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  • #220,001
  • Apr 2, 2010 11:41am Apr 2, 2010 11:41am
Quoting jsspmk
But even if there was a sl you would have gotten a massive slip, no?
that could happen to any of us then.. ouch...
those who can, do. those who cant, talk about those who can
  • #220,002
  • Edited 11:51am Apr 2, 2010 11:41am | Edited 11:51am
EDIT: The last time they raised the discount rate (Feb. 18th) the EU fell 181 pips in 3hrs (125 in the first hour), and the dow fell 119 points... Keep in mind it happened in after hours trading last time (around 5pm est). This could be the hammer to begin an Equity correction from this massive upmove we've had.

A little info on that Fed ordeal coming:
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  • #220,003
  • Apr 2, 2010 11:49am Apr 2, 2010 11:49am
Quoting jsspmk
Ditto

Jeg er enig

Jeg er stadig kigger på kort Eurusd


source: Google Translate )
  • #220,004
  • Apr 2, 2010 11:51am Apr 2, 2010 11:51am
Quoting gatorinla
it been talked about over a month since the last overnight rate hike. its not what is thought of as a "fed rate hike". mmccormic was the first to tell me.
What will it be called then? I don't imagine that they would be meeting just to maintain the status quo. Am I missing something?
  • #220,005
  • Apr 2, 2010 11:51am Apr 2, 2010 11:51am
Quoting gatorinla
that could happen to any of us then.. ouch...
Ahh not necessarily, all depends on stop placement wouldn't you agree? Trouble is daytraders tend to have very tight stops or within 'the noise', stops placed outside the noise are hardly ever triggered by spiky price action. I am of an opinion that daytraders ought to not trade during times like today. Even fading spikes can be tricky as in today's example. And I am not even bringing in matters like feed freezing, broker not answering telephone straight away, power cuts, ping latency issues, etc.
Prices oscillate, trends persist. Trend is your friend.
  • #220,006
  • Apr 2, 2010 11:51am Apr 2, 2010 11:51am
Quoting gatorinla
critical time after this bounce atm.. if so we go deep. these will be little rest and bounce ares. #3 3485 is close to #2 ..(not hit yet).... #4 3437 would be next big target #4 st. i usually only use #1 to say trend has resumed. #4 would be a real strong indication based on pa not the level.
i would be a happy camper if slip from 3437 stops at 3422. for its normal bounce... another is 3402...
those who can, do. those who cant, talk about those who can
  • #220,007
  • Apr 2, 2010 11:55am Apr 2, 2010 11:55am
Yesterday's LOW hasn't been taken out unfortunately today.
Prices oscillate, trends persist. Trend is your friend.
  • #220,008
  • Apr 2, 2010 11:55am Apr 2, 2010 11:55am
Quoting fishertodd
What will it be called then? I don't imagine that they would be meeting just to maintain the status quo. Am I missing something?

I just posted a picture of the offical wording above or click here.
  • #220,009
  • Apr 2, 2010 11:57am Apr 2, 2010 11:57am
Quoting jsspmk
Yesterday's LOW hasn't been taken out unfortunately today.
A close below the weekly open would be ok (3472), but taking out both would be helpful.
  • #220,010
  • Apr 2, 2010 11:59am Apr 2, 2010 11:59am
Quoting mmccormac
EDIT: The last time they raised the discount rate (Feb. 18th) the EU fell 181 pips in 3hrs (125 in the first hour), and the dow fell 119 points... Keep in mind it happened in after hours trading last time (around 5pm est). This could be the hammer to begin an Equity correction from this massive upmove we've had.

A little info on that Fed ordeal coming:
..can anyone post a link for this meeting announcement - I don't see it on the Fed website.

Could be an April Fool's prank.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #220,011
  • Apr 2, 2010 12:00pm Apr 2, 2010 12:00pm
Quoting fishertodd
What will it be called then? I don't imagine that they would be meeting just to maintain the status quo. Am I missing something?

