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  • #166,481
  • Nov 27, 2009 4:49am Nov 27, 2009 4:49am
Quoting kingfisher
Solid recovery . Traders covering up their shorts.

Need some positive news from dubai and abu dhabi during weekend to start fresh bull run from next week.
abu dhabi? I thought it was a prison. Are you expecting some tip-offs from inside? You have some connections there?

And, are they allowed to trade forex while being incarcerated?
  • #166,482
  • Nov 27, 2009 4:54am Nov 27, 2009 4:54am
everybody be careful - we have end of the week AND end of the month. friday and monday could be very unstable...
  • #166,483
  • Nov 27, 2009 5:04am Nov 27, 2009 5:04am
Quote
abu dhabi? I thought it was a prison. Are you expecting some tip-offs from inside? You have some connections there?

And, are they allowed to trade forex while being incarcerated? http://cdn.forexfactory.com/images/s...m/confused.gif

I mean to say news from abu dhabi picking up stake in dubai world and lending the cash to them to pay off their debts.

Abu Dhabi did lend $ 15 billion earlier to dubai world i think in feb 2009..The total debt of dubai world is $ 60 billion, so i dont think dubai will go bust under $ 60 billion debt.

But until and unless, market does not believe that risks are subdued, we cant reach fresh new 1.52 highs.
  • #166,484
  • Nov 27, 2009 5:04am Nov 27, 2009 5:04am
Since when Dubai affects control world economy so much?
  • #166,485
  • Nov 27, 2009 5:05am Nov 27, 2009 5:05am
Quoting micho
kicked one short EURUSD at 1.4871 target adjustable 1.4839

do not copy, on your risk
Quote
target at BE

target 1.4883 ... this one is a loser
When life gives you lemons, make lemonade
  • #166,486
  • Nov 27, 2009 5:05am Nov 27, 2009 5:05am
Quote
Quote
http://money.cnn.com/2009/11/25/mark...iday/index.htm


Interesting article..wall street may open 300 points lower..strong initial reaction to dubai crisis.
  • #166,487
  • Nov 27, 2009 5:08am Nov 27, 2009 5:08am
Quoting x1810
Since when Dubai affects control world economy so much?
Would affect construction, engineering sectors etc, but I doubt too much of a real effect - just panic I reckon.
  • #166,488
  • Nov 27, 2009 5:15am Nov 27, 2009 5:15am
Quoting x1810
Since when Dubai affects control world economy so much?
It's the fear of contagion effects that is spooking investors so much, in that it raises the question: could this scenario also be played out in certain highly indebted emerging market nations?

In itself, the technical default on Dubai's debt is certainly not of the same magnitude as previous chapters in this credit crisis, but there is a risk it triggers a reversal of the tangible improvements seen in the credit markets since March, as spreads on EM and high yield debt starts to widen and related bond prices fall.
  • #166,489
  • Nov 27, 2009 5:15am Nov 27, 2009 5:15am
Quoting x1810
Since when Dubai affects control world economy so much?
These days everything is tied together. I'm sure some US and European banks have bought up some of the bonds that Dubai issued to fund the (crazy) construction bubble.

http://www.bloomberg.com/apps/news?p...A7viNEtE&pos=4

Quote
Royal Bank of Scotland Group Plc underwrote more loans than any institution to Dubai World, the state company seeking to reschedule debt, while HSBC Holdings Plc has the most at risk in the United Arab Emirates, according to JPMorgan Chase & Co....
  • #166,490
  • Nov 27, 2009 5:17am Nov 27, 2009 5:17am
The gold was going 1200 + and e/u to 1.52 before dubai crisis hit !
  • #166,491
  • Nov 27, 2009 5:19am Nov 27, 2009 5:19am
Quoting swampthing
These days everything is tied together. I'm sure some US and European banks have bought up some of the bonds that Dubai issued to fund the (crazy) construction bubble.
Correct.... The creditors are for the most part European banks, with HSBC and Standard Chartered holding the largest exposure to the region.
  • #166,492
  • Nov 27, 2009 5:25am Nov 27, 2009 5:25am
Quoting "expert"
Morning all.

heare is 4 hr chart of USD index.

Area 1 is false break.COuld area 2 be the same?Could we test uper resistance line?

