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Cable Update (GBPUSD)

  • #227,381
  • May 18, 2010 3:38pm May 18, 2010 3:38pm
Quoting forexlion
http://img683.imageshack.us/img683/6893/zipper.jpg

is that where you keep your brain fxlion?

PS I like your new avatar.
******************* I'd rather make money than be right.
  • #227,382
  • May 18, 2010 3:38pm May 18, 2010 3:38pm
Quoting 4xStar
The NY Dow? I thought once it closed at 4pm NY time, it was closed until 9:30 am next morning .. you are saying it opens again after hours? That's the first I've heard of that...

yes it dos but the dow futures stay open 24hours
  • #227,383
  • May 18, 2010 3:40pm May 18, 2010 3:40pm
i am impressed on how low the cable and euro have gone down

these numbers are so so bad for the global economy

seems nothing holding the downturn
  • #227,384
  • May 18, 2010 3:40pm May 18, 2010 3:40pm
Not sure what to make of this PA .. normally tokyo retraces the us move and this hammering today was also news driven so there should be a healthy retracement .. but it just doesn't feel that way at least not yet. I'd love another chance to get into fibre but not sure it will be offered.
******************* I'd rather make money than be right.
  • #227,385
  • May 18, 2010 3:40pm May 18, 2010 3:40pm
Quoting kill56
yes it dos but the futures stay open 24hours
Oh, ok .. got it
******************* I'd rather make money than be right.
  • #227,386
  • May 18, 2010 3:41pm May 18, 2010 3:41pm
Quoting adrianebn
i am impressed on how low the cable and euro have gone down

these numbers are so so bad for the global economy

seems nothing holding the downturn
these numbers are what EZ needs...to maybe survive.
  • #227,387
  • May 18, 2010 3:44pm May 18, 2010 3:44pm
Quoting 4xStar
The NY Dow? I thought once it closed at 4pm NY time, it was closed until 9:30 am next morning .. you are saying it opens again after hours? That's the first I've heard of that...

futures market is open 24 hours other than I tink a 2 hr window about now.

The YM , big dow and es are always on the move ...awesome day today once yesterdays close was tested and test failed on ES
Blogging daily now at www.volume.zone
  • #227,388
  • May 18, 2010 3:45pm May 18, 2010 3:45pm
i must admit i was under the impression that cable would not move below 1.45 as this was already too low for the sterling

...but was dime wrong, the economy hitting a shallow end,

for example usualy the asian session moves cable down some 40/50 pips until goes up again, how can it go down more then the current 14320, gosh

Quoting uraceulose
these numbers are what EZ needs...to maybe survive.
  • #227,389
  • May 18, 2010 3:47pm May 18, 2010 3:47pm
Quoting 4xStar
Not sure what to make of this PA .. normally tokyo retraces the us move and this hammering today was also news driven so there should be a healthy retracement .. but it just doesn't feel that way at least not yet. I'd love another chance to get into fibre but not sure it will be offered.
1,4500 was heavily sold on 60 min both yesterday and today .. aka distribution . I do not post much anymore as there is a lot of nonsense posts and a billion posts to get thru . also very busy trading

any way bear flags have broken in both gj and gu

GJ last week had a 700 pip week , this weeks high 134.80 that puts us in the 128 area by end of week and if ES can break 1100 then down we go to 1060 test if this breaks 950

GU my target is 4160 for now , but may touch 4000
Blogging daily now at www.volume.zone
  • #227,390
  • May 18, 2010 3:50pm May 18, 2010 3:50pm
Quoting adrianebn
i must admit i was under the impression that cable would not move below 1.45 as this was already too low for the sterling

...but was dime wrong, the economy hitting a shallow end,

for example usualy the asian session moves cable down some 40/50 pips until goes up again, how can it go down more then the current 14320, gosh
maybe not gbp but usd

the us index have very hihg volaitlity this happens only at tops and bottoms of market. ES is not at a market top so I can only figure that we are going to see a very alrage correction in the markets . when US indexes come down USD gets stronger and majors will drop.
Blogging daily now at www.volume.zone
  • #227,391
  • May 18, 2010 3:52pm May 18, 2010 3:52pm
Quoting malcolmb14
1,4500 was heavily sold on 60 min both yesterday and today .. aka distribution . I do not post much anymore as there is a lot of nonsense posts and a billion posts to get thru . also very busy trading

any way bear flags have broken in both gj and gu

GJ last week had a 700 pip week , this weeks high 134.80 that puts us in the 128 area by end of week and if ES can break 1100 then down we go to 1060 test if this breaks 950

GU my target is 4160 for now , but may touch 4000
Season ?? ....
  • #227,392
  • May 18, 2010 3:56pm May 18, 2010 3:56pm
could u please explain more as in for a big market correction?


