Man youre letting me down I entered at 1.3530 and i've 1.3580 in sight after that I'm never counter trending again!
Those who say it cannot be done should not interrupt those who are doing it
- #8,561
- Nov 9, 2011 2:30pm Nov 9, 2011 2:30pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
- #8,563
- Nov 9, 2011 2:37pm Nov 9, 2011 2:37pm
This is ridiculous. They won't survive in the long run and once the "market" have got a hold of this there is now way the ECB can revert it. Seems like the default risk in Italy might be bigger than in Greece due to the much larger economy.These are the Italian Bond Yields for today
2 Year = 7.20200%
3 Year = 7.51800%
4 Year = 7.38600%
5 Year = 7.56800%
6 Year = 7.45000%
7 Year = 7.44800%
[url="http://www.bloomberg.com/quote/GBTPGR8:IND"]8...
- #8,564
- Nov 9, 2011 2:37pm Nov 9, 2011 2:37pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I'm done for the day people. I missed taking the short at 1.38 so didn't get any pips. But at least I didn't lose any either.
Tomorrow is another day
I have placed a sell limit order at 1.3675 just in case Asia dumps some USD overnight. I doubt it will get triggered but it is worth a shot.
Good night
Tomorrow is another day
I have placed a sell limit order at 1.3675 just in case Asia dumps some USD overnight. I doubt it will get triggered but it is worth a shot.
Good night
Those who say it cannot be done should not interrupt those who are doing it
- #8,565
- Nov 9, 2011 2:40pm Nov 9, 2011 2:40pm
Good night. I have mine at 1.364
I'm done for the day people. I missed taking the short at 1.38 so didn't get any pips. But at least I didn't lose any either.
Tomorrow is another day
I have placed a sell limit order at 1.3675 just in case Asia dumps some USD overnight. I doubt it will get triggered but it is worth a shot.
Good night
- #8,567
- Nov 9, 2011 2:48pm Nov 9, 2011 2:48pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
The results suggest that Italy could sustain it (even with zero growth) for at least 12 months. I say it's a whole bunch of bunga bunga. We'll see.
Those who say it cannot be done should not interrupt those who are doing it
- #8,568
- Nov 9, 2011 2:56pm Nov 9, 2011 2:56pm
Looks like they at least anticipated this, now thats a start. 
EDIT: Wonder what they are doing tonight run a test to see how long they can survive 9%.
EDIT: Wonder what they are doing tonight run a test to see how long they can survive 9%.
I agree, despite the fact that the Italian Central Bank claims they ran a test to see how an 8% bond yield would affect them.
The results suggest that Italy could sustain it (even with zero growth) for at least 12 months. I say it's a whole bunch of bunga bunga. We'll see.
I'm done for the day people. I missed taking the short at 1.38 so didn't get any pips. But at least I didn't lose any either.
Tomorrow is another day
I have placed a sell limit order at 1.3675 just in case Asia dumps some USD overnight. I doubt it will get triggered but it is worth a shot.
Good night
Yay! Pips for everyone!
- #8,570
- Nov 9, 2011 3:04pm Nov 9, 2011 3:04pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Don't worry, I still think the world is jacked up on Hopium, and we should get the Greek PM announcement tomorrow, and I think that's good enough for at least a rally to 1.3950. lol
Like I said, tomorrow is another day. If this train is heading south, you can bet your account I'll be on it at some point.
Those who say it cannot be done should not interrupt those who are doing it
- #8,571
- Nov 9, 2011 3:07pm Nov 9, 2011 3:07pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Cisco Systems just reported earnings. 44cps vs 33cps expected and 11.3B revenue vs 11.03 expected. That should be good for for a few points on the equity futures. Yayy Hopium is back. 
Those who say it cannot be done should not interrupt those who are doing it
- #8,572
- Nov 9, 2011 3:28pm Nov 9, 2011 3:28pm
- Joined Apr 2007 | Status: Trader | 1,522 Posts
I agree, despite the fact that the Italian Central Bank claims they ran a test to see how an 8% bond yield would affect them.
