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Silent Service Method

  • #11,141
  • Oct 29, 2010 9:29am Oct 29, 2010 9:29am
Went ahead and closed both the EUR/JPY and CHF/JPY trades for good profits - both are forming pinbars, and I believe may rise to retest trend lines.......if so I will short again.

Chris
  • #11,142
  • Oct 29, 2010 11:24am Oct 29, 2010 11:24am
Quoting clockwork71
Interesting place for a bearish outside bar on EUR/GBP, this might be worth watching next week....
I already shorted EURGBP.. Goodluck to my trade...
My edge ===> Patience
  • #11,143
  • Oct 29, 2010 11:46am Oct 29, 2010 11:46am
Quoting InfinitySL
For once, Zero Hedge took the works right out of my mouth:
http://www.zerohedge.com/article/par...rimary-dealers

I'm no ZH fan (I will be if I can get my trading to pay for the anti-depressants), but I love this part, it's really about time someone made a proper list.

"
Below are the 18 banks that, in a completely separate vote, will henceforth rule America, regardless of what particular puppets end up in the Congress and Senate:
BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Mizuho Securities USA Inc.
Morgan Stanley & Co. Incorporated
Nomura Securities International, Inc.
RBC Capital Markets Corporation
RBS Securities Inc.
UBS Securities LLC."


Seriously, why bankers aren't on my ballot is a complete mystery.
  • #11,144
  • Oct 29, 2010 12:02pm Oct 29, 2010 12:02pm
Quoting Low
I'm no ZH fan (I will be if I can get my trading to pay for the anti-depressants), but I love this part, it's really about time someone made a proper list.

"
Below are the 18 banks that, in a completely separate vote, will henceforth rule America, regardless of what particular puppets end up in the Congress and Senate:
BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit...
Hey low,

One of my favourite comments from any site comes from a ZH user with regard to the current attitude of the US ruling class:

"There are vast fortunes to be made in the process of bringing a first world country (Argentina - 1920) down to third world status. And there is great safety for those in charge of the national umbringen[suicide] if they can dumb down the population and, through disgenic welfare and immigration policies, reduce the average IQ to a point where control is assured - there being no "outer party" to replace the oligarchs.....ust look at the huge smoothly trending waves in the Argentine stock markets as the process unfolded"

Scarily accurate and applicable also here in the UK. The average punter on the street here is almost an automaton.
  • #11,145
  • Oct 29, 2010 12:27pm Oct 29, 2010 12:27pm
Quoting 4xAddict

"There are vast fortunes to be made in the process of bringing a first world country (Argentina - 1920) down to third world status. And there is great safety for those in charge of the national umbringen[suicide] if they can dumb down the population and, through disgenic welfare and immigration policies, reduce the average IQ to a point where control is assured - there being no "outer party" to replace the oligarchs.....ust look at the huge smoothly trending waves in the Argentine stock markets as the process unfolded"
One of the more interesting facts of the Argentine debacle was that the day the government realized they couldn't sustain their policies, they gave the "heads up" to the local elite. Overnight, $40 billion USD was removed from the national banking system, both digitally and in hard currency (actual armored truckloads), and the next day banks were closed.

Thus the wealthy removed all their liquidity, and the citizens were denied access to their own deposits (which may or may not have existed anymore).

Leaving them broke. In 24 hours.

I don't subscribe to the "wealth-redistribution" schemes bandied about (more legal theft), but there are known flaws to wealth concentration, one being that if 40 families decide their money isn't safe somewhere, their removal of it can bankrupt an entire nation.

Which then makes me think, if we (the average guy) don't really own any of this wealth, why the hell does it even register in national economic metrics? I would like to see the stats on what we average Americans really own, once the net holdings of the top 1% are subtracted.

That would be an eye-opener.
  • #11,146
  • Oct 29, 2010 12:36pm Oct 29, 2010 12:36pm
If you guys have a spare couple of hours this weekend you might like to watch this..

http://www.forexfactory.com/showpost...postcount=3107
  • #11,147
  • Oct 29, 2010 12:39pm Oct 29, 2010 12:39pm
Quoting 4xAddict
Hey low,

One of my favourite comments from any site comes from a ZH user with regard to the current attitude of the US ruling class:

......And there is great safety for those in charge of the national umbringen[suicide] if they can dumb down the population and, through disgenic welfare and immigration policies, reduce the average IQ to a point where control is assured - there being no "outer party" to replace the oligarchs.....
Also on this note, I've always been fairly enthusiastic about the electoral process here in the US, especially national politics, but our mid-term elections are 2 days away and I still haven't even looked at my ballot.

It's hard to give a s__t when I know that the people we should be fighting against (legislatively), have already bought and paid for any candidates I'm allowed to choose from. Whiskey Tango Foxtrot.....

I'll vote simply because I believe that those who don't relinquish any right to complain, but really, calling this plutocracy a democratic republic becomes a greater farce with each passing day.
  • #11,148
  • Oct 29, 2010 12:46pm Oct 29, 2010 12:46pm
Quoting Low
One of the more interesting facts of the Argentine debacle was that the day the government realized they couldn't sustain their policies, they gave the "heads up" to the local elite. Overnight, $40 billion USD was removed from the national banking system, both digitally and in hard currency (actual armored truckloads), and the next day banks were closed.

Thus the wealthy removed all their liquidity, and the citizens were denied access to their own deposits (which may or may not have existed anymore).

Leaving them broke. In 24 hours.

