Bungster Posted October 22, 2009 Report Share Posted October 22, 2009 I'm assuming every currency trader is gunning this? Looks like that thing wants to crash faster than a blind man driving a Mazzerati 100mph down the espressway while getting a hummer.... Link to comment Share on other sites More sharing options...
Drano Posted October 22, 2009 Report Share Posted October 22, 2009 Looks like that thing wants to crash faster than a blind man driving a Mazzerati 100mph down the espressway while getting a hummer.... If he's got a Maserati, why does he need a hummer? Link to comment Share on other sites More sharing options...
2faas Posted October 22, 2009 Report Share Posted October 22, 2009 I'm assuming every currency trader is gunning this? Probably, which would translate to about 1120-1130 on the spooz. But since I only trade the cd and ad, I'm only interested in 5250 in a tangential way. Link to comment Share on other sites More sharing options...
T_Slim Posted October 22, 2009 Report Share Posted October 22, 2009 I'm assuming every currency trader is gunning this? i hate that stinking pair. GBP\YEN that's my baby . . . Link to comment Share on other sites More sharing options...
2faas Posted October 22, 2009 Report Share Posted October 22, 2009 i hate that stinking pair. GBP\YEN that's my baby . . . Good God, what a mess that thing is. Link to comment Share on other sites More sharing options...
phatbubble Posted October 22, 2009 Report Share Posted October 22, 2009 Looks like a drift higher with some pasta support compression on ES 5 min chart. Long @ 1092.50. Be a bit surprised if we didn't get the Friday showgoose 1100 retest. Link to comment Share on other sites More sharing options...
DrStool Posted October 22, 2009 Report Share Posted October 22, 2009 Heard them reporting this story on the radio. They added "IRS Agents" to the list of fraudsters. They're investigating it, of course. The lack of competence in administering government sponsored programs is just unbelievable. How do you approve a loan for a 4 yr. old? This isn't government incompetence. This is private sector criminality. The government discovered the fraud. Now the question is whether anyone will really be punished. The problem is that the government creates the program, then allows the private sector to administer it. If the government administered it, NO ONE would get the money, at least not on time. Have you ever tried to get money out of a government Agency where the government runs the program? We have too much private sector involvement. The private sector is just as incompetent, and far, far more corrupt than the government. The people stealing all this money from the taxpayers are in the private sector. Now, is this a stupid, wasteful government program? Obviously yes. But the fact that it was a bad idea does not mean that the government administered it poorly. They set the conditions. They can't stop people from lying before the fact. In fact, by not punishing wrongdoing, you get more wrongdoing. If there's a problem in government it's that there's no law enforcement. If there was, we'd have to lock up probably 100 million people. What the government must do now is perp walks. By the hundreds, by the thousands, by the millions. Every bastard that lied on their mortgage application. Every mortgage broker or processor who induced someone to lie, who bumped a rate, who extorted an inflated appraisal should be facing a judge. But we have prosecuted no one for this crime. Unless and until we do, the crime wave will only grow larger. If you've worked on Wall Street, or in the mortgage business, you would know. 90% of the people on Wall Street are vermin. In the mortgage business it's 95%. Instead of punishing the crime bosses, we bail them out. If you know anything about vermin, you know that if you don't spray them with Raid once in a while, they just multiply and take over the whole environment. It's disgusting. Link to comment Share on other sites More sharing options...
DrStool Posted October 22, 2009 Report Share Posted October 22, 2009 Signs of Widening Gap – Professional Edition by Lee Adler, Thursday, October 22, 2009, in Money and The Fed, Professional Edition | Permalink |Comments (0) Edit The Treasury completed the withdrawal of $185 billion from its rainy day Supplementary Financing Program (SFP) account at the Fed this week with a massive cash management bill paydown. Total paydowns of $55 billion settling on Thursday were enough to send short term bill rates down to near absolute zero as we had expected. It was also enough to goose the stock market on Thursday. The markets took the huge refunding announcement in stride. They ignored, or were unaware that the government’s finances appear to be deteriorating at an accelerating rate. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information. Link to comment Share on other sites More sharing options...
phatbubble Posted October 22, 2009 Report Share Posted October 22, 2009 Unless this apparent swing move down aborts, there oughta be a shortable high tomorrow. A bigass gravestone doji would be just what we all need. Link to comment Share on other sites More sharing options...
T_Slim Posted October 22, 2009 Report Share Posted October 22, 2009 Good God, what a mess that thing is. Yeah it will give you a heart attack if you are not on the right side. But man on man does it pay off when you are right . . . it's seen better trading days. It's sucked so far this fall. We need more fear in these markets . . . Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 23, 2009 Report Share Posted October 23, 2009 EUR breaking out... Link to comment Share on other sites More sharing options...
Plantagenet Posted October 23, 2009 Report Share Posted October 23, 2009 A question for the board: it is now almost a year since the deepest gap in the deflation panic last fall. People who bought, say, mining stocks then, are up 3-4x in many cases. I have a number of holdings that I plan to sell in a few weeks, once the long-term capital gains time interval has elapsed. The rate differential is so great that it would pay me to defer selling them even if the items fell 40-50% in the next few weeks, i.e., the plane is on auto-pilot and the bombs are queued for release. Do you think there are enough people similarly situated that there will be macroscopic pressure on the markets starting in early November? Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 23, 2009 Report Share Posted October 23, 2009 Seeing aborted launch attempts in AUD CHF EUR NZD this may roll tonight.... Link to comment Share on other sites More sharing options...
2faas Posted October 23, 2009 Report Share Posted October 23, 2009 EUR breaking out... And just as quickly gettin whack-a-moled, so far. Link to comment Share on other sites More sharing options...
Jimbo Posted October 23, 2009 Report Share Posted October 23, 2009 WHY GOLD IS GOING UP - (AT LEAST IN USD) - A LESSON IN REALITY Now Goldmember owns US govt economic policy Govt controlls supply of USD - supply can be increased infinately Govt DOES NOT control supply of gold - fixed What does goldmember want Its a leveraged directional better (LDB) makes all its money betting on the direction of asset prices with other peoples money - currently long stocks/short USD Now to make asset prices go up - it needs cheap supply of USD chasing those assest. Cheap USD comes from BORROWING or PRINTING. Now borrowing has severe drawbacks - you have to pay the money back and pay interest. US govt running out of borrowers - FCB;s switching into more secure securities - interest rates go up - not good for asset price appreciation Not good for Goldmembers LDB/profits/ BONUSES So have to resort to printing Which is good for gold. Gold is an INVERSE index in the honesty of US monetary policy A faith asset - or lack of faith that the currency will not be debaunched. The faith in the honesty of US Government fiscal and monetary policy - is falling and so the price of gold is rising. Which is inevitable as US monetary policy is being used as a backstop and insurance policy for fall streets leveraged directional betting. By serving two masters the US govt is serving none. Link to comment Share on other sites More sharing options...
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