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  • #207,601
  • Mar 7, 2010 1:28am Mar 7, 2010 1:28am
http://www.bloomberg.com/apps/news?p...qkSNUJwY&pos=4

Hey if Paul Volcker says the euro is gonna be ok you can take it to the bank.

Buy dips.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #207,602
  • Mar 7, 2010 3:13am Mar 7, 2010 3:13am
Thanks , may one nasty play hiking further taxes there , I see they already not pay less than others .
http://www.worldwide-tax.com/greece/greece_tax.asp

fontu

Quoting malcolmb14
while having many glasses of wine and lovely food with awesome company this evening I pondered Greece.

what better way to hike taxes than to say they have a debt crisis and blame it on this ?.... awesome smoke screen if you ask me , very smart way for the government to hike taxes.

45 % taxing the rich , pretty much in line with most other countries that have no issues. Aussie http://www.ato.gov.au/individuals/co...tent/12333.htm ...180 k you pay 58 k more than 45% ... did the credit crunch even touch them NO. Did the...
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #207,603
  • Mar 7, 2010 3:55am Mar 7, 2010 3:55am
Quoting malcolmb14
while having many glasses of wine and lovely food with awesome company this evening I pondered Greece.

what better way to hike taxes than to say they have a debt crisis and blame it on this ?.... awesome smoke screen if you ask me , very smart way for the government to hike taxes.

45 % taxing the rich , pretty much in line with most other countries that have no issues. Aussie http://www.ato.gov.au/individuals/co...tent/12333.htm ...180 k you pay 58 k more than...
very interesting. if - in a historical view - all this turns out to be a conspiracy, let's compare greece's taxes to that of the other pigs as well. do you have any data on them or could point me to a more or less reliable source?
  • #207,604
  • Mar 7, 2010 4:02am Mar 7, 2010 4:02am
so malcolmb, teach me here.. what do you look out for to know which way the tide will turn?

kinda tired of getting it right a few times.. then after a few wrongs and blown account, it gets me thinking whether i'm on the right track afterall.

Quoting malcolmb14
this is a very good question .....and one I do not have an answer for.

I thought for sure eu was toast 0.8 and lower .... but now i see dx weekly and eu futures weekly and all i can say is that the tide is turning once more.Maybe this is just a retrace coming , maybe a whole bunch of seller will turn up in 1,4000 area for the 1.2500 run .
  • #207,605
  • Mar 7, 2010 4:40am Mar 7, 2010 4:40am
Quoting malcolmb14
Old news on Iceland.Iceland should have all economic ties broken (trade embargo) to it and let them stew in their own shit economy for what their Government allowed to happen to Brits and Dutch and now they are arguing about the terms of repayment. What a bunch of thieves.

Look DJ at 2009 highs already and may even test 12500 .. who gives a shit about Iceland(population 10 and 2 million seals) and really who gives a shit about Greece. Best thing EU community can do is sell them one of their own islands and let them all live on it .. oh hold on...
This is the 4th week you been yelling 1.4/1.5. Can we have it already? Seriously though before you start making the claim that proffessional money won't be selling euros, you might want to look at the last 4 cot reports. And that isn't assumption or speculation!
All that is left in FF is just plain garbage. "Cloggie"
  • #207,606
  • Mar 7, 2010 7:10am Mar 7, 2010 7:10am
Quoting fontu
start of the day.....

John Smith started the day early having set his alarm clock (MADE IN CHINA) for 6 a.m.
While his coffeepot (MADE IN GERMANY)...
Nice one. America export Dollar and Debt in exchange for all of the

above,

until everyone on the planet are flooded with US paper. That how all pyramid

schema's are ending, Dollar is right on schedule for inevitable ZERO value.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #207,607
  • Mar 7, 2010 7:29am Mar 7, 2010 7:29am
FXE is the symbol for CurrencyShares Euro Trust

The chart shows that for the last many days it has been in a upward trend.MACD has also given a buy signal
Attached Image (click to enlarge)
Click to Enlarge Name: euro1.JPG Size: 57 KB
  • #207,608
  • Mar 7, 2010 7:32am Mar 7, 2010 7:32am
Quoting hwsv07
so malcolmb, teach me here.. what do you look out for to know which way the tide will turn?