The results suggest that Italy could sustain it (even with zero growth) for at least 12 months. I say it's a whole bunch of bunga bunga. We'll see.
thanks for the support, this is truly appreciated !
I see that you have a whole thread dedicated for the doom of euro
well....we'll see...
I do wanna point out that this whole craziness that has happened recently in the bond markets (especially today) is a very unfortunate outcome for Italy. This simply shows how a country's destiny can lie in the hands of it's creditors and their faith (read: fear).
This isn't about Italy not being able to service its debt suddenly. In the 90s Italy has had even larger debt to GDP ratio. While this isn't a good argument, it should at least be thought provoking.
Most of what has happened has to do with that fking Greece. Once you are forced to take a haircut it completely changes the way you think about gov debts. Up until today, gov debt payments have been taken for granted. It is risk free, or even if something really should happen, CB's or whoever would simply "buy you out".
Now, we have had clear messages that everyone is on their own (which in theory isn't a bad thing) we get a panic. It's as simple as that. It could happen to any country. Even U.S.. A lot of countries today have debts at levels where it takes serious reforms in public sector to even consider being able to repay it. And it takes years if not 10s of years. And until then ALL the cards are held by the bondholders. And they, whether we wanna believe it or not, are also human beings
take care.
- #8,573
- Nov 9, 2011 3:42pm Nov 9, 2011 3:42pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Piptrapper,
thanks for the support, this is truly appreciated !
I see that you have a whole thread dedicated for the doom of euro
well....we'll see...
First of all, you are very welcome. You have earned it.
As for this thread, I wouldn't say it is dedicated to the Euro's doom. It is however, currently focused on a bearish Euro and the target is around the 1.20 area right now. As things develop, that target may change.
The purpose of this thread is to bring together a community of serious traders who like to contribute what they know and/or take what they need in an environment that fosters respect for the fellow trader above all... not like some other threads which I am sure I don't have to actually name
If you've read the first post of this thread, then I need say no more.
If you'd like to join in, it would be a pleasure to have you.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
- #8,574
- Edited 4:37pm Nov 9, 2011 3:52pm | Edited 4:37pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts | Online Now
"If The Fool persists in his Folly he will become wise." - William Blake
- #8,575
- Edited 4:17pm Nov 9, 2011 3:53pm | Edited 4:17pm
Good news: Magical powers still intact. Decided to come back home later, so the EUR decided to go down further.
Bad news: No reliable trading signals... It seems as if it was going to keep falling and falling, yet it is not possible (or is it?) to reach 1.30 in a straight line. So, no idea for a trade... even a scalping one. Eventually, if she makes some double bottom, then maybe a tiny-tiny long might be considerable... with SL at BE asap, of course...
But probably too much risk.
ADD: Oh, missed Sydney open "minispike" lower. If were to enter any longs perhaps this was a good place to try... now I am too sleepy, goodnight. Please, bring her a bit higher so I can try some shorts guys
Bad news: No reliable trading signals... It seems as if it was going to keep falling and falling, yet it is not possible (or is it?) to reach 1.30 in a straight line. So, no idea for a trade... even a scalping one. Eventually, if she makes some double bottom, then maybe a tiny-tiny long might be considerable... with SL at BE asap, of course...
But probably too much risk.
ADD: Oh, missed Sydney open "minispike" lower. If were to enter any longs perhaps this was a good place to try... now I am too sleepy, goodnight. Please, bring her a bit higher so I can try some shorts guys
Hi Lumesh.
First of all, you are very welcome. You have earned it.
As for this thread, I wouldn't say it is dedicated to the Euro's doom. It is however, currently focused on a bearish Euro and the target is around the 1.20 area right now. As things develop, that target may change.
The purpose of this thread is to bring together a community of serious traders who like to contribute what they know and/or take what they need in an environment that fosters respect for the fellow trader above all... not like some other threads which I am sure...
This thread doesn't put any more doom discussion on the Euro than it currently deserves. If it looks like a rat, smells like a rate, guess what...it probably is a rat.
The Euro and its "zone" make their own strong case for their doom. We just want to profit off of it.
Make money money make money!!!
Good luck to you all...Fundies still rule the roost on the Euro!
