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  • #240,621
  • May 11, 2010 7:28pm May 11, 2010 7:28pm
Whoa... back to the central pivot and M2 (2658/60) maybe we'll see that DP (2706) yet but the QP/psych level at 2680 has to go first.

Meanwhile back at the ranch.... upper bb on the 5m (also 2660ish). Longs, Don't bump your head on the ceiling here...

Add on short at xx54. small order and stops above the xx82 QP

Attached Image
FUBAR...
  • #240,622
  • May 11, 2010 7:36pm May 11, 2010 7:36pm
Its so tough for it to climb up yet so easily and swiftly drops back down! Hows that for PA!
Former Trader Of the Year of the 95% losing club! Retired
  • #240,623
  • May 11, 2010 7:39pm May 11, 2010 7:39pm
Quoting ak4x
Whoa... back to the central pivot and M2 (2658/60) maybe we'll see that DP (2706) yet but the QP/psych level at 2680 has to go first.

Meanwhile back at the ranch.... upper bb on the 5m (also 2660ish). Longs, Don't bump your head on the ceiling here...

Add on short at xx54. small order and stops above the xx82 QP

Attachment
AK you have such beautiful charts
  • #240,624
  • May 11, 2010 7:41pm May 11, 2010 7:41pm
Where are the defenders?
"the speculators will be sorry they ever bet against the EZ"
Zarkozy. hahahahahaah
  • #240,625
  • May 11, 2010 7:49pm May 11, 2010 7:49pm
Quoting ak4x
hey, if you gotta stare at the things all the time, might as well pretend it's the 60's again...
, I love all the cool colors and little magenta smurfs. Wait there are no smurfs..

(Really just wanted to hi Ak hope you are having a wonderful day.. How is Acumen doing..)
  • #240,626
  • May 11, 2010 7:56pm May 11, 2010 7:56pm
Eurusd starts to be a bit hard to scalp because its almost one way pair atm
They think they are smarter than I am.
  • #240,627
  • May 11, 2010 8:25pm May 11, 2010 8:25pm
Quoting ak4x
Whoa... back to the central pivot and M2 (2658/60) maybe we'll see that DP (2706) yet but the QP/psych level at 2680 has to go first.

Meanwhile back at the ranch.... upper bb on the 5m (also 2660ish). Longs, Don't bump your head on the ceiling here...

Add on short at xx54. small order and stops above the xx82 QP

Attachment
Adjusting entry to short at 2680 but half my risk and keeping sl at 2720 just in case. the qp held the last time I went for this and price missed my entry. Behold the mighty QP
Attached Image
Founder of Sutherland Wave Principle
  • #240,628
  • May 11, 2010 8:36pm May 11, 2010 8:36pm
Quoting wwwin
Where are the defenders?
"the speculators will be sorry they ever bet against the EZ"
Zarkozy. hahahahahaah
there are few defenders. but also not enough gravity atm.. if it was just the eu i would just take notice. but on there are a bunch bull wedges on many eu pairs. anyway if you draw them they could be a good short entry for those on the side line. i kinda think we will blow a hole in the bottom tl... but experience has taught me not to ignore a wedge they seldom lie. so at the next lower tl touch i may take a few off the table and wait for a bounce.
those who can, do. those who cant, talk about those who can
  • #240,629
  • May 11, 2010 8:39pm May 11, 2010 8:39pm
Quoting PipLand
you are wise to be sceptical. Think DOT COm bubble and many many more, some examples;

Cable at 1.35 was apparently going straight to Parity.
Oil over $145 was "destined" for $200.
E/U in 2008 was heading straight for parity.