AS fpr me waiting stup on 5 and 15 m for new long.If this go down it will go with out me.
do you know were i might access.. good live charts of the USD Index.. the same as you Please..??
  • #166,493
  • Nov 27, 2009 5:30am Nov 27, 2009 5:30am
Will 1.4800 be the strong support level?
Any idea if i took long @ 1.4830, should i close it?
  • #166,494
  • Nov 27, 2009 5:30am Nov 27, 2009 5:30am
well.. damned are those with american stocks, such as me

as for EURUSD, im sticking to the plan.
  • #166,495
  • Edited 8:30am Nov 27, 2009 5:31am | Edited 8:30am
Quoting micho
kicked one short EURUSD at 1.4871 target adjustable 1.4839

do not copy, on your risk
Quote
target at BE
Quote
target 1.4883 ... this one is a loser
target 1.4879
When life gives you lemons, make lemonade
  • #166,496
  • Nov 27, 2009 5:43am Nov 27, 2009 5:43am
Dubai World intervention to ensure 'long term commercial success' - Sheikh Ahmed.

He said further information would be made available early next week.

http://www.arabianbusiness.com/57465...is-latest-news

Early next week, there will be positive announcements from dubai how they will be repaying the debt and once again bull run will start.

From my trading experience, market needs a catalyst to go up or down.

After heavy selling in last 30 hours, market needs a catalyst/reason to go up and this will come early next week from dubai positive annoucement.
  • #166,497
  • Nov 27, 2009 5:54am Nov 27, 2009 5:54am
H&S pattern?
Attached Image (click to enlarge)
Click to Enlarge Name: m30hands27nov.jpg Size: 164 KB
Do not follow the path trodden by human laziness.
  • #166,498
  • Nov 27, 2009 5:56am Nov 27, 2009 5:56am
Quoting kingfisher
Dubai World intervention to ensure 'long term commercial success' - Sheikh Ahmed.

He said further information would be made available early next week.

http://www.arabianbusiness.com/57465...is-latest-news
Europe has recovered from the initial shock:
http://www.marketwatch.com/story/eur...ist-2009-11-27

I think the US market will sure the same pattern, with the stock market taking a sizeable hit on Monday. But it'll take some other good news to keep the party going.
  • #166,499
  • Edited 6:15am Nov 27, 2009 5:57am | Edited 6:15am
Quoting Larseg
Hehe, yea that's why we have SL

I am actually buying some E/J now... Yes I know its early but why not give something back here is the chart...

Will add on if we see 128.00-128.10 (SL 127.91)

will watch 129.05, 129,36 and 130,05 closesly...
and I will trail it with 1H chandelier exit...

fingers crossed...
just afraid that EJ going to get pulled down again, the correlation this week is very high. I am waiting to see how it goes later before buying, or maybe next week, we will be looking to hold this beast for a while - month maybe more.But first it needs to hit the bottom for the weekly - whatever that's going to be. or show some sign of upward move. be careful as it's ranging weekly for a long while, it may break out to the down side - you never know. Check the weekly and you can see the last breakout. (wishing it will break out to the upside in a month - that's a wish, but we let the market decide what it will)

The other pair been UJ which is really at the low, not that it cant go lower. The pair that can go long. Better play than EU and better rewards. .one way to do this is keep adding positions with very very small lots. This way , you don't need stop loss, divide your intended lot by 10, and keep adding every X pips. the pair will play out well in the long term - no rush. let the air force and commandos lead the war first - foot soldiers just collect gold and bury the dead bodies.

btw EU is not over yet. but it's getting risker for those wanting to get in now, whipsaw effects. bring it up then drop it again.
I am both right and wrong, what's important is the amount of $$$ in my bank
  • #166,500
  • Nov 27, 2009 6:01am Nov 27, 2009 6:01am
Quoting kingfisher
From my trading experience, market needs a catalyst to go up or down.

After heavy selling in last 30 hours, market needs a catalyst/reason to go up and this will come early next week from dubai positive annoucement.
You have a knack for oversimplification. There are alot of other reasons why the next month could make it hard for the euro to rise against the dollar. We are likely to see more profit taking (that's right, "booking profits") in the stock markets, because that typically happens at year-end. Moreover, the "recovery" is not all its cracked up to be and there are continuing mixed/bad economic news from the USA and from the EZ and this probably will help along a stock market correction.

There have been a lot of news lately about sovereign discomfort with the weak USD - including Tokyo and possible BOJ intervention on behalf of the over-strong JPY, recent SNB intervention, etc. If CB interventions continue to occur or even be rumored, that will weigh on the euro.

I could go on, but the more details you pile on the muddier the picture gets. And thats what it is, a muddy picture. Hard really to predict what will happen, but I wouldn't want to rest on any assumptions about what some brightening news out of Dubai might bring to pass.
"If The Fool persists in his Folly he will become wise." - William Blake
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