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  • #512,741
  • Aug 5, 2011 10:25pm Aug 5, 2011 10:25pm
Quoting kenfen69
Hard to know what will happen. If it was any other country, there would be a sell off. Will be interesting to see the fireworks.

Glad I'm flat, though!
I hear that brother...

This was another week of chart-fuckery if ever was. Some incredible daily ranges, but the shifts only make a little more sense once ya see em in the rearview mirror...

Tripping the trend has been something ya can do with the stops or just taking small bites, more to my own preference, but this is summer session...

>>Shrugs Shoulders<<
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #512,742
  • Aug 5, 2011 10:33pm Aug 5, 2011 10:33pm
You could make the case that US credit is not as strong of a AAA rating as once was, but to downgrade and rate less than AAA?? If US credit is not AAA then I don't know what is!
  • #512,743
  • Aug 5, 2011 10:33pm Aug 5, 2011 10:33pm
In it's press release a few minutes ago, the Federal reserve board said ...

"For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board's Regulation W, will also be unaffected."

In other words, "go get stuffed"
  • #512,744
  • Aug 5, 2011 10:35pm Aug 5, 2011 10:35pm
One thing does seem clear...we seem to have a pretty strong support line, no weekly closes below that...

Accumulating for the next move up?



Seems if we bust and close below, there really won't be much to hold this turd burgler above water...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #512,745
  • Aug 5, 2011 10:36pm Aug 5, 2011 10:36pm
Quoting 2+2=4ex
You could make the case that US credit is not as strong of a AAA rating as once was, but to downgrade and rate less than AAA?? If US credit is not AAA then I don't know what is!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #512,746
  • Aug 5, 2011 10:45pm Aug 5, 2011 10:45pm
And finally one last look with the use of the 200EMA...

Support=Daily 200EMA
Resistance=H4 200EMA...(current)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #512,747
  • Aug 5, 2011 10:47pm Aug 5, 2011 10:47pm
Quoting 2+2=4ex
You could make the case that US credit is not as strong of a AAA rating as once was, but to downgrade and rate less than AAA?? If US credit is not AAA then I don't know what is!
This is from a couple pages back. I would really suggest everyone read the full report...particularly if you're American!

2+2...your question can be answered below...

Quoting kenfen69
From full report found here

"When comparing the U.S. to sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada, France, Germany, and the U.K.--we also observe, based on...
  • #512,748
  • Aug 5, 2011 10:50pm Aug 5, 2011 10:50pm
Quoting Pipsforall
I think it will be a non-event. S&P made a 2 trillion mistake, further less credibility by S&P. S&P acknowledges the mistake, just did on CNN, but decided to stick with their decision to downgrade.
Can't see it being a non-event!

Volatility awaits! Particularly with...

"Outlook

On Monday, we (S&P) will issue separate releases concerning affected ratings in the funds, government-related entities, financial institutions, insurance, public finance, and structured finance sectors."
  • #512,749
  • Aug 5, 2011 10:52pm Aug 5, 2011 10:52pm
Quoting Mpt
In it's press release a few minutes ago, the Federal reserve board said ...

[i]"For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board's...
what about tax?
  • #512,750
  • Aug 5, 2011 10:52pm Aug 5, 2011 10:52pm
So... any links to some >current< streaming EURUSD rates ?

I know two, but i don't have trust in what they are showing right now - hard to believe there is almost no change after the downgrade:

http://www.usagold.com/gold-price-live.html

http://www.fxstreet.com/rates-charts/forex-rates/
  • #512,751
  • Aug 5, 2011 10:53pm Aug 5, 2011 10:53pm
Quoting Aandar
So... any links to some >current< streaming EURUSD rates ?
Don't think its budged.

http://www.xe.com/currencycharts/?fr...to=USD&view=1D
  • #512,752
  • Aug 5, 2011 11:05pm Aug 5, 2011 11:05pm
Fitch says it will issue its rating by end of the month. Moody's had just affirmed Aaa earlier this week...for now.

Interesting times!
  • #512,753
  • Aug 5, 2011 11:05pm Aug 5, 2011 11:05pm
Quoting pkimnyc
Classic film!
  • #512,754
  • Aug 5, 2011 11:10pm Aug 5, 2011 11:10pm
Quoting Pipsforall
S&P made a 2 trillion mistake, further less credibility by S&P. S&P acknowledges the mistake, just did on CNN, but decided to stick with their decision to downgrade.
But what is this 2 trillion "mistake?" The money the guv has said will be "saved" by not entering future wars? Or the 1 trillion+ in cuts that the yet to be formed "committee" will tasked with finding?
  • #512,755
  • Aug 5, 2011 11:11pm Aug 5, 2011 11:11pm
Just finished updating my profile.
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The Thief of Wall Street
  • #512,756
  • Aug 5, 2011 11:13pm Aug 5, 2011 11:13pm
Quoting Magix
I hear that brother...

This was another week of chart-fuckery if ever was. Some incredible daily ranges, but the shifts only make a little more sense once ya see em in the rearview mirror...

Tripping the trend has been something ya can do with the stops or just taking small bites, more to my own preference, but this is summer session...

>>Shrugs Shoulders<<
Good looking chart, brother! Much clearer in the rear-view. Hindsight is a magical thing!

More to come next week, I suppose!
  • #512,757
  • Aug 5, 2011 11:18pm Aug 5, 2011 11:18pm
Quoting 2+2=4ex
You could make the case that US credit is not as strong of a AAA rating as once was, but to downgrade and rate less than AAA?? If US credit is not AAA then I don't know what is!

This ratings downgrade is not based on commercial reality. It is based on political considerations, specifically the aim is to create political ammunition on the eve of an presidential election.

Look at the statement that S&P released. I thought it was a political manefesto from the Tea Party.

I have said it before and I will say it again, it is astonishing to watch how much damage the Tea Party is willing to inflict on their own country just to get rid of a black man. Manifest destiny my ass.
We're all stories in the end. Just try to make it a good one.
  • #512,758
  • Aug 5, 2011 11:21pm Aug 5, 2011 11:21pm
Quoting kenfen69
But what is this 2 trillion "mistake?" The money the guv has said will be "saved" by not entering future wars? Or the 1 trillion+ in cuts that the yet to be formed "committee" will tasked with finding?
smells like they just want the tax to be raised.
  • #512,759
  • Aug 5, 2011 11:24pm Aug 5, 2011 11:24pm
OANDA spread just widened from 10 to 40. Good luck to all stoplosses and takeprofits. I earlier wondered what was the reason for no maintenance tonight.
The Thief of Wall Street
  • #512,760
  • Aug 5, 2011 11:26pm Aug 5, 2011 11:26pm
Quoting Chicky
OANDA spread just widened from 10 to 40. Good luck to all stoplosses and takeprofits. I earlier wondered what was the reason for no maintenance tonight.
lol. they always do that when there is too many bears in the market.
spread on geppy 2008 was at 50 pips wide in week days.
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