Lemur Posted May 20, 2010 Report Share Posted May 20, 2010 A move above 1.25 on EUR/USD and we're going to get the mother of all squeezes. Yep and look where we are on the aussie weekly also. That purple line is now a flashing light for me. Link to comment Share on other sites More sharing options...
TenaciousG Posted May 20, 2010 Report Share Posted May 20, 2010 Europe getting fugly - opened green +.5% with the DAX to go red first. Link to comment Share on other sites More sharing options...
DrStool Posted May 20, 2010 Report Share Posted May 20, 2010 I just finished the Pettis article that someone linked last night. Phew! I'm exhausted. http://mpettis.com/2010/05/don%E2%80%99t-misread-the-trade-implications-of-the-euro-crisis-for-china/ Link to comment Share on other sites More sharing options...
I_Am_Madness Posted May 20, 2010 Report Share Posted May 20, 2010 I think that was it at 1178. I went long at 1181... Stop below 1170... Hope that was it. Moving stop to entry at 1181. rtq at 1187. Link to comment Share on other sites More sharing options...
phatbubble Posted May 20, 2010 Report Share Posted May 20, 2010 Initial Claims 471K vs 440K fcst Continuing Claims 4625K vs 4600K fcst Shorty's Reamcovery is proceeding apace Link to comment Share on other sites More sharing options...
TenaciousG Posted May 20, 2010 Report Share Posted May 20, 2010 Euro (6E) now in the green Link to comment Share on other sites More sharing options...
Lemur Posted May 20, 2010 Report Share Posted May 20, 2010 http://online.wsj.com/article/SB10001424052748704691304575254683361456058.html?mod=WSJ_Markets_LeadStory Guess its time to buy the euro. Already long. Link to comment Share on other sites More sharing options...
ChicagoBear Posted May 20, 2010 Report Share Posted May 20, 2010 This seems to jive with what dharma is saying: http://jessescrossroadscafe.blogspot.com/2010/05/gold-is-in-classic-cup-and-handle.html Any thoughts about Jesse's analysis? I love Jesse's work, but I've got a problem with the cup and handle analysis. Coming from the IBD school of cup and handles, the handle should not form above the left side of the cup. A sound handle will form in the upper half of the cup and starts <15% from the highs. This is a high handle, and it would be a warning sign that the break-out could fail. According to IBD, you should not buy cups with high handles. An alternative analysis is that gold broke-out from a severe cup and handle back in Oct. 09, ran to new highs, and has simply pulled-back (what Jesse is calling a cup). Since this new "cup" did not fall back below the previous high (somewhere between $1,030-1,040), it is a continuation of the original break-out. In other words, I'm treating this like a pull-back, which will provide an opportunity to add to your positions. But I do agree with him - gold is going higher. Link to comment Share on other sites More sharing options...
Lemur Posted May 20, 2010 Report Share Posted May 20, 2010 Hope that was it. Moving stop to entry at 1181. rtq at 1187. $1155 looks like the daily cart entry for gold to me, if it shows signs of turning there. Link to comment Share on other sites More sharing options...
Lemur Posted May 20, 2010 Report Share Posted May 20, 2010 Target on aussie 84, eurusd open target. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted May 20, 2010 Report Share Posted May 20, 2010 $1155 looks like the daily cart entry for gold to me, if it shows signs of turning there. 1191 Link to comment Share on other sites More sharing options...
ChicagoBear Posted May 20, 2010 Report Share Posted May 20, 2010 Good morning Doc! From your Fed report, I'm aware of the huge amount of new cash the Trashury will be begging for next week. Do you happen to know how much will be maturing? I'd like to figure the total amount of borrowing on the horizon next week. Tanks! Link to comment Share on other sites More sharing options...
DrStool Posted May 20, 2010 Report Share Posted May 20, 2010 As we left off yesterday, the 3 day cycle proj was around 1083. Get daily updates on the 4 week, 6-7 week, 13 week, and 6 month cycle projections in the Wall Street Examiner Professional Edition Daily Market Update and support your community. Join NOW! Link to comment Share on other sites More sharing options...
DrStool Posted May 20, 2010 Report Share Posted May 20, 2010 5 hr cycle proj 1090 Link to comment Share on other sites More sharing options...
DrStool Posted May 20, 2010 Report Share Posted May 20, 2010 3 day cycle proj appears to have dropped back to 1076, which is closer to where it looked earlier yesterday. Get daily updates on the 4 week, 6-7 week, 13 week, and 6 month cycle projections in the Wall Street Examiner Professional Edition Daily Market Update and support your community. Join NOW! Link to comment Share on other sites More sharing options...
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