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  • #7,061
  • Nov 2, 2011 5:18am Nov 2, 2011 5:18am
Quoting Tom_D_Trader
Ah. Found it at last. Bernanke is supposed to give a speech at 2:15. I know it is on the main site of FF, but I just dont trust it untill I see it.

http://www.federalreserve.gov/newsev.../20110324a.htm


It should be broadcasted live here:

http://www.federalreserve.gov/mediacenter/media.htm

T.
I always find it a lot more fun to watch on the 1 min chart. You don't know what he is saying...but it is pretty clear how the market feels about it.
Kill the ego, or it will kill the mission.
  • #7,062
  • Edited 5:54am Nov 2, 2011 5:36am | Edited 5:54am
Quoting Du Jin Shan
Attachment

The price keep hanging at the supply level, need some momentum to break the resitance, next target 1.3947 - 1.39015.
if cannot break the resistance, price will keep the downmove


Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 37 KB



Jin Shan
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #7,063
  • Nov 2, 2011 5:37am Nov 2, 2011 5:37am
As long as Bernanke keeps funding the European banking system via swaps, reality is aborted.
Bank runs do not matter as the deposit money removed is quickly replaced by the Fed.
This only sets up a bigger fall as the collapse will go systemic. Why would anyone in the CB's take measures that might resolve things such as actually calling a loss a loss.

Let it run is the motto and cover everyones ass.

I have Tulips to sell cheap, if anyone is interested.
  • #7,064
  • Nov 2, 2011 5:38am Nov 2, 2011 5:38am
Quoting AaronWard
I always find it a lot more fun to watch on the 1 min chart. You don't know what he is saying...but it is pretty clear how the market feels about it.
I am just out of positions. I "know" what he will say. No QE. But how do the markets react? Thats what I dont know. It is up and down when he speaks. Good for scalpers, bad for me.

But it seems markets are really turning against Bernanke. There are more and more comments on how reckless he is and I assume stocks will go down. But thats just an assumption, I still dont get what makes NY traders do those sick moves. I would sold EU into oblivion already. And still nothing.

EDIT: Btw Aaron I am trying to find that information about EFSF you found at Reuters, but well, all sites of EU just completely suck, and so do EFSF sites. It is a mess.

T.
"I know one thing, that I know nothing." Sokrates
  • #7,065
  • Nov 2, 2011 5:39am Nov 2, 2011 5:39am
Quoting foto
I have Tulips to sell cheap, if anyone is interested.
Rofl, let NY morons buy it.
"I know one thing, that I know nothing." Sokrates
  • #7,066
  • Nov 2, 2011 5:46am Nov 2, 2011 5:46am
Tom,
Mr. Corzine of MF Global is the first moron in chief.
Former Governor of New Jersey, right across the Hudson River from Manhattan.
A true Captain of finance and ace politician.

NY heavily bets on the Bernanke. They make a lot of money doing that.
So I am stuck with morals, but they generaly make all the money.
Ocaisonaly it flows this way.
  • #7,067
  • Nov 2, 2011 5:58am Nov 2, 2011 5:58am
Quoting foto

I have Tulips to sell cheap, if anyone is interested.

I'll take all you have.. this time it's different.
  • #7,068
  • Nov 2, 2011 5:58am Nov 2, 2011 5:58am
I dont get it. Could you expand here pls? Not on Corzine, I have just read this:
http://www.bloomberg.com/news/2011-1...m-d-cohan.html

But what do you mean by betting on Bernanke? I was talking about yesterdays buying @ NY, which killed my shorts.

By betting on Bernanke, you mean he helps US stocks?

T.
"I know one thing, that I know nothing." Sokrates
  • #7,069
  • Nov 2, 2011 6:01am Nov 2, 2011 6:01am
Warwick,
Am with you.
Bahamas = Beautiful

Tom will read your article
  • #7,070
  • Nov 2, 2011 6:05am Nov 2, 2011 6:05am
Quoting foto
Warwick,
Am with you.
Bahamas = Beautiful

Tom will read your article
... It has it's merits. Although sometimes I feel like I actually live in a resort.

(ps. got some sand for sale - short supply, act fast!)
  • #7,071
  • Nov 2, 2011 6:07am Nov 2, 2011 6:07am
Quoting Tom_D_Trader
I dont get it. Could you expand here pls? Not on Corzine, I have just read this:
http://www.bloomberg.com/news/2011-1...m-d-cohan.html

But what do you mean by betting on Bernanke? I was talking about yesterdays buying @ NY, which killed my shorts.

By betting on Bernanke, you mean he helps US stocks?

T.
Tom,

Traditionally Ben is good for stocks and bad for the dollar. Last time though, the opposite because there was no QE. The key is QE. If QE then risk on. If no QE then risk off.

Even the hope of QE means risk on. Just the thought of Ben speaking usually drives up the markets. This is why I was so surprised that yesterday was so risk off.

