EurAnalysis

Number is as expected. Not much to do, but one thing for sure. The Fed will definitely not be doing any QE3 crap.
Now we just have to wait until next week to see what the CBs do... and what Merkel has to say between now and then.

I was expecting a quicker drop down thru 1.23 than has happened.....wonder why?

Oh the goldbugs will be so sad about that. They're all sure the Fed will announce QE3 next week.

Spoke too soon :-)...slow reaction, though

Cancelled out of my 1625 gold short earlier!

I think you can stop worrying now Tom.... at least for now anyway.

Is it time to break out Maxwell?

Was thinking of you... Buy the rumours, sell the news

Okay we're now down 40, need another 210 to be happy today

American: The QE3 bandwagon just got a flat tire
European: The QE3 bandwagon just got a puncture



http://1.bp.blogspot.com/-xpfXgqmY6t...tire_wagon.png

Drop euro Drop.....

Sell limit triggered @1.2320 eurusd
Buy usdcad @ 1.0077
Sold nzdusd @ .80500

Let's see how Freaky Friday works out!

That is what happened.... IMO

Risk On Today However Euro has Issues outside of Risk On.

The Yield on 2 Year US Bonds is .24% and the Yield on 10 Year US Bonds is now 1.48%

Number is good at 1.5% ?

Wow we like GDP below or at 2.0% and that is not counting Europe's collapse followed by US Collapse.

We are in a RECESSION now ...

http://theeconomiccollapseblog.com/a...got-their-wish

Snippet:

6 On and 11 To Read ...

If you were hoping for a recession in 2012, then you are going to be very happy with the numbers you are about to see. The U.S. economy is heading downhill just in time for the 2012 election. Retail sales have fallen for three months in a row for the first time since 2008, manufacturing activity is dropping like a rock, sales of new homes are declining again, consumer confidence has moved significantly lower and a depressingly small percentage of businesses anticipate hiring more workers in the coming months. Even though the Federal Reserve has been wildly pumping money into the financial system and even though the federal government has been injecting gigantic piles of borrowed cash into the economy, we still haven't seen an economic recovery. In fact, we appear to be on the verge of yet another major downturn. In California the other night, Barack Obama told supporters that "we tried our plan — and it worked", but only those that are still drinking the Obama kool-aid would believe something so preposterous. The truth is that the U.S. economy has been steadily declining for many years and now we have reached another very painful recession.

And don't let the second quarter GDP number on Friday fool you. Analysts are expecting to see GDP growth of about 1.4 percent for the second quarter, but the only reason for our very small amount of "economic growth" is because the economy has been flooded with new dollars.

Let me give you an example. If I could go out overnight and magically double the bank accounts of every single American, would we all be twice as wealthy?

No, because there would be twice as many dollars now chasing the same amount of goods and services. The price of those goods and services would soon rise dramatically to reflect this new reality.

With all of those new dollars spinning around in the economy it would look like "economic growth" was going through the roof, but in reality the amount of real economic activity would be about the same.

So whenever we talk about GDP, we need to adjust it for inflation.
And as I noted the other day, after adjusting for inflation the U.S. economy has been continually experiencing negative economic growth since about 2005.

So let's not deceive ourselves. The U.S. economy has been declining for a long time.

But soon even non-inflation adjusted GDP will turn negative. We will probably see a slightly positive number for the second quarter, and the number will likely go negative either in the third quarter or the fourth quarter.

Economists will debate when this new recession officially "began" just like they do with every recession, but it doesn't take a genius to figure out what is happening to our economy right now.

The following are 17 reasons why those hoping for a recession in 2012 just got their wish....

1. U.S. retail sales have declined for three months in a row. This is the first time this has happened since 2008. Every other time this has happened in U.S. history (except for once) this has signaled that the U.S. economy was either already in a recession or was about to enter one.

2. The Philadelphia Fed index of manufacturing activity contracted for the third month in a row during July. According to the Financial Post, this is a very bad sign....

Seven out of eight times when the average reading has been that low (-11.8) for that long the U.S. economy has tipped into recession.

3. Manufacturing activity in the mid-Atlantic region has also declined for three months in a row. In fact, the only time in the past decade when manufacturing activity in the mid-Atlantic has fallen more dramatically was during the last recession.

4. A factory index calculated by the Institute for Supply Management has fallen to its lowest level since June 2009.

5. The Conference Board index of leading economic indicators has fallen for two of the past three months.

6. According to a recent survey conducted by the Conference Board, only 17 percent of CEOs had a positive view of the economy during the second quarter of 2012. During the first quarter of 2012, 67 percent did.
7. Gallup's U.S. Economic Confidence Index is now the lowest that it has been since January.

Okay. My hammer has been applied.

Now I shall step out and let the big boys piggy back on my trade

I'll be back in a couple hours.

I cant stop unless we are below 2287 again. Damn I must go out from the screen.

T

okay we're at 2275. Noe stop it

Ahhh Ha! I added

N/U @ .80559

GL

You're the man! Enjoy the beach (you said a couple of hours so it can't be another quicky with the wife )

i dont know how big a position ur taking but it will be helpful if u take smaller position and bigger time frame,that way u will have more time to plan and by having smaller position u wont loose ur objectivty.
the next question is how big is Big and How small is Small.the best solution is u have to individualise it to ur sleeping point,so the way i go about my position sizing is,before taking a position think about it and question urself Can i sleep soundly with this position without stoploss overnignt and if the answer is no then dont take the position and adjust and ask the same question and u will arrive at a certain number and that should be ur position in the market. just do this u will make money consistently,ultimatley once goal in the market should consistency and prolonging ur life as a trader and not making money.money is just the side effect of what u do correctly.God bless u


add: change ur name,to something positive[dont give me that reverse psychology Bs u know little things will add up],dont make things complicated for urself as life is already so complicated.