EurAnalysis

down my friend...down

1.2969 is proving the obstacle.

its gonna break tonight

Yeah same feeling ..... 1.2950 barrier will be break today...Into any trade bro..? Whats your forecast on U/J..?
But Still Cha-Cha

focus on EU only now buddy
one pair comsume me a lot of energy,haha

Spain to order banks to stump up another €35B. Spain will order its banks to make further provisions of €35B ($45B) to cover loans made to property developers that are currently performing but could go sour as the economy weakens, Reuters reports. The banks have already written off €54B in real-estate debt. Spanish shares were -2.9% at midday in Europe, while 10-year yields were +18 bps at 6.02%. Opinion: Rain in Spain falls mainly on the banks.

Disney profit climbs 21% despite "John Carter" flop. Disney (DIS) overcame the $200M writedown of "John Carter" in FQ2 to record a 21% jump in net profit to $1.14B. Adjusted EPS of $0.58 beat consensus, as did a revenue increase of 6% to $9.63B, boosted by Disney's theme parks and TV units. And with "The Avengers" taking in $702M globally in just two weeks, FQ3 should look even better. It's no suprise Disney's planning the sequel. Opinion: Disney's strong performance drives shares.

Top Stock News
KPN turns down Carlos Slim. KPN (KKPNY.PK) has rejected America Movil's (AMX) offer to raise its stake in the Dutch telecom carrier to 28% from 4.8%, saying the €8-a-share bid from Carlos Slim's company substantially undervalues it. Opinion: A closer look at KPN's potential.
Green Mountain founder forced out. Green Mountain (GMCR) founder and Chairman Robert Stiller and fellow director William Davis have been forced to resign from the company's board because of margin calls that required them to divest millions of shares in the firm. The departures follow the precipitous drop in Green Mountain's stock price last week after it provided a dismal outlook in its FQ2 report. Opinion: Green Mountain's capital expenditures raise questions.
ResCap creditors to support "prepacked bankruptcy." Ally Financial has received oral pledges from ResCap's bondholders to support what would be a "prepacked bankruptcy" of the mortgage unit, Bloomberg reports, with investors negotiating what they would receive in a settlement and so avoid lots of legal hassles. Ally has also been in talks to sell parts of ResCap to Fortress (FIG). Opinion: Ways to play the Ally news.
Toyota rebounding in style. Toyota's (TM) FQ4 operating profit jumped more than five-fold to $3B and the car giant said it expects the metric to triple this FY to ¥1T as vehicle production recovers from post-disaster lows. It would beat consensus of ¥990B and would be the highest since the financial crisis began. Opinion: Toyota: Sleeping giant with great long-term prospects.
Cisco expected to report solid FQ3 as turnaround continues. Cisco (CSCO) is scheduled to release its FQ3 earnings after the bell today, with analysts predicting that EPS rose to 0.47 from 0.42 and that revenue increased 6.5% to $11.57B. Sterne Agee's Shaw Wu has forecast a solid quarter after conducting supply chain checks, and while he only expects in-line guidance, he continues to view Cisco as a major turnaround story. Opinion: 7 reasons to buy Cisco before earnings today.
Freddie to appoint Donnie as CEO. Freddie Mac (FMCC.OB) is preparing to name Donald Layton as its next CEO, the WSJ reports. Layton, who held the top job at E-Trade, would be the mortgage giant's third boss in four years. An announcement could come tomorrow. Opinion: Shadow banks are not the problem.
Nelson Peltz buying into Ingersoll-Rand. Nelson Peltz's Trian Fund Management is expected to report it took more than a 7% stake in industrial conglomerate Ingersoll-Rand (IR), the WSJ reports. The $900M position would be the activist investor's largest in a single company and would make it one of Ingersoll-Rand's biggest shareholders. Opinion: Hope springs eternal at Ingersoll-Rand, but should it?

