The Really Useless Thread

Come on Tokyo!

Best to you, mate. Always a pleasure!

Glad your day was decent...feet up now.

All the best.

Same here. Signal for longs i have had for the last 3 trading days. On the daily it has a 92% correct accuracy in that itwill obtain at least a 100 pips, even if it immediatley reverses. Looks like i got the "loss" out of the way, and it was still a be+5. Cant complain about that. now the signal is lined up with the fundies. But bounce to topside needs to happen before i consider short, and interest still puts me off. Fecken ben!! Hehe

bbl, gl, PTL

Oh I thought about it...but then stopped myself!

Biggest bastard going!

I'd say he's going to get hammered tonight. He caved! Didn't see it through "his" way. Now he'll always be left wondering!

Hahahahaha...I'm being a big old cruel meanie! What the hell is the bastard supposed to do? No answers to this shit-show!

Bring the pig!

Im looking for 3626-ish....Just trying to read the tea leaves...

Excellent analysis as always, sir.

On a very basic fundamental level, I am starting to think that this is a significant, if not pivotal, point. For lack of need of a more formal term, we may well see some "hopium withdrawal" commence.

In spite of the fact that there is substantial easing in the Fed's policies, it is not quite the simplistic "look, here's the QE3 you've all been asking for!" that the markets wanted. The US equities certainly have been trading in the mode that good news was good news, but bad news was good news, too, because it was more reason for the Fed to act. That, perhaps, will begin to abate, and the equity market will have to price in the realities forward.

With regard to the financial system, I've been saying, and have said in this forum, that it would be politically expedient to let a "TBTF" institution fail. That is, in the US. I see no chance of that in Europe. I thought it was significant that Moody's not only apparently agrees with that assessment, but significant that they should put that mention in the opinion on BAC.

Bank of America would actually be a perfect candidate: they are underwater already in contingent legal claims, they own a huge amount of brick and mortar tailor made to launch a community bank initiative, and Merrill is probably worth a good deal spun off.

It's well understood that, dollar for dollar of assets, local lending is higher and more effective than lending by huge banks, because (a) they do not separate the credit risk from the income stream via derivatives, and hence have incentive to keep their portfolio well monitored, and (b) don't have the dis-economies of scale that preclude the big banks from being able to afford genuine loan officers in what they have started to call their local "stores."
It would be hard to get anyone, from Ron Paul to Barnie Frank, to find much to oppose in a community bank initiative. The corporatist middle...well, there's 14 months of re-election campaign coming up for them as well.

Turning to copper, I have to be bearish. It's in large supply, and one of the big sources of demand was its collateral and shadow banking roles in China. There are reports of common people have stocks of copper bars. Certainly a significant part of the price rise was actual industrial demand, but a part of it, I believe, was a bubble no less than were tulip bulbs. If right about that, then both the sword stroke of declining real demand, and the back stroke of loss of quasi-financial status will work against it. And, against the AUD, thereby, as well.

I'm also somewhat bearish on gold, by the way. I have seen it published in the last couple weeks that T-bonds are the "new gold." While I might not go that far, tonight, the long duration treasury bond stands as a store of value, with an effective put in the form of Op. Twist demand, and even still pays you to hold it.

So, summarily, I'm looking for a bit more rationality than we've seen, across the board. For the good of those on both sides of the Atlantic, I hope I'm not totally wrong.

i though she was gonna go for china

yes mate, eyes on 5333ish since last week.. not far nowi didnt take it as i was heavey in EU and was scalping heavey too

If by tea leaves, you mean the ones from an English Breakfast Tea, I would be in agreement.

London Lows are your target zone...

nice entry bro
goodluck 3624ish is a nice area to target, but again trade what your chart tells you
EDIT: just gone through the posts lol you have the same level 26 Gattor got the same area and Magix got the same level
SWEET!!!!

Great stuff, Q...some of your finest work!

Agree on the BofA thoughts. It almost seems like writing on the wall. Their legal woes are only set to increase with the international claims starting to appear now, too. I have NO idea how that works, but if they "fail," do any international claims fail with it? I have no idea what sort of international laws come into play, but...if its going to get ugly...may as well make it real ugly.

Fantastic post...many thanks!

I took a bite out of GJ a few minutes back. We'll see what happens. Hoping to forget about it until a rainy day. Just hope it isn't raining because of it.

i dont play in crosses yet as i haven't a clue about there PA
if i go into it without watching it properly first.. i ll be foooked i ll keep my hands off

I've nibbled again, V-man.

Really not wild about that daily close. 1.0090ish and I would have felt a little better, but this feels like bear territory. Will see what she brings.

Good plan!

GJ is...well certainly can be...a bastard. Well...a dragon...more traditionally, but...you know.

Small amounts...bit of fun, really.

26 is a m s3.. but 3541 or 46 is better,,
im just looking for tired candles to trigger my 5m...........
just saying.. we have a lot of h closes at 3600.. i posted earlier we need a lower high.. below 3629 is better. so the area from 3626 till 29 should be ok and 3630 Teflon coated.

Oh, man. Good Luck.

dont get crazy out there. it aint all about europe,