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  • #267,281
  • Jul 5, 2010 8:50pm Jul 5, 2010 8:50pm
Quoting manojsai
Still riding my shorts from 2500 and added shorts from 2591...

2525 is a point of resistance in my chart.
i expect the drift untill 2476 and then bounce to 2525.
All my shorts closed for profit and long since 2480 with target 2539 stoploss is tight.
  • #267,282
  • Jul 5, 2010 8:56pm Jul 5, 2010 8:56pm
Quoting 4xmaker
The Chinese government has been for years used Hong Kong's HKD to finance a lot of forex transactions, and act as a "firewall" to major 'players' that can disrupt currency values.
how does that work?
  • #267,283
  • Jul 5, 2010 8:56pm Jul 5, 2010 8:56pm
Quoting gatorinla
it is what it is.
Yeah I guess so, it seems so.....ummmm.....primary school thinking to behave in that manner. Imagine if the rest of the world had this Swiss mentality...what a clusterfuk that would cause....and, at the end of the day, apart from holding other peoples money and a few wristwatches, the Swiss aren't really a big player......perhaps they would like to be?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #267,284
  • Jul 5, 2010 8:59pm Jul 5, 2010 8:59pm
Quoting 4xmaker
The Chinese government has been for years used Hong Kong's HKD to finance a lot of forex transactions, and act as a "firewall" to major 'players' that can disrupt currency values.
I think the Chinese are a slightly differnet kettle of fish though.....it's very difficult to draw an analogy because China playes very much by it's own set of rules for it's own hidden agenda
Doing what you like is Freedom. Liking what you do is Happiness.
  • #267,285
  • Jul 5, 2010 9:03pm Jul 5, 2010 9:03pm
Quoting realjumper
Yeah I guess so, it seems so.....ummmm.....primary school thinking to behave in that manner. Imagine if the rest of the world had this Swiss mentality...what a clusterfuk that would cause....and, at the end of the day, apart from holding other peoples money and a few wristwatches, the Swiss aren't really a big player......perhaps they would like to be?
they are just a pimple on the euros ass. they had said they were not going to intervene months back. was it them or the market talking? i don't think this will turn out good.
those who can, do. those who cant, talk about those who can
  • #267,286
  • Jul 5, 2010 9:06pm Jul 5, 2010 9:06pm
gold and oil have slipped further.
those who can, do. those who cant, talk about those who can
  • #267,287
  • Jul 5, 2010 9:29pm Jul 5, 2010 9:29pm
Quoting n00b.
how does that work?
You can't buy Chinese currencies in whatever quantities you want even if you had the money to. The government issues limited amount of licenses for institutions and with quotas. Typically the limit for individuals are very low, but the recent Expo 2010 in Shanghai, has been moved up to around 100K USD. Before was below 10K, and you have to register and such. Nevertheless, Hong Kong's Hong Kong Dollar has been pegged to USD for many decades, and the RMB (china's currency) has a slightly movable rate towards the HKD.

You can exchange HKD to buy RMB and vice versa in Hong Kong.

Hong Kong back in '97 had a Huge currency reserve for such a small city and has been a major financial hub before and after 97. Because of that, a lot of currency exchanges effectively goes through Hong Kong cause its now part of China, and HKD is freely exchanged and can be prone to speculations but highly unlikely now due to the 'immediate' government intervention in the Asian financial crisis.

So, letting the HKD to stand in the front to withstand any weather, the RMB can enjoy an easy macro control and slowly using the huge currency reserve to "pay" for any problems of manipulations.
  • #267,288
  • Jul 5, 2010 9:55pm Jul 5, 2010 9:55pm
Eurozone banks Stress free stress test results, opening date, July 23rd on a chart near you.

