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  • #288,821
  • Sep 4, 2010 9:25pm Sep 4, 2010 9:25pm
"Asian nations, China and India first, are no longer willing to purchase securities issued by the US Treasury" - this is a completely false statement, similar to: "The sun has disappeared forever."


"the United States is likely to face a debt crisis like the one in Greece sooner than later"

No. Later than sooner, as in never, or at least not so long as the US is the owner of the world's reserve currency.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #288,822
  • Sep 4, 2010 9:30pm Sep 4, 2010 9:30pm
US Dollar is in danger, be cautious before this currency crisis occurs!

http://www.istockphoto.com/file_thum...ubbish-bin.jpg
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #288,823
  • Sep 4, 2010 9:31pm Sep 4, 2010 9:31pm
Quoting gatorinla
i cant short this, i closed my longer term (4) trades 350/400 pips each. i lost about 150 pips of this weeks cost averaged euro trade.. we may retrace around 2900 lots of resistance from 2881 to 2903.. so i may long at 2858/17 ish pullback.. depending on today's close. still got a eg trade long. hopfully long term for 1000 pips. if the euro really does gain strength. but its got a bearish wedge forming on eg as does the eu on 4h charts.. the euro appears to be closing out the week on top while the chf is 100 pips off the bottom. strange..

have...
I gave back some potential profit and let a few I opened over the past two weeks close at BE+, and I have one lower currently in drawdown. I'm leaving that one open with a hard stop, and for my oldest positions (which are much higher), I'll keep them open for the time being. I'll take another look next week - I want to see what happens when the big boys are back to play with their toys.
  • #288,824
  • Sep 4, 2010 9:35pm Sep 4, 2010 9:35pm
Quoting The Fool
"Asian nations, China and India first, are no longer willing to purchase securities issued by the US Treasury" - this is a completely false statement, similar to: "The sun has disappeared forever."


"the United States is likely to face a debt crisis like the one in Greece sooner than later"

No. Later than sooner, as in never, or at least not so long as the US is the owner of the world's reserve currency.
China cut back on U.S. treasuries from 894.8 billion to $843.7 billion in June.
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #288,825
  • Sep 4, 2010 9:45pm Sep 4, 2010 9:45pm
http://ecx.images-amazon.com/images/...160_AA115_.jpg

Get an education, don't believe the crap you read in the redherring press.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #288,826
  • Sep 4, 2010 9:55pm Sep 4, 2010 9:55pm
I agree,

it's good to increase your deficits dramatically every year,
it's really smart to print as much money as you want,
it's magic to stimulate the economy and spend hundred of billions to get some phony GDP numbers,
Bailouts are wonderful things,

US Government doesnt want people to lose money so instead the money is going to lose value !

http://www.wiseupjournal.com/images/...ollar-fire.jpg
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #288,827
  • Sep 4, 2010 9:56pm Sep 4, 2010 9:56pm
Quoting Bootleger
US Dollar is in danger, be cautious before this currency crisis occurs!

yea blah blah blah.......is that all you post?



I'm not trusting these moves last week and here is the reason. This data we are getting is nothing short of terrible and very reminiscent of 08'. The worst being housing data, employment and manufacturing. Yea, you, obama and any other optimist can say all you want about how data is improving. Sure some data may be improving, but compared to what?

The bottom line is that the numbers show the economy is still in serious trouble just like it was before in 08'. No credit for consumers or sb, unemployment stuck above 9.0% but what's worse is the fact that marginally adjusted unemployment is at 16.6%----there are simply more people looking for jobs but less jobs available. The true picture of the jobs market is directly reflected upon the housing market and look at it, do I need to say more?

