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  • #12,241
  • Sep 13, 2011 12:25pm Sep 13, 2011 12:25pm
Quoting needpips
3834 area might be btr for SH...

I wouldn't yet if I were you, we blew through some stops here. Unless of course you are scalping a retrace.
  • #12,242
  • Sep 13, 2011 12:28pm Sep 13, 2011 12:28pm
eur/chf? hehehe....
  • #12,243
  • Sep 13, 2011 12:28pm Sep 13, 2011 12:28pm
Quoting nasir.khan
Also talk of increasing the EFSF now.

http://www.reuters.com/article/2011/...78C4NL20110913
.
Giethner. He's that wimpy bookkeeping teacher.

The CB's don't yet fully get what the politicians are beginning to see. The age of the unfettered central bank, which can choose which economic goal to pursue without public debate, or support the financial system at the expense of the public, is drawing to a close.

From that article:

"He will probably tell Germany to give up its resistance to an increase in the size of the EFSF," the source said.

A well connected fund source told Reuters Geithner had been pushing for a solution for European banks along the lines of the TARP program in the United States, but had not made much headway.

The new EFSF powers will only kick in once ratified by euro zone countries. In some, like Germany, Finland, the Netherlands or Slovakia, public opposition to bailouts is making parliaments reluctant to commit more money and power to the fund.

EDIT: Here's the headline the FED should be worried about, as well as the politicians on both sides of the aisle. "Record Number Americans, Or 46.3 Million, Lived In Poverty Last Year; 49.9 Million Without Health Insurance."

How do you think a full scale bank bailout (and that's how the election campaign will paint QE) is going to play in Peoria?
  • #12,244
  • Sep 13, 2011 12:31pm Sep 13, 2011 12:31pm
Quoting OldQuant
The new EFSF powers will only kick in once ratified by euro zone countries. In some, like Germany, Finland, the Netherlands or Slovakia, public opposition to bailouts is making parliaments reluctant to commit more money and power to the fund.
I was discussing an option to get around that earlier this week with Sisse, they can register the EFSF as a bank, it can then draw unlimited liquidity from the ECB and as it is at armslength can buy up any and as much debt (even corporate ie banks) as it wants without having to correct the money supply, eh voila a European money printing machine for the first time.

I am watching them carefully. At their current size, with the bailout commitments already made and based on the current weekly purchase schedule of the ECB, the EFSF is going to last 10 weeks. I agree with Geithner regarding the size of the EFSF, in my opinion it needs to be at least 3 Trn to have any meaning at all.
  • #12,245
  • Sep 13, 2011 12:33pm Sep 13, 2011 12:33pm
Quoting OldQuant
Giethner. He's that wimpy bookkeeping teacher.

The CB's don't yet fully get what the politicians are beginning to see. The age of the unfettered central bank, which can choose which economic goal to pursue without public debate, or support the financial system at the expense of the public, is drawing to a close.

From that article:

"He will probably tell Germany to give up its resistance to an increase in the size of the EFSF," the source said.

A well connected fund source told Reuters Geithner had been pushing for a solution...
Yeah it does't hold any weight that what he will propose EU to do but in a market like today its enough to move it for some pips.
.
  • #12,246
  • Sep 13, 2011 12:36pm Sep 13, 2011 12:36pm
Quoting nasir.khan
Yeah it does't hold any weight that what he will propose EU to do but in a market like today its enough to move it for some pips.
.
Ken's wonder drug: hopium.
  • #12,247
  • Sep 13, 2011 12:39pm Sep 13, 2011 12:39pm
1h ago...
Quoting Piters
Gold looks to me is ready to POP too..
just for a test of 1850 area..
This one.. is tasty.. with Golden topping ..

First Target 1837..ish
[Chart]
Attached Image (click to enlarge)
Click to Enlarge Name: 14-09-2011 3-36-20 AM.png Size: 47 KB
  • #12,248
  • Sep 13, 2011 12:39pm Sep 13, 2011 12:39pm
Quoting OldQuant
Ken's wonder drug: hopium.
Nah i am already done for the day except a GU short.

I dont trade like that.
.
  • #12,249
  • Sep 13, 2011 12:39pm Sep 13, 2011 12:39pm
Quoting cloggie
I was discussing an option to get around that earlier this week with Sisse, they can register the EFSF as a bank, it can then draw unlimited liquidity from the ECB and as it is at armslength can buy up any and as much debt (even corporate ie banks) as it wants without having to correct the money supply, eh voila an European money printing machine for the first time.

