Cesarnc's market talk, gossips, rumours & fun

........Happy eastern weekend to all.......

.........with the wifi at a party ........

http://sphotos.xx.fbcdn.net/hphotos-...44294643_n.jpg

It's the USDCNY and oanda offers it. Looking at the H4 chart though, which is almost tradeable, I'm wondering what the Hell is going on. Just about every one of those long black bars occurs at the 12:00 bar. Is this a valid exchange and price feed or a broker created one? Are those regular as clockwork down bars the work of chinese computers turning USD reserves into CNY or just funky data.

Are we are watching the impending birth of a new global reserve currency so we're seeing it in utero so to speak? History in the making .... may you live in interesting times. Caution require. Buying the mandarin lessons might not be such a bad idea there, Chonchy.

Ahhh, the life of a millionaire - a rich man indeed .

My guess is that the oanda feed is funky data. Looking at the faster timeframes (M30, M15) there's whole chunks of time and price missing - periods of no liquidity and then of course gaps in time and price levels. Is anyone familiar with the CNY in the futures market if there is such a thing? What I'm getting at, is there a trust worthy price chart or is it just way too early in this game.

At some point if the yuan does becomes global reserve, its going to attract a huge crap load of money - could be a new paradise for traders.

Have no fear. Just because they are chinese does not mean that they can defy the laws of physics. If price moves its going to print support and resistance and I'm good to go if the liquidity is there (that might not be for a while). I'd love nothing better than to plunder the chinese vaults, now there's a game that turns my crank .

Here's an FF thread. Post near the bottom answers your question Chonchy about a CNY denominated bank account.

http://www.forexfactory.com/news.php?do=news&id=65729

http://finance.yahoo.com/echarts?s=U...urce=undefined;

hermit........ specs from optionsXpress........i do not trade this contract, and not familiar with the pricing either.

RMBK12 - Chinese Renminbi June 2012

Bid 0.15666/Ask 0.15898

Fundamentals




Contract Size 1,000,000 Chinese Renminbi Tick 0.00001 = $10.00 Contract Months H, M, U, Z Trading Hours 6:00 PM - 5:00 PM ET Settlement Cash Settled Initial Margin $1,620.00 Daytrading Margin n/a Maintenance Margin $1,200.00 First Notice Day n/a Last Trading Day 5/15/2012







https://charts.optionsxpress.com/cha...&cs=Underlying

3 mo | 6 mo

http://www.cmegroup.com/trading/fx/u...i-futures.html

CME has a product and Contract Specs for a Standard contract based on $100,000 USD(= RMB 648,300) and an E-micro contract based on $10,000 USD (= RMB 64,830)

...liking the increase in traffic and traders to the thread. A little busy as of late to try and pen any ditties.

Renminbi as a future reserve currency... well, I have postulated upon how the Chinese seem to be diversifying their Dollar holdings into paying for ownership of both physical gold, and prospective mines. All with the potential purpose of backing up their currency with some other than lies articulated in impeccable British, or American prose.

I trust more the man with dirty hands who speaks to me straight, than the man in the tie pontificating upon high.

I think any access to trading the Renminbi will be fraught with manipulation by the Chinese... they have a lot on reserve, and are very cautious of the sharks that circle their waters.

Roro53... liked the allusion to Don Quixote; sadly, there are no Gentlemen left in the modern castles of power within Europe - least of all, Spain.

That should put some spark in the game especially if liquidity comes to be.

Thanks RORO, I've actually got an Options Express account that I use to trade QQQQ off and on. Will check out contracts on RMB.

My work-out instrument... yes, I'm sweating after a minute into a trade on this instrument.

For a trader with a moniker that suggests a person of mellowed disposition, you sure give out vibes that would imply a darker, more risk-taking nature.

I think the descriptive noun that I am searching for is, nutcase.



I'm in...

i see a few new faces have joind this discussion. i have been gone for awhile, but i have stopped back to browse from time to time. was very frustrated at the end of last year with my trading, so i needed a vacation from it. now i am back and looking to make some pips this year.

some interesting philosophies in this thread but i would not take china as much of a threat as you might think. they are not big consumers. remember when everyone got all scared of japan years ago, where are they now???? china is worse cuz of their govenmental system. granted it isn't as messed up as ours with morons as our leaders, but it is even more corrupt that ours is. they fudge numbers worse than they do here.

...it's a case of who can fudge the best.

very subtle, condor, second the motion and vote myself in also.

on another note related to D Quixote in the context of Bernanke's Mar 13 speech which inferred more QE and rocketed the market then to be followed by a reversal off of the recent FOMC interpreted by a Bloomberg headline as a NO.

the point being it looks as if the central banks are somewhere between a rock and a hard place with Spain and Italy coming onto the debt heat in what appears to be quick order, LTRO or not. that coupled with the recent NFPs which according to Bloomberg this morning have vindicated (vindication for what!?.....for f**king up?! or is Bloomberg is giving another bj - pardonnez moi for the aside) the Chm's Mar 13 concerns expressed over weakening employment numbers all of which appears to construct a solid argument for more easing/printing.

the difficulty with bringing more earlier is it undermines the credibility of the planners as in "all of the king's men and all of the king's horses could not put humpty together again" kind of conundrum.

having already printed trillions i have to wonder if the central banks are willing to risk a significant sell off by not responding either verbally or by printing another round so soon or both.

no more and i think the Euro and US equity indexes are probably great sells or at the least pretty hard tops (but what do i know - caveate)

Bernanke, Yellen and Dudley are all up to speak this week so that may create an opportunity to get short at higher prices.

thanks for posting the G/Y charts, condor......i will be watching.

more about EZ;

http://www.zerohedge.com/news/painfu...holmesian-path

Hillary Texts

http://textsfromhillaryclinton.tumblr.com/

6th Apr 2012 | 544 notes


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5th Apr 2012 | 2,169 notes


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5th Apr 2012 | 4,409 notes


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leoandtelevision:
I’m sorry that I just beat every single one of you at this game.