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Forex Forum Archive for 11/07/2007

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Syd .. 23:52 GMT November 7, 2007 Reply   
WASHINGTON (AFP)--The White House said Wednesday it was "concerned" about the situation in Georgia and called for a "constructive dialogue" between the government and the opposition.
The health ministry said 360 people had asked for medical help and that 109 had been hospitalized after running battles with police, who fired rubber bullets, tear gas, and water cannons.

isr jweb 23:49 GMT November 7, 2007 Reply   
this is real war.. the euro lowering a titbit in order to raise usd/jpy - then comes and picks him up. its amazing to see how this works.

St. Pete Islander 23:47 GMT November 7, 2007 Reply   
van Gecko 23:28 .... Cheers! Hope you are well. Could be time to see gravity restored? gl

Springdallah RJK 23:41 GMT November 7, 2007 Reply   
eur/usd
decided to short at 1.4628 looking for 1.4550
perhaps it is risky so have set trailing stop

Syd .. 23:31 GMT November 7, 2007 Reply   
RBNZ likely to hold rates at current high 8.25% for sometime despite some comforting news from decline in 3Q jobs, says HSBC chief economist John Edwards; adds unemployment hitting fresh record low of 3.5% will make RBNZ uneasy; but at same time, employment decline consistent with some emerging weakness in housing market, exceptionally strong NZD, earlier indications of fading business investment

van Gecko 23:28 GMT November 7, 2007 Reply   
a little nudge from those shadowy Men In Black massaging the lines could send the 1.50 turkeys reeling behind the lead Crosses..

morning jkt-aye.. good to see you again..

Syd .. 23:27 GMT November 7, 2007 Reply   
FX focus tightly on Japan stocks, with any sharp fall likely to spark USD/JPY sales driven by risk-reduction, says Mizuho Corporate Bank senior trader Shuichi Kanehira. "Players will probably try to see how low they could push" pair. Outlook for Nikkei-225 index grim; stock traders speculate index could fall below 16000 level for 1st time since Sept. 18 to somewhere between 15780-15950, following Wall Street selloff overnight. Kanehira tips initial USD/JPY support to 111.80 vs last 112.46; if that level broken, 2nd support at Aug. 17 low of 111.60.

toronto Dr Unken Katt 23:18 GMT November 7, 2007 Reply   
hyena is still short dude
1st stop 23350
2nd most important 23130

Brisbane Flip 23:17 GMT November 7, 2007 Reply   
well maybe not "everything". $JPY is up like 25pips

isr jweb 23:15 GMT November 7, 2007 Reply   
moaco. u work around the clock? will we see 235 to night (gbp) or is the jpy going for a rest?

Syd .. 23:10 GMT November 7, 2007 Reply   
NZD/USD may continue on downward track due to weak Wall Street, NZ employment data which gave mixed message on inflation, says Westpac currency strategist Michael Gordon; "At the moment the U.S. daollar is making a bounce against everything. Wall Street had a pretty poor close and I think that sentiment is still flowing through to currencies." Adds NZ 3Q jobs data showing "surprise fall in jobs" also hurts Kiwi's case; "The case has been slowly building for further rate hikes and this data doesn't really support that." Notes there's still interest in selling NZD, strong trend line support doesn't come in until sub-0.7600 area.

Springdallah RJK 23:02 GMT November 7, 2007 Reply   
Eur/USD

there is some speculation about a reversal due to a stronger usd
I cant see any technical reason to consider this and would assume that it is just another pullback before a rally to 1.48

does anyone agree ?
or am I just optimistic of this continuing euro rally

jkt-aye 23:02 GMT November 7, 2007 Reply   
Pecs Andras 22:31 ...

i have my magnetic level on gbpusd 2.0930 (30M) and 2.0910 (1H). gtgl

Monaco Oil man 23:02 GMT November 7, 2007 Reply   
Well that was quick pips on GBPJPY.
Should definitely see a second downside wave now.
GL.

Syd .. 22:55 GMT November 7, 2007 Reply   
Morgan Stanley Ended 3Q With $12.3B US Subprime Balance-Sheet Exposure
Ended 3Q With $10.4B US Subprime Net Exposure
Losses Could Increase Depending On Market


Syd .. 22:44 GMT November 7, 2007 Reply   
Ford Faces $2 Bln UK Pensions Shortfall - FT
http://www.ft.com/cms/s/0/e81292cc-8d6c-11dc-a398-0000779fd2ac.html?nclick_check=1

Pecs Andras 22:31 GMT November 7, 2007 Reply   
CAd already corrected over 300 pips, while pound only some 80.
Do you guys see any sizebale correction in cable too? If yes, what is the downside target?

Syd .. 22:29 GMT November 7, 2007 Reply   
Bank write-offs forecast to top $60bn

http://www.ft.com/cms/s/0/1f01ecae-8d6a-11dc-a398-0000779fd2ac.html?nclick_check=1

Gen dk 22:28 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

tokyo nick 22:25 GMT November 7, 2007 Reply   
oh, what happen?

Maribor 22:24 GMT November 7, 2007 Reply   
jkt rick 21:36 GMT November 7, 2007

Regarding exports: 10% drop of USD REER(real efective exchange rate) lower USA deficit in current account for ~1% GDP. Typical value for other countries is 4% GDP current account change per 10% change in real efective exchange rate.

dc CB 22:24 GMT November 7, 2007 Reply   
index futures still falling. SnPmini down another 14pts, Nas 100 mini down another 26 pts.

AZUSA 4x-ed 22:21 GMT November 7, 2007 Reply   
Syd .. 22:07 GMT November 7, 2007
….. Richard Grace, chief currency strategist at Commonwealth Bank expects Fed chief to point to resilience in U.S. economic data, so more USD strength could follow….
_________
LOL Syd… exactly how much more should we anticipate if this is what was shown thus far?

Monaco Oil man 22:16 GMT November 7, 2007 Reply   
Yeah let's go USD...

GBPUSD giving up..Target 2.0750.

GL.

Gen dk 22:12 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

USA Zeus 22:09 GMT November 7, 2007 Reply   
Call it the final frontier of capitulation.
USD all clear to rally strong.

Syd .. 22:07 GMT November 7, 2007 Reply   
Bernanke Could Spur Further USD Recovery - CBA
Next stop for USD is comments by Fed Chairman Ben Bernanke later today. Richard Grace, chief currency strategist at Commonwealth Bank expects Fed chief to point to resilience in U.S. economic data, so more USD strength could follow. Sees EUR/USD heading toward 1.4600. Last at 1.4640. USD found strength thanks to safe-haven demand fueled by Wall Street's weakness. Subsequent rise in risk aversion has hurt high yielders. USD was also due for a correction after 2% slide since Tuesday, Grace said.

Syd .. 22:05 GMT November 7, 2007 Reply   
Canadian Dollar Sees Sharp Reversal: Is this the Bottom?

Even though the US dollar weakened significantly, the Australian, New Zealand and Canadian dollars all ended lower against the greenback. This move represents a sharp intraday reversal for 2 of these pairs which had at one point hit new multi-decade highs intraday. According to Antonio Sousa, the censored SSI indicates that for the first time since September, our most speculative traders did not add to their long USDCAD positions hoping for the bottom. In a trending market, this subset of investors frequently get caught on the wrong side of the trade. With today’s fresh record low, open positions plummeted and longs fell 19 percent since yesterday. When traders finally throw in the towel and give up trying to pick a bottom that is frequently THE actual bottom so, 0.9059 could be the bottom in USDCAD.


Monaco Oil man 22:02 GMT November 7, 2007 Reply   
Blame it on the canadians..

Anyways , shorted 237.05 + GBPUSD 2.1020.
Time to make some pips the other side, looks like.

GT.

GVI john 21:58 GMT November 7, 2007 Reply   
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USA Zeus 21:55 GMT November 7, 2007 Reply   
Liquidated all remaining crude oil, SP 500 and gold contracts with exception of 1/4 at b/e to keep the USD rally afloat.

Cheers!

FW CS 21:51 GMT November 7, 2007 Reply   
NYC NYC3 21:36 GMT November 7, 2007

Says who, are you pscyhic? I do have some decent money in an International Growth fund.

Well that Frenchman in my scenario sold Euro at maybe 0.85 then bought it back at 1.45 today. The Dow in Euro terms is down since 2001. So has he gained if nominal stock retunrs are up say 50% but loses 75% in the forex translation. The obvious answer is no.

jkt rick 21:48 GMT November 7, 2007 Reply   
there are large capital flows into the USA alright, but its mostly in the form of takeover of American companies by small canadian, australian, european companies. devaluing the dollar secretly steals the net worth of every asset in the USA, making it affordable by even small foreighn companies to buy them off. years of hard work building different kinds of enterprises are bought off just like that, and people who work for them are at risk of loosing their jobs.

Syd .. 21:48 GMT November 7, 2007 Reply   
NZ's 3Q Adj Employment +1.5% On Year; Mkt Expected +2.3%

FLORIDA 21:48 GMT November 7, 2007 Reply   
Hello everyone,

Kindly, anyone have a clue on USDJPY, Buy or Sell here?

TIA.

Mtl JP 21:47 GMT November 7, 2007 Reply   
CB 21:36 / that pic is now out of touch with techno-reality: most people get paid by direct deposit into some over-the-internet accessible account hat shows their balance (many do not even know how much tax has been ripped off them: not the same as IF they had to actually cut a check to the govt every month), then most use credit/debit card for purchases over amnd abouve the pre-authorized payments for utilities, car lease ect. It all adds up to most people not being in touch with real cash; just approximating in their heads "it is only 19.99 per month - I can afford that". Many thusly get ensnared in many 19.99 / month. Ingenious of the purveyors of ephemeral . I saw somwhere today that each 200 gals of heating fuel should average about $700 this winter.

NYC NYC3 21:38 GMT November 7, 2007 Reply   
FW maybe you have not seen CAPITAL ACCOUNT DATA.
flows to the US are very large abd not backing off.
Some frenchman can sell a uS stk and bring home the dough in 1.50 euros, but someone else bot it from him and sold him 150 euro.

jkt rick 21:36 GMT November 7, 2007 Reply   
who said the dollar has not helped US exports....it has exported record number of steak to europe..but will exporting meat help in the deficits?
when i hear a weaker dollar helps exports, i start to wonder what kind of exports does it help in? cars? GM ford chrysler cant compete with Toyota and Honda thanks to yen being undervalued by 30%. i read last week that tourists visiting the usa are at lows....europeans dont even visit the usa because of an unfriendly atmoshphere.

Halifax CB 21:36 GMT November 7, 2007 Reply   
PAR 19:31 GMT November 7, 2007
The Fed, OTOH, by printing more $ may have found a way to help folks faced with unaffordable heating oil costs a la this photo

NYC NYC3 21:36 GMT November 7, 2007 Reply   
FW it may be different for no ninvestment owners like you,
long term USD investors welcome $ weakness, the objective is acquire.

dc CB 21:36 GMT November 7, 2007 Reply   
[BRIEFING.COM] It was one of those nerve-wracking days on Wall Street where just about everything got hit - and hit hard. The biggest blow was suffered by the financial sector, which plummeted 5.1% amid a batch of headlines that stoked concerns about the fallout from the housing market's severe downturn.

Washington Mutual (WM 20.04, -4.19) was at the epicenter of the concerns after being accused by the New York Attorney General of pressuring real estate appraisers to inflate the value of their appraisals. Both Fannie Mae (FNM 49.79, -5.60) and Freddie Mac (FRE 45.13, -4.26) were subpoenaed in this matter as the Attorney General is seeking information on the mortgages they bought from Washington Mutual and other banks.