http://www.telegraph.co.uk/finance/c...ers-worse.html
Not all sins are created equal
  • #267,289
  • Jul 5, 2010 10:07pm Jul 5, 2010 10:07pm
Quoting PipMaxzz
Seems to be hit the support. time to go long?
I said time to go long at 80... looking at the support. I think technicals do work sometimes. Anyway I did not go long as I trusted fundamentals
Anyway I will look for the short entry at 30, the resistance line I can see on my chart
  • #267,290
  • Jul 5, 2010 10:16pm Jul 5, 2010 10:16pm
Quoting PipMaxzz
I said time to go long at 80... looking at the support. I think technicals do work sometimes. Anyway I did not go long as I trusted fundamentals
Anyway I will look for the short entry at 30, the resistance line I can see on my chart
learn to trust in your trading system or strategy...
if u believe ur strategy is well planned, implement it dude
If only,.....
  • #267,291
  • Jul 5, 2010 10:18pm Jul 5, 2010 10:18pm
Quoting ikhram
learn to trust in your trading system or strategy...
if u believe ur strategy is well planned, implement it dude
Sounds good. thanks
  • #267,292
  • Jul 5, 2010 10:19pm Jul 5, 2010 10:19pm
Quoting fakeout
I'm not sure how to draw these.
See chart:
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4H.png Size: 287 KB
  • #267,293
  • Jul 5, 2010 10:20pm Jul 5, 2010 10:20pm
closing my longs at every candle and putting in my shorts.
  • #267,294
  • Jul 5, 2010 10:24pm Jul 5, 2010 10:24pm
Quoting manojsai
closing my longs at every candle and putting in my shorts.
really? extreme scalping manoj... as long as u took profit, then it's great
If only,.....
  • #267,295
  • Jul 5, 2010 10:27pm Jul 5, 2010 10:27pm
Quoting Jay Walker
Eurozone banks Stress free stress test results, opening date, July 23rd on a chart near you.

http://www.telegraph.co.uk/finance/c...ers-worse.html
Tks man, pretty good info! I particullary loke this:

Hans Redeker from BNP Paribas said the EU authorities are damned if they do, and damned if they don’t. “The are afraid of provoking another shockwave in the market if they even talk about debt-restructuring, but it will be a hard sell to markets if they don’t.”
  • #267,296
  • Jul 5, 2010 10:30pm Jul 5, 2010 10:30pm
Quoting maurofx
Tks man, pretty good info! I particullary loke this:

Hans Redeker from BNP Paribas said the EU authorities are damned if they do, and damned if they don’t. “The are afraid of provoking another shockwave in the market if they even talk about debt-restructuring, but it will be a hard sell to markets if they don’t.”

Quote
Christine Lagarde, French finance minister, said the result of tests would be published on July 23. Details will emerge over coming days on “the exact criteria we apply and of how heavily we stress the system”.

Translation: A massive shitstorm will come down on July 23 when many Eurozone banks are declared insolvent. Hang on to your shorts, hang on to your crotch and hang on to your f@#king hat.
Not all sins are created equal
  • #267,297
  • Jul 5, 2010 10:36pm Jul 5, 2010 10:36pm
Quoting Jay Walker
Translation: A massive shitstorm will come down on July 23 when many Eurozone banks are declared insolvent. Hang on to your shorts, hang on to your crotch and hang on to your f@#king hat.
Question for you... European Committee of Banking Supervisors is leading this stress test...other way to put it is taht the same bankas areleading it's own stress test isn't it?? Well, if I "were a bank" I wouldn't damage myself with the result of the tests...logic right?
I think that they are not going to publish the results of the test (or do it as they should) cause it would be really bad for the health of the whole EU. Imagine, as you said, the drop in value for euro. I hope they do it though, si we all can make more money!!
What do you think about it?
  • #267,298
  • Jul 5, 2010 10:42pm Jul 5, 2010 10:42pm
Quoting maurofx
Question for you... European Committee of Banking Supervisors is leading this stress test...other way to put it is taht the same bankas areleading it's own stress test isn't it?? Well, if I "were a bank" I wouldn't damage myself with the result of the tests...logic right?
I think that they are not going to publish the results of the test (or do it as they should) cause it would be really bad for the health of the whole EU. Imagine, as you said, the drop in value for euro. I hope they do it though, si we all can make more money!!
What do you think...
They'll have to publish something. And it will look spectacular. But it doesn't mean it's not a house of cards.

If they flip flop and decide to not publish something, traders long on the Euro will have to put their raincoats on because they will get greased in the shitfest after it's hit the fan.
Not all sins are created equal
  • #267,299
  • Jul 5, 2010 10:43pm Jul 5, 2010 10:43pm
If the results aren't credible the results will be the same as if they had lied.
  • #267,300
  • Jul 5, 2010 10:45pm Jul 5, 2010 10:45pm
Quoting SunTrader
If the results aren't credible the results will be the same as if they had lied.
How can you tell when banksters are lying? Their lips are moving.

How can you tell the difference between a bankster and a hooker? The hooker will stop screwing you after you're dead.
Not all sins are created equal
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