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  • #8,941
  • Nov 10, 2011 9:46pm Nov 10, 2011 9:46pm
http://www.marketwatch.com/story/mom...teid=rss&rss=1

FRANKFURT (MarketWatch) — Mario Monti, an economist and former European Union commissioner, emerged on Thursday as the front-runner to succeed Prime Minister Silvio Berlusconi as Italy scrambles to save itself from financial collapse.
  • #8,942
  • Nov 10, 2011 9:51pm Nov 10, 2011 9:51pm
http://www.businessweek.com/news/201...on-crisis.html

Nov. 10 (Bloomberg) -- The Swiss central bank is resisting calls from executives and politicians to further weaken the franc amid investor demand for a haven from the region’s sovereign debt crisis.

[...]

“Obviously, they’re under enormous pressure,” said Peter Rosenstreich, chief currency analyst at Swissquote Bank SA in Geneva, by phone on Nov. 8. “Their verbal intervention has really convinced the market that the next move is going to be higher and that’s enormously effective without costing them anything. They’ll continue to use a very hawkish tone.”
  • #8,943
  • Nov 10, 2011 9:53pm Nov 10, 2011 9:53pm
http://www.businessweek.com/news/201...ond-italy.html

“France is starting to become more like a credit than a government bond,” said Gary Jenkins, head of fixed income at Evolution Securities Ltd. in London. “As Italy goes, so will the rest of the EU. It totally depends on Italy.”
  • #8,944
  • Nov 10, 2011 9:54pm Nov 10, 2011 9:54pm
And those are a few good articles to read while waiting for a pullback
  • #8,945
  • Nov 10, 2011 10:11pm Nov 10, 2011 10:11pm
Thank you Current events are making my head spin, but I am glad to be informed.

Quoting Pbh
And those are a few good articles to read while waiting for a pullback
It's easy to be humbled but hard to be humble.
  • #8,946
  • Nov 10, 2011 10:11pm Nov 10, 2011 10:11pm
I have shared this strategy before. I recently moved and I am not yet connected to cable and CNBC. When I connect I will demonstrate how the money flow will lead the charts as the asset classes change values.

The key is getting your entry down pat and that takes patience and means less trading. The purpose of trading is to make money. If you see EUR/USD heading down then be patient to short it at the top rather the middle. There are times that the volume is so low you should not trade.

Of course it is easy for me to state the obvious to me however once you learn how to follow the money flow your results should improve. I am off to bed now and not much expected for now until the Europe open. Watch the Futures and the price of Gold.

Good Evening
  • #8,947
  • Nov 10, 2011 10:14pm Nov 10, 2011 10:14pm
Quoting knoholygrail
The key is getting your entry down pat and that takes patience and means less trading. The purpose of trading is to make money. If you see EUR/USD heading down then be patient to short it at the top rather the middle. There are times that the volume is so low you should not trade.

Of course it is easy for me to state the obvious to me however once you learn how to follow the money flow your results should improve. I am off to bed now and not much expected for now until the Europe open. Watch the Futures and the price of Gold.
Patiently waiting, will do
  • #8,948
  • Nov 10, 2011 10:14pm Nov 10, 2011 10:14pm
I look forward to hearing more.

Quoting knoholygrail
I have shared this strategy before. I recently moved and I am not yet connected to cable and CNBC. When I connect I will demonstrate how the money flow will lead the charts as the asset classes change values.

The key is getting your entry down pat and that takes patience and means less trading. The purpose of trading is to make money. If you see EUR/USD heading down then be patient to short it at the top rather the middle. There are times that the volume is so low you should not trade.

Of course it is easy for me to state the obvious to me...
It's easy to be humbled but hard to be humble.
  • #8,949
  • Nov 10, 2011 10:18pm Nov 10, 2011 10:18pm

Bernanke Says That Any Criticism Of The Federal Reserve Is Based On “Misconceptions” Yeah, right


http://theeconomiccollapseblog.com/a...misconceptions

Federal Reserve Chairman Ben Bernanke is taking his show on the road in at attempt to help Americans feel better about the Federal Reserve.

[...]

