EURUSD

nice one, I'm ready for new low

Nice development s there then , most likely with time. son heads up to save the mother from all culprits intra & inter & extra evils. Wish they success & get to life again & punish everybody responsible in the ultimate court of people.
fontu

I think E/U will get up around 1.2260 ish then E drop again in the next few hours.
Think G/U will reach around 1.4336 then G drop again.
Think U/CHF will turn around 1.1431
Think U/CAD will turn around 1.0371

Have done ok today ( for a demo kid ) shorting US in the 5-15 M while waiting for the 2-4H US retracement to be fully realised.

Thanks man, u know greeks haven't got a problem to work harder and pay more taxes so we get out of this bad situation. They just want justice: corrupt politicians, bankers and businessmen that have stollen all that big money, at least this time the guilty ones should go to jail.

looks like it might all turn sooner than I thought

The ones with the big money have already transfered it in Swiss along time ago.

yeah , why they do this . it is their country & save in time & those responsible should have done much earlier & flight ready 24 hr.
fontu

how do you get a clip from you tube to put on this?

Englands the same
but hopfully it doesnt get that bad

Greek PM says Greece is on top of things
As the government awaits the first vital tranche of a multi-billion-euro loan from the European Union today, Prime Minister George Papandreou stressed that the cash is not a bailout for Greece but a helping hand, which, along with a series of austerity measures, will get the debt-ridden country back on its feet.
“We are not begging for alms – we are asking for loans which will be repaid at high interest,” Papandreou told the German business daily Handelsblatt in an interview published yesterday.

hwo you get a video on you tube to this ?

U just copy paste the url adress.

http://i2.ytimg.com/vi/U5GIBMKOmLo/default.jpg

wow franky was evil this morning really f*cked up my lines and my morning trade(which I didnt take). At least one thing worked and that was me seeing the double top and its follow through. We have the same situation on a 5min chart as we had from the 16.05.10 on a 1hr chart (Bear flag or baby bull channel). Current max high 2247 and if my lines will now be respected max low 2195. The 15min looks like a feast for wave counters(which I am not) and anyone who is good in it please comment. Will wait till Europe opens and if lines are respected take long otherwise wait.

To just give u an idea of how corruption works in Greece i tell u this, yesterday minister of tourism resigned as came public her husband (famous greek singer and very rich) hasn't pay for 17 years now his dept of 5.5 million from taxes.

Gat: this was done in the great depression U.S. made money worthless, the only to get it back into the system

yes saw that on the newspaper yesterday, those things happen everywhere not only in Greece.

Anyone who still thinks that this is only a Greek (or a GIPS) crisis should take a look at this table, published three months ago, which shows that Greece is only 16th in external debt as % of GDP among developed countries, whereas Germany is 14th, with a slightly higher figure, believe it or not, France is 8th, and the UK is 3rd . As to structural deficit-to-GDP, it is higher in the US (7.8%) and the UK (7.6%) than it is in Greece (6.1%). See here.

Read more: http://www.creditwritedowns.com/2010...#ixzz0oM8gXWE3
Have the Greeks been “fiddling” with their statistics? Maybe they did. But we should also realize that no budget figures of any country can be dependable, credible, or comparable, and furthermore figures are easy to play with, as there are no standard, uniform, accounting rules for country budgets, and no surveillance whatsoever. Let me elaborate: Do the figures of any country include off-budget items, unfunded and contingent liabilities, future or deferred commitments, government guarantees, bank-insurance schemes, the debt/liabilities of public corporations, pension schemes and health systems? What about leasing and lease-backs? Are “top secret” expenditures for defence and intelligence activities included and shown in government budgets? Are expenditures presented when contracts are signed or when they will be paid for? Are revenues brought forward by factoring etc.?
What about swaps, securitisation and other gimmicks used to fiddle with the figures? Let’s look at the allegation that Greece used cross currency swaps to reduce its debt, and whether it is the only country that has used them. First of all, “swaps” and other “instruments of mass destruction” were not invented in Greece or promoted by Greeks. Secondly, the GS swap deal was not done before but after Greece had joined the EMU (in 2002). Thirdly, such swaps were at the time acceptable by the EU commission and the Eurostat, as the EU commission spokesman Amadeu Altafa declared in Brussels on Feb. 15th. Which other countries have used or were involved in swaps? Too many to even list them here, let alone to describe the boring details of the exact deals of each: Italy, Spain, Portugal, France, Belgium, UK, and Germany (yes), among others. Even Mr. Bernanke, in his testimony before the Committee on Financial Services on Feb. 10th, says that the Fed “entered into temporary currency swap agreements” and has used “reverse repos”.
ho is to blame? “Everyone is a sinner”, according to J. Stark, the ECB chief economist. I have also elaborated who some of the sinners are in this article. But the main sinners of course are the successive Greek governments. It is true that fiscal discipline has been lax. Steps to reduce the budget deficit should have been taken in the “good times”, i.e. in the years before the beginning of the Great Recession. Then, when the recession hit the country in 2007-8, stimulus measures were needed to prop up the economy, but they were not taken, perhaps because the country could not afford them. And now, in 2010, fiscal stabilization has to be carried out. Unfortunately, populist politicians did not realize what was happening or what they should be doing all these years, and they didn’t understand what the correct timing of each phase of economic policy should have been, and they did nothing to increase competitiveness, which is at the root of the problems. It was an unnecessary extravagance for Greece to organize the Olympic Games in 2004, at a cost that exceeded 10 b. euros. And Greece has a defense budget which is roughly one third of its deficit, primarily due to Turkish provocations in the Aegean Sea. One word to the supporters of speculators and naked CDSs: Nobody is saying that they have created the crisis, as most of them are trying to disprove. What sensible people are saying is that they are exacerbating the crisis.
Have the Greeks been living beyond their means? Here is the answer:
http://images.creditwritedowns.com.s...tion_thumb.png

yh but not with 5,5 million