Last time I checked USD and Yen were still reserve currency and safe haven. There hasn't been hardly any liquidity in the markets in a month and most of these moves have been profit taking. These moves like on friday cannot be trusted, I mean it is labor day weekend there was literally no volume in the markets on fri. PA spiked up then someone dumped some euros and price drifted up. There was heavy selling of yen crosses as well.....This week we should hopefully expect to see some liquidity come back into the markets and it will give us some clue. I'm still bearish equities, commodities, bullish dollar and yen.
  • #288,828
  • Sep 4, 2010 10:07pm Sep 4, 2010 10:07pm
1.2925 area is a major res it will stop the bulls so short it at that area to go down to 1.2730 area that could be wave b of 2 so we need 3 waves from 1.2925 . 1.2730 area will be a good buy to get to 1.3030 area
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  • #288,829
  • Sep 4, 2010 10:10pm Sep 4, 2010 10:10pm
Quoting mfoste1
yea blah blah blah.......is that all you post?



I'm not trusting these moves last week and here is the reason. This data we are getting is nothing short of terrible and very reminiscent of 08'. The worst being housing data, employment and manufacturing. Yea, you, obama and any other optimist can say all you want about how data is improving. Sure some data may be improving, but compared to what?

The bottom line is that the numbers show the economy is still in serious trouble just like it was before in 08'. No credit for consumers or sb, unemployment...
I wouldn't want to encourage anyone to stand in front of a train, but I'm watching and waiting as well. When enough throw in the towel and decide they should stay long on Dow and S&P.....then we crash.....the movements of the past week feel like a "towel" play....and so I won't be adding any positions until I see confirming PA. Until then, it's akin to having a wild hair across the ass.....
  • #288,830
  • Sep 4, 2010 10:21pm Sep 4, 2010 10:21pm
Quoting The Fool
"Asian nations, China and India first, are no longer willing to purchase securities issued by the US Treasury" - this is a completely false statement, similar to: "The sun has disappeared forever."


"the United States is likely to face a debt crisis like the one in Greece sooner than later"

No. Later than sooner, as in never, or at least not so long as the US is the owner of the world's reserve currency.
Cheers mate...Its not easy filtering the crap out.

We'll see soon enuff I guess.

BTW, does Peter Schiff have any cred?
  • #288,831
  • Sep 4, 2010 10:33pm Sep 4, 2010 10:33pm
Happy weekend.
Many of you have read it.........
excerpt from the doc file of vegas 4 hour tunnel method....i loved this part and tried it with success on the free online roulette site and my current pasttime .checking momentum.


"About a week after I first introduced the 1 hour tunnel method , Vegas Jr. and I went down to MGM casino, on the Las Vegas strip, to play $3/$6 Texas Hold’em poker. It was on a Saturday afternoon, a typical weekend here in the desert of Southern Nevada. After about 3 hours of play we decided to quit and head home. I was up about $25 and Vegas Jr. was up about $75. As we passed through the casino on our way to the parking lot, Vegas Jr. noticed a crowd building near a roulette wheel. He says let’s go check it out.

When we get to the table I immediately see, on the screen of recently played roulette numbers, that the last 11 numbers are ALL red. A crowd is building and, of course, they start to bet black. When 15 in a row red numbers has been achieved, there is about $2,000 scattered on black across the table – none on red. When 20 in a row red numbers, there is about $15,000 bet on black – none on red.

Every single person at this table [about 100 people now] is now in shock and disbelief at what they are seeing. Cries of, “It just has to be black on the next spin of the ball …” can be heard booming nervously from those getting their asses handed to them. They bet more.

At 23 red numbers in a row, it takes the casino pit crew at this roulette table about 10 minutes just to get all the money off the table, and allow new bets to be made. We now estimate almost $30,000 is being bet on black. Next spin – red.

At the 28th spin, the ball finally hits a black number. Any cheers of joy? Not quite. Nobody has any money left to bet. On this spin about $50 is on black. Everybody else is dead-broke and mumbling to themselves. I look at the casino personnel working the roulette tables to gage their reactions to the above mentioned red run.

All I see are smirks. If I could read their minds, I know what I would hear first. It would start with “What a bunch of dumb-asses” and proceed from there.

After the table cleared, I approached the pit boss who was watching this event unfold and asked him his reaction. “No big deal”, he says, “This happens all the time.”
“Really?”, I say.
“Oh yea, I’ve seen it go up into the lower 30’s [numbers in a row black or red] a bunch of times. My buddy, who’s a pit boss on the night shift, says he’s seen it hit 42 once”, he says. “What’s interesting is that nobody ever, and I mean NEVER, bets with it. They all want to fade it. Oh well, better for us”, he says as he leaves me standing there and goes off to check on something.