"For a lot of people, I know, it doesn't feel like the recession ever ended." That probably helped a lot of people feel better. A few probably even had a good cry. But what Bernanke did not explain to the troops is that the Federal Reserve is very much responsible for the fact that unemployment is rampant, for the fact that the U.S. dollar is rapidly being devalued and for the fact that we have accumulated the largest national debt in the history of the world.
  • #8,950
  • Nov 10, 2011 10:23pm Nov 10, 2011 10:23pm
Quoting Pbh

Bernanke Says That Any Criticism Of The Federal Reserve Is Based On “Misconceptions” Yeah, right

"Although the Fed would obviously do all that we could to maintain stability and to keep monetary policy as easy as necessary to try to minimize the damage, I don't think we would be able to escape the consequences of a blow-up in Europe"

Oh, he would keep monetary policy "as easy as necessary".
Isn't that lovely - I bet that will be great for the value of the U.S. dollar.


I love this article
  • #8,951
  • Nov 10, 2011 10:34pm Nov 10, 2011 10:34pm
Say What? 30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry

http://theeconomiccollapseblog.com/a...o-laugh-or-cry

#4 (January 10, 2008) "The Federal Reserve is not currently forecasting a recession."
[...]

#6 "One myth that’s out there is that what we’re doing is printing money. We’re not printing money."
#7 "The money supply is not changing in any significant way. What we’re doing is lowering interest rates by buying Treasury securities."
#8 (November 21, 2002) "The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost."
#9 (March 28, 2007) "At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."
  • #8,952
  • Nov 10, 2011 11:19pm Nov 10, 2011 11:19pm
I would just like to point out that this is 3% inflation yoy. Which is not so bad a track record. And inflation is only a problem if it is so fast that it destabilizes the economy or if it is not matched by growth in income. My grandfathers dollar may have been able to buy 20 apples for every apple mine can buy... but my income is 40X greater so I have a lot more stuff.

However, even if I think a lot of "fed hating" smacks of group think, I am still supportive of a bit of Fed bashing. The single biggest problem facing us today is the disproportional control financial institutions have over our government. And the Fed is somewhere in the center of all that.
Kill the ego, or it will kill the mission.
  • #8,953
  • Nov 10, 2011 11:20pm Nov 10, 2011 11:20pm
come on
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  • #8,954
  • Nov 11, 2011 12:15am Nov 11, 2011 12:15am
PT, can you post if there's any change in US, London, and Asian hours? since I think I read a post that said London session opens at 2:00 EST?

That might be useful on the first post
  • #8,955
  • Nov 11, 2011 12:42am Nov 11, 2011 12:42am
Quoting Pbh
PT, can you post if there's any change in US, London, and Asian hours? since I think I read a post that said London session opens at 2:00 EST?

That might be useful on the first post
Phb,

This is one of my bookmarked sites.

http://www.forexmarkethours.com/
Kill the ego, or it will kill the mission.
  • #8,956
  • Nov 11, 2011 12:45am Nov 11, 2011 12:45am
Quoting Pbh
PT, can you post if there's any change in US, London, and Asian hours? since I think I read a post that said London session opens at 2:00 EST?

That might be useful on the first post
GM - no, 02:00 EST is the Frankfurt Open = 07:00 UK

The London Open is at 08:00 UK = 03:00 EST

So we have the FO in 15 mins as Europe wakes up....
Trading Levels with WRBs
  • #8,957
  • Nov 11, 2011 12:46am Nov 11, 2011 12:46am
Quoting AaronWard
Phb,

This is one of my bookmarked sites.

http://www.forexmarkethours.com/
Thanks I already had those times in my mind.. BUT, I think I read that because of Winter time or something, the markets opened at different hours.
  • #8,958
  • Nov 11, 2011 12:56am Nov 11, 2011 12:56am
Quoting Pbh
Thanks I already had those times in my mind.. BUT, I think I read that because of Winter time or something, the markets opened at different hours.
What I like about this site is the live chart which will let you know what market is or isnt open without having to do any thinking. I think FF has something similar, but it tends to be a bit buggy for me.
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Kill the ego, or it will kill the mission.
  • #8,959
  • Nov 11, 2011 1:10am Nov 11, 2011 1:10am
Quoting AaronWard
What I like about this site is the live chart which will let you know what market is or isnt open without having to do any thinking. I think FF has something similar, but it tends to be a bit buggy for me.
Nice graphic, but its a pity they forgot about the Euro, ECB etc
Trading Levels with WRBs
  • #8,960
  • Nov 11, 2011 1:17am Nov 11, 2011 1:17am
Quoting Islander
Nice graphic, but its a pity they forgot about the Euro, ECB etc
I use the FF calendar (which does not have market opening times) but as we all know ... it is buggy...
Kill the ego, or it will kill the mission.
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