kinda tired of getting it right a few times.. then after a few wrongs and blown account, it gets me thinking whether i'm on the right track afterall.
It is not that one to follow others blindly , which side right or wrong . Nobody actually can know the future but certainly have a plan of action beforehand & do react in favourable environments. so if you follow him without knowing what his actual plan & strategy you can never know if he is right or wrong. Only time will tell the truth.What we see is not always right .price is trending for some time may no next, just preparing for big drop perhaps as it always move zigzag.
I think malcolmb is more a long term trader than day trader & believe one can follow the system he is doing VSA will never repent .
Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #207,609
  • Mar 7, 2010 7:55am Mar 7, 2010 7:55am
Greek Prime Minister George Papandreou is visiting Luxembourg, Berlin, Paris and Washington after his government passed a 4.8 billion euro austerity package March 5.

French President Nicolas Sarkozy said the European Union must support Greece or risk destroying the euro as Prime Minister George Papandreou heads for Paris to lobby support for the debt-laden country.
“If we created the euro, we cannot let a country fall that is in the eurozone,” said Sarkozy yesterday before a meeting with Papandreou in Paris today. “Otherwise there was no point in creating the euro. We must support Greece because they are making an effort.”

EU nations are said to be working on a contingency bailout plan for Greece to be funded by member governments. German finance minister, Wolfgang Schaeuble, said that officials should work on creating a European organization similar to the International Monetary Fund to prevent a repeat of the crisis.


meanwhile Greece's successful €5 billion ($6.8 billion) 10-year bond has reassured bond markets that the near-term risk of the country being unable to pay its debts is receding.
The bond attracted more than €16 billion of orders and priced late Thursday at 3.257 percentage points .
Spreads tightened slightly in the secondary market on Friday, which will reassure bondholders and the Greek government that the country's debt is deemed an attractive investment.
  • #207,610
  • Mar 7, 2010 8:01am Mar 7, 2010 8:01am
I am bullish for the week but watch out for any fundies about Europe.
Charts are on my blog.

 

  1. Resistance: 1.3650, 1.3712, 1.3745, 1.3800, 1.3894
  2. Support: 1.3620, 1.3531, 1.3428, 1.3388

  • #207,611
  • Mar 7, 2010 8:35am Mar 7, 2010 8:35am
I think you're spot on....weekly charts are beginning to show bullish sentiment...

Quoting ThePipsMaker
I am bullish for the week but watch out for any fundies about Europe.
Charts are on my blog.

 

  1. Resistance: 1.3650, 1.3712, 1.3745, 1.3800, 1.3894
  2. Support: 1.3620, 1.3531, 1.3428, 1.3388

In Charts We Trust!
  • #207,612
  • Mar 7, 2010 8:37am Mar 7, 2010 8:37am
The EURO is going to BEEP.....next few weeks...

Inserted Video
In Charts We Trust!
  • #207,613
  • Mar 7, 2010 9:05am Mar 7, 2010 9:05am
http://img694.imageshack.us/img694/4985/dibujoikx.jpg
  • #207,614
  • Mar 7, 2010 9:21am Mar 7, 2010 9:21am
i dont think there is anything for the bulls and the weekly candles they show some week hesitation and they are not strong reversal candles the close of all the dojis are around 1.3620 so we look to sell around 1.37 if it gets there . on ew count the correction to the upside is finished on 4h .
  • #207,615
  • Mar 7, 2010 9:29am Mar 7, 2010 9:29am
this is the count on it
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 15 KB
  • #207,616
  • Mar 7, 2010 10:19am Mar 7, 2010 10:19am
Quoting tonyo524
This is the 4th week you been yelling 1.4/1.5. Can we have it already? Seriously though before you start making the claim that proffessional money won't be selling euros, you might want to look at the last 4 cot reports. And that isn't assumption or speculation!
Haha, relax, take it easy, he knows Euro got to go up sometime.. and than he will say 'LOOK I SAID SO!!!'... lol
  • #207,617
  • Mar 7, 2010 11:04am Mar 7, 2010 11:04am
Quoting Mr Hatch
very interesting. if - in a historical view - all this turns out to be a conspiracy, let's compare greece's taxes to that of the other pigs as well. do you have any data on them or could point me to a more or less reliable source?
I googled Ireland taxes and came across this