The word "collusion" was used by the New York Attorney General, which rattled investors who didn't like the implication of widespread fraud.

FW CS 21:19 GMT November 7, 2007 Reply   
jkt rick 21:16 GMT November 7, 2007
Just a guess but willing to wager that more Fed IR cuts and liquidity dumps coming.

FW CS 21:18 GMT November 7, 2007 Reply   
Geneva 21:03 GMT November 7, 2007
I suppose nobody cares about the value of their $ they get back as long as they get the $ back.
If a foreigner makes +50% in a stock since 2001 but when translating back in the Euro from 2001 he is down -75% from forex translation or -25% in real terms.

jkt rick 21:16 GMT November 7, 2007 Reply   
Fed cut rates 0.75 in 2 months,
just pumped another 39 billion dollars a few days ago,
devalued the dollar by more than 20% in such a short time,

and voila stocks still cant rally.
dow jones is heading to 12000 just so fast that bernanke will loose all his hair.

Syd .. 21:11 GMT November 7, 2007 Reply   
AUD/USD retreats sharply after surging overnight to test fresh 23-year high of 0.9400; pair last 0.9292. John Kyriakopoulos, currency strategist at NAB, says fall likely linked to profit-taking after AUD followed EUR sharply higher late Wednesday, weakness in stock markets overnight likely fueling additional selling.

Napoli DC 21:10 GMT November 7, 2007 Reply   
bullish pattern in $ index
think we'll see a nice correction in coming days

Geneva 21:03 GMT November 7, 2007 Reply   
FW CS 21:01 GMT November 7, 2007

but if your hurt your clients they can't buy!!!

FW CS 21:01 GMT November 7, 2007 Reply   
Geneva 20:56 GMT November 7, 2007
Or export more than you import not weakening your home currency.

Real returns fade if you say devalue by 75% to get 20% more exports, The $ returned are nominally worth more but real value declines.

Syd .. 21:01 GMT November 7, 2007 Reply   
DJI DOW JONES INDUSTRIAL AVERAGE IN 13,289.37 4:00pm ET 371.57 (2.72%) down

Geneva 20:56 GMT November 7, 2007 Reply   
FW CS 20:51 GMT November 7, 2007

stop spending thats how you cut the trade deficit, not by damaging world economy!

London NYAM 20:54 GMT November 7, 2007 Reply   
isr jweb 20:45 GMT November 7, 2007
thanks london - i have a problem with cutting...
No problem jweb. and i mean this not patronizingly but honestly it is not "a" problem it is "your" problem and no one else having this problem is going to make it fel anybetter to your account balance. mm's advice is supposed to apply before trades. if you are going to lose know how much in advance(and that may be huge) but don't leave the number to the discretion of the market as thats just going to hurt more then it should.

Springdallah RJK 20:51 GMT November 7, 2007 Reply   
isr jweb 20:45 GMT November 7, 2007
thanks london - i have a problem with cutting


I no longer have a problem with cutting after losing 150 pips and getting margincall
i always place a tight stop and if i am wrong "so be it"
always another trade coming

Syd .. 20:51 GMT November 7, 2007 Reply   
DOW JONES INDUSTRIAL AVERAGE IN 13,363.35 3:49pm ET 297.59 (2.18%) down

FW CS 20:51 GMT November 7, 2007 Reply   
Geneva 20:44 GMT November 7, 2007
The view is a weak $ is supposed to decrease the trade deficit. Well against the Euro since 2001 the $ has dropped approxiamtely 75%. Have our exports climbed that much? We are still running a 58-60 Bill$ per month trade deficit to me that sure does not look like much of an improvment. Well actually a trade deficti is not a problem until the day comes when the foreigners don't want the USD. But right now we get the cars, refrigerators and they get our paper. Not a bad arrangement - until they no longer want the $ then we will see the inflation we should have seen but was postponed becase the foreigners bought the bonds.

Stockholm za 20:50 GMT November 7, 2007 Reply   

isr jweb >>>
That smells as/like a demo position!! ??

ldn 20:49 GMT November 7, 2007 Reply   
Geneva 20:44 GMT are you in the same camp as Zeus & Gecko

Springdallah RJK 20:48 GMT November 7, 2007 Reply   
isr jweb 20:21 GMT November 7, 2007
can anyone help me pls - i have 2 euro positions at 1.47 should i cut?

FWIW
If it goes lower than 1.4620 it may well go to 1.4550
you should have had a tight stop for your long in my opinion

i would suggest cut at 1.4620 if you can stand the pressure
good luck

jkt rick 20:46 GMT November 7, 2007 Reply   
sarkozy, is being nice because the axis of evil administration has only one year left in the white house, otherwise its really hard for anyone to be friendly with the current administration.

isr jweb 20:45 GMT November 7, 2007 Reply   
thanks london - i have a problem with cutting...

madrid mm 20:45 GMT November 7, 2007 Reply   
isr jweb 20:36 GMT November 7, 2007

Only you should know the answer to this quetion as you are the only to know
-time frame you trade, ie day, week, minutes, month
-your balanca ac
-etc

before you entter your trade you should have a STOP LOSS !!!!!!

HAVE a PLAN !!!! and stick to it.
FWIW and AIMHO
8-)

Geneva 20:44 GMT November 7, 2007 Reply   
The US have much more to lose from weak dollar policy then to profit, and I think they about to see it.

Geneva 20:44 GMT November 7, 2007 Reply   
The US have much more to lose from weak dollar policy then to profit, and I think they about to see it.

London NYAM 20:41 GMT November 7, 2007 Reply   
stop at 1.4619 and limit at 1.4659 to collar the pain..since you ask, i presume it is already psychologocaly painful.

Syd .. 20:41 GMT November 7, 2007 Reply   
Jacques Chirac, whose public differences with Bush over Iraq chilled the U.S.-France alliance. Sarkozy has signaled a willingness to work more closely with the U.S. in confronting Iran's nuclear ambitions and other global flashpoints.

"I want to be your friend, your ally, your partner," he told U.S. lawmakers Wednesday.

At Mount Vernon, he said it would be "unacceptable" for Tehran to gain a nuclear weapon.

isr jweb 20:36 GMT November 7, 2007 Reply   
i went long at 1.47

London NYAM 20:32 GMT November 7, 2007 Reply   
isr jweb 20:21//and the cracks appear...
you went long over 1.47!!?
or short eurusd in which case why cut why not lower your stop?

Van jv 20:28 GMT November 7, 2007 Reply   
USD/CAD .93

Van jv 20:26 GMT November 7, 2007 Reply   
WASHINGTON — French President Nicolas Sarkozy Wednesday accused the United States of standing by as the U.S. dollar falls, warning that risks of an “economic war” in global trade were rising

Syd .. 20:22 GMT November 7, 2007 Reply   
'We love America,' Sarkozy tells Congress
http://www.breitbart.com/article.php?id=071107171938.06pkhw1y&show_article=1&lst=1

isr jweb 20:21 GMT November 7, 2007 Reply   
can anyone help me pls - i have 2 euro positions at 1.47 should i cut?

Syd .. 20:19 GMT November 7, 2007 Reply   
Georgia's president announces state of emergency in the capital of former Soviet nation...

US experts say 3,000 centrifuges are in theory enough to produce a nuclear weapon, perhaps as soon as within a year.

Iran says it plans to expand its enrichment program to up to 54,000 centrifuges at Natanz in central Iran - which would amount to the level of industrial-scale uranium enrichment.


/www.jpost.com/servlet/Satellite?cid=1192380756670&pagename=JPost%2FJPArticle%2FShowFull

NYC NYC3 19:32 GMT November 7, 2007 Reply   
Total US assets approach 65Trillion.
Wouldn't a couple trillion be the min?

PAR 19:31 GMT November 7, 2007 Reply   
Fed Poole already hinting at another interest rate cut. If Fed keeps printing money at this speed "Weimar Republic style" hyperinflation is to be expected. At the end Deutsche Marks were replaced by chocolate . Lol.

Syd .. 19:29 GMT November 7, 2007 Reply   
Moody's move to downgrade or put on review for downgrade 28 debt programs held by 16 structured investment vehicles "may have been one of the many triggers" for the equity market's decline, said Kevin H. Giddis, managing director of the retail fixed income desk at Morgan Keegan.

Syd .. 19:26 GMT November 7, 2007 Reply   
French President Nicolas Sarkozy Wednesday bemoaned the weakness of the U.S. dollar and the undervalued Chinese yuan, saying the currency "disarray" could lead to "economic war."

In the report, "Sarkozy: Currency Disarray Could Lead To Economic War - AFP," the relative value of the yuan was incorrectly described.

Syd .. 19:24 GMT November 7, 2007 Reply   
Fed Poole: Fed Decisions Depend On Arrival Of New Information

dc CB 19:18 GMT November 7, 2007 Reply   
NYC NYC3 18:45 GMT November 7, 2007
I would think 100billion would be min.

Bloomberg.com reports:.............. He also stated, "this credit crisis, when all is out, will see $250 billion to $500 billion of losses.”

NYC NYC3 19:08 GMT November 7, 2007 Reply   
why do FED dudes think there isn't any price to pay for their housing bubble/

madrid mm 19:01 GMT November 7, 2007 Reply   
Nov. 7 (Bloomberg) -- Federal Reserve Bank of St. Louis President William Poole said the housing industry's woes may not end soon and policy makers might need to consider ``additional rate cuts'' should the problems spread.

``In current circumstances it could be that the downdraft from the housing industry will spread to other sectors, which might require that recent rate cuts not be reversed or even that additional rate cuts would be in order,'' Poole, a voting member on the Federal Open Market Committee this year, said in the text of a speech today in Milwaukee.

Still, Poole said, ``the Fed needs to be careful to do what is necessary, but not more. Excessive rate reductions would run the risk of increasing inflation in the future and inducing further market volatility.''

London NYAM 18:56 GMT November 7, 2007 Reply   
Okay Monoco but 113.50 may be more realistic in this market. good luck.

Monaco Oil man 18:50 GMT November 7, 2007 Reply   
London NYAM 18:45 GMT November 7, 2007

THX specs + BOJ in tokyo hours.

dc CB 18:50 GMT November 7, 2007 Reply   
From briefing.com Bond Update:

Take Off, Eh : The Canadian dollar's ascent has been nothing short of spectacular. BONY's Mike Woolfolk says "The informal 'speed limit' for an orderly decline of a G7 currency appears to be 20% a year. Using last year's closing level of 1.1659, USD/CAD reached its 20% 'speed limit' at 0.9330 by the first week of November. The question now turns to whether the looney is becoming misaligned against the US dollar, the currency of its chief trading partner. If so, it will have negative consequences on the US, Canada and global economies. BOC Senior Deputy Governor Paul Jenkins recently remarked that if the Canadian dollar's rise persists, it will pose significant risks to the Canadian economy. In the same interview, Jenkins pointed out that FX intervention is unlikely to have any lasting effects unless followed up with policy action. If crude oil prices don't correct soon, the Bank of Canada may be forced to cut interest rates in order to curb the pace of USD/CAD's decline. A sustained break in crude oil prices above $100/bbl and the resulting move in USD/CAD below the psychological 0.9000 barrier would seem to make this a near certainty."

Lahore FM 18:48 GMT November 7, 2007 Reply   
jweb,slight hint is there.

isr jweb 18:48 GMT November 7, 2007 Reply   
when would we know cad starting correction?

NYC NYC3 18:45 GMT November 7, 2007 Reply   
I would think 100billion would be min. Subprime mess has to be worth more than that. 100 is what about 10% of the last decades's profits?