I am watching them carefully. At their current size, with the bailout commitments already made and based on the current weekly purchase schedule of the ECB, the EFSF is going to last...
I saw that. A variation of that theme is how GS and Morgan Stanley were assured existence in '08: make the bastard child a bank.

Also saw some discussion the other day to a provision in the treaties that allows a group of countries to pursue a goal without unanimity or ratification of the others. I didn't pay attention, and don't have clear memory of where I saw it. I should go find it in the browser history.
  • #12,250
  • Sep 13, 2011 12:42pm Sep 13, 2011 12:42pm
Quoting Piters
1h ago...


This one.. is tasty.. with Golden topping ..

First Target 1837..ish
[Chart]
1837.24 .closed all..
  • #12,251
  • Sep 13, 2011 12:45pm Sep 13, 2011 12:45pm
V nice Piters

Quoting Piters
1837.24 .closed all..
Disclaimer: Check your 1m charts
  • #12,252
  • Sep 13, 2011 12:45pm Sep 13, 2011 12:45pm
Quoting cloggie
I wouldn't yet if I were you, we blew through some stops here. Unless of course you are scalping a retrace.
3834...not 3734
  • #12,253
  • Sep 13, 2011 12:46pm Sep 13, 2011 12:46pm
Quoting pipper
V nice Piters
  • #12,254
  • Sep 13, 2011 12:46pm Sep 13, 2011 12:46pm
sh 31, s/o +1

lack of any meaningful sell off, possibly suggesting higher...
  • #12,255
  • Sep 13, 2011 12:46pm Sep 13, 2011 12:46pm
Quoting cloggie
At their current size, with the bailout commitments already made and based on the current weekly purchase schedule of the ECB, the EFSF is going to last 10 weeks.
They better hurry quicker than that. The ECB Deposit Facility will likely cross a quarter trillion this week, and the LIBOR counterparty rates are continuing to spread and diverge.

LIBOR doesn't do hopium. Those rates aren't set by markets as much as they're set by cranky senior guys called capital market credit risk officers. With a flick of the pen, a bank can be precluded from taking another's swaps or repos.
  • #12,256
  • Sep 13, 2011 12:47pm Sep 13, 2011 12:47pm
Quoting OldQuant
Also saw some discussion the other day to a provision in the treaties that allows a group of countries to pursue a goal without unanimity or ratification of the others. I didn't pay attention, and don't have clear memory of where I saw it. I should go find it in the browser history.

Correct that happens in 2014, the EU has slowly gone from unanimity to the current qualified majority, to the new qualified majority in 2014, when a majority of 65% is needed for policy change (based on population), currently 75%. There is some "small minority" clause in there somewhere where under certain conditions a minority can ask for a "review" not a repeal. Not sure how that one works, need to read up on Lisbon again.

It is called the QMV and was accepted in the Lisbon treaty. So in effect, Germany/France/UK can run the EU from 2014 on. (it needs a few more then just GE/FR, but you get the drift)

http://www.consilium.europa.eu/uedoc...00014.en07.pdf

(If you ever can't sleep at night)
  • #12,257
  • Sep 13, 2011 12:57pm Sep 13, 2011 12:57pm
Small H&S Archie for some retrace before higher

Quoting FibbinArchie
sh 31, s/o +1

lack of any meaningful sell off, possibly suggesting higher...
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 13 KB
Disclaimer: Check your 1m charts
  • #12,258
  • Sep 13, 2011 1:00pm Sep 13, 2011 1:00pm
Quoting pipper
Small H&S Archie for some retrace before higher
strange little spike down, dunno what it's doing atm...

i wish it would get a shift on, i'm starving, but glued to the chart...
  • #12,259
  • Sep 13, 2011 1:03pm Sep 13, 2011 1:03pm
Quoting FibbinArchie
strange little spike down, dunno what it's doing atm...
Solid resistance line at 3728, one side had to give.
  • #12,260
  • Sep 13, 2011 1:05pm Sep 13, 2011 1:05pm
Quoting Venice
Solid resistance line at 3728, one side had to give.
28 v? it was pin balling 25 to 30 long enough, if the bull run is done then why hold it up so long?

also, if it's going higher. then why release a ton of early bears?
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