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  • #234,401
  • May 2, 2010 11:46am May 2, 2010 11:46am
Quoting gatorinla
its a blowout. its being pumped by natural pressure. they are talking about drilling a relief well on the side of the last one. this well is many miles deep....

We talked about this last week a little right after it hit the news...i had a feeling this was going to be bad man. i'd heard of those horizon rigs(huge $$ like 700 million a pop I think) so I figured this thing was pumping some oil, the shitty thing is I think they had just actually busted through the bottom when the explosion happened..when it hits shore, it gets real bad obviously.
We all just gotta pray somehow they get lucky with that robot and cap this thing. As gator says, relief well takes at least 2-3 months(2 is FLYING with zero issues). This DOES NOT guarantee anything as far as slowing this one down but it's the next best step so it's what they'll do...whether it works or not.
  • #234,402
  • May 2, 2010 11:51am May 2, 2010 11:51am
1.3322 at the moment, so it's going to gap up just a little for now, hope it spikes up soon so we can play on gap
  • #234,403
  • Edited 12:04pm May 2, 2010 11:52am | Edited 12:04pm
Quoting Mr Hatch
good evening.

from what i read, 110 billion euro are agreed on over the next ten years.

greece sacrifices include:

- working time increased from 37 to 40 years, before the highest pension-level can be achieved
- higher taxes, lower wages
- 13th&14th monthly income is cancelled for those earning more than 3000 euros or getting a pension higher than 2500 euros
- vat is increased once more from 21% to 23%
and so on, and so on...

welcome to life in ez, greece... and keep the olymp burning
I have it as 3 years not 10.

The austerity cuts aim to achieve fresh budget cuts of 30bn euros over three years - with the goal of cutting Greece's public deficit to less than 3% of GDP by 2014. It currently stands at 13.6%.


Measures include:

  1. Scrapping bonus payments for public sector workers
  2. Capping annual holiday bonuses and axing them for higher earners
  3. Banning increases in public sector salaries and pensions for at least three years
  4. Increasing VAT from 21% to 23%
  5. Raising taxes on fuel, alcohol and tobacco taxes by 10%
  6. Taxing illegal construction

The Greek economy is still deep in recession and on Sunday the government forecast that GDP would fall by 4% in 2010.

The country's national debt - currently at about 115% of GDP - would rise to 149% by 2013 before falling.

Yearly public deficit to less than 3% of GDP by 2014, but country's national debt would rise to 149% by 2013 before falling. Greece love their figures.

Have they seriously cleaned out their cupboard of all skeletons?

My view is that the current loan is a 3 year stop gap before the default! They are too ingrained in their ways. I discuss the issue on a daily basis with a Greek colleague at work who left the country in order to work in the UK. I won't bore you on the details why he left, but I am sure you can have an educated guess.

I also like this blog from the BBC's European Reporter -
http://www.bbc.co.uk/blogs/thereport.../gavin_hewitt/

  • #234,404
  • May 2, 2010 12:04pm May 2, 2010 12:04pm
Home work done for eu next week as per td counts .
http://www.forexfactory.com/showpost...9&postcount=86

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #234,405
  • May 2, 2010 12:04pm May 2, 2010 12:04pm
holy shit dude.. is this real?? 1.3343??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #234,406
  • May 2, 2010 12:08pm May 2, 2010 12:08pm
Quoting uraceulose
We talked about this last week a little right after it hit the news...i had a feeling this was going to be bad man....
still talking to a guy who was on the rig. he is giving up secrets slowly. he said they were gonna cap this well long before the explosion. if this is the case bp had plans on capping a viable well until the price of oil was high.. basically sex with the u.s. consumer. by not the putting oil on the market. seems they were gonna cap it till the price of oil went up. then re-tap later. we have capped wells all over u.s. doing the same thing. on the gulf floor they usually pour concrete over area then re-drill through it at a later time. my knowledge on wells this deep is limited.
those who can, do. those who cant, talk about those who can
  • #234,407
  • May 2, 2010 12:09pm May 2, 2010 12:09pm
Quoting bguguen
holy shit dude.. is this real?? 1.3343??