London NYAM 18:45 GMT November 7, 2007 Reply   
Oil Man why are you bucking the trend on dollar yen?

Maribor 18:44 GMT November 7, 2007 Reply   
Crude down after reached turn level... if close below 96,8, should see <80.

Correction on Au, Ag and crude should show the way to go for EURUSD , cable, AUDUSD and possible USDCAD.

Gen dk 18:43 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

NYC NYC3 18:42 GMT November 7, 2007 Reply   
http://www.ita.doc.gov/td/auto/domestic/staffreports/Jobloss.pdf

isr jweb 18:39 GMT November 7, 2007 Reply   
shorted cable for a few pips at 2.1050 - tp 2.010 it hasnt done a low as others have - i think

madrid mm 18:37 GMT November 7, 2007 Reply   
dc CB 18:32 GMT November 7, 2007

i would like to know what is RBS Level 3 position out of interest... 8-)

Monaco Oil man 18:32 GMT November 7, 2007 Reply   
Long $/Y 112.88 SL 60 TP 114.50 (trail +60)
gl

dc CB 18:32 GMT November 7, 2007 Reply   
Scary stuff:

Bloomberg.com reports that U.S. banks and brokers face as much as $100 bln of writedowns because of Level 3 accounting rules, in addition to the losses caused by the subprime credit slump, according to Royal Bank of Scotland Group. The Financial Accounting Standards Board's rule 157 will make it harder for companies to avoid putting market prices on securities considered hardest to value, known as Level 3 assets, Royal Bank's Chief Credit Strategist Bob Janjuah in London wrote in a note today. The new rule is effective Nov. 15, he said. "This credit crisis, when all is out, will see $250 billion to $500 billion of losses,'' London-based Janjuah said. "The heat is on and it is inevitable that more players will have to revalue at least a decent portion'' of assets they currently value using "mark-to-make believe.'' Morgan Stanley (MS) has the equivalent of 251% of its equity in Level 3 assets, according to Janjuah. Goldman Sachs Group (GS) has 185%, Lehman Brothers (LEH) has 159% and Citigroup (C) has 105%, Janjuah wrote. Merrill Lynch (MER), which wrote down $8.4 bln of subprime mortgage debt and related securities, has Level 3 assets equal to 38% of its equity "and may well come out of all of this in the best health,'' Janjuah said. Under FASB terminology, Level 1 means mark-to-market, where an asset's worth is based on a real price. Level 2 is mark-to- model, an estimate based on observable inputs and used when there aren't any quoted prices available. Level 3 values are based on "unobservable'' inputs reflecting companies' "own assumptions'' about the way assets would be priced.

Monaco Oil man 18:30 GMT November 7, 2007 Reply   
112.75 is very important...If it doesn't break, then all the pairs are going to run upside again..170 EURJPY etc..If it does break then we could see a massive move as JPY has actually not firmed in the last few months and has lots of pressure , and fundamentally should definitely be stronger than current.
gl


isr jweb 18:29 GMT November 7, 2007 Reply   
hi hi fm. good to see you - anychance of seeing 228 gbp/jpy again?

Gen dk 18:28 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

isr jweb 18:28 GMT November 7, 2007 Reply   
thanks. could this yen crash be a beginning of an end of the euro/gold/cable rally?

Monaco Oil man 18:19 GMT November 7, 2007 Reply   
Yes , no bounce, and more than 4 hours , with downside pressure , GBPJPY will break down if $/Y breaks now.
GBP/NZD could see 2.7170 this session , just with NZDJPY tanking..

Lahore FM 18:17 GMT November 7, 2007 Reply   
failure on usdjpy's part to make headway above 114.80 yesterday has set off an unwind for a starter.let us see how it proceeds.

isr jweb 18:11 GMT November 7, 2007 Reply   
to drop gbp/jpy from morning?

FW CS 18:03 GMT November 7, 2007 Reply   
First time in awhile we had $ selling across the board and less Yen cross action

London NYAM 18:03 GMT November 7, 2007 Reply   
jkt rick 17:54//yeap and recall october 1998? should be on that scale, partly becuase no one really expects it to be that bad.

Monaco Oil man 18:01 GMT November 7, 2007 Reply   
Well the JPY guys are starting to look pretty bad if they aren't saved in this Japanese session ..
Should be a very interesting session , as if $/Y breaks today's low , then we could have some x/jpy downside from here.
GL!

madrid mm 17:58 GMT November 7, 2007 Reply   
nj jf 17:34 GMT November 7, 2007
only 100 times ?

Mine is limitless LOL

8-)

« La critique est aisée, mais l'art est difficile » Philippe Néricault in 1732 , " it is easy to criticise but harder to do"...more or less

jkt rick 17:54 GMT November 7, 2007 Reply   
usd/yen- 113.10 be careful of yen below 100 handle will start a massive unwinding of carry trades in gold oil euro and stocks.

Monaco Oil man 17:39 GMT November 7, 2007 Reply   
nj jf 17:34 GMT November 7, 2007

Always a battle tomorrow!
GL

USA Zeus 17:35 GMT November 7, 2007 Reply   
denver jake 17:17 GMT November 7, 2007

Honestly, there is no need. Many make calls and views here. Posting account balances and gearing numbers is not helpful esp when this is not a trading advisory and most here are trading small (<$1 million) account sizes.

Otherwise, would have to charge Stevie Cohen sized fees ;-)
We are just here to freely share thoughts ideas, opinions, trades etc. Anything else is at a different level.

We have over 100 positions spread out so things are different and the details not helpful. Will just say that last mo was up > 600bps and YTD net of fees is just under 20%. Not bad for a fundie.

So everything is relative. No wonder Mahmood struggles with his $250 credit card funded mini. LOL

nj jf 17:34 GMT November 7, 2007 Reply   
im a big believer in trading discipline and timing. sometimes its detrimental to me in cutting positions too quickly but it does enable me to come back everyday. hopefully after everyone has seen the ups and the downs of trading they devise a scheme that fits their risk profile.

if anyone thinks my posts are critical of any method I assure you I am 100 times more critical of myself and any mistakes I make.

PAR 17:34 GMT November 7, 2007 Reply   
Us stocks getting ready for the famous afternoon rally . Weak opening = strong close .

NYC NYC3 17:21 GMT November 7, 2007 Reply   
key for some is to not actually trade.
mkt will mash the euro shorts, then reverse,
that is what mkts do.

denver jake 17:17 GMT November 7, 2007 Reply   
Zeus my man,
Why don't you post some avg entries with leverage? Honestly, that's the only way you should get "respect" for this massive contra call you are trumpeting

USA Zeus 17:13 GMT November 7, 2007 Reply   
Anyone can recount the prior movements, which is what most do here. Unfortunately, you (except Mahmood) can't trade going forward by recounting the past.

Besides it is much more enjoyable to watch those made for TV bombshells recall the news- esp after they return from seeing Dr. Lipschitz for a few "structural enhancements".

Looks like the good timeZ are coming!

USA BAY 17:13 GMT November 7, 2007 Reply   
Euro: All Clear to 1.50?
http://www.dailyfx.com/story/topheadline/Euro__All_Clear_to_1_50__1194446572047.html

St. Annaland Bob 17:00 GMT November 7, 2007 Reply   
Monaco Oil man 16:58 GMT November 7, 2007

remember the 2.9000 with GBP/NZD?

Monaco Oil man 16:58 GMT November 7, 2007 Reply   
At the end of the day, a good trader knows when his emotions(or fantasies in some cases) are taking the best of him..And bags his losses.

If you keep adding to a position then you either started with low leverage , where if you went right , you made nothing..And if you are adding is a very dangerous situation...Well if you average and it turns out your way after 100 pips fine..
I actually think averaging in the trend direction is fine if risk is defined..
But if you start averaging and it starts trending for 1000 pips on GBPUSD (and others) without any breather , like it has been..Well you are facing margin calls.

GL.

USA Zeus 16:57 GMT November 7, 2007 Reply   
NYC ET 16:45 GMT November 7, 2007

Yes it has been overshooting the top by a bit here. About 2 figs on EUR/USD and 5 on GBP/USD. Mentioned that this was all likely so some contra and scalping needed to maintain on the scale-in. In the big picture 15-20 figs the other way makes this more attractive.

Of course no one ever know s for sure in advance so there are many birds chirping in the trees now afterwards and we are sure that they all feasted on the easy money. After all as Mahmood points out anyone following him would be a student of 4X made E-Z as he likes to call the plays using instant replay the day after the game was decided.

St. Annaland Bob 16:48 GMT November 7, 2007 Reply   
John Hardy of SaXo put it right:

""...USDCAD - a monthly chart shows how USDCAD has moved into a parabolic type of movement lower. Movement like this is unsustainable in the medium term. Similar markets in the past were gold in early 2006 (when the gold spike sharply reversed after spiking higher and took 18 months to regain its old high) and the Nasdaq composite in late 1999. The trouble is that bottom/top picking doesnt work when trading spot unless you have very very deep pockets and nerves of steel as the market can keep moving sharply in the direction of the trend before even more sharply reversing much higher as the trend finally begins to consolidate...""

applies to any currency gained against the USD from my point of view.

NYC ET 16:45 GMT November 7, 2007 Reply   
Zeus, you have been saying that for 500 pips. One of these days you will be right but at what real or opportunity cost? Assuming you are adept at scalping as your portray and your pockets are as deep as you say, the latter is a consideration.

St. Annaland Bob 16:43 GMT November 7, 2007 Reply   
NYC NYC3 16:40 GMT November 7, 2007

why to fight the trend? ... enjoy the trend and make ready with healthy position for the day the trend will change ... scalp the day, build the forward outright ... happy and safe trades!

USA Zeus 16:42 GMT November 7, 2007 Reply   
LND Mahmood 15:41 GMT November 7, 2007

Don't be fooled by the fool. Your foolishness and nasty Mood will eat crow on this one. LOL!


In a more positive Mood- USD to rally big time from here.
Happy Day!

NYC NYC3 16:40 GMT November 7, 2007 Reply   
all trend fighters die and become vendors of advice etc.

St. Annaland Bob 16:40 GMT November 7, 2007 Reply   
good day! ... it may go 15000 and even bit further, may but not for sure ... USD may go down bit further, but just a bit further ... I am not too pro-US or even too pro-USD ... just taking a call that gravity will take it's toll ... higher the object goes, so harder gravity will let it feel the fall ... the timing of this move surprised me but not the move itself ... no correction the way up will ensure no correction on the way down ... yeah, only me ;)

denver jake 16:40 GMT November 7, 2007 Reply   
LND Mahmood 15:41 GMT November 7, 2007

It's foolish to get involved in a discussion about how much one wins or loses with a stranger in a forum coz no one really knows. anyone who trades has known the feeling of being correct with analysis and losing money and vice versa.

But, it's like if someone screams in the middle of the street ,"I've got a third arm!". You just can't help but want to take a quick look. lol

Gen dk 15:55 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Monaco Oil man 15:42 GMT November 7, 2007 Reply   
Out of $:CAD at 80..Not even time to get a roll..Nice come back fro m the cad.

GT.

LND Mahmood 15:41 GMT November 7, 2007 Reply   
Fools would take Zeus' advice. Not only has he lost money on his long usd positions but he has forgone the potential profit from shorting usd. If he hasn't lost anything - he can always credit his demo account with another $10 million. Don't believe a word he says.

