The Really Useless Thread

Grey boxes? Session(s)?

Question on the side:

What happens with people who has a house in Greece (but are not from there) if they go bankrupt?

indeed, LO to Late NY...

GU took a pretty good pasting, too yeah? <1.55

Also...I do believe that dragon bastard GJ took out all-time lows, too? Anybody feeling lucky, punk?

Oh man...all kinds of tough ones to answer there.

But this one specifically...I don't know!

Funky laws, though.

...and the VIX is only at 37...a lot of room..

long 3564

Good to have your charts back.

Last time I'll say it...don't want you thinking I'm getting soft.

I don't trade copper so I only have a general FA view on that instrument. Is obvious that is reflecting the current state of the real economy across the world. We have been consistently posting bad numbers and the latest break below 3.7 can't not be more clear.

On the TA side is trading air on a cliff. I don't find any possible supports or reference points outside of "Magic numbers". In simple words, and despite the technical FA underlying of the instrument I thing the "reversal" will only come when the real economy start ticking up.

On the FED statement, as I mentioned before, I find particularly interesting and important the "significant downside risks to the economic outlook". Finally they agree with the macro numbers (they have been in "hope" mode since QE2 ended) that the problem is beyond pouring free money in the economy.

The current FED position is extremely complicate. Having the double mandate of controlling inflation and promoting growth and employment in the current economic and political circumstance in the US looks like an oxymoron. Inflation ticking up and real economy going down with markets flirting to trigger a bear market and banks v close to collapse again.

Well like it or not for the Americans Geithner visit to Europe and the sudden "altruism" of the FED extending lines of credit to European banks is far from generosity but from a deep knowledge that the US banks are in deep shit if Eurobanks collapse. So agree on the "semi-official" implications of a systemically important bank could possibly be allowed to be liquidated. There is no way the FED or anyone can hold a bank crisis part II as in 2008.

Finally. AUD it has been a very complex pair FAwise for trading. The extreme dependency on commodities with risk aversion but economic slowdown at the same time put AUD in my books in "better forget about swings for a while" mode.

On the TA side the big picture is clearer. This year break of yearly R is finding is top at the vertical (Channel). Quarterly is about to confirm fresh R but is far from reversal. Chart is self-explanatory and it contains my position setups.

Conclusion copper trading on air and it can fall a lot more. AUD reacting accordingly but is far from reversal. A pullback wave on the making for a choppy range till the end of the year when we reach last break out point.

sisse

You're a pioneer...an explorer!

Let us know if you don't get you're head taken off for standing up like a nail!

I know a couple which are in that position, its hard to say what really would happen...

Heck of a read...AGAIN, mate!

Definitely have me rethinking looking at AUD longs now...in the immediate, at least. Was still thinking of high interest rates being a driver, but Rio Tinto is calling for lack of demand, and if things do slow down in Aus...I guess interest rates could take a chop. How far ahead to the real big dirty bastards look ahead and anticipate those sorts of things when they want to park their money somewhere today? Hmmmmmmmmmm?

81ish is the high for 2008 btw, dont even ask about 1987...

hey.. whats the vix high in 87??

What? Even after the largest dangling carrot I've ever seen in my life?

Go on...1987 VIX...or horse? Your choice!

hoping to make it back to 3626 and look for a load.

lol..well it wasnt around then as an actual index, but the synthetic intraday high is 172.79...can you imagine the panic...

I cant envision the series of events that would get us back up that high, but the panic in 1987 was twice that of 2008...

Fakking shocking!

I bet if there was a Tension Index (TIX)...this year would rate well, though.

Thanks bro. Done here in a v decent but very long day. GL all trading overnight.

sisse