I...
Amazing what you find on the interweb
Attached Image
  • #11,149
  • Oct 29, 2010 12:50pm Oct 29, 2010 12:50pm
Quoting Ben920FX
I already shorted EURGBP.. Goodluck to my trade...

You are just ahead of the curve playa! - no worries!
  • #11,150
  • Oct 29, 2010 12:51pm Oct 29, 2010 12:51pm
Quoting Low
I'm no ZH fan (I will be if I can get my trading to pay for the anti-depressants), but I love this part, it's really about time someone made a proper list.

"
Below are the 18 banks that, in a completely separate vote, will henceforth rule America, regardless of what particular puppets end up in the Congress and Senate:
BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse...
Agreed. When my forces take over the Americas, we will drive them into the sea, leaving them with all those "free toasters." Still plugged in of course.
  • #11,151
  • Oct 29, 2010 12:51pm Oct 29, 2010 12:51pm
Quoting 4xAddict
Amazing what you find on the interweb
LOL. So if we assume approximately 1/2 of our total population (300M) is of working age, and take 80% of that, we get: 120M people.

And that 120M collectively owns 7% of everything? Ouch.

I know these aren't accurate projections, but that's just plain sad.
  • #11,152
  • Oct 29, 2010 12:52pm Oct 29, 2010 12:52pm
Quoting Low
Also on this note, I've always been fairly enthusiastic about the electoral process here in the US, especially national politics, but our mid-term elections are 2 days away and I still haven't even looked at my ballot.

It's hard to give a s__t when I know that the people we should be fighting against (legislatively), have already bought and paid for any candidates I'm allowed to choose from. Whiskey Tango Foxtrot.....

I'll vote simply because I believe that those who don't relinquish any right to complain, but really, calling this plutocracy...

I believe in term limits. Every time voting happens, vote for the one not in office.
  • #11,153
  • Oct 29, 2010 12:54pm Oct 29, 2010 12:54pm
Quoting Low
LOL. So if we assume approximately 1/2 of our total population (300M) is of working age, and take 80% of that, we get: 120M people.

And that 120M collectively owns 7% of everything? Ouch.

I know these aren't accurate projections, but that's just plain sad.
Good God. Can you imagine what it must look like in Dubai?

The 80% slice would have to be our friend Samer. That piece would say "Some forex trader guy called Samer". lol
  • #11,154
  • Oct 29, 2010 12:57pm Oct 29, 2010 12:57pm
Quoting Ben920FX
I already shorted EURGBP.. Goodluck to my trade...
Yeah me too, it printed a very well-defined bearish gartley. About the only trade that's gone right in awhile...lol.
Short from .8840.
  • #11,155
  • Oct 29, 2010 1:02pm Oct 29, 2010 1:02pm
Quoting clockwork71
Good God. Can you imagine what it must look like in Dubai?

The 80% slice would have to be our friend Samer. That piece would say "Some forex trader guy called Samer". lol
I think I'm going to email him to see if he needs an "assistant". I'm good at domestic chores too. Job outlook here isn't too hot. Where I live is super-seasonal....And the summer didn't bring near as much $ as usual. I honestly have no idea how I'll make it through February. Fortunately, I am the economic cockroach. I can survive near-nuclear poverty.

Hell, I just paid off my truck, and another long-standing debt will be zero in 2 more months.

Maybe there's hope after all.
  • #11,156
  • Edited 8:26am Oct 30, 2010 6:24am | Edited 8:26am
Quoting clockwork71
Good God. Can you imagine what it must look like in Dubai?

The 80% slice would have to be our friend Samer. That piece would say "Some forex trader guy called Samer". lol

lolllllllllll
we are in deep sh*t here too , beside you can buy gold from ATM machines and some very luxurious car with matriculation numbers that cost a few millions dollars and very very high yacht , real estate fell 45 % , economy looks very bad . this year in the real estate forum in Dubai there are 150000 luxury units are going to be ready during the next 6 months and no buyers .before they used to sell a very big project like the palms in a few hours .
so you can move me from the bigger slice of the 1 % to the red one !
  • #11,157
  • Oct 30, 2010 9:45am Oct 30, 2010 9:45am
Want to see a great indication of the world's expansion, and by extension, the direction of the AUD, CAD, and NZD? (ComDolls in general, but weighted more towards the AUD)

Pay attention to COPPER. Go to barchart.com and check it once a day. Here is the chart at the moment.....you can see we are testing the trend line yet again.
Attached Image (click to enlarge)
Click to Enlarge Name: copper.png Size: 24 KB
  • #11,158
  • Oct 30, 2010 3:10pm Oct 30, 2010 3:10pm
Quoting 4xAddict
Amazing what you find on the interweb

http://www.oftwominds.com/blogoct10/...tegy10-10.html
  • #11,159
  • Oct 30, 2010 7:08pm Oct 30, 2010 7:08pm
Quoting Low
http://www.oftwominds.com/blogoct10/...tegy10-10.html
Interesting....good read.
  • #11,160
  • Oct 31, 2010 3:56pm Oct 31, 2010 3:56pm
For what it's worth, I suspect that the next three days should be horrible for trading. The whole world is waiting for the election results, and the FMOC minutes to come out. The world wants to know if the Fed will monetize the debt, and by how much. The elections really down to the Senate more than anything else.

I plan on not entering any trades until Wednesday at the earliest, in all markets that I trade.

It's a good time to do something else. Maybe some reading......
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