LOL!

madrid mm 15:37 GMT November 7, 2007 Reply   
Canada isn t part of the USA ? Or is it the other round at the monent ? 8-)

Look at that Loonie ... A mind on its own

Toronto tn 15:29 GMT November 7, 2007 Reply   
Blackberry is Canadian. Obviously we could do the translation from French much better.

madrid mm 15:25 GMT November 7, 2007 Reply   
PAR 15:19 GMT November 7, 2007
LOL Maybe the Chinee oficial called him yesterday

London DG 15:18 GMT November 7, 2007
Don t trust anyone in this world 8-)

Makassar Alimin 15:19 GMT November 7, 2007 Reply   
took profit half of usdjpy long at 113.30, stop at BE for the rest

PAR 15:19 GMT November 7, 2007 Reply   
Lets hope for him he didnt do his shopping yesterday .

London DG 15:18 GMT November 7, 2007 Reply   
No he can't use a blackberry because the French secret service said that it was American made so the Americans could potentially hack into it ! No joke!!

madrid mm 15:11 GMT November 7, 2007 Reply   
"The French President Nicolas Sarkozy will address the US Congress today..."

PAR -
Will he go shopping before or after ? Or maybe he is lookinghis Blackbery to see the EURO/USD$ rate to decide the best time
8-)

Monaco Oil man 15:09 GMT November 7, 2007 Reply   
Well TP at 239.30 yet again ..Stops to entry , and nap time.

GT.

denver jake 15:03 GMT November 7, 2007 Reply   
Hey Zeus,
You know you let people into your businesss when you trumpet your positions right? Maybe you should post what your avg entry is for your long trumpeted short euro & pound / USD possies? I know I'd be curious to see your leverage as well. A dollar reversal does look emminent BTW. Good luck buddy.

jkt-aye 14:53 GMT November 7, 2007 Reply   
after some times away from fx jungle, i still always glad to hear something from Shanghai BC, Qindex, Gecko and other "gurus" here ... :) good trades

madrid mm 14:53 GMT November 7, 2007 Reply   
maybe , just maybe another opportunity for carry"on" traders to load on some more cheap YEN 8-)

van Gecko 14:37 GMT November 7, 2007 Reply   
classic blow-off top move for the Conti cousins.. may be an early Thanksgiving for some 1.50 top feeders this year..

London DG 14:33 GMT November 7, 2007 Reply   
Thx ! Zeus

Gen dk 14:31 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

munich st 14:28 GMT November 7, 2007 Reply   
Thanks bc, your comments always much appreciated.

Monaco Oil man 14:27 GMT November 7, 2007 Reply   
Stops to entry on $.CAD..Might keep it for awhile , it's a carry :=)

shanghai bc 14:25 GMT November 7, 2007 Reply   
munich st 13:58 GMT November 7, 2007

I have been targeting Eur/usd 1.45-1.50 region since September and we are already here now..A bit fast for me in fact..Expecting a medium-term correction to start around 1.50 at some point..Good trades..

USA Zeus 14:25 GMT November 7, 2007 Reply   
London DG 14:09 GMT November 7, 2007
Sorry for the confusion. Here is what I mean-

LT = Long Term
MT = Medium Term
ST = Short Term.

Positively,
-Z-

Geneva 14:24 GMT November 7, 2007 Reply   
I think china, can sell many other ccys and buy cheap dollars!

madrid mm 14:23 GMT November 7, 2007 Reply   
when we see this , doe that mean the workers work more for the same amount of money ?
"US Q3 labor cost -0.2% vs exp +1.0%, productivity +4.9% vs exp +3.0%"
8-)

USA Zeus 14:23 GMT November 7, 2007 Reply   
NYC ET 14:08 GMT November 7, 2007

Shorting at lower levels does not mean that it indeed did not go lower after entry (as it did for several dollars/barrel.)

It is all in the archives. Took nice gains on 3/4 and b/e on remaining from earlier (multiple times). This is the problem with posting positions. Should not have to post exits then re-post explaining to go back and look for the exits. Try the Futures forum as well.

Ok- no more posting positions. Waste of time to post, re-post, remind, reference, explain how to use archives etc.

Nothing can stop the Big E-Z and cable.

Cheerio.

Hong Kong Ahe 14:20 GMT November 7, 2007 Reply   
madrid mm 13:52 GMT LOL

madrid mm 14:14 GMT November 7, 2007 Reply   
why don't we start a rumour in here that someone somewhere was misquoted about today's moves ?
8-) lol

London DG 14:09 GMT November 7, 2007 Reply   
Hi Zeus,

I assume MT = monthly targets? Would you mind telling how you got those projections.

Many Thanks

Stockholm za 14:09 GMT November 7, 2007 Reply   
fwiw .........lol
We have notice that you guys start again with the begging thing,
And un-loyally keep shifting camp,
From zeus-ism to fm-ism to oil-ism.
Why not bring a bottle to the party, so we all can have fun.. ??

Gen dk 14:07 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

saopaulo cg 14:04 GMT November 7, 2007 Reply   
forget about ECB rate hike, market did the job for Trichet. Do not wait any hawkish words for tomorrow

munich st 14:00 GMT November 7, 2007 Reply   
Zeus, if i may ask, what is your present average eurusd short position? GL

USA Zeus 14:00 GMT November 7, 2007 Reply   
MT targets-

EUR/USD 1.40-1.37 GBP/USD 2.00-1.97

Ok- tchau for now.

munich st 13:58 GMT November 7, 2007 Reply   
Hi bc, good to see you. I know you are not into short term but would like to read your comments on eurusd following recent events (last move) and your MT view. TIA

USA Zeus 13:52 GMT November 7, 2007 Reply   
Oil 97.87 covered 97.73 and SP 500 1524.50 covered 1,508.00 to afford add'l new shorts in EUR/USD 1.4712, GBP/USD 2.1055.

Ok- Huge position geared for what could be the USD rally of a lifetime. Looks like USD is about to rally right here today!

Happy Day!

madrid mm 13:52 GMT November 7, 2007 Reply   
shanghai bc 13:42 GMT November 7, 2007

ooops .......

8-)

nyc fxdh 13:49 GMT November 7, 2007 Reply   
OIL MAN nice call on stg/yen thanks

shanghai bc 13:42 GMT November 7, 2007 Reply   
madrid mm 13:40 GMT November 7, 2007

EU is the largest trading partner of China :)

madrid mm 13:40 GMT November 7, 2007 Reply   
I would be "nice" for another Chinese official to come on the wire news and say

-" What we meant to say this mornig was, we want to increase our US$ holding as the USA is our biggest trade partner."

Dream on, i know 8-)

Monaco Oil man 13:31 GMT November 7, 2007 Reply   
GBPJPY is a good puppy..Go go .

isr jweb 13:29 GMT November 7, 2007 Reply   
monaco. tears in my eyes. thanks - no words. and jay

Bon Air VA Dennis 13:25 GMT November 7, 2007 Reply   
Toronto tn 13:20 GMT

no beef with that in fact my CPP direct deposit makes me smile, really really big - LoL

Makassar Alimin 13:22 GMT November 7, 2007 Reply   
going long usdjpy 112.92, stop 112.52

Monaco Oil man 13:21 GMT November 7, 2007 Reply   
isr jweb 13:10 GMT November 7, 2007

Well it prolly did the day high at 1.4730 area just now..

Toronto tn 13:20 GMT November 7, 2007 Reply   
dc fxq 12:41 GMT November 7, 2007

No, these days I eat considerably better than that, as beluga costs about as much up here as a couple Mars bars used to cost.

madrid mm 13:14 GMT November 7, 2007 Reply   
dc fxq 13:11 GMT November 7, 2007
both
8-)

dc fxq 13:11 GMT November 7, 2007 Reply   
"-Call Merryl ?"

mm, which one Streep or Linch (sic)? ;-0

isr jweb 13:10 GMT November 7, 2007 Reply   
oilman is the euro done for the day aswell??

Gen dk 13:07 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Monaco Oil man 13:05 GMT November 7, 2007 Reply   
isr jweb 12:53 GMT November 7, 2007

Go with EURJPY is safer , less spiky , but as for me , i already have that one...
GBPJPY is great to try to do 100-250 daily swings , which is what i m trying to do here..Might work , $/Y looks to be near daily bottom.
GL.

madrid mm 13:02 GMT November 7, 2007 Reply   
Nov. 7 (Bloomberg) -- General Motors Corp., the world's biggest automaker, reported a $39 billion third-quarter loss, its largest ever, after writing down $39 billion of future tax benefits.

I can imagine the board meeting -
"- Gentlemen and ladies, we just lost $39 billion
- Oh Gawd ... What we do?
-Call Citi ?
-Call Merryl ?
- Call anybody ?
-why don t we just let the dust settle for a few months and then come back to it ??!?!?
-OK
-OK
-OK
-Next on the agenda.... "

8-)

toronto Dr Unken Katt 13:02 GMT November 7, 2007 Reply   
initial tp for gbp/yen 23630

isr jweb 12:53 GMT November 7, 2007 Reply   
oilman. the usd/jpy consolidation is over? why gbp/jpy long?

Gen dk 12:48 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Monaco Oil man 12:48 GMT November 7, 2007 Reply   
Got some GBPJPY longs down 237.30 SL 236.70 ..Looking for 239.50 again..
gl

dc fxq 12:41 GMT November 7, 2007 Reply   
Toronto tn 12:34 GMT

Speaking of feeding off others, Pot calling Skillet ebon

nyc fxdh 12:39 GMT November 7, 2007 Reply   
great call on $ oil man

Toronto tn 12:34 GMT November 7, 2007 Reply   
Maribor 12:09 GMT November 7, 2007

Yep, just another windbag parasite feeding of others' leftovers.

Gen dk 12:17 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

saopaulo cg 12:12 GMT November 7, 2007 Reply   
RF, "chapeau" and acongratulations about your bearish view on usdjpy. What do you think from now on ? TIA

Maribor 12:09 GMT November 7, 2007 Reply   
Roja Rosa 12:03 GMT November 7, 2007

Your posts may be more useful if you post some trading ideas. As far as I have seen, Oil man's comments make money.

It is your turn.

Mumbai NS 12:07 GMT November 7, 2007 Reply   
Dr Q tks a lot u are always there when in doubt and so humble cheers to that and ofcourse to ur gud work gl gt

Lepanto 12:05 GMT November 7, 2007 Reply   
Tks very much in advance Dr Qindex

Melbourne Qindex 12:04 GMT November 7, 2007 Reply   
Mumbai NS 11:59 GMT - The normal trading range for USDX in November is 74.88 - 79.17. Therefore it is reasonable to believe that the upward movement of EUR/USD is limited. However there should be enough room for USD/JPY to move lower. We have to wait and see in the next two trading days.

Roja Rosa 12:03 GMT November 7, 2007 Reply   
Monaco Oil man 11:57 GMT November 7, 2007

Mate idiotic statements now luk like 122 in a flash and 170 and 243 and so on and ofcourse how can i forget a quick flash to roja guy 0 guess it is clear who is the idiot .....i have written a nursery rhyme for u which i shall post when the time comes lol!

Makassar Alimin 12:01 GMT November 7, 2007 Reply   
closed remainder of core gbpusd long at 2.1018 earlier, target met, haven't seen sign of top out yet, but probability is not in favour of aggresive long at this stage

Mumbai NS 11:59 GMT November 7, 2007 Reply   
Dr Q do u see any chance of a usd recovery or this trend continues for huge overextensions tks gl gt

Monaco Oil man 11:57 GMT November 7, 2007 Reply   
Roja Rosa 11:51 GMT November 7, 2007

It's not cause you say the sky is red that it will be ..writting up idiot sentenses won't make them real..Anyways if you are having fun writing this kind of bs..Go ahead.

Melbourne Qindex 11:55 GMT November 7, 2007 Reply   
Lepanto 10:45 GMT - EUR/CHF : You have to wait for tomorrow. It is late in Melbourne time, 11pm. I need to run the analysis tomorrow morning.

