European fraudulent stress test results are out. Every bank in Euro passed sides Hypo. Even the damn Greek ones passed WTF. The Greek Central bank (BOG what a name) itself should have failed
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #229,621
- Jul 23, 2010 11:13am Jul 23, 2010 11:13am
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
- #229,622
- Jul 23, 2010 11:17am Jul 23, 2010 11:17am
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European fraudulent stress test results are out. Every bank in Euro passed sides Hypo. Even the damn Greek ones passed WTF. The Greek Central bank (BOG what a name) itself should have failed
- #229,623
- Jul 23, 2010 11:18am Jul 23, 2010 11:18am
- Joined Jan 2007 | Status: Trader | 3,719 Posts
crappy, yes well what did you xpect, big sharks to let it go smoothly up and down so we can take profits easily... 
Yup, we reach 135. Kind of crappy...
Nihil Sine Deo.
- #229,624
- Jul 23, 2010 11:23am Jul 23, 2010 11:23am
- Joined Dec 2008 | Status: Trader | 2,753 Posts
Yea, load of bollocks IMO. 7 banks failed. But importantly none of the banks were tested on their loan books.
Once these tests have been scrutinised over the weekend, we should see a reaction...
Once these tests have been scrutinised over the weekend, we should see a reaction...
- #229,625
- Jul 23, 2010 11:23am Jul 23, 2010 11:23am
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
- #229,626
- Jul 23, 2010 11:24am Jul 23, 2010 11:24am
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Nihil Sine Deo.
- #229,627
- Jul 23, 2010 11:27am Jul 23, 2010 11:27am
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
it's not the banks.
if you break your leg and go to the doctor, and the doctor starts doing some whatever stress tests to see if your OTHER leg is healthy and if you can use it... you'll turn out perfectly fine, healthy and ready to go ... with a broken leg.
- #229,628
- Jul 23, 2010 11:27am Jul 23, 2010 11:27am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
crappy, yes well what did you xpect, big sharks to let it go smoothly up and down so we can take profits easily...
http://www.telegraph.co.uk/news/pict...July-2010.html
Btw saturday , Bank Stress Test Results . Will have big gap on weekend after this news out. Careful all. Best wishes to all. Have a nice weekend.
- #229,629
- Jul 23, 2010 11:33am Jul 23, 2010 11:33am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
Yea, load of bollocks IMO. 7 banks failed. But importantly none of the banks were tested on their loan books.
Once these tests have been scrutinised over the weekend, we should see a reaction...
- #229,630
- Jul 23, 2010 11:39am Jul 23, 2010 11:39am
- Joined Dec 2008 | Status: Trader | 2,753 Posts
Is been 1st of the day, looks bear divergence start forming on m15 and m30. Don't you think so?
Let's see what the 'market' wants to do.
- #229,631
- Jul 23, 2010 11:49am Jul 23, 2010 11:49am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
That last dip down on the 15m would scupper any divergence trade for me, but we do have bearish divergence on GY on the 1hr TF, with a play-out area of just below 133.
Let's see what the 'market' wants to do.
Option for lower target is daily 5MA
- #229,632
- Jul 23, 2010 12:00pm Jul 23, 2010 12:00pm
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
So key UKDaytrader: the bank's loans have not been scrutinized as part of this 'testing.' This, on top of many banks having done a 'reclassification' of foreign debt from 'trading' to 'held to maturity'. So, for example, I have to assume that tens of billions of dollars to Spanish real estate developers now sitting on grossly devalued partially built and partially sold real estate developments which are 16% Spain's GDP (GDP = $1.x Trillion) - have not been factored in ('tested') to whichever non-Spanish (or Spanish!) bank is underwriting the loans!
We of course don't know all the details, but I'll say the graphic below is only a portion of the complicated web that likely hasn't been touched by these farcical tests. I personally love the fact that all French banks passed, yet they're owed $511B by Italy! No, but wait, everything is fine in Italy, because, well, all their banks passed too!
Oh, and did anyone catch that Chinese banks are unlikely to received payment of 23% of $1.1 Trillion of monies lend out to local governments? Sounds like a printing press operation going on over there too - for 1.32 billion people!