Quoting malcolmb14
maybe not gbp but usd

the us index have very hihg volaitlity this happens only at tops and bottoms of market. ES is not at a market top so I can only figure that we are going to see a very alrage correction in the markets .
  • #227,393
  • May 18, 2010 3:57pm May 18, 2010 3:57pm
think its possible to hit 4160 or even 4000?

Quoting malcolmb14
1,4500 was heavily sold on 60 min both yesterday and today .. aka distribution . I do not post much anymore as there is a lot of nonsense posts and a billion posts to get thru . also very busy trading

any way bear flags have broken in both gj and gu

GJ last week had a 700 pip week , this weeks high 134.80 that puts us in the 128 area by end of week and if ES can break 1100 then down we go to 1060 test if this breaks 950

GU my target is 4160 for now , but may touch 4000
  • #227,394
  • May 18, 2010 4:02pm May 18, 2010 4:02pm
Quoting malcolmb14
futures market is open 24 hours other than I tink a 2 hr window about now.

The YM , big dow and es are always on the move ...awesome day today once yesterdays close was tested and test failed on ES

i hope u did well on es

i think we will visit below 10000 in the dow what do u say
  • #227,395
  • May 18, 2010 4:05pm May 18, 2010 4:05pm
Quoting adrianebn
i am impressed on how low the cable and euro have gone down

these numbers are so so bad for the global economy
This numbers are good for europe.
Europeans are finally learning the old american trick
  • #227,396
  • May 18, 2010 4:10pm May 18, 2010 4:10pm
dow is getting hammerd after closing new lows
  • #227,397
  • May 18, 2010 4:12pm May 18, 2010 4:12pm
Great news for GU & GJ shorts but looks like if I want to get into fibre I'll need to take any meager retrace offered ... let's see what tokyo does.

Quoting malcolmb14
1,4500 was heavily sold on 60 min both yesterday and today .. aka distribution . I do not post much anymore as there is a lot of nonsense posts and a billion posts to get thru . also very busy trading

any way bear flags have broken in both gj and gu

GJ last week had a 700 pip week , this weeks high 134.80 that puts us in the 128 area by end of week and if ES can break 1100 then down we go to 1060 test if this breaks 950

GU my target is 4160 for now , but may touch 4000
******************* I'd rather make money than be right.
  • #227,398
  • May 18, 2010 4:16pm May 18, 2010 4:16pm
Quoting 4xStar
Great news for GU & GJ shorts but looks like if I want to get into fibre I'll need to take any meager retrace offered ... let's see what tokyo does.
japanese cant jump chainese do
  • #227,399
  • May 18, 2010 4:22pm May 18, 2010 4:22pm
Quoting kill56
dow is getting hammerd after closing new lows
It was a little over a year ago the DOW to a dump and the GBP went as low as around 135... bring it all down
  • #227,400
  • May 18, 2010 4:23pm May 18, 2010 4:23pm
Quoting adrianebn
could u please explain more as in for a big market correction?
today the banking sector dropped , pulling the stock market down with them, due to reforms being proposed in Senate . I wonder why lol... I will tell you why
CAUSE THEY ARE LYING AND HIDING THIER LOSSES.

How ?? This is an easy one. 2008 markets were tanking and banks taking a beating. Housing sector tanking. At that time we had mark to market .

What is mark to market ? In a nut shell in 2008 it used to be that if a bank made a loan against an asset it worked like this :

Loan :400 k , asset value 450 k .. equity in asset if laon goes to default 50 k

asset drops to 250 k , loan 450 k , bank has to report a loss of 200 k when mark to market rules were enforced .

NOw late 2008 someone ( aka Heli Ben) had the bright idea they needed to prop up the banking sector .. so one easy way ' hey we will abolish mark to market' , so now that loss of 200 k that you used to have to report can be reported in books as an asset of 400k ( original value ) if you are willing to hold on to it until the asset comes back to its original value. This makes the situation look a million time better than it really is. In fact there is still a loss in value of the asset of 200 k and the asset is now still worth less than the loan even if a bit of creative financing does not make it seem this way.

THIS IS JUST THE BANKS LYING TO BOTH THEMSELVES AND US.

Did anyone know that the highest record of foreclosures ever in the US was only 2 months ago ?..yet the bsers on the news say that the housing market is recovering. 300,000 foreclosures and loan defaults per month , very conservative 50% of these foreclosures at 100,000 k loss on asset = 15 billion loss to the banking sector each month ( likely more like 30 to 50 billion) BUT GUESS WHAT FOLKS THE BANKS DO NOT HAVE TO REPORT THESE LOSSES DUE TO MARK TO MARKET RULING BEING ABOLISHED AND THE TO BIG TO FAIL. However how long is a house that is now 50 k going to rcover back to its precrash value ? 10 years ? 20 years ... never ? A LOSS IS A LOSS .

Now to the index and why these reforms are making the market jittery today ....weekly tl broken and tested.... massive bear div rsx ( last time this was seen was 14400 dj) . target MIN 865 and maybe test of lows

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