Roja Rosa 11:51 GMT November 7, 2007 Reply   
I admire ur guts to speak nonsense with confidence to justify ur point what u forget is that the archives say that to someone u had given a similar logic on stgyen on monthly close just before the unwind and when it snapped from there to 219 u conveniently disappeared from the forum for the entire period of unwind now u r back to woo lost customers and trying ur lvl best to justify.....think i agree now with ib that u are really thick skinned ......those trying to fall prey beware he will make disappearing act soon lol!

Melbourne Qindex 11:47 GMT November 7, 2007 Reply   
USD/CAD : The next consolidating range is 0.8969 - 0.9034.

isr jweb 11:40 GMT November 7, 2007 Reply   
ive got this weird feeling that this is what george w just wanted. since he is highly connected to the oil companies and he is made it his buisnness since hes been in the white house to make the price of oil higher - and since he is departing for good this is his xmas present for all his buddies.

A fat lot does he care about consumers

Ramat Afal SBS 11:39 GMT November 7, 2007 Reply   
Oilman, thanks . have seen you calling AUD for higher levels,
didn't have the guts, but as usal you tern out to be right.

Monaco Oil man 11:39 GMT November 7, 2007 Reply   
Well $/Y went down 80 pips for the month , meanwhile my gbpusd went up 700..Don't see where carry are losing..Same applies for NZD..Another way to look at it , is I went long NZDJPY 87.40..We're still well above that.

London 11:31 GMT November 7, 2007 Reply   
PAR 11:27 GMT caused oil to hit $100

PAR 11:27 GMT November 7, 2007 Reply   
By lowering Us interest rates aggressively Bernanke has been fuelling commodity price inflation which more than offsets the benefits of lower interest rates .

Syd .. 11:26 GMT November 7, 2007 Reply   
U.S. index futures are pointing to a much lower open after yet more weakness in the U.S. dollar weighed on U.S. markets," said Claire Collingwood, a trader at censored Markets.
Ahead of the market open we're forecasting the DJIA to open down 157 at 13,503, the Nasdaq to open down 25 at 2,198, and the SPX to open down 19.3 at 1,500.9

Rivonia PipPirate 11:22 GMT November 7, 2007 Reply   
Roja Rosa ..1 Oilman...1 ....more exciting than the soccer cup final. LOL

Monaco Oil man 11:16 GMT November 7, 2007 Reply   
Ramat Afal SBS 10:50 GMT November 7, 2007

Well I've been screaming buy aud for awhile , it's now close to 94...However this is a break out (9230), so 9230--9290 should be good area to go long if not long already.

Syd .. 11:16 GMT November 7, 2007 Reply   

German VDMA Engineering Grp: Euro Pain Threshold Long Passed
German VDMA:Strong EUR Also Affecting Trade Within Euro-Zone

U.S. Federal Reserve members are making speeches from 1800 GMT.

Hong Kong YH 11:11 GMT November 7, 2007 Reply   
HK [email protected] 10:17 GMT November 7, 2007

hope your word is true

new brighton gvm 11:10 GMT November 7, 2007 Reply   
Springdallah RJK 10:40 glad I was of use ... GL/GT

Ramat Afal SBS 10:50 GMT November 7, 2007 Reply   
OILMAN, do you think AUD is a buy now at current levels
or better wait for a break of 0.94
if buying now what level should be good for a stop ?
many thanks.

Melbourne Qindex 10:46 GMT November 7, 2007 Reply   
USD/CAD : The weekly cycle charts indicate that the market is consolidating between 0.9037 - 0.9126.

MLT PA 10:45 GMT November 7, 2007 Reply   
And so the November rally is now with us. Forget talk of CB intervention - just rumours plus some funds thinking the USD has found a bottom. Corrections will now be swift and should provide opportunities to sell USD. 1.4430 and 2.0680 on eur/usd and gbp/usd should now hold for this rally to remain intact. Below those levels and trade reverts back to the 3 week range.

MLT PA 16:27 GMT October 30, 2007
The Asian CB sales seen a week ago on eur/usd have now been absored. We could see further sales, but dips remain shallow, like most other counter-trend sales have been - especially considering the US Dollar has been in steady decline since mid 2001. Closes above 1.4485 and 2.0630 on eur/usd and gbp/usd respectively will hearld a November rally against the buck.

Lepanto 10:45 GMT November 7, 2007 Reply   
Dear Dr Qindex, i hv a loan in swissy so much appreciate to le me have your monthly projections/chart on EURCHF. many tks

AZUSA 4x-ed 10:43 GMT November 7, 2007 Reply   
fwiw and most certainly not critiquing… DAX is a rather precarious index and often not the best gauge for equities/currencies correlation. DJ Eurostoxx 50 trading at 5+ times the volume of the DAX, might be a better alternative and which often times tends to mimic the S&P quite nicely during the US session

Springdallah RJK 10:40 GMT November 7, 2007 Reply   
new brighton gvm 09:16 GMT November 7, 2007
Springdallah RJK 09:04 - if you were trading FX futures you could request a 'time and sales' report

I took your lead and asked for a review of the trade
I have just had the whole trade cancelled and the 73 pips refunded
Cant argue with that

thankyou for your suggestion.
not a lot of money but certainly nice to get a fair deal

ron :)

Monaco Oil man 10:38 GMT November 7, 2007 Reply   
Paris ib 10:35 GMT November 7, 2007

Merci ! Hope you are well.

melbourne DC 10:35 GMT November 7, 2007 Reply   
DJ Bangladesh Mulls Revaluing Its Currency Against US Dlr-Xinhua
07 nov 2007 21:33 ausedt
SINGAPORE (Dow Jones)--Bangladesh's government is considering revaluing the taka against the U.S. dollar to reduce import costs in a bid to bring down soaring prices of essentials, which have gone beyond the reach of the common people, China's state-run Xinhua news agency reported Wednesday, citing local media.

Roja Rosa 10:33 GMT November 7, 2007 Reply   
Oilman y'day u made a comment roja guy 0 carry traders 1 .....trying to settle some one to one score ofcourse for commercial reasons on a 40-50pip upmove now there has been a 1 biggy downmove but i am having the gentleman approach of not settling scores with u ....see u at lower usdjpy no carry trade a firm view!

Como Perrie 10:22 GMT November 7, 2007 Reply   
an bought some too usdjpy ...

off for lunch

bi

Como Perrie 10:21 GMT November 7, 2007 Reply   
might be early but off usdjpy short for the time being...

might surprise back some 50 pips very easily this stuff

Como Perrie 10:19 GMT November 7, 2007 Reply   
am going to reduce usdjpy shorts...xxx/jpy flat.. reason some intervention point might be very close or already reached.

HK [email protected] 10:17 GMT November 7, 2007 Reply   
Hong Kong YH 10:05 GMT November 7, 2007

Just one more word B4 I go out.

This time the markets are facing a worse situation than August.
The tremendous damage of the losses begin to unfold.
Running to the exits is a bigger possibility by this time.

Jerusalem ML 10:17 GMT November 7, 2007 Reply   
time to load up on dollars
EURO back to 1.46 tonite

intervention talk growing...
g/l
M

FL 10:15 GMT November 7, 2007 Reply   
Thanks, Dr. Q.

Como Perrie 10:14 GMT November 7, 2007 Reply   
tooks off some xx/jpy shorts and usdjpy some too....cached eurusd from previous

Toronto tn 10:13 GMT November 7, 2007 Reply   
Fwiw, clear mid-term reversal patterns on eur/aud and aud/jpy.

Melbourne Qindex 10:11 GMT November 7, 2007 Reply   
FL 10:04 GMT - GBP/USD : The market is positive when it is above the barrier at 2.1014 - 2.1019. It is now heading towards the weekly cycle pivot center at 2.1101 - 2.1114. The weekly cycle upside targeting points are 2.1360 and 2.1398.

Lahore FM 10:08 GMT November 7, 2007 Reply   
BRUNEI yu yu 09:51 GMT November 7, 2007
thanx yu yu for your kind words!

HK [email protected] 10:08 GMT November 7, 2007 Reply   
Hong Kong YH 10:05 GMT November 7, 2007

You are right up to now about the gradually, so we have to see if gradually it will remain. If so I shall pull out my old calculations for yen going to around 110.

Monaco Oil man 10:07 GMT November 7, 2007 Reply   
Well whatever...Everyone is doom and gloom..Meanwhile a good trend is happening..Whatever the reasons , bucking a trend is bucking a trend.

Hong Kong YH 10:05 GMT November 7, 2007 Reply   
HK [email protected] 09:58 GMT November 7, 2007

are you a fans of WKY? A censored hit the fans...i thnk this time is different than Aug's one, because JPY is just up gradually, not suddenly, so won't cause carry trade unwind. In addition, this time USD is one way down. Bush's Govt just left USD depreciate to help the trade deflicit

FL 10:04 GMT November 7, 2007 Reply   
DR. Q,
Kindly, your insite on GBPUSD,

Thanks

Como Perrie 10:04 GMT November 7, 2007 Reply   
fwiw sold eurusd

Melbourne Qindex 10:03 GMT November 7, 2007 Reply   
Melbourne Qindex 06:52 GMT November 7, 2007
USD/CHF : The market may head for 1.1190 - 1.1198 in a few trading days.

HK JR 10:03 GMT November 7, 2007 Reply   
this cable is flying . no logical reason except the usual $ weakness .

HK [email protected] 10:03 GMT November 7, 2007 Reply   
HK [email protected] 08:30 GMT November 7, 2007
------------------------------------------------------
Next Yen target if T.A will follow is 113.25, but one may bring into
////////////////////////////////////////////////////////////////////

Ok friends yen began to behave itself according the rules of T.A.
And heading that moment to ~112.
----------------------------------------------------------
GL/GT to all.

Melbourne Qindex 10:02 GMT November 7, 2007 Reply   
Melbourne Qindex 02:20 GMT November 6, 2007
USD/CAD : ............The market is pulling towards the range at 0.9059 - 0.9124.

Melbourne Qindex 10:01 GMT November 7, 2007 Reply   
Melbourne Qindex 05:06 GMT November 7, 2007
USD/JPY : The downside target is 112.84.

Hong Kong YH 10:00 GMT November 7, 2007 Reply   
GBP seem want to be another CAD, up 200pips today

Como Perrie 09:58 GMT November 7, 2007 Reply   
UsdYen is still sell every upper correction. 112.90 key support today has to be seen at some point bit later.

Mumbai NS 09:58 GMT November 7, 2007 Reply   
Navin it's there in archives and cbl yes it is a shocker and continues still there is no underlying thing other than carry which is supporting it watch out for tom important event ....110.25 is what i have written gud luck gl gt

HK [email protected] 09:58 GMT November 7, 2007 Reply   
Monaco Oil man 09:42 GMT November 7, 2007

That is correct ,unless the yen will revalue suddenly, then it will be abandon ship on all pairs and just imagine what will happen.

BOJ always avoided answering the amount of yen loaned in the market. They just didnt want to scare the markets.

But that amount of loaned yen involved in all markets may even exceed 1000billions USD equivalent.
So may be it's time the Sh it has hit the fan.

EU theEUROqueen 09:54 GMT November 7, 2007 Reply   
We still buying every dips ..for me the euro is still buy so take care Bob..

happy trade

Gen dk 09:54 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

mumbai Navin 09:52 GMT November 7, 2007 Reply   

NS - what is your target on yen - if you mind to share

How is the market ignoring Mervyn King's comments on the credit markets - this cable move is just not explained by fundamentals..