All in all, looks like a rejection of 135 and 1.29 on GY, EU - sucker's rally attempt it was. But again, it's eurobot trading, and NY is too confused to do anything of substance with this I think. Will see where we move to, but I'd think smallish sells on rallies approaching 1.29 stand a reasonable chance of gapping down on Sunday night - I think weekend digestion will create negativity around these insane aslylum operator's tests - if you need confidence on that, just think of the debacle after the EU bandaided the $1 trillion to save banks - the market gave it all back in the next day or so - it was worse than a Swiss currency intervention! If nothing else, even if the big boys manage to drive EU up eventually, a bear trap might be their other strategy, hence somewhat of a chance for a gap down Sunday. Pips to all.
We of course don't know all the details, but I'll say the graphic below is only a portion of the complicated web that likely hasn't been touched by these farcical tests. I personally love the fact that all French banks passed, yet they're owed $511B by Italy! No, but wait, everything is fine in Italy, because, well, all their banks passed too!
Oh, and did anyone catch that Chinese banks are unlikely to received payment of 23% of $1.1 Trillion of monies lend out to local governments? Sounds like a printing press operation going on over there too - for 1.32 billion people!
All in all, looks like a rejection of 135 and 1.29 on GY, EU - sucker's rally attempt it was. But again, it's eurobot trading, and NY is too confused to do anything of substance with this I think. Will see where we move to, but I'd think smallish sells on rallies approaching 1.29 stand a reasonable chance of gapping down on Sunday night - I think weekend digestion will create negativity around these insane aslylum operator's tests - if you need confidence on that, just think of the debacle after the EU bandaided the $1 trillion to save banks - the market gave it all back in the next day or so - it was worse than a Swiss currency intervention! If nothing else, even if the big boys manage to drive EU up eventually, a bear trap might be their other strategy, hence somewhat of a chance for a gap down Sunday. Pips to all.
Gucc is back.
PS: Just took shorts at 134.60, I'm going to update the blog later today with some charts and explanations.
aah gucc the mafia mr GODFATHER!!
sit tight with that shorts..keep yourself busy with snake or solitaire as we creeping up to new highs
ps... stop above 137.40 !
oops we close above the 55 EMA on daily,,thats a bugger ..but lets go and short this pair on a late firday afternoon ,while all the seniors sitting in the pub already drinking a cold one
- #229,634
- Jul 23, 2010 2:42pm Jul 23, 2010 2:42pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
gucc who ? ..
aah gucc the mafia mr GODFATHER!!
sit tight with that shorts..keep yourself busy with snake or solitaire as we creeping up to new highs
ps... stop above 137.40 !
oops we close above the 55 EMA on daily,,thats a bugger ..but lets go and short this pair on a late firday afternoon ,while all the seniors sitting in the pub already drinking a cold one
2. I pay no attention to EMAs unless they are 200+... even still, not very useful cause there is always some n00b like you quoting any random EMA as support or resistance. Not to mention we're in a heavily range-bound market. EMAs are of little significance.
3. Funny how you're still here... self-admittedly you aren't a senior by your own definition.
There's something to be said for someone who constantly gets banned and is hated by nearly everyone in this forum yet continues to return. You must have suffered some severe attention withdraw issues as a child (perhaps you still are a child and currently suffering them). Regardless, do us and yourself a favor... stop losing money trying to pretend you know how to trade and go spend it on a good shrink!
That's all I have to say to you Gucc. Keep wasting all of our time with your posts, you've officially become the first to ever make my ignore list.
check out my blog: forexmademillionaire dot com
- #229,637
- Jul 23, 2010 8:59pm Jul 23, 2010 8:59pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
nice and easy setup Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #229,638
- Jul 23, 2010 10:13pm Jul 23, 2010 10:13pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
1....
That avatar of yours is a perfect compliment to this kinda post.
- #229,639
- Jul 24, 2010 12:06am Jul 24, 2010 12:06am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
..i cant learn anymore overhere...mmm
- #229,640
- Jul 24, 2010 5:10am Jul 24, 2010 5:10am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
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