Vegas Jr. and I don’t say a word to each other on our way to the car. We’re literally in the car 10 minutes before either of us speaks. We each separately can feel the strong parallels this event has to trading. When we talk later about this, one word comes up: MOMENTUM."
  • #288,832
  • Sep 4, 2010 11:15pm Sep 4, 2010 11:15pm
Quoting manojsai
Happy weekend.
Many of you have read it.........
excerpt from the doc file of vegas 4 hour tunnel method....i loved this part and tried it with success on the free online roulette site and my current pasttime .checking momentum.


[font=Times New Roman][size=3][i]"About a week after I first introduced the 1 hour tunnel method , Vegas Jr. and I went down to MGM casino, on the Las Vegas strip, to play $3/$6 Texas Hold’em poker. It was on a Saturday afternoon, a typical weekend here in the desert of Southern Nevada....
I understand that we have a lot of gamblers nowadays, and honestly, thanks to them, trading will be a profitable business for quite some time, thanks to the internet.

These stories help to motivate losers into believing they're winners.

I'm sorry if I sound too harsh, i just meant to be direct.
Traders are smartasses
  • #288,833
  • Sep 4, 2010 11:29pm Sep 4, 2010 11:29pm
Quoting Buai
Good to see you back Jhig. You been out of action for a lil while mate?
Thanks Buai! I've been exclusively trading EurAud EurNzd, knowing no one on FF wants to talk about those pairs. No one on Stocktwits/Twitter wants to talk about those pairs either so I just trade them alone.

You guys may see me this week, I see something worth trading on EU.
  • #288,834
  • Sep 5, 2010 12:05am Sep 5, 2010 12:05am
Can someone give me a reason to hold US Dollar for the months and years coming ?
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #288,835
  • Sep 5, 2010 12:22am Sep 5, 2010 12:22am
Quoting Spsantos
I understand that we have a lot of gamblers nowadays, and honestly, thanks to them, trading will be a profitable business for quite some time, thanks to the internet.

These stories help to motivate losers into believing they're winners.

I'm sorry if I sound too harsh, i just meant to be direct.
Spsantos....that bit was not for promoting Gambling or momentum trading..LOL
just sunday reading stuff.....
  • #288,836
  • Sep 5, 2010 12:25am Sep 5, 2010 12:25am
Quoting Jhig
Thanks Buai! I've been exclusively trading EurAud EurNzd, knowing no one on FF wants to talk about those pairs. No one on Stocktwits/Twitter wants to talk about those pairs either so I just trade them alone.

You guys may see me this week, I see something worth trading on EU.

Yup...its the EU thread after all.

But have you been to this thread? TLC and a few others are all over it, any pair, naked, higher TF's. Anything that moves is fair game, and they all play real well...I would be surprised if you didnt know about it.
Why not post other-than-EU-charts there mate?
  • #288,837
  • Sep 5, 2010 12:42am Sep 5, 2010 12:42am
Quoting Bootleger
Can someone give me a reason to hold US Dollar for the months and years coming ?
Not know more but simply i believe all currency to crush equal or below a paper levels ( not cost effective to make notes ,so to replace by virtual currencies ) ultimately while US still hold 60% of the world,s economy & likely continue hold the safe heaven status whatever fundaments it may have , rates zero or less ? valueless amongst no values.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #288,838
  • Sep 5, 2010 12:44am Sep 5, 2010 12:44am
http://www.marketwatch.com/charts/in...rand=289852321


The dollar index for the last decade
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #288,839
  • Edited 2:24am Sep 5, 2010 1:28am | Edited 2:24am
Here is what Im looking at.

Anything can happen no doubt, but...


There is a 100 pip range up there. Lets hope Volume arrives on time, (holidays finish) and next week we have some more decisive action.
See how we go.
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  • #288,840
  • Sep 5, 2010 2:41am Sep 5, 2010 2:41am
Let me know if you are looking on the same way ...............
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