http://www.worldwide-tax.com/ireland/ireland_tax.asp
Blogging daily now at www.volume.zone
  • #207,618
  • Mar 7, 2010 11:26am Mar 7, 2010 11:26am
Quoting tonyo524
This is the 4th week you been yelling 1.4/1.5. Can we have it already? Seriously though before you start making the claim that proffessional money won't be selling euros, you might want to look at the last 4 cot reports. And that isn't assumption or speculation!

1.5 is far out there and I did mention this.

I have been expecting a retracement to the 1.4000 zone based on a wave 4 retracement. This is 50 % of wave 3 and a pretty logical retracement zone. Elliot wave traders may be able to comment on this more. I have been buying off 1.3500 area as mentioned 2 weeks ago. Right now in this range both bulls and bears can win.

Typically is the trend is to continue then this wave should have happened by now instead we seem to be getting some form of basing pattern.

The 1.5 is if and only if this is in actual fact just a retracement of the 2008 low to 1.5100 high move. It could be based on both gu and eu charts and I have only just been mentioning that this week as Euro seems to be hanging out in this zone for so long, so I am not ruling this possibility out.

also here is cot report as of last week ... did you see this one yet Tony ? 2 x commercials are long than the shorts , non commercials are the ones that are heavy short still .... a short squeeze of those traders maybe on its way. Tony maybe you can tell me if the long to short ratio has been increasing or decreasing last 4 reports ?

EURO FX - CHICAGO MERCANTILE EXCHANGE Code-099741
FUTURES ONLY POSITIONS AS OF 03/02/10 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
--------------------------|-----------------|-----------------|-----------------
LONG | SHORT |SPREADS | LONG | SHORT | LONG | SHORT | LONG | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF EUR 125,000) OPEN INTEREST: 218,803
COMMITMENTS
35,894 102,664 1,725 135,287 66,049 172,906 170,438 45,897 48,365

CHANGES FROM 02/23/10 (CHANGE IN OPEN INTEREST: 10,329)
3,166 -1,687 2 88 9,096 3,256 7,411 7,073 2,918

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
16.4 46.9 0.8 61.8 30.2 79.0 77.9 21.0 22.1

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 145)
40 54 13 30 35 76 96
Blogging daily now at www.volume.zone
  • #207,619
  • Mar 7, 2010 11:33am Mar 7, 2010 11:33am
Do you have link to that COT info?
Quoting malcolmb14
1.5 is far out there and I did mention this.

I have been expecting a retracement to the 1.4000 zone based on a wave 4 retracement. This is 50 % of wave 3 and a pretty logical retracement zone. Elliot wave traders may be able to comment on this more. I have been buying off 1.3500 area as mentioned 2 weeks ago. Right now in this range both bulls and bears can win.

Typically is the trend is to continue then this wave should have happened by now instead we seem to be getting some form of basing pattern.

The 1.5 is if and only if this is in actual...
  • #207,620
  • Mar 7, 2010 11:37am Mar 7, 2010 11:37am
Tony

found the historical reports

looking at ONLY commerical here are the figures

9th feb long 120006 short 56636
16th feb long 119236 short 55730
23 feb long 135,199 short 56953
2nd march 135267 short 66,049

2nd march report there was a jump of 10,000 in the short positions on commercials. I will be interested to see what this week report looks like. However over all the trend is there is a 2:1 ratio of longs to shorts on commercials right now.

Quoting malcolmb14
1.5 is far out there and I did mention this.

I have been expecting a retracement to the 1.4000 zone based on a wave 4 retracement. This is 50 % of wave 3 and a pretty logical retracement zone. Elliot wave traders may be able to comment on this more. I have been buying off 1.3500 area as mentioned 2 weeks ago. Right now in this range both bulls and bears can win.

Typically is the trend is to continue then this wave should have happened by now instead we seem to be getting some form of basing pattern.

The 1.5 is if and only if this is in...
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