fxfox Posted August 16, 2007 Report Share Posted August 16, 2007 Australian Dollar/Japanese Yen weekly chart on the longer term perspective not that much has happend... Chart ?ffnen ... but shorter term we can call it a crash! (AUD/JPY daily chart) Chart ?ffnen Link to comment Share on other sites More sharing options...
Peek Paper Posted August 16, 2007 Report Share Posted August 16, 2007 As I said Tuesday : I'm with Doc, feels like she's gonna blow a major gasket here. Gasket to Casket velocity = 1 1/2 trading days. A rate cut the day of SPX expiry (Thursday close) should reverse this POS at the bottom of LW's Entertainment Zone (1380's). Afterwhich, much more carnage will follow. It will be the sucker bounce of The Age's. I, too, am SPOOked by the Pigmen's cudliness with the Bears lately. Prudence, Bears ... 599742[/snapback] Futures spell REDRUM Link to comment Share on other sites More sharing options...
Jetlag Posted August 16, 2007 Report Share Posted August 16, 2007 Everyone is going off in the media calling for doom and gloom while the markets are still blatantly overvalued. Nothing has happened yet, this paltry correction is still a long way from "fair value". Link to comment Share on other sites More sharing options...
Jetlag Posted August 16, 2007 Report Share Posted August 16, 2007 Shorty returns drenched in hookers and booze bought with shorting money - check Wndy 100% cash and taking a 3 day sabbatical from trading until the market is ready to turn down again - check If this thing doesn't bounce here it might as well crash. Link to comment Share on other sites More sharing options...
Peek Paper Posted August 16, 2007 Report Share Posted August 16, 2007 CME E-mini S&P 500? 1395.50 -1900 wake up time for the Street People ... Link to comment Share on other sites More sharing options...
fxfox Posted August 16, 2007 Report Share Posted August 16, 2007 DAX weekly still 1000 points to go for a test of the uptrend, looks like a "correction" to around 6000 is in the cards Chart ?ffnen DAX daily 100 points till we hit EMA 200 daily Chart ?ffnen look at last year in may/june, we got a correction from 6162 to 5243 thats 15%, so this year we topped at 8151, so a 15% correction would lead us to 6929, but i guess this will be more than a 15% after all Chart ?ffnen Link to comment Share on other sites More sharing options...
fxfox Posted August 16, 2007 Report Share Posted August 16, 2007 alternative energy gets bombed in germany today Link to comment Share on other sites More sharing options...
Jetlag Posted August 16, 2007 Report Share Posted August 16, 2007 DAX weekly still 1000 points to go for a test of the uptrend, looks like a "correction" to around 6000 is in the cards Chart ?ffnen DAX daily 100 points till we hit EMA 200 daily Chart ?ffnen look at last year in may/june, we got a correction from 6162 to 5243 thats 15%, so this year we topped at 8151, so a 15% correction would lead us to 6929, but i guess this will be more than a 15% after all Chart ?ffnen 600142[/snapback] FxFox, do you have any theory regarding the outperformance of the DAX versus the CAC and the FTSE? It's not just more beta, because it did go up much more but is coming down less. Link to comment Share on other sites More sharing options...
Jetlag Posted August 16, 2007 Report Share Posted August 16, 2007 Euro indices undercutting soup hort. Except for the Dax which is still hovering above the clouds for some reason. Maybe the ECB is the lender of last resort to Germany - period - others in the Euro Zone will have to mint some new currency and stick it to their tax prayers. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 Good to see our European posters active overnight here. I'd like to see more of you! Anybody in Europe with something to say, please register for the board. I'll get you approved as quickly as possible. Jetlag, of course, never sleeps. Link to comment Share on other sites More sharing options...
Jetlag Posted August 16, 2007 Report Share Posted August 16, 2007 Tan Man tapped enough money to pay is salary and insider selling, for now: "Countrywide Financial Corp., the biggest U.S. mortgage lender, tapped an $11.5 billion credit line to shore up its available cash. The unsecured credit line is with a group of 40 of the world's largest banks" "Countrywide five-year credit swaps climbed 250 basis points to 850 basis points" Wow, 40 biggest bagholders, wonder if there's any chinese financing this. Who's going to "merge" with CFC? http://www.bloomberg.com/apps/news?pid=206...nXTs&refer=home In other news, the trade war with china continues: "Tipped off by J&J, the U.S. Food and Drug Administration issued a nationwide consumer alert in October without disclosing the link to China. While no injuries were reported, inaccurate test readings may lead a diabetic to inject the wrong amount of insulin, causing harm or death, the agency said. Fake medicines are a $32 billion global business, says the World Health Organization, and the FDA says it ran 54 counterfeit investigations in 2006, almost double the year before." http://www.bloomberg.com/apps/news?pid=206...YwKc&refer=home The chinese haven't responded by restricting foreigner entrepreneurial activity in China so far... Madame Wu holding out on the bids is more subtle, they've got that gambler back bone. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 I think a big bounce is inevitable today. Crashes never occur on Friday. Monday and Tuesday are the best bet. The question is whether to cover and reload later, or just sit through the bounce for the truly big profits next week. For now, I am still holding my qid. If the selloff is sharp enough, I could take close out for now and try to reload later today or tomorrow. Only problem is, I don't know what's "sharp enough." I hope it's one of those things that I'll know it when I see it. On the other hand, I don't want to get too cute. Hmmm. Gotta make a plan here. At the moment, the 3 day cycle projection on the QQQQ is 45.25. spy 138.50 (probably good for around 1390 on spx. on the qid 50.50. ha ha. I guess it's a coin flip. At the moment, I'm inclined to take the 50.50. Have the same projection on some longer term cycles. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 Keep in mind that CFC is one of the Fed's primary dealers. They have a direct line to unlimited credit. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 I think a big bounce is inevitable today. Crashes never occur on Friday. Monday and Tuesday are the best bet. 600149[/snapback] Want to make clear that I do not expect a reversal day, just a strong bounce from the lows, wherever they may be. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 can anyone tell me if skype is down, or if I just have a network problem? Link to comment Share on other sites More sharing options...
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