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  • #589,561
  • Jan 29, 2012 12:56pm Jan 29, 2012 12:56pm
Some bring millions to Vegas, some students play with their help.
Time to get ready for monday regular work
  • #589,562
  • Jan 29, 2012 12:59pm Jan 29, 2012 12:59pm
Quoting MidasFX
SYDNEY, Jan 29 (IFR) - Greece and its private creditors said on Saturday they were in the final stages of piecing together the final elements of a debt swap that would chop 100 BLN EUR off Greece's debt burden. Greek bondholders said the two sides were finalizing a deal along the lines proposed by EZ finance ministers chairman Juncker, but it appeared unlikely the deal would be finalized by the EU Summit takes place on Monday. According to AP - private investors would receive new bonds whose face value is half of the existing bonds. The new bonds...
With the EU summit in place tomorrow, could the friday night rally be buy the rumour, sell the news type of thing......
  • #589,563
  • Jan 29, 2012 1:00pm Jan 29, 2012 1:00pm
Quoting MidasFX
SYDNEY, Jan 29 (IFR) - Greece and its private creditors said on Saturday they were in the final stages ... but it appeared unlikely the deal would be finalized by the EU Summit takes place on Monday. ...

The interest rate or coupon on the new bonds was a major stumbling block in the negotiations with private creditors - who were until Saturday insisting it should be above 4.0%.
It kind of confirms what I and most others are saying. So far, the solution is just too painful to stomach. Instead of a full default they would settle for a partial default.

A default is a default is a default. No way getting around it.

They probably couldn't even satisfy those conditions. Only stretch it out to 2015.

That aside, the lemmings after hearing this will probably have the EUR/USD skyrocket up. Talk about cookoo.
Taigen Profit This Month: na
  • #589,564
  • Jan 29, 2012 1:03pm Jan 29, 2012 1:03pm
Quoting Whistlepips
With the EU summit in place tomorrow, could the friday night rally be buy the rumour, sell the news type of thing......
Its definitely possible that these sentiments could drive up the eur/usd. but these are only weekend fundies ( not my dept. ) it could go up it could go down, no one in the retail markets will know until it happens. lol
  • #589,565
  • Edited 2:34pm Jan 29, 2012 1:48pm | Edited 2:34pm
Shall we expect the EUR to grow in forthcoming days? Lets see what tomorrow will bring us.

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  • #589,566
  • Jan 29, 2012 1:54pm Jan 29, 2012 1:54pm
Just as an example.... When the market crashed back in 2008, regardless what the fundamental outlook Dow bounced from 6000. Now we're at 13000. That's 7000 points jump and still the fundamental side hasn't improved yet. So... Do we wait for solid fundies to back up the bulls? When that happens, I'm afraid well be at the top again. Lol.
  • #589,567
  • Jan 29, 2012 2:06pm Jan 29, 2012 2:06pm
Quoting Taigen
What does Greece have to offer other than painted seashells for tourists? They virtually have no economy. They just need to go back to their drachma to trade in their dried fish markets and open air street vendors.

I don't mean to offend anyone from Greece but am I wrong?
Yes you are totaly wrong. I am not from Greece andi have no intention to defend them. But guys honestly sometimesi just don't understand of what you are talking about when you say the euro will collapse. I don't know from where you are but americans or australians just see this as a currency (which is good when you just trade) but you don't understand europe at all (which is bad if you say things like euro will fallapart and why eu needs the greeks...pff).

So i dont know. Perhaps study some history...?
'You must be the change you wish to see in the world' . Gandhi
  • #589,568
  • Jan 29, 2012 2:08pm Jan 29, 2012 2:08pm
Inserted Video


Trading range for jan 30 2012
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  • #589,569
  • Jan 29, 2012 2:12pm Jan 29, 2012 2:12pm
Who else is extremely bullish on Gold ?
  • #589,570
  • Jan 29, 2012 2:20pm Jan 29, 2012 2:20pm
Quoting Link
Who else is extremely bullish on Gold ?
Me, long since 1700, looking for 1800 this week
  • #589,571
  • Jan 29, 2012 2:20pm Jan 29, 2012 2:20pm
If we do not close lower on Monday then we will go up all week. There will be a short squeeze.
  • #589,572
  • Jan 29, 2012 2:21pm Jan 29, 2012 2:21pm
Quoting Link
Who else is extremely bullish on Gold ?
I am short June 2500 gold call options. So as long as the price will stay lower then I am fine.
  • #589,573
  • Jan 29, 2012 2:24pm Jan 29, 2012 2:24pm
Quoting Link
Who else is extremely bullish on God ?
The Pope?
  • #589,574
  • Jan 29, 2012 2:29pm Jan 29, 2012 2:29pm
Quoting One billion
I am short June 2500 gold call options. So as long as the price will stay lower then I am fine.
This one will probably make you sweat, You probably sold for a very small premium.
  • #589,575
  • Jan 29, 2012 2:29pm Jan 29, 2012 2:29pm
Quoting phxmike
Yes you are totaly wrong. I am not from Greece andi have no intention to defend them. But guys honestly sometimesi just don't understand of what you are talking about when you say the euro will collapse. I don't know from where you are but americans or australians just see this as a currency (which is good when you just trade) but you don't understand europe at all (which is bad if you say things like euro will fallapart and why eu needs the greeks...pff).

So i dont know. Perhaps study some history...?
Absolutely agree!
  • #589,576
  • Jan 29, 2012 2:34pm Jan 29, 2012 2:34pm
Im also short from 1736 Apr looking for 1685 and then 1615.
  • #589,577
  • Jan 29, 2012 2:36pm Jan 29, 2012 2:36pm
Quoting sidhujag
This one will probably make you sweat, You probably sold for a very small premium.
I have been writing options on commodities and currencies for almost a decade now. So I have been around the block. I will start thinking about this position when gold reaches 2000.
  • #589,578
  • Jan 29, 2012 2:46pm Jan 29, 2012 2:46pm
oh def. bullish on gold -- 1800 next i think.
  • #589,579
  • Jan 29, 2012 2:49pm Jan 29, 2012 2:49pm
Quoting Taigen
Please. I am using absurdity to make a point.

Pick any financial institution commenting on Greece or just Google 'Economy of Greece'.

I don't think it is necessary to state the obvious.
No problem. Google says:
The economy of Greece is the 32nd largest in the world by nominal gross domestic product (GDP) and the 37th largest at purchasing power parity (PPP), according to data by the World Bank for the year 2010.[1][2] Per capita, it is ranked 29th by nominal GDP and 31st by GDP (PPP) according to the 2011 and 2010 data, respectively.

I can understand a lot of arguments and I myself as greek am embarassed and angry with my country but claiming greek economy is "selling seashells for tourists etc" comes a long way even as a way of making a point (a point that I don't object to)

Don't intend to start a long argument, just making a point that we should be more accurate and also sensitive since this is an international forum
  • #589,580
  • Jan 29, 2012 2:50pm Jan 29, 2012 2:50pm
Quoting One billion
I have been writing options on commodities and currencies for almost a decade now. So I have been around the block. I will start thinking about this position when gold reaches 2000.
So how much premium did you pocket for those options? At 2000 if you have to buy it back wouldn't you be in the hole pretty big?
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