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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #8,421
  • Nov 9, 2011 6:35am Nov 9, 2011 6:35am
Quoting AaronWard
Move to Italy or Greece. The women are prettier, the landscape is nicer, the weather is better and the rent is a lot cheaper.
Noooo. Malta
Those who say it cannot be done should not interrupt those who are doing it
  • #8,422
  • Nov 9, 2011 6:36am Nov 9, 2011 6:36am
Quoting PipTrapper
Considering the trigger happy fund managers are probably licking their chops right now at the prospect of grabbing some beaten down equities to add to their portfolio, this chart tells me it might be time for a swing high....
trigger happy traders get their azz's shot off
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,423
  • Nov 9, 2011 6:39am Nov 9, 2011 6:39am
Quoting Pbh
I'm getting the same.. US open usually goes agains early london. And since we have bernanke talking... I would not be surprised to see thes supply zone again (if he says anything about QE3)
this looks like relatively good news for the dollar - MBA Mortgages up to 10.3%, previous 0.2%

http://www.baltimoresun.com/business...,5054152.story
patience is a virtue
  • #8,424
  • Nov 9, 2011 6:40am Nov 9, 2011 6:40am
Will make this comment about Bernanke talk.

Although myself I think the man is Rabid there is this to chew on.

Bernanke is not in a position to talk the USD down as he is well aware that a weaker USD at this time will undermine any hope for the European economy to recover.

But if he is in his "Here I come to save the Day" mental state, this is an unbalanced man who deeply believes his own B.S. and there in lies the problem.
In short we are expecting another QE speech but if it does not come then the die is cast for USD strength.
  • #8,425
  • Nov 9, 2011 6:41am Nov 9, 2011 6:41am
Quoting The Fool
trigger happy traders get their azz's shot off
Traders yes. Investors? Not so much. At the moment there are tons of under valued equities up for grabs and forward looking investors see them as a good deal. Will they buy today, hard to say, but eventually they will anyway. They may get burned in the short term but the US economy seems to be on the road to recovery. At least that is the current consensus.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,426
  • Nov 9, 2011 6:46am Nov 9, 2011 6:46am
Closed all my short for a lot of PIPeronis. Today was good.
Seems we are stalling here for now. Waiting for US Open and the speech of Ben "whatever his last name is" before further action and a possible retrace and retry of 1.36
  • #8,427
  • Nov 9, 2011 6:49am Nov 9, 2011 6:49am
Quoting PipTrapper
Traders yes. Investors? .
Investors? Damn I thought they were extinct. Most of the volume in the US stocks and stock futures is algo-driven scalping and outright HFT. Hey anything can happen, though. Markets are crazy as hell. I'm even a little surprised to see the euro dropping - there wasn't even any flames jetting out of the Bundestag last time I looked.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,428
  • Nov 9, 2011 6:52am Nov 9, 2011 6:52am
Quoting PipKiller
Hey PT... Looks like a dislocated shoulder right now LOL
Hehehe.
"I know one thing, that I know nothing." Sokrates
  • #8,429
  • Nov 9, 2011 6:54am Nov 9, 2011 6:54am
ok PT was right - cue up the pullback we're about to open NY
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,430
  • Nov 9, 2011 6:55am Nov 9, 2011 6:55am
Quoting TheSwede
Closed all my short for a lot of PIPeronis. Today was good.
Seems we are stalling here for now. Waiting for US Open and the speech of Ben "whatever his last name is" before further action and a possible retrace and retry of 1.36
Wow Swede... that must have been a huge position you had. Look what you did to the price when you took your profit
Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #8,431
  • Nov 9, 2011 6:56am Nov 9, 2011 6:56am
Quoting The Fool
s&p futures are down 2.3% - does that give you an idea what the markets want today?
I thought the S&P drop was due to poor earnings by companies who released earnings after market close yesterday.
  • #8,432
  • Nov 9, 2011 6:56am Nov 9, 2011 6:56am
All In

Quoting PipTrapper
Wow Swede... that must have been a huge position you had. Look what you did to the price when you took your profit
  • #8,433
  • Nov 9, 2011 6:56am Nov 9, 2011 6:56am
I come back just to take a look how EURs doing, if it build the right shoulder yet... And whoa! "What happened to the market", as someone asked before.