BRUNEI yu yu 09:51 GMT November 7, 2007 Reply   
I would like to say thanks a lot to LAHORE FM due to his precise and correct prediction (just like a sniper I guess) and to all new traders (like me) we are very lucky we find people like him and others in this forum who give a lot of brilliant ideas and signals

Love this forum : )

Mumbai NS 09:47 GMT November 7, 2007 Reply   
The only thing which is doing a slow but certain move is usdjpy ....too early to say but nicely moving towards target gl gt

Haifa ac 09:45 GMT November 7, 2007 Reply   
When the stock market drops 1500 points-- all those who spit on the dollar will have a rude awakening and the run to it as the TRUE flight to quality!

Monaco Oil man 09:42 GMT November 7, 2007 Reply   
Sure , but no one is going to sell their AUD to buy yen...They'll sell their USD..AUD is still in top shape for further gains vs. the USD.

HK [email protected] 09:37 GMT November 7, 2007 Reply   
Monaco Oil man 09:27 GMT November 7, 2007

How about the Yen isn't it still undervalued?

It is important not to diregard the obvious.

Lahore FM 09:32 GMT November 7, 2007 Reply   
AZUSA 4x-ed 09:28 GMT November 7, 2007
very right!it is still a battle of the titans between jpy and other currencies.will likely be even more interesting later on.

AZUSA 4x-ed 09:28 GMT November 7, 2007 Reply   
Lahore FM 09:23 GMT November 7, 2007
I'll say... brings back memories of last year at about this same time ;-)

Monaco Oil man 09:27 GMT November 7, 2007 Reply   
Aud is still under valued compared to some , and should be at parity by now.

Lahore FM 09:23 GMT November 7, 2007 Reply   
what an interesting day for fx!

new brighton gvm 09:16 GMT November 7, 2007 Reply   
Springdallah RJK 09:04 - if you were trading FX futures you could request a 'time and sales' report to ascertain that your stop was executed in a timely fashion - not sure if you can do that with your fx provider - they should time stamp their execution which could be helpful to you

PAR 09:12 GMT November 7, 2007 Reply   
ECB only watching credit markets for intervention to help German bancrupt banks . ECB not watching forex markets . Thats up to the european ministers of finance .

Monaco Oil man 09:09 GMT November 7, 2007 Reply   
As fair as a bucket shop can be.

mumbai Navin 09:09 GMT November 7, 2007 Reply   

Does anyone have doubts cable will not test 2.10 today?

Springdallah RJK 09:04 GMT November 7, 2007 Reply   
Hi Peoples

I have a question on slippage for some of you to contemplate

I have a slippage of 73 pips


I was short eur/usd at 1.4565 today

with a 10 pip sl
this would give me a 13 pip loss if it were to go against me, or so I thought.
My Idea was to catch a few pips on the pullback and to close and go long .
Well I had to go to Melbourne today and I get home to a 73 loss .
I thought it would be longer before the big move so I left the trade on while I was away
in hind sight not such a good idea.

My question is this acceptable slippage???
seems a bit much to me ,does anyone have a recommendation ,as to my actions in future , so i don't lose this much again, or is it just part of the deal.
is my trading company being fair?
any replies most welcome
Thanks in advance

Ron

Gen dk 08:45 GMT November 7, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

HK [email protected] 08:30 GMT November 7, 2007 Reply   
K.I.S The markets are not only intoxicated with bad lost debts, but mainly and even more in yen loans(add all normal carry trades) which have to be paid back, nothing will help.
The only instrument which is not Yen intoxicated is the yen itself LOL!!!!

Next Yen target if T.A will follow is 113.25, but one may bring into account that the cord may suddenly snap this time, and yen may make a bigger than expected move.

GENEVA DS 08:28 GMT November 7, 2007 Reply   
West Java Prof 08:10 GMT November 7, 2007
Hello Forum...
May you tell me who are the very good predictors here?
Thanks and good luck to you all!

Hi Sir, here my answer... we are kind of ALL good predictors... the only thing, we all do never know in advance is, if our prediction this time is gonna be good or bad... but you will kind of find your way through this market in reading a lot and making your own opinion.... welcome on board... nice to hear from you... gl

GENEVA DS 08:28 GMT November 7, 2007 Reply   
West Java Prof 08:10 GMT November 7, 2007
Hello Forum...
May you tell me who are the very good predictors here?
Thanks and good luck to you all!

Hi Sir, here my answer... we are kind of ALL good predictors... the only thing, we all do never know in advance is, if our prediction this time is gonna be good or bad... but you will kind of find your way through this market in reading a lot and making your own opinion.... welcome on board... nice to hear from you... gl

Como Perrie 08:25 GMT November 7, 2007 Reply   
West Java Prof 08:10 GMT November 7, 2007

The market at current is said to be unpredictable. So far It happens some predictions come true, while others fails terribly.

We have seen some screwing temptations at current this early London, but seemingly uneffective to the larger picture, with lotsa increasing volumes, particularly yen buying accross the board.

Syd .. 08:21 GMT November 7, 2007 Reply   
Forex Focus: Yen's Prospects On The Rise Again
As the subprime saga in the U.S. unfolds, the prospects for the yen get better and better.

Not only is the Japanese currency likely to benefit from higher levels of global risk aversion that will prompt further unwinding of carry trades, it should also cash in on falling interest rate differentials.


PAR 08:19 GMT November 7, 2007 Reply   
Japan wants to stay competitive with China thats why they peg the Yen to the USD via stealth interventions .

Alaska Moon 08:12 GMT November 7, 2007 Reply   
The answer is Japan's exporters..
Moon

Syd .. 08:12 GMT November 7, 2007 Reply   
China Forex Reserves Policy Unchanged - Official

West Java Prof 08:10 GMT November 7, 2007 Reply   
Hello Forum...
May you tell me who are the very good predictors here?
Thanks and good luck to you all!



isr jweb 08:09 GMT November 7, 2007 Reply   
par - how do you know?

London 08:09 GMT November 7, 2007 Reply   
PAR why would they defend the Yen no point

Syd .. 08:06 GMT November 7, 2007 Reply   
TEHRAN (AFP)--Iran has built a landmark 3,000 centrifuges for uranium enrichment, President Mahmoud Ahmadinejad announced Wednesday, despite international pressure to halt its atomic work.

"We have now reached 3,000 machines," Ahmadinejad told a rally in the northeastern city of Birjand.

Scientists say in ideal conditions 3,000 centrifuges can make enough highly enriched uranium in a year's time for an atom bomb.

PAR 08:06 GMT November 7, 2007 Reply   
BOJ intervention to defend 113.50 and 113.25 on USDJPY .

Monaco Oil man 08:00 GMT November 7, 2007 Reply   
van Gecko 07:49 GMT November 7, 2007

Hi Gecko , good to see you too.
I'm guessing it's more all stops that popped..However people seem to be buying now still..I don't see $/Y pop below 113.60 atm..So should help $/CAD from here for a few pips...And also EURJPY , GBPJPY etc..So even now don't see contis drop(meaningfully) in the very soon...
Good Luck.

van Gecko 07:49 GMT November 7, 2007 Reply   
indeed OG..:) the party who paid 1.4666 can frame that ticket in gold!
don't know.. but good to see you too iw..

PAR 07:46 GMT November 7, 2007 Reply   
GM takes $ 39 BILLION charge on Tax Offset. Reflects likelihood GM will not earn significant profits in the near term.

Monaco Oil man 07:42 GMT November 7, 2007 Reply   
Bought $/CAD 9095 SL 9050 for a quick 100 pips scalp...
GL.

Helsinki iw 07:35 GMT November 7, 2007 Reply   
Gecko, nice to see you again. If I decipher you correctly we are in for an Olympic size dive all the way to the bottom of the pool?

madrid 07:31 GMT November 7, 2007 Reply   
Could be an interesting day ahead -
-more write downs ?
-us$ end of peg for some ?
-more " watch what they do, not what they say " ?
-KAMPO and Co in Japan can count on nearly 1 trillion un USD$ reserve... but shrinking by the day in value term so far
-etc
8-)
Could become volatile IMHO ...
Came in this am with a loss 8-) you can not win them all 8-)

Monaco Oil man 07:31 GMT November 7, 2007 Reply   
van Gecko 07:27 GMT November 7, 2007

Well a smart move from their side , spice the market in the middle of the night.

Syd .. 07:28 GMT November 7, 2007 Reply   
LONDON (Reuters) - Bond insurance, a key safety net of the financial system, is looking vulnerable, raising the possibility of another round of forced sales, writedowns and contagion.

Fitch Ratings said on Tuesday that it may cut the AAA ratings of bond insurers after an upcoming review of their exposure to complex collateralized debt obligations.http://www.reuters.com/article/reutersComService4/idUSL0620894420071106

van Gecko 07:27 GMT November 7, 2007 Reply   
that comment by Mr."146" was timed in thin market hours to inject some liquidity into the half dry euro pool.. fx top feeding blood transfusion at its finest.. fwiwW

Syd .. 07:23 GMT November 7, 2007 Reply   
Bond insurer Ambac disagreed with a Morgan Stanley analyst that said the firm may go out of business. Ambac's response, posted on its Web site, reiterates that its CDS contracts are highly modified from a standard CDS used by investment banks.

madrid mm 07:04 GMT November 7, 2007 Reply   
* Top China political adviser Cheng Siwei says China should diversify its $1.43trln FX reserves into buying strong currencies like Euro. China should not bow to foreign pressure on setting FX policy.
* Adviser Cheng later clarifies to say he did not mean to say we should buy more euros, without elaborating.
* RBA lifts Cash Rate by 25bps to 6.75%.
* RBA says inflation has increased. Q1 2008 both measures of inflation are likely above 3.0%. Rise in AUD will help contain price pressure. Few signs of Growth slowing.
* RBNZ says it expected to see continued demand for NZD in medium term, though risk appetite has been hit by credit worries in s-t.
* Aust PM John Howard and Aust Treasurer Peter Costello apologise for burden on additional burden placed on borrowers after RBA. hike. Rate hike due to inflation. RBA rates are still lower than under the Labour Government, and rates will be lower under coalition government (if he is re-elected) and under Labour government.
* Philadelphia Fed Charles Plosser, non FOMC voter, says in NYT, says it would take a sharply lower US growth of less than 1% for him to support another Fed rate cut. October rate cut decision "a close call." Would be be surprised to see 1-1.5% Q4 GDP growth.
* Japan FX reserves hit record highs of $954.484b, second after China's $1.43 trillion, but approaching key $1trillion mark as well.
* PBOC sets USD/CNY mid rate at new lows of 7.4478, hit 7.4420 lows.
* Market players took the "Advice" to buy EUR and stronger currencies seriously from China's Adviser Cheng's advice that China should diversify its Mammoth $1.43bln reserves by buying strong currencies such as EUR, sending EUR rocketing up through 1.4600 huge barriers, from 1.4560 to all time highs of 1.4663-66, with likely >EUR2-5bln traded around the initially thought to be "impregnable" 1.46 barriers.
* USD INDEX dived to new lows of 75.503 from 75.90 b4 extending losses, on broad based USD selling through stoploss, options across the board. GBP/USD rallied to 26-yr highs of 2.0949 from 2.0885, but stopped by 2.0950 huge barriers. It then broke key 2.0950, with focus on 2.1000, while break of 1.4663-63 EUR will open the door for 1.4700 option triggers. Not surprised to hear China, Asian CBs buying large?
USD/CHF dived through 1.14 handle to near 3-yr lows of 1.1351, low since NY eve 2005, with more downside seen, given SNB may still be in the mode to hike rates on higher inflation. EUR/CHF at 1.6645.
USD/JPY broke 114 handle to 113.83, as Nikkei extends fall, but talks Kampo at 113.80.
AUD got more lift from China Adviser Cheng's Advice on buying strong currencies than from RBA lifting of rate, having hit 23-yr highs of 0.9384, from 0.9320.
AUD, CAD are further supported by all time highs in Crude oil, $98.03 - just $2 from the Century Mark. Gold rallied to 28-yr highs of $835.90, just $15 from its all time highs of $850 seen on Jan 1980 during days of Russian invasion of Afghanistan.
CAD hit new highs of 0.9100.
Focus on Gulf Arab USD Pegs given the falling USD, and any more US write-downs.
Nikkei extends losses toward closing, -0.94% or 152.95pts at 16,096.68. JGBs a tad firmer, 10-yr yield -0.005% at 1.565%.
Gold hit 28-yr highs $835.90.
Crude oil hit all time highs $98.03, eye $100.

slv sam 07:00 GMT November 7, 2007 Reply   
slv sam 14:10 GMT November 6, 2007
euro on its way to 1.4650 but I am not gambling here!GT

My next advise If and when start some correction it will be shallow so buy any dip even 50pips down! 150 will be printed just for history sake! GT

Monaco Oil man 06:59 GMT November 7, 2007 Reply   
POTASH to 200...I think i posted postash to 150 a year ago...So let's get moving.

