Well, this has been an exciting day 
- #687,383
- Sep 3, 2012 8:52am Sep 3, 2012 8:52am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
Ucad doing really good, I have 12 pips profit 
on my best entries.
on my best entries.
New voice message: Why are you calling me? If I need you, I'll call you!
- #687,384
- Sep 3, 2012 8:53am Sep 3, 2012 8:53am
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 1,053 Posts
Well, this has been an exciting day
"The market can remain irrational longer than you can remain solvent"
- #687,385
- Sep 3, 2012 8:53am Sep 3, 2012 8:53am
- Joined Feb 2012 | Status: Trader | 5,619 Posts
9 hours sitting at the computer and see no movement.draghi-piece of sh1t.stop trade for today.
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
- #687,387
- Sep 3, 2012 8:55am Sep 3, 2012 8:55am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
no need to listen to know what he will say - same old same old
we will do whatever it takes blah blah
we will do all that we can within our mandate (note that does not give them power for unlimited bond buying)
I think you are right, this is exactly what he is going to say. Cal me seer Tom.
However, I think people in FF are generally misguided and think, that while ECB cant buy PIIGS bonds, she is powerless. She is definitely not. Since the first time Draghi appeared on scene with his famous "whatever it takes" we are in correction up, and in lower timeframes, this correction appeares pretty strong.
It is needed to say, that "within our mandate" includes quite powerfull tools, like MRO and LTRO and possibly ratecut (which I think wont happen, but who knows). I think you saw, that since Drahgis speech, Spanish 10y bond yield were retracing down. This retracement finished on 21/08 and I think it is because he is hiding
and market was expecting he will deliver rather sooner, than later. Nevertheless, although he is hiding, he still has power. They dont necessarily have to buy those PIIGS bonds. Within their mandate, they can buy "other" stressed out markets, to refill Spanish banking sector with liquidity. For example, they can buy Spanish mortgages, because as you know, Spanish retail sector is down like 30% since 2008 and banks are overfilled with defaulting mortgages. Then, there will be more money left in banks, to buy those junk bonds. It is much more expensive way, than to buy those bonds directly, but still, it is a way. Moreover, how about change of regulations? Or how about lowering of collateral requirements? War is fought with all means necessarry and exploding balance sheets of both FED and ECB are proof of that.T
"I know one thing, that I know nothing." Sokrates
- #687,388
- Sep 3, 2012 8:59am Sep 3, 2012 8:59am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Hi,
I think you are right, this is exactly what he is going to say. Cal me seer Tom.
However, I think people in FF are generally misguided and think, that while ECB cant buy PIIGS bonds, she is powerless. She is definitely not. Since the first time Draghi appeared on scene with his famous "whatever it takes" we are in correction up, and in lower timeframes, this correction appeares pretty strong.
It is needed to say, that "within our mandate" includes quite powerfull tools, like MRO and LTRO and possibly ratecut (which I think wont happen,...
... Well put
Ghost Rider - WWTBMD?
- #687,391
- Sep 3, 2012 9:04am Sep 3, 2012 9:04am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
9 hours sitting at the computer and see no movement.draghi-piece of sh1t.stop trade for today.
http://cdn.c.photoshelter.com/img-ge...0/1180A155.jpg
Mohan
- #687,393
- Sep 3, 2012 9:05am Sep 3, 2012 9:05am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Don't blink your eye it might do 200 pip move any time
Ghost Rider - WWTBMD?
Don't blink your eye it might do 200 pip move any time
http://cdn.c.photoshelter.com/img-ge...0/1180A155.jpg
- #687,396
- Sep 3, 2012 9:11am Sep 3, 2012 9:11am
- | Additional Username | Joined Aug 2010 | 1,745 Posts
- #687,398
- Sep 3, 2012 9:12am Sep 3, 2012 9:12am
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
The Thief of Wall Street
- #687,400
- Sep 3, 2012 9:14am Sep 3, 2012 9:14am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
There's no such thing as holiday for banks. These mother friends should have Sinsday
Ghost Rider - WWTBMD?