Top Economic & Other News
China could postpone leadership congress. China's Communist Party may delay its five-yearly congress to between November and January from September or October as it debates the size and makeup of the new politburo, Reuters reports. While the delay would be short and not without precedent, it would come against the background of Bo Xilai and rumors of internal wrangling, and so may unnerve financial markets. Opinion: China's competitive edge: Beyond cheap labor.
Thieves bilk IRS for billions. The IRS failed to stop the issuance of billions of dollars in fraudulent tax refunds in 2010 to scammers who stole taxpayers' identities, reports the agency's watchdog. If the IRS doesn't do a better job of catching improper refunds, it could end up refunding as much as $26B to identity thieves in the next five years. Opinion: Will the consumer return?
German exports rise. Germany's trade surplus remained unchanged at €13.7B in March vs. a consensus of €13.5B as exports unexpectedly rose for a third month in a row, with demand outside the eurozone offsetting weaker sales in Europe. Germany's current account surplus widened to €19.8B from €11.7B in February. Opinion: Time to invest in European banks?
U.K. lobbies for delay to Iran oil insurance ban. Just as the screws on Iran are tightening, the U.K. wants a six-month delay to the EU's key ban on the provision of insurance for tankers carrying Iranian oil, Reuters reports. The move is designed to give the likes of Japan and South Korea more time to find alternative crude suppliers and so avoid a spike in prices. Other EU members are yet to be convinced. Opinion: 20 events that would render QE3 worthless.

Today's Markets:
In Asia, Japan -1.5%. Hong Kong -0.8%. China -1.6%. India -0.4%.
In Europe, at midday, London -1.0%. Paris -1.1%. Frankfurt -0.4%.
Futures at 7:00: Dow -0.7%. S&P -0.9%. Nasdaq -0.9%. Crude -0.7% to $96.32. Gold -2.3% to $1584.00.

Today's economic calendar:
7:00 MBA Mortgage Applications
10:00 Wholesale Trade
10:00 Fed's Kocherlakota: 'Toward a More Transparent FOMC'
10:30 EIA Petroleum Inventories
1:00 PM Results of $24B, 10-Year Note Auction

Still to Big to Fail

http://hosting.fyleio.com/17735/publ...chers_mitt.jpg



While the sobering news from Europe has finally started to weigh on US stocks, I thought I’d add gasoline to the fire and remind everyone of the twisted morass that’s our own domestic financial situation.

The top 5 banks in the US now account for a massively disproportionate amount of the derivative risk in the financial system. Specifically, of the $250 trillion in gross notional amount of derivative contracts outstanding (consisting of Interest Rate, FX, Equity Contracts, Commodity and CDS) among the Top 25 commercial banks (a number that swells to $333 trillion when looking at the Top 25 Bank Holding Companies), a mere 5 account for 95.9% of all derivative exposure.

The top 4 banks: JPM with $78.1 trillion in exposure, Citi with $56 trillion, Bank of America with $53 trillion and Goldman with $48 trillion, account for 94.4% of total exposure. As historically has been the case, the bulk of consolidated exposure is in Interest Rate swaps ($204.6 trillion), followed by FX ($26.5TR), CDS ($15.2 trillion), and Equity and Commodity with $1.6 and $1.4 trillion, respectively.

And that's your definition of Too Big To Fail right there: the biggest banks are not only getting bigger, but their risk exposure is now at a new all-time-high.

Good thing Backstop Ben and Congress are always ready with their catcher’s mitt.

Trade well and follow the trend, not the so-called “experts.”

Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.

LOL...
H1 and H4 also supporting bearish trend but any +pos news can spoil my view (But I will follow my charts rather then news )

just stick to the chart whatever happening,saw some traders blow their account last time by keep shorting when UK release their GDP -2

Barchart.com Morning Call for Wednesday, May 9, 2012

Overnight Developments

1. E-mini S&Ps are down 11.25 points (-0.83%) this morning and commodity prices are mostly lower as the markets wait to see if the anti-bailout Greek Radical Left Syriza party will be able to form a government.