GL.

Helsinki iw 06:58 GMT November 7, 2007 Reply   
Helsinki iw 08:42 GMT October 31, 2007
EUR/USD approaching 1.45/1.46 window. Favor selling there, perhaps on Fed action, for better sized downmove. Keep in mind Athens' commnets from a few weeks ago. Stop if clear break of 1,46.

I was wrong and have been stopped. The break suggests that the rally continues towards 1,54/55, with obvious retracements on the way.

madrid mm 06:57 GMT November 7, 2007 Reply   
Hello and GM FX jedi 8-)

Slept in this am 8-O

Monaco Oil man 06:55 GMT November 7, 2007 Reply   
POPT still rules the game.

Melbourne Qindex 06:52 GMT November 7, 2007 Reply   
USD/CHF : The market may head for 1.1190 - 1.1198 in a few trading days.

Mumbai NS 06:29 GMT November 7, 2007 Reply   
Major indices are turning down infact Bombay stock exchange which opened positive has also turned in red now .......BOJ and Kampo will have a very busy day indeed gl gt

GENEVA DS 06:24 GMT November 7, 2007 Reply   
busy day for kampo and BOJ probably....

Melbourne Qindex 06:15 GMT November 7, 2007 Reply   
USD/CHF : Themarket is consolidating within 1.1331 - 1.1383 for the time being.

Melbourne Qindex 06:12 GMT November 7, 2007 Reply   
USD/CHF : Anything below 1.1331 is negative.

GENEVA DS 06:01 GMT November 7, 2007 Reply   
London 05:50 GMT November 7, 2007
CHINA ADVISER CHENG SAYS OF FX COMMENTS
I DIDN'T MEAN WE SHOULD BUY MORE EUROS

It s not what you say... it is what people hear that counts... good day to all

Como Perrie 05:53 GMT November 7, 2007 Reply   

London 05:50 GMT November 7, 2007

yeap later he corrected some, but the paper from PBOC confirms the chinese forex basket is set for a huge restyling...that mean they will buy more yens than euros to me, but euros as well and less dollars

London 05:50 GMT November 7, 2007 Reply   
CHINA ADVISER CHENG SAYS OF FX COMMENTS
I DIDN'T MEAN WE SHOULD BUY MORE EUROS

Como Perrie 05:49 GMT November 7, 2007 Reply   
Widespread expectations that the yuan will continue to appreciate
are at the root of China's monetary problems and a number of steps need to be taken to dampen them including reforming the current exchange rate regime, according to a report prepared by a department head at the People's Bank of China.

Como Perrie 05:48 GMT November 7, 2007 Reply   
Morgan Stanley could become the next bank to own up to further
sub-prime losses in light of the continued stagnation of the
asset-backed commercial paper market, the Telegraph reports.

Como Perrie 05:47 GMT November 7, 2007 Reply   
China should boost its holdings of strong currencies such
as the euro (or the yen) in its foreign exchange reserves to offset the weakness of other currencies like the U.S. dollar, Cheng Siwei, vice-chairman OF the Standing Committee of the National People's Congress (NPC), told earlier

Como Perrie 05:40 GMT November 7, 2007 Reply   
okidoki..have a good day around... gotta follow closely this nervous risky session...

g/l and don't overtrade

Como Perrie 05:38 GMT November 7, 2007 Reply   
Geneva 05:34 GMT November 7, 2007

mah as I see doubt to see that 100 anytime so soon, but in case It happens might be more today late today maybe, given the number of bankrupted big banks fast growing around

Monaco Oil man 05:38 GMT November 7, 2007 Reply   
Not really..But EURJPY to 170 probably..

Geneva 05:37 GMT November 7, 2007 Reply   
thats mean that we will have a crash in wall street pretty soon.

Monaco Oil man 05:35 GMT November 7, 2007 Reply   
Don't see that myself , but more of 113.6-115..

GL.

Geneva 05:34 GMT November 7, 2007 Reply   
I think dollar yen can be at 100 by the wek end!

Como Perrie 05:31 GMT November 7, 2007 Reply   
Will the usdjpy hold above 113 today ? Some doubts will not imo

USA BAY 05:22 GMT November 7, 2007 Reply   
We will see cad/jpy at 127.xx before and if there is a reversal.

Melbourne Qindex 05:17 GMT November 7, 2007 Reply   
USD (DX, NYBOT) : Heading Towards 74.88 

As shown in the monthly cycle charts the market is under pressure when it is below the center of the monthly cycle projected series at 77.02 and it is going to test the supporting strength 74.52 // 74.88.

Monaco Oil man 05:17 GMT November 7, 2007 Reply   
CADJPY Target 125 is here.

isr jweb 05:09 GMT November 7, 2007 Reply   
thanks Quindex!

Melbourne Qindex 05:06 GMT November 7, 2007 Reply   
USD/JPY : The downside target is 112.84.

isr jweb 05:05 GMT November 7, 2007 Reply   
i dont think he cares much. i think the 114 is somewhat barrierd for now. if it breaks maybe. the yen is a manipulated currency, and besides there are so many short yens that in a way it gives it some support.

Melbourne if the yen goes up will we see some correction in the majprs or vice versa?

toronto tomi 04:58 GMT November 7, 2007 Reply   
its pretty simple the 1st tp is 238
2nd 237 and the 3rd is 23450

this george w guy from washington is sweatin hix ballz rite now

Melbourne Qindex 04:53 GMT November 7, 2007 Reply   
GBP/JPY : When USD/JPY is trading below 114.00 we should have a better idea where it would like to go.


Melbourne Qindex 23:01 GMT November 6, 2007
Dallas 22:54 GMT - GBP/JPY : It may vibrate around 239.56 with an expected magnitude of 237.85 - 241.28. The movement of USD/JPY is the key here. I have a feeling that USD/JPY will go lower.

Melbourne Qindex 04:51 GMT November 7, 2007 Reply   
Melbourne Qindex 12:42 GMT November 6, 2007
USD/CAD : The market can easily move between 0.9231 - 0.9278 - 0.9290. The next downside consolidating ranges are 0.9034 - 0.9073 - 0.9089 - 0.9103. There is a gap, 123 pips, between 0.9103 - 0.9231.

Syd .. 04:49 GMT November 7, 2007 Reply   
Australia's Department of Employment says its leading indicator of employment - derived from local job ads, employment surveys - declined for 5th straight month in November to negative 0.115 from negative 0.102 in October; though still shy of 6 consecutive falls required to declare downturn in employment growth, department says it's "becoming more apparent that employment could grow more slowly than its long-term trend growth rate growth of 2.6% per year in around half a year's time".

Syd .. 04:47 GMT November 7, 2007 Reply   
GM Will Book $39 Billion Charge

THE WALL STREET JOURNAL

General Motors Corp. will take a $39 billion, noncash charge to write down deferred-tax credits, a signal that it expects to continue to struggle financially despite significant restructuring and cost cutting in the past two years.

The deferred-tax assets stem from losses and could be used to offset taxes on current or future profits for a certain number of years.

In after-hours trading, GM fell 2.9% to $35.14. Before the disclosure, its shares finished at $36.16, up 16 cents, or less than 1%, in New York Stock Exchange composite trading

Melbourne Qindex 04:45 GMT November 7, 2007 Reply   
USD/CAD : The following is still valid :


Melbourne Qindex 02:20 GMT November 6, 2007
USD/CAD : The projected supporting point at 0.9267 is likely to be tackled. The market is pulling towards the range at 0.9059 - 0.9124.

Melbourne Qindex 04:42 GMT November 7, 2007 Reply   
USD/JPY : Once the market can trade below 114.10, the weekly cycle downside targeting points should able to be reached. The weekly cycle downside taregeting points are 113.61 and 113.64.

Syd .. 04:37 GMT November 7, 2007 Reply   
Buba Official: Yuan Rate Should Reflect Econ Fundamentals
Buba Official:Excessive Volatility In FX Mkts Should Be Avoided

Melbourne DC 04:35 GMT November 7, 2007 Reply   
Rye, NY et 04:29 GMT November 7, 2007
i see , thx , much appreciated . ... i can impression the cfd'ers providers r all like that . the adv u get is tight fixed spread .. haven't seen any brokers that deals real rate off fx mkt able to match that .

Melbourne Qindex 04:32 GMT November 7, 2007 Reply   
EUR/USD : : As shown in the monthly cycle projected series the market is working on the barrier at 1.4529 // 1.4691. The mid-point reference of 1.4529 - 1.4691 is 1.4610. The monthly cycle charts indocate that the market has anchored itself above 1.4529 and it can easily move one step forward to 1.4817. The mid-point reference of 1.4529 - 1.4817 is 1.4673.

Rye, NY et 04:29 GMT November 7, 2007 Reply   
Melbourne DC 04:05 GMT November 7, 2007
what is a bucket shop ?
See: Reminiscences of a Stock Operator by Edwin Lefevre
Bucket shop has three meanings:
1. A pejorative colloquial phrase which refers to different kinds of businesses, indicating that the speaker believes it is a fraud or scam.
2. A brokerage enterprise that “books" (i.e., takes the opposite side of) retail customer orders without actually having them executed on an exchange.
3. Another name for airline ticket consolidators.
""Bucket Shop"" is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market. Operating a bucket shop would also likely involve violations of several provisions of US federal securities or commodity futures laws.

Monaco Oil man 04:28 GMT November 7, 2007 Reply   
Morning
So strong this NZD...few pips to go to 800 target.
GL!

sidoarjo forexion 04:26 GMT November 7, 2007 Reply   
What do you mean bucket shop, what they do? spike many times or what?

philly JS 04:10 GMT November 7, 2007 Reply   
Austin mw...Thanks for the correction about the GM loss. It was reported on CNBC and they initially thought it was related to their recent union medical plan settlement. Their producer told them the losses were all in financial investments...hence the supposition it meant sub prime...then I shut the radio off. If they corrected their assumption I never heard it...markets going crazy anyhow...LOL...good trading.

Melbourne Qindex 04:06 GMT November 7, 2007 Reply   
EUR/USD : 1.4597 - 1.4608 is a significant level for today.

Melbourne DC 04:05 GMT November 7, 2007 Reply   
what is a bucket shop ?
anyone any rec re brokers who does not freeze price at data release?

