The Really Useless Thread

yeah..
KEN is pissed.. he bought all way.. UP

just woke up. Shorts steam rolled but the long is 70 pips up. wtf happened? Not that I complain..

--Cleveland Fed official says US economy faces headwinds

--European market strains pose risks for growth, business confidence

--Outlook for inflation is close to 2% for next few years


(Adds quote from Pianalto in fifth paragraph.)


By Anusha Shrivastava
Of DOW JONES NEWSWIRES

NEW YORK(Dow Jones)--The U.S. economy, despite some improvement, faces significant headwinds, said a top Federal Reserve official Monday.

"To repair the damage from the last few years and speed the pace of employment growth, the economy needs to grow at a faster rate," said Sandra Pianalto, president of the Federal Reserve Bank of Cleveland. She was speaking at an event in Lexington, Ky.

The economy needs to expand at a rate of 2% just to absorb new entrants in the labor force, she said.

Consumers have had to reduce debt and are acting cautiously in an environment where the housing market is still in distress, gas prices keep going up and the strains in the European financial markets pose downside risks, she said.

"When the European debt crisis continued to worsen last year, business confidence fell," Pianalto said. "Getting confidence back is so critical to getting our economy to grow."

The central banker recently rotated into a voting slot of the Fed's policy-setting board.

"I expect the economy to expand at a moderate rate of 2.5% this year, followed by a slight pickup to around 3% next year," she said. "At the pace of growth I am anticipating, it could take as long as four or five years for the unemployment rate to fall to the 6% rate that I judge to be consistent with maximum employment."

As for inflation, she said she expects it to be "close to 2% on average for the next few years" unless gas prices keep climbing.

Bankers have a crucial role to play at this stage as they lend to new businesses.

Banks should make decisions in their long-term best interests and communicate with supervisors and regulators.

"Some regulatory and supervisory burdens will always exist," she said. "The challenge is to strike the proper balance where regulations and supervision are commensurate with the complexity and riskiness of banking organizations. Although judgments will be made, our goal is to add value."

me too...

We are at retest of bearflag area in fiber.....shaved head..my Ass.. Took one on the chin there....Closed remaining long @ 3139.... Re open short..FK!

Took some off AU long to ease the pain...bbl ..GL!

Can you spell election year?? Motherfuckers..

after i poke, i like a long pullback before thrust.. in the eu that 3200 area.. the chart show eg.. it never has to pullback.. but i hate drawdowns.. you can make more money with smaller trades this way..

I don't think that's that. I think they mean it.. but don't listen to me.. I'm so bullish bias it's not even funny. Not even for me..

fakk this. i'm just gonna follow the pink next time...

dont cry mate.. just feel sorry for anyone who is trying to fade this all day...

I said.. I am done for today EUR.. as I dont need more, but also..
I could wait for another setup to develop.. with or without.. indicators..
so..

just tape watching.. and relaxxxxx ...

thers a big mofu at 3150.1 3175.. 3200.4... and a tl here.. we still should go to 3177 min
another LM at 3237 (3274 3311) and a major tl at 3216ish

that would be me... lol

promise?

Before & After

yeah mate.. I know.. Im sorry
and not only you.. but well.. next time.. just focus more..

no euro shorts for me.. till gbp plays out. believe it or not.. we are at a major bearish place.. to dive.. a bull inside a bear..

No sweat my man.... Ive taken plenty of losses before....

I havent killed myself yet...

hard to expect we would have 6 str8 swings up... just misjudged the market badly this time

Sarangheyo....yamate Itai Itai OooOoo

pinky, you were right about ew and euro. it sucks ass..