My gut feeling was telling me that if we are to go lower, we may not manage to build the shoulder, but I was unable to pick the right level to enter the short, and am unable to do it today, as I will return home late... so, I am missing the train today

But, if it is similar drop like last, there should be some pullback to enter for falling Thursday and then probably some ranging Friday should follow . The drawback is that I may miss the pullback too. But, probably, still better to be out of a good trade than in a bad one.
  • #8,434
  • Nov 9, 2011 6:57am Nov 9, 2011 6:57am
Quoting knoholygrail
PipTrapper and other experienced trader's on this extremely knowledgeable thread understand what is going on.

I am sharing a word of caution here for all traders experienced and less experienced.

We are now in a Lehman type moment as we had in September 2008 as the EUR/USD had it's all time HIGH just over 1.6000

By the end of November 2008 it was around 1.2500

This time it is MUCH different as we have GAME CHANGING events not only in Europe. The USA has just as serious problems. We are in a race to the bottom in all fiat currencies.

The...
Good post but what are you implying?. A bear market? or just random volatility?. We already living the intervention age. BOJ, SNB, BOE, FED, ECB and most BRICs all of them are heavily involve in the markets via QE, bonds, setting up top/floors & bands and artificially devaluing or appreciating currencies....the currency war is way advanced by now.

History is very dark when this happens (pre WWI, intrawar and the 70s for the recent examples) from long period of times as it tends to translate beyond the monetary sphere (e.g US treating China with sanctions, etc,). At the beginning to the economic sphere with less free trade, more safeguards and protectionism hidden behind the nationalistic slogan on the rise and when it burst to even war and chaos....sadly history tends to repeat itself, hopefully not this time...

In simple words, bear market? well more than welcome for us traders. Chaos on wild volatility? no thank you I pass ....so far I stay with the sluggish outlook and if triggers bear market I am up for it but not in a chaotic world.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #8,435
  • Nov 9, 2011 6:58am Nov 9, 2011 6:58am
Quoting AaronWard
Move to Italy or Greece. The women are prettier, the landscape is nicer, the weather is better and the rent is a lot cheaper.
LMFAO
  • #8,436
  • Nov 9, 2011 6:58am Nov 9, 2011 6:58am
Quoting Blobik
...if it is similar drop like last, there should be some pullback to enter for falling Thursday and then probably some ranging Friday should follow . The drawback is that I may miss the pullback too. But, probably, still better to be out of a good trade than in a bad one.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,437
  • Nov 9, 2011 7:02am Nov 9, 2011 7:02am
All In

EDIT: Good for a 200 PIP move and scaled in for a total of 400. Best day ever Sitting on my hands now would like to see a retest of the rising trendline at 1.375 which we only had on M1.

Quoting PipTrapper
Wow Swede... that must have been a huge position you had. Look what you did to the price when you took your profit
  • #8,438
  • Nov 9, 2011 7:10am Nov 9, 2011 7:10am
Quoting PipTrapper
Noooo. Malta
... debt is smaller?
  • #8,439
  • Nov 9, 2011 7:16am Nov 9, 2011 7:16am
240 minute demand zone held despite the heavy pressure so far. IMHO something big squatting on the bid down there. Will need a break of 1.3560 to see the path opened up to 1.34 demand zone.

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I don't care which way the market is going as long as it's going my way
  • #8,440
  • Nov 9, 2011 7:17am Nov 9, 2011 7:17am
Quoting Blobik
... debt is smaller?
Better Parties
I don't care which way the market is going as long as it's going my way
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