London 04:02 GMT November 7, 2007 Reply   
sidoarjo forexion 04:00 GMT November 7, 2007

No they are a bucket shop, be careful ...

sidoarjo forexion 04:01 GMT November 7, 2007 Reply   
Hi, I'm new here. Can anyone share about ODL? Is it really good to trade forex? They allow all type of trading including scalping, is that right?

sidoarjo forexion 04:01 GMT November 7, 2007 Reply   
Hi, I'm new here. Can anyone share about ODL? Is it really good to trade forex? They allow all type of trading including scalping, is that right?

sidoarjo forexion 04:01 GMT November 7, 2007 Reply   
Hi, I'm new here. Can anyone share about ODL? Is it really good to trade forex? They allow all type of trading including scalping, is that right?

Boston J. Henry 04:00 GMT November 7, 2007 Reply   
Hey Zeus you flipping donkey figured out what a trend is yet?

sidoarjo forexion 04:00 GMT November 7, 2007 Reply   
Hi, I'm new here. Can anyone share about ODL? Is it really good to trade forex? They allow all type of trading including scalping, is that right?

Melbourne DC 03:32 GMT November 7, 2007 Reply   
fwiw among my friends (25-30y.o) over last 2 yr ...
one group (3 ) renting n says no hope of buying house , so not relevant to hse demand.
another group (4) been looking for house last 2-3 yrs . was waiting for softer prices when super rule change thought would soften hse price. But drop did not really come, bit the bullet this yr , and all of them bought their house by q3 this yr.

Syd .. 03:09 GMT November 7, 2007 Reply   
Australia's Department of Employment said Wednesday that its leading indicator of employment fell to a negative 0.115 in November from a revised negative 0.102 in October.

Syd .. 03:06 GMT November 7, 2007 Reply   
Australian Leading Employment Indicator Fell In November

Melbourne DC 03:03 GMT November 7, 2007 Reply   
fwiw Aus hse n leading jobs

Washington MRM 03:00 GMT November 7, 2007 Reply   
Going long GBP/JPY at 239.44... looking for a big break higher this session - as sterling should be supported from comments while yen remains weak. When price breaks 239.80, will add more.

Alaska Moon 03:00 GMT November 7, 2007 Reply   
===========
As I have posted before....trading is a lot like flying a bush plane in Alaska.....countless hours of boredom, broken by moments of sheer TERROR. LOL
Moon

Atlanta South 02:59 GMT November 7, 2007 Reply   
Hey Zeus, I sounds like you a really going for the GOLD. I hope it works out. Gt & Gl.

USA Zeus 02:59 GMT November 7, 2007 Reply   
Vail MC 02:55 GMT November 7, 2007

Yes am at large % risk now. Have scalped around the corners but won't bother with all those details. The USD could be the buy of the century here!
GL GT!

Melbourne DC 02:58 GMT November 7, 2007 Reply   
USA Zeus 02:52 GMT November 7, 2007
ur patience prob paying off this time , thx to a chinese nut :))

Vail MC 02:55 GMT November 7, 2007 Reply   
Zeus, you must have massive % at risk or small positions to keep doubling up on all your positions. Can't say you don't have conviction. Hope it finally works for you. Have a good night.

USA Zeus 02:52 GMT November 7, 2007 Reply   
goin' parabolic here so I'm goin' exponential.
Short EUR/USD 1.4655, GBP/USD 2.0942, Oil 97.87, Gold 836.80 and SP 500 1524.50
Doubled position size from previous ave.
Looks like this will be the ticket!
GT! :-)

Melbourne DC 02:50 GMT November 7, 2007 Reply   
commentreversed

Syd .. 02:49 GMT November 7, 2007 Reply   
Rift with Darling puts King's job on the line
The future of Mervyn King, the Governor of the Bank of England, was under threat last night following a public split over the Northern Rock crisis with Alistair Darling, the Chancellorhttp://www.telegraph.co.uk/money/main.jhtml;jsessionid=W45VU220LZKC5QFIQMFCFGGAVCBQYIV0?xml=/money/2007/11/07/nrock107.xml

saopaulo cg 02:46 GMT November 7, 2007 Reply   
uk newspaper saying that german West LB is next to announce big writeoff.

austin mw 02:43 GMT November 7, 2007 Reply   
Philadelphia Caba 02:38 GMT November 7, 2007

I had just bot Eur at 4561 and was entering stops.. needless to say flat now.

dc CB 02:42 GMT November 7, 2007 Reply   
I wonder if the Goldman employees will want their bonus paid in Euros....but then maybe that's just what they'll be getting.

Philadelphia Caba 02:38 GMT November 7, 2007 Reply   
Comments made by a top Chinese adviser saying that China should diversify more of their 1.4 TLN USD reserves into the Euro sparked a huge jump in the EUR/USD from 1.4565 to 1.4665 in very quick time. The comments have weighed on the US dollar across the board and helped push gold ever higher...

NY Trader 02:38 GMT November 7, 2007 Reply   
That means, all these commoditiy currencies will go through the roof right?
Aud/Usd towards parity, Nzd/Usd 0.94--Usd/Cad to 0.82 ---wow---big rallies coming!!!

London Neil 02:38 GMT November 7, 2007 Reply   
Thank goodness....thought something had been blown up for a minute...

dc CB 02:37 GMT November 7, 2007 Reply   
Nov. 6 (Bloomberg) -- When Goldman Sachs Group Inc. employees cash their year-end checks, they'll have enough money to buy Bear Stearns Cos.

Goldman, the biggest and most profitable U.S. securities firm, set aside $16.9 billion to pay salaries, benefits and bonuses in the first nine months of 2007, according to the company's third-quarter earnings report. The stock market values Bear Stearns Cos., the fifth-biggest firm, at $14.7 billion. Bonuses, the majority of Wall Street compensation, are typically paid after the fiscal year ends this month.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aMnkUX5lQN8k&refer=exclusive

St. Pete Islander 02:36 GMT November 7, 2007 Reply   
I think this might have something to do with it .......

[CHINA] should diversify FX reserves into strong currencies such as [EURO] and that China will not cave in to foreign pressure when setting its Yuan policy, said Cheng Siwei, vice chairman of the Chinese People's Political and Consultative Conference, parliament's top advisory body. He said that China will follow its own independent policy with regards to the Yuan even against a backdrop of constant pressure from the US and EU communities.

melbourne saint 02:36 GMT November 7, 2007 Reply   
02:20 CNY NEWS: China Shld Switch FX Reserves to Strong EUR - Adviser

Philadelphia Caba 02:36 GMT November 7, 2007 Reply   
..comments from a Chinese official saying that China should diversify into strong currencies such as the Euro have sparked the move higher...(thms)

Lahore FM 02:34 GMT November 7, 2007 Reply   
nice way to kick off the trading day.

London Neil 02:34 GMT November 7, 2007 Reply   
Nothing on the news yet...

saopaulo cg 02:33 GMT November 7, 2007 Reply   
someone knows what happened ??

Syd .. 02:33 GMT November 7, 2007 Reply   
Dollar Falls About Half A Yen To Y114.12

Ny Trader 02:32 GMT November 7, 2007 Reply   
Huge spike in Euro/Usd & Gbp/Usd---Guyz, Any idea???

austin mw 02:29 GMT November 7, 2007 Reply   
oil prints 97.40 in electronic trading.. tomorrow's print of $100 should be very interesting...

out of morgan stanley on housing:

US Economics
Housing: Enter the Bear Scenario
October 30, 2007

By Richard Berner

Not bearish enough: Builders may have to slash up to another 40% from 1-family housing starts to balance supply with demand. And real home prices likely will have to decline by 10% to make housing more affordable and boost demand. Neither such a construction decline nor its potential effect on economic activity seems to be in any forecast.

More vulnerable economy: The resulting further decline in housing activity would likely knock a quarter percentage point off our already below-consensus US growth forecast over the next year, leaving the economy a bit more vulnerable to unexpected shocks. In my view, that suggests that the odds of a recession are about one in three.

Not in the price: Housing appears to be at the crossroads of the disconnect between equity and fixed-income investors. We suspect that the damage from such a downturn is not yet reflected in the equity prices for either housing or housing-related industries. In contrast, fixed-income market participants seem to be anticipating broad spillovers into the rest of the economy.

Risks: Unsold new homes in inventory remain a major factor in the housing outlook. An aggressive response from builders would clear the market faster. Conversely, the longer that builders defer the adjustment, the more would-be buyers may wait for more attractive deals, putting home prices and activity at further risk.

Syd .. 02:27 GMT November 7, 2007 Reply   
Soaring dollar, drought drive farmers to brink
The beef industry in Western Australia (WA) is struggling with a number of difficulties, with many producers considering an exit from farming. Abattoirs are losing staff to the resources boom, the drought is causing destocking on the eastern seaboard with a consequent influx of cheap product into WA, and the rising Australian currency is making WA beef less competitive in export markets across Asia. Rural landholders can now also receive greater returns by selling their assets to tree plantation operators. Cattle prices in WA have declined by about a third between September and November 2007, to a median of only $A0.60 per kilogram on the hoof.

Syd .. 02:22 GMT November 7, 2007 Reply   
Commonwealth Bk CEO: Rate Rise To Hurt Lending Growth

austin mw 02:18 GMT November 7, 2007 Reply   
philly JS 02:13 GMT November 7, 2007

GM posted $39 billion charge for deferred taxes not subprime

philly JS 02:13 GMT November 7, 2007 Reply   
Just heard on the radio at 8:45 PM that GM has just posted losses of 39 BILLION $$$$ related to sub prime and other financial holdings....that is more than Merril, Citi and several other lenders combined! OUCH!

Syd .. 02:12 GMT November 7, 2007 Reply   
It is unclear when adjustments in U.S. real estate markets will be complete, and euro-zone money markets aren't entirely back to normal yet, Hermann Remsperger, a Deutsche Bundesbank executive board member, said Wednesday.

"There might be more delinquencies of U.S. homeowners during the coming quarters, and we do not know when the adjustment process in the U.S. real estate markets will come to an end," Remsperger said in the text of a speech presented in Beijing.

Money market conditions in the euro zone haven't fully returned to normal, despite the fact that liquidity injections by the European Central Bank have reduced tensions in the financial system, he added.

"The funding of the interbank market continues to be hampered by liquidity concerns and a lack of confidence with regard to potential counterparties," he said.

Remsperger is also the German government's representative at meetings of the Group of Seven leading industrial nations and other multilateral gatherings.

Recent financial market turbulence built up amid new and complex financial instruments, new business models, and new - largely unregulated - market participants, Remsperger said. He cited hedge funds, private equity firms, commercial paper conduits and structured investment vehicles, as well as sovereign wealth funds.

"A lack of transparency and the underestimation of liquidity risks were at the center of recent financial turbulences," he added, saying that transparency is key to safeguarding financial stability.

Syd .. 01:57 GMT November 7, 2007 Reply   
China is considering raising the fees companies pay for mining rights and resource extraction, the official Xinhua News Agency reported late Tuesday, citing a Ministry of Land and Resources official.

Vice Minister Wang Min said at a discussion on sustainable resource use that the current resource fees for mineral extraction are too low and proposed adjusting them "at a suitable time, as soon as possible," according to Xinhua

USA BAY 01:52 GMT November 7, 2007 Reply   
Melbourne Qindex,

Dr Q, thanks a lot for posting the analysis.

Syd .. 01:41 GMT November 7, 2007 Reply   
WHILE China's love of all things mineral is doing great things for the Australian economy, other sectors are feeling the pain of China's meteoric growth.

In particular, Australian furniture makers are finding themselves undermined by imports from China that, while cheaper to retailers, may also be inferior to the local goods.

Consequently, the Furniture Industry Association of Australia (FIAA