If the markets react badly to Ben, it will because they want QE and he didn't give it to them.
Kill the ego, or it will kill the mission.
  • #7,072
  • Nov 2, 2011 6:15am Nov 2, 2011 6:15am
Quoting AaronWard
Tom,

Traditionally Ben is good for stocks and bad for the dollar. Last time though, the opposite because there was no QE. The key is QE. If QE then risk on. If no QE then risk off.

Even the hope of QE means risk on. Just the thought of Ben speaking usually drives up the markets. This is why I was so surprised that yesterday was so risk off.

If the markets react badly to Ben, it will because they want QE and he didn't give it to them.
Perhaps your oversimplifying things... if only it were that easy.
There are many things, some stupid that cause price action we see.


I recall during Greenspan's tenure some market participant/analysts would look to see if he grunted while carrying his briefcase on "Interest Rate Day"

I suppose they figured. Heavier = Bad news (More paper - More explanation)
Lighter = Good news

Heck I heard some go so far as to see what the central banker had for breakfast. (Wonder if they got that fire in their belly)

The world of finance is weird.
  • #7,073
  • Nov 2, 2011 6:18am Nov 2, 2011 6:18am
Tom,
The author is hiding the real villian by blaming Corzine.

Corzine just did what he is supposed to do, he traded the "too big too fail doctrine" of Central Banking.
He just overleveraged and got a margin call.

Once the Central Banks decided they are bigger then the market, all incentive to earn money by working went the way of extinct ethics.

Bernanke has absolutely no belief in the self corrective measures that free markets take. He thinks he is the God to rule over it all.

When you were young, if you sold lemonade and it cost you a dime to make a glass. If you could only get a nickle for it, you would have learned early that being an efficent business person means costs have to be lower then sales. Pretty self evident.

But Bernanke is an intellectual who never sold a glass of lemonade. In his world if it costs a dime and you sell it for a nickle, well Bernanke will simply print the money and then you won't have to take a loss.

That in essence is current Federal Reserve policy. All the Bankers in NY know it, and they thus sell USD believing that Bernanke will keep being Bernanke.

To date the Financial institutions make the money. As long as following that trading strategy makes money why should they care about whether or not it it is sane. One trades to make money. This isn't a church where morality is meaningful.
  • #7,074
  • Nov 2, 2011 6:26am Nov 2, 2011 6:26am
Quoting foto
Tom,
The author is hiding the real villian by blaming Corzine.

Corzine just did what he is supposed to do, he traded the "too big too fail doctrine" of Central Banking.
He just overleveraged and got a margin call.

Once the Central Banks decided they are bigger then the market, all incentive to earn money by working went the way of extinct ethics.

Bernanke has absolutely no belief in the self corrective measures that free markets take. He thinks he is the God to rule over it all.

When you were young, if you sold lemonade and it...
My sentiments exactly... their simply does not exist any incentive to do anything really. as long as Bernanke has their back.

Whats more appalling than the wasted funds - bailout after bailout after bailout is the precedent is sets.

Whatever happened to actually working hard or even "working within our means" - is that beyond us now?

It appears the consumer, the bloodline of any given economy (N.America at least) always gets bamboozled.
  • #7,075
  • Nov 2, 2011 6:31am Nov 2, 2011 6:31am
He is not called "Bubbles" Bernanke for nothing.
  • #7,076
  • Nov 2, 2011 6:34am Nov 2, 2011 6:34am
Thanks to all three of you guys. Especially to foto, I really like your posts man.

Going for lunch.

T.
"I know one thing, that I know nothing." Sokrates
  • #7,077
  • Nov 2, 2011 6:53am Nov 2, 2011 6:53am
Quoting Tom_D_Trader
Thanks to all three of you guys. Especially to foto, I really like your posts man.

Going for lunch.

T.
Haven't posted in here before but I just wanted to second this.

Excellent thread guys
Anything can happen.
  • #7,078
  • Nov 2, 2011 6:54am Nov 2, 2011 6:54am
How do you think, mayor move will happen after ADP, after FOMC statement (& rates) or after press conference? In other words, will the market wait all the time until the conference? Or will it get bored and EUR may start some moves faster
  • #7,079
  • Nov 2, 2011 6:57am Nov 2, 2011 6:57am
Quoting ddinnov
Haven't posted in here before but I just wanted to second this.

Excellent thread guys
Thirded :-) While I treat the information I see in this (and all the other threads of FF) like a smoargasboard - I take what I like the look of and pass on everything else, really find there is some solid analysis coming out of some regulars in this thread.
  • #7,080
  • Nov 2, 2011 7:02am Nov 2, 2011 7:02am
Quoting Blobik
How do you think, mayor move will happen after ADP, after FOMC statement (& rates) or after press conference? In other words, will the market wait all the time until the conference? Or will it get bored and EUR may start some moves faster
Depending on the numbers will see
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