1. Gold is down $19.50 this morning, copper is down 1.07%, and crude oil is down 79 cents. Grains are lower while meats and softs are mixed. The dollar index is up 0.32% this morning and EUR/USD is down 0.24% on the Greek uncertainty.
   
   
   European stocks are trading lower with the Euro Stoxx 50 down 1.03%. Syriza Radical Left leader Alexis Tsipras will meet later today with other Greek party leaders in an attempt to form a government. Mr. Tsipras is scheduled to meet with Pasok leader Venizelos at 11 AT ET and New Democracy leader Samaras at Noon ET. Mr. Samaras yesterday refused to agree to Mr. Tsipras' demand that he send a letter to Eurozone officials renouncing the written promises he made earlier to uphold the terms of the bailout agreement. Mr. Samaras said he was being asked "to put my signature to the destruction of Greece," which indicates that he is not amenable to participating in a coalition government with Syriza. If a coalition government cannot be formed, then new Greek elections will have to be held in June. The Greek finance ministry has said the country may run out of cash by the end of June if a new government is not in place to meet the conditions for the next Eurozone bailo ut payment.
   
   
   The Greek situation is raising the risks for other troubled European countries. The 10-year Spanish bond yield today rose by 17 bp and the Italian yield rose by 10 bp. 5-year credit default swaps on Spanish debt rose by 8 bp to 506 bp, just below the recent record high of 510.5 bp on April 16.
   
   
   In some good news for Europe, Germany today reported that its March trade surplus of 17.4 billion euros was larger than expectations of 14.3 billion euros and that March exports rose +0.9% m/m, much stronger than expectations of -0.5% m/m.
   
   
   Asian stock markets today closed lower across the board on the European travails: Japan -1.49%, Hong Kong -0.75%, China -1.91%, Taiwan -0.93%, Australia -0.91%, Singapore -1.06%, South Korea -0.89%, India -0.40%. Japan reported its March leading index at 96.6, which was weaker than the consensus of 96.9 but was up from Feb's revised 96.0 (preliminary 96.3). The coincident index rose to 96.5 from 95.2 in Feb and was stronger than the consensus of 96.2.
   
   In some good economic news for China, April passenger-vehicle sales rose by 13% to 1.28 million units, which was stronger than the market consensus of +11.3%. An official of the China Association of Automobile Manufacturers said that the association sees "signs of recovery" after the Chinese vehicle sales in Jan-Feb had their worst 2-month start to the year since 2005.
   
   
   China today announced a 3.5% cut in maximum retail gasoline and diesel prices effective tomorrow. That was the first fuel price cut since last October and will be welcome by Chinese businesses and consumers.

1.2950 barrier just got kissed... but not broken yet.

Smells like a stop hunt to flush out the remaining bulls.

1.2943 Barrier is toast

WooHoo

Next 1.2931 Daily Low January 25

1.2900 Round Number Level

Inside Range
Fakey break
Retail Stop
Break down

Possible up ? let it Just ride,accept the loss if hit..whatever the moves,always maintain a correct mindset,dont let the market manipulate ur mind..Just stick to the chart and to the game

Kicked out my trade, but still thinking & watching closely

Where is todays ATR level..?

Gold is selling off along with Oil. USD/CAD at 1.0059 and USD/JPY strong at 79.54

EUR/CHF at 1.2009 with EUR/JPY at 1.0292

Dow Futures Down 90 and Yields On 2 Year US Bonds are now .25% and 10 Year is 1.80% with the Spread at 155 Basis Points.

Don't Assume Anything...

There is No Bottom now. Anything is possible when Panic sets in. Be Patient and have a GOOD REASON to do a trade. Good Trading...

Closed half of my position , the remaining half I will let it run and see how 1.29xx will react

Good MM ;-))))

You think that this is the onset of a structural panic?

Todays moves have been largely messy...confused. Even the bigger moves have been charges at levels rather than systematic tripping of stops or liquid moves. Confusion reigns.