It certainly rings alarm bells with me when everyone is long or short
Most one-way sentiment examples such as oil $200 or dot-com fly in the face of reason. Euro dropping further does not. The euro has so far fallen on only part of the EU problem, which itself is only part of the global problem. I think the last two weeks have shown signs of an upcoming global dip (my opinion Thurs was just a wakeup call for anyone not paying attention), and I can't imagine how the Euro will maintain its current price under such conditions.
  • #240,630
  • May 11, 2010 8:49pm May 11, 2010 8:49pm
Quoting Mr J
Most one-way sentiment examples such as oil $200 or dot-com fly in the face of reason. Euro dropping further does not. The euro has so far fallen on only part of the EU problem, which itself is only part of the global problem. I think the last two weeks have shown signs of an upcoming global dip (my opinion Thurs was just a wakeup call for anyone not paying attention), and I can't imagine how the Euro will maintain its current price under such conditions.
Well, the Defenders, more particularly Germany has not approved the EZ bailout, nothing has been done by the Defenders except talk crap. Why do you think rating agancies are going to downgrade Greece and Portugal again? If the money was there why downgrade?
In the meantime, the swap line from US has been feeding the demand for dollars, and still the Euro goes does vs. the dollar.
The Defenders need action, not talk, and the Germany parliament may not even approve this bailout, they are seeing what happened to Merkel's coalition for orally agreeing to it.
  • #240,631
  • May 11, 2010 8:57pm May 11, 2010 8:57pm
Quoting wwwin
Well, the Defenders, more particularly Germany has not approved the EZ bailout, nothing has been done by the Defenders except talk crap. Why do you think rating agancies are going to downgrade Greece and Portugal again? If the money was there why downgrade?
In the meantime, the swap line from US has been feeding the demand for dollars, and still the Euro goes does vs. the dollar.
The Defenders need action, not talk, and the Germany parliament may not even approve it this bailout, they are seeing what happened to Merkel's coalition for orally agreeing...
for some reason everyone is blind to think ez wants the euro higher. they are fighting for their life just to save the euro. oh and their own job.. saving the euro has nothing to do with keeping it higher. in fact just the fact they will have to print is negative value toward euro. oh and its all about the banks.. its not about the euro..the imf will rape Europe..
those who can, do. those who cant, talk about those who can
  • #240,632
  • May 11, 2010 9:08pm May 11, 2010 9:08pm
This came across my science headline feed today. Thought it was interesting, particularly the last two sentences:

In their letter to George Soros of March 17, 2010, leaders within the econophysics community point out that "The financial crisis has not only created huge financial losses. It has damaged the economic system to an extent that several countries are at the verge of bankruptcy, and social systems have become dangerously vulnerable. The problems we have seen may just be the beginning of a larger crisis. The situation may totally get out of control, endangering social peace and cultural achievements."

Actually it appears Soros is taking this group very seriously and they have made some significant predictions.
  • #240,633
  • May 11, 2010 9:14pm May 11, 2010 9:14pm
Quoting Protogenos
This came across my science headline feed today. Thought it was interesting, particularly the last two sentences:

