervention?......
Morning !
Oh this is a good one.
Intervention you ask ? Well, it's not what we typically consider intervention but watch the effects today.
The US President, my president, has been in China this week. China, our nation's largest benifactor,
holds more US debt that you can say grace over. Now, he has come, hat in hand ala Oliver Twist, to the source
of our consumption to ask, "Please sir, I'd like some more..." No doubt, most honorable Banker san said,
"Certainly, you may...but we want something in return..."
Around the world, this year as global markets are enjoying double digit returns in their portfolios,
China is looking at a mountain of US Dollars in their coffers valued at a huge discount to where they own them.
They would like to see some double digit returns too and have a joyous and prosperous holiday season.
And as we all know, it's not what you get, it's what you give that counts.
So it's likely our politicians have given away another piece of our nation in exchange for an extension
to finance our livestyle and bloated government for another year. I mean this in the nicest way, of course.
So, as we sip our warm beverages and watch our screens flicker, Mr. Obama, is on the phone to Geithner, et al
with instructions to ram the US Dollar up the ass of anyone standing in the way, but make it look like an accident.
Even The Chairman of the Federal reserve has been given a small speaking part in this mini-drama.
He usually stays moot on issues involving direct addresses on currency issues. Not this time, Everybody's on stage.
Something is underway.
It will start small, then gain momentum and will only appear clear in hindsight.
Regardless of the fundamentals and how many trillions of dollars have been printed,
are being printed and no doubt will be printed, in an act defying the gravity and physics of finance,
The markets will once again bend to the pressure of the most manipulative Central Bank ever devised by mankind.
The Chinese could still learn a thing or two from us......
We (the US) have been using the Central Bank of Japan as a personal slush fund for nearly 3 generations.
Effects may not last, they never do, but for the interim, the results should be as intended.
Afterwards, no doubt, it will be business as usual and the reality of a troubled economy will
settle back in to the mix and weigh heavy on the currency again, like it has for the last 25 or 30 years.
Don't expect it to happen today, nor all in one day. It will take time for this to play out.
Euro 150 has a lot of paper attached to it. Anywhere within 2% of this figure, up or down,
will be the exchange rate of record for putting ink to deals which
have been left undone for months. These deals are now getting done.
Loans made at 150 are getting repaid at or near 150. Valuations on M&A activity are inline with
where they needed to be when they previously got tabled. It's back on now.
147, 148, 150, 152 - whatever. This is the AREA that business is getting transacted in.
So, hold on to whatever feels good and expect an entertaining ride. Even if one chooses not to participate,
the leaders have at least promised us bread and circuses so....have you tried the bread ? ooooh is so fresh.... oohhh..
There's my take. Only worth what it cost you, so no refunds. Exchange only with valid receipt.
- #162,367
- Nov 17, 2009 5:26am Nov 17, 2009 5:26am
- | Joined Jan 2009 | Status: Trader | 3,071 Posts
in truth you do not need multiple monitors. what you need are good ideas.
I have more monitors, only because I am dealing with futures and Bonds
And yes, 1 monitor (laptop in my case) and good ideas are all you need!
And from this place I would like to thank the mayor of my town for the free wi-fi hotspots around the city. Thank you.
- #162,370
- Nov 17, 2009 5:27am Nov 17, 2009 5:27am
- Joined Apr 2007 | Status: Trader | 3,055 Posts
The best thing that can happen to you is to find out where you're wrong.
- #162,372
- Nov 17, 2009 5:29am Nov 17, 2009 5:29am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
After my last margin call I had to sell my house to have money for a new deposit.
And yes, 1 monitor (laptop in my case) and good ideas are all you need!
Attachment
And from this place I would like to thank the mayor of my town for the free wi-fi hotspots around the city. Thank you.
- #162,377
- Nov 17, 2009 5:35am Nov 17, 2009 5:35am
Morning !
Oh this is a good one.
Intervention you ask ? Well, it's not what we typically consider intervention but watch the effects today.
The US President, my president, has been in China this week. China, our nation's largest benifactor,
holds more US debt that you can say grace over. Now, he has come, hat in hand ala Oliver Twist, to the source
of our consumption to ask, "Please sir, I'd like some more..." No doubt, most honorable Banker san said,
"Certainly, you may...but we want something in return..."
Around the world, this...
to be honest it did cross my mind that Obama's visit might be affecting USD but really, that's just so insane, meaning digging even huger hole for the whole country in sake of another year.
But what do I know...
Thank you toshi, I'll take it and promise not to ask for refunds
Happy Trading,
V.
In God We Trust! The question is, does God trust us?
- #162,378
- Nov 17, 2009 5:42am Nov 17, 2009 5:42am
- | Joined Aug 2007 | Status: Say what ? | 1,888 Posts
- #162,379
- Nov 17, 2009 5:44am Nov 17, 2009 5:44am
- | Joined Aug 2007 | Status: Say what ? | 1,888 Posts
to be honest it did cross my mind that Obama's visit might be affecting USD but really, that's just so insane,
meaning digging even huger hole for the whole country in sake of another year.
But what do I know...
Thank you toshi, I'll take it and promise not to ask for refunds
Happy Trading,
V.
- #162,380
- Nov 17, 2009 5:45am Nov 17, 2009 5:45am
- Joined Apr 2007 | Status: Trader | 3,055 Posts
The best thing that can happen to you is to find out where you're wrong.