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  • #322,661
  • Nov 9, 2010 10:02pm Nov 9, 2010 10:02pm
Quoting PriceVolume
I wonder if Jay's already short. 3400ish and I'll reassess according to PA. If we don't bounce and resume bull there....time to buckle up. Trendline is lower, but that will be a signal on the daily for me. The ranging over the past few weeks was a gift.....
Yesterday he wasn't....i doubt it changed. He said he wanted to buy in the mid 1,3 i think
COT: The precious data ignored
  • #322,662
  • Nov 9, 2010 10:04pm Nov 9, 2010 10:04pm
Quoting kuroro001
Yesterday he wasn't....i doubt it changed. He said he wanted to buy in the mid 1,3 i think
That lines up well with my scenario. But I have to wonder if we'll see more than a bounce....unless they start talking about QE3.
  • #322,663
  • Nov 9, 2010 10:11pm Nov 9, 2010 10:11pm
Quoting PriceVolume
That lines up well with my scenario. But I have to wonder if we'll see more than a bounce....unless they start talking about QE3.
Depends on how much mileage is in the eurozone sovereign debt risk tank. This move south is about euro weakness, not dollar strength. If G-20 comes with some concessions by China to allow greater strenghtening of the RMB then other ACB's can follow suit and they won't have to pump up the USD. The dollar can only define his strength by the weakness of others. Take that away and he wins the race to the bottom. Don't forget who's driving - that has been the destination all along.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #322,664
  • Nov 9, 2010 10:13pm Nov 9, 2010 10:13pm
Quoting PayTheLimit
3737/39 next bear target....
below that I'm seeing 3695/99, and its a biggie....
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 20 KB
Look Sharp/Trade Tight
  • #322,665
  • Nov 9, 2010 10:14pm Nov 9, 2010 10:14pm
Quoting The Fool
Depends on how much mileage is in the eurozone sovereign debt risk tank. This move south is about euro weakness, not dollar strength. If G-20 comes with some concessions by China to allow greater strenghtening of the RMB then other ACB's can follow suit and they won't have to pump up the USD. The dollar can only define his strength by the weakness of others. Take that away and he wins the race to the bottom. Don't forget who's driving - that has been the destination all along.
Ain't that the freaking truth. Can you think of any scenario where China would actually allow that, though? Not only would it be counter to their export agenda and debt portfolio....it would also mean a huge loss of face....dunno.
  • #322,666
  • Nov 9, 2010 10:19pm Nov 9, 2010 10:19pm

I'm down a bit, I'm long EU but who cares, I've put 1.40 as a target and I'm just going to forget about this trade, no stop loss only a target 1.40.

We'll see how this works out.

Shamu

New voice message: Why are you calling me? If I need you, I'll call you!
  • #322,667
  • Nov 9, 2010 10:20pm Nov 9, 2010 10:20pm
Quoting KillerWhale

I'm down a bit, I'm long EU but who cares, I've put 1.40 as a target and I'm just going to forget about this trade, no stop loss only a target 1.40.



We'll see how this works out.



Shamu

Godspeed. Not even a catastrophic stoploss?
  • #322,668
  • Nov 9, 2010 10:22pm Nov 9, 2010 10:22pm
Quoting disegnosys
All my buys were not picked up off the bounce so we may have our support level for awhile to reload shorts later.

Finally a move.
  • #322,669
  • Nov 9, 2010 10:26pm Nov 9, 2010 10:26pm
Cash traders will be watching the Portugal bond auction in early europe. If the debt traders come in and bid it well like they did Greece's earlier, then we could get another long bounce. Crying wolf only works so long. On the other hand, europe looks pretty close to the edge, at the mercy of the bond vigilantes. Kinda looks like last spring, when the CDS spreads were yelling run on the euro. The drop to 1.18 started from 1.37 ... too?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #322,670
  • Nov 9, 2010 10:27pm Nov 9, 2010 10:27pm
Quoting disegnosys
Finally a move.
move where? been here the last 2 hours .... seems like it felt like getting a feel of the 50EMA on the 5min.

honestly ... i hope it moves before I fall asleep here!
  • #322,671
  • Nov 9, 2010 10:29pm Nov 9, 2010 10:29pm
Quoting kasper
move where? been here the last 2 hours .... seems like it felt like getting a feel of the 50EMA on the 5min.

honestly ... i hope it moves before I fall asleep here!
Asia's just doing what Asia does best - squeeze the living crap out of price in consolidation.
  • #322,672
  • Nov 9, 2010 10:30pm Nov 9, 2010 10:30pm
Quoting The Fool
Cash traders will be watching the Portugal bond auction in early europe. If the debt traders come in and bid it well like they did Greece's earlier, then we could get another long bounce. Crying wolf only works so long. On the other hand, europe looks pretty close to the edge, at the mercy of the bond vigilantes. Kinda looks like last spring, when the CDS spreads were yelling run on the euro. The drop to 1.18 started from 1.37 ... too?
Yep. I'm watching the spreads more than the individual auction result. Tick tock.
  • #322,673
  • Nov 9, 2010 10:35pm Nov 9, 2010 10:35pm
Quoting KillerWhale

I'm down a bit, I'm long EU but who cares, I've put 1.40 as a target and I'm just going to forget about this trade, no stop loss only a target 1.40.



We'll see how this works out.



Shamu

Shamu, welcome back. Its been quite long.
The Thief of Wall Street
  • #322,674
  • Nov 9, 2010 10:37pm Nov 9, 2010 10:37pm
Quoting kasper
move where? been here the last 2 hours .... seems like it felt like getting a feel of the 50EMA on the 5min.

honestly ... i hope it moves before I fall asleep here!

It move 20 pips thats a lot for a 2m chart. I'm a short term trader.
  • #322,675
  • Nov 9, 2010 10:38pm Nov 9, 2010 10:38pm
http://www.marketwatch.com/story/dol...teid=rss&rss=1

http://www.marketwatch.com/story/chi...-qe-2010-11-09

What happens if the currency wars really get going good and the hot money flows are turned way down worldwide?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #322,676
  • Nov 9, 2010 10:41pm Nov 9, 2010 10:41pm
Quoting The Fool
http://www.marketwatch.com/story/dol...teid=rss&rss=1

http://www.marketwatch.com/story/chi...-qe-2010-11-09

What happens if the currency wars really get going good and the hot money flows are turned way down worldwide?
Risk plummets.
  • #322,677
  • Nov 9, 2010 10:50pm Nov 9, 2010 10:50pm
What up fool? I see those greek spreads are looking like 950/960, up from 900/910 yesterday.
Look Sharp/Trade Tight
  • #322,678
  • Nov 9, 2010 10:55pm Nov 9, 2010 10:55pm
Quoting PayTheLimit
What up fool? I see those greek spreads are looking like 950/960, up from 900/910 yesterday.
Hey PTL. Breakouts short looks like the special today. Do you know when that Portuguese auction is?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #322,679
  • Nov 9, 2010 10:56pm Nov 9, 2010 10:56pm
Quoting PriceVolume
Risk plummets.
i like the second one.. they are putting the screws to china by driving up its inflation.. forcing them to tighten... producing less demand for crap.. if not inflation will cause a revolt there. BB is smarter then i gave him credit for. he also decreased the value of usd china holds. since they refuse to depeg.. if you cant beat them... overthrow them.
those who can, do. those who cant, talk about those who can
  • #322,680
  • Nov 9, 2010 10:58pm Nov 9, 2010 10:58pm
Quoting PriceVolume
Godspeed. Not even a catastrophic stoploss?
NO
New voice message: Why are you calling me? If I need you, I'll call you!
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