yes,

it is at 340 with 20p spread on Oanda
  • #234,408
  • May 2, 2010 12:10pm May 2, 2010 12:10pm
Quoting bguguen
holy shit dude.. is this real?? 1.3343??
where is that quote from?
  • #234,409
  • May 2, 2010 12:10pm May 2, 2010 12:10pm
Quoting ratman
yes,

it is at 340 with 20p spread on Oanda
ok
  • #234,410
  • May 2, 2010 12:15pm May 2, 2010 12:15pm
Quoting aykenar
where is that quote from?
touch the chart candle for the price there

http://fxtrade.oanda.com/
those who can, do. those who cant, talk about those who can
  • #234,411
  • May 2, 2010 12:19pm May 2, 2010 12:19pm
Quoting bguguen
holy shit dude.. is this real?? 1.3343??
Of course it is real. Greece has just been bailed this weekend. Where have you been?
  • #234,412
  • May 2, 2010 12:26pm May 2, 2010 12:26pm
Quoting bguguen
holy shit dude.. is this real?? 1.3343??
yes i said something was up last week and major news coming on weekend.

I do not even look at news , but each dip was being bought

1.3450 is my target for now then take it from there
Blogging daily now at www.volume.zone
  • #234,413
  • May 2, 2010 12:27pm May 2, 2010 12:27pm
Quoting bbakker
Of course it is real. Greece has just been bailed this weekend. Where have you been?
right i know bout Greece is bailed confirmed... but no known idea where debt might hit in EUROPE....

more countries in the list... this time big fellows like france could be next...

by the way im sort of interested whos Bull and Whos Bear here for the week..

Cuz im still bear...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #234,414
  • May 2, 2010 12:32pm May 2, 2010 12:32pm
Quoting bguguen
right i know bout Greece is bailed confirmed... but no known idea where debt might hit in EUROPE....

more countries in the list... this time big fellows like france could be next...

by the way im sort of interested whos Bull and Whos Bear here for the week..

Cuz im still bear...
average long $1.3266. still holding firm to $1.38884
  • #234,415
  • May 2, 2010 12:33pm May 2, 2010 12:33pm
Quoting malcolmb14
yes i said something was up last week and major news coming on weekend.

I do not even look at news , but each dip was being bought

1.3450 is my target for now then take it from there

this is how my technique works on higher time frames

and i do not read news ... thought something was brewing due to volumes.

http://www.forexfactory.com/showpost...stcount=233994
Blogging daily now at www.volume.zone
  • #234,416
  • May 2, 2010 12:33pm May 2, 2010 12:33pm
I continue to be bearish on EU.

The news about Greece is great for Greece but very bad for EZ. Now they will have bad debt spread throughout the system. With problems in many other EZ nations what will the total effect of this package be?

Anyway I think still a lot of things to be cleared up.

According to chart my point for turning bullish is above 1.38.
  • #234,417
  • May 2, 2010 12:34pm May 2, 2010 12:34pm
Market opened its EUR-USD rates with 1.3299 - 1.3304
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #234,418
  • May 2, 2010 12:37pm May 2, 2010 12:37pm
Quoting bguguen
right i know bout Greece is bailed confirmed... but no known idea where debt might hit in EUROPE....

more countries in the list... this time big fellows like france could be next...

by the way im sort of interested whos Bull and Whos Bear here for the week..

Cuz im still bear...
France Maybe you should go through this weekend's posts to this thread

I am long-term bear, but I am probably not a bear this week. Have a look at my chart -
http://www.forexfactory.com/showthre...96#post3688796

I think the bearish shooting star? was a load of bull, but I posted it before the Greece IMF/EU bailout! I will probably go long if it breaks 1.333. Lets see how it plays out!
  • #234,419
  • May 2, 2010 12:38pm May 2, 2010 12:38pm
http://news.yahoo.com/s/afp/20100502...financeeconomy

"Under the three-year deal, worth 146 billion dollars, Greece's 15 eurozone partners will provide 80 billion euros while 30 billion euros would come from the International Monetary Fund, a diplomatic source said."

ok, 30 Billion from the IMF, 17% of that from the USA is 5.1 Billion. Now since I am one of the ~50,000,000 US citizens who actually pay some tax, that means Greece owes me $102. Ima want that back, with interest. I will not take olives or furburger either.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #234,420
  • May 2, 2010 12:39pm May 2, 2010 12:39pm
Quoting mercy seat
Market opened its EUR-USD rates with 1.3299 - 1.3304
oh sooo this time FXstreet rates got totally thrown off?? cuz fxstree live rats at 1.3340..
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
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