I'm pretty sure what he means is that they more than likely will leave the fed funds rate alone and just hike the discount rate again. should still cause waves tho
  • #220,012
  • Apr 2, 2010 12:02pm Apr 2, 2010 12:02pm
Quoting The Fool
..can anyone post a link for this meeting announcement - I don't see it on the Fed website.

Could be an April Fool's prank.

http://www.federalreserve.gov/boardd...dvancedexp.htm
  • #220,013
  • Apr 2, 2010 12:02pm Apr 2, 2010 12:02pm
Quoting fishertodd
What will it be called then? I don't imagine that they would be meeting just to maintain the status quo. Am I missing something?
easily confused
This is not the Fed Funds level set at 0.00% to 0.25%.
its just a st rate to carry banks overnight ect. is my understanding. it happend about a month back and the markets were confused then also. if it is the fed fund rate this is huge.. but i doubt it is ..
those who can, do. those who cant, talk about those who can
  • #220,014
  • Apr 2, 2010 12:04pm Apr 2, 2010 12:04pm
Quoting gatorinla
easily confused
This is not the Fed Funds level set at 0.00% to 0.25%.
its just a st rate to carry banks overnight ect. is my understanding. it happend about a month back and the markets were confused then also. if it is the fed fund rate this is huge.. but i doubt it is ..
Well they can do whatever they want but I can't remember them ever raising the actual rates outside of the normal monthly announcement time.

Edit: That being said people will be looking over the Meeting Minutes on Tuesday very closely... If there's anything in there about raising rates watch out... The release date on actual rates for next month is here: http://www.forexfactory.com/calendar...=2010-4-28&c=2
  • #220,015
  • Apr 2, 2010 12:06pm Apr 2, 2010 12:06pm
Quoting manojsai
a small bounce expected at 3422
i get a semi there with bounce
those who can, do. those who cant, talk about those who can
  • #220,016
  • Apr 2, 2010 12:08pm Apr 2, 2010 12:08pm
Quoting mmccormac
Well they can do whatever they want but I can't remember them ever raising the actual rates outside of the normal monthly announcement time.
i think they did it once or twice during the 2008 crises.
those who can, do. those who cant, talk about those who can
  • #220,017
  • Apr 2, 2010 12:10pm Apr 2, 2010 12:10pm
Quoting gatorinla
i think they did it once or twice during the 2008 crises.
Oh that's true. Well given that the release date on schedule for rate announcements is almost a month later I guess it's possible.

Edit: They could also give a strong rise in discount and that would cause some major selling also.

Edit2: If you're looking at the other side of the coin on the job numbers (Sky) then you might say most of those were census workers so you could look at it in a negative way as well. We'll see how it fairs next week but the Fed's could throw some gas on this fire with a strong statement and some surprise rate increases.
  • #220,018
  • Apr 2, 2010 12:13pm Apr 2, 2010 12:13pm
It does smell like they will raise or perhaps leave discount rate as it is, very unlikely they will reduce it after raising it not that long ago. Need to dig out info on the net what journalists make of that meeting.
Prices oscillate, trends persist. Trend is your friend.
  • #220,019
  • Apr 2, 2010 12:14pm Apr 2, 2010 12:14pm
Quoting jsspmk
Ahh not necessarily, all depends on stop placement wouldn't you agree? Trouble is daytraders tend to have very tight stops or within 'the noise', stops placed outside the noise are hardly ever triggered by spiky price action. I am of an opinion that daytraders ought to not trade during times like today. Even fading spikes can be tricky as in today's example. And I am not even bringing in matters like feed freezing, broker not answering telephone straight away, power cuts, ping latency issues, etc.
been there.. lost power/internet in a snow storm for over a week 2009. months after katrina. and a couple of weeks the hurricane a couple of summers ago.
those who can, do. those who cant, talk about those who can
  • #220,020
  • Apr 2, 2010 12:15pm Apr 2, 2010 12:15pm
with oil and other commodities prices climbing pressure is increasing on the Fed to move to a funds rate increase. Mix that buzz with a few more PIIGs related ill winds and the euro rally will be nipped in the bud
"If The Fool persists in his Folly he will become wise." - William Blake
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