In their letter to George Soros of March 17, 2010, leaders within the...
By sending it to Soros I assume they're blaming banks, the market, speculators etc, rather than themselves, their neighbours and their governments?
  • #240,634
  • May 11, 2010 9:14pm May 11, 2010 9:14pm
Quoting gatorinla
for some reason everyone is blind to think ez wants the euro higher. they are fighting for their life just to save the euro. oh and their own job.. saving the euro has nothing to do with keeping it higher. in fact just the fact they will have to print is negative value toward euro. oh and its all about the banks.. its not about the euro..the imf will rape Europe..
Right, what's the big deal about Euro at 1.20 or 1 or even lower? It has been there before, and in fact, it is only during that last 2 or 3 years that it has been steadily above 1.20. So as I said before, the rate for the Euro is not the problem, the problem is that this PIGS cannot pay the debts. And as the father of the Euro said, "Italy will be a much bigger problem than Greece, because their share of the overall EZ economy is much bigger".
UNLIMITED acces to dollars swap line, and it continues to get stronger. Hmm? Why is UNLIMITED access to dollars not enough?
Only dreamers think that it will not go much lower.
  • #240,635
  • May 11, 2010 9:16pm May 11, 2010 9:16pm
Quoting gatorinla
for some reason everyone is blind to think ez wants the euro higher. they are fighting for their life just to save the euro. oh and their own job.. saving the euro has nothing to do with keeping it higher. in fact just the fact they will have to print is negative value toward euro. oh and its all about the banks.. its not about the euro..the imf will rape Europe..
So, who wants a HIGHER Euro besides The FED and major USA companies like Catepillar and Coke that do more business in Europe?
  • #240,636
  • May 11, 2010 9:20pm May 11, 2010 9:20pm
Quoting gatorinla
for some reason everyone is blind to think ez (US) wants the euro (DOLLAR) higher. they are fighting for their life just to save the euro (DOLLAR). oh and their own job.. saving the euro (GREENBACK) has nothing to do with keeping it higher. in fact just the fact they will have to print is negative value toward euro (DOLLAR). oh and its all about the banks (yes...BIG BANKS).. its not about the euro (DOLLAR)..the imf (FED) will rape Europe (the good ol' US of A)..
Si vis pacem, para bellum.
  • #240,637
  • May 11, 2010 9:26pm May 11, 2010 9:26pm
Quoting wwwin
Right, what's the big deal about Euro at 1.20 or 1 or even lower? It has been there before, and in fact, it is only during that last 2 or 3 years that it has been steadily above 1.20. So as I said before, the rate for the Euro is not the problem, the problem is that this PIGS cannot pay the debts. And as the father of the Euro said, "Italy will be a much bigger problem than Greece, because their share of the overall EZ economy is much bigger".
UNLIMITED acces to dollars swap line, and it continues to get stronger. Hmm? Why is UNLIMITED access...
hey take my word for it.. France is in no better shape... and even mighty Germany.. Hell even japan.. and YES china is a bubble.. 20 years into the rule of 72 ....

this may be of interest..

News message h3 { font-size:14px; } p { font-size:12px; } [JAPAN] continues to express its intent of not becoming the next Greece, despite its mounting debt problems which are expected to hit 200% of GDP in the next year. It was senior MOF official Kaizuka's turn to hit the wires today, saying it is illogical Japan will not become the next Greece with Japans problems different. However like the Fin Min yest, Kaizuka says Greece's problems provide a lesson for Japan and says it must improve its fiscal conditions. The MOF official adds that he sees a greater advantage in issuing longer dates bonds in view of the low ylds. 02:04 GMT - [USD/CAD] was biddish during the Asian session as Asian stocks traded in a sea of red after China's CPI came in at a hotter than expected 2.8% y/y stoking fears of tighter monetary policy. The pair rose to the day's high of 1.0289 in late Asian trade before turning south to reach an o/n low of 1.0149 buoyed by good selling in the Eur/Cad cross by a US name and fund type. However, crude oil trading below the $76 level tempered the Loonie's rise somewhat although market speculation of a June rate hike by the BOC will keep the Loonie flying high. Canadian merchandise trade and new housing price index due later today. On the day buying orders at 1.0150 by Canadian importers will provide support and selling orders at 1.0255 by intraday specs will keep the range.
those who can, do. those who cant, talk about those who can
  • #240,638
  • May 11, 2010 9:28pm May 11, 2010 9:28pm
look at it this way...gator simply meant the world is in touble.
and theres nothing we could do abt it.

this will typically mean gold at 2000
  • #240,639
  • May 11, 2010 9:29pm May 11, 2010 9:29pm
Quoting jest1081
look at it this way...gator simply meant the world is in touble.
and theres nothing we could do abt it.
Sure there is. It's called stocking up on: mre's, water, batteries, and ammo.
  • #240,640
  • May 11, 2010 9:31pm May 11, 2010 9:31pm
Quoting PriceVolume
Sure there is. It's called stocking up on: mre's, water, batteries, and ammo.
ww3 ?
it appears to me you guys are betting that the whole financial system will crumble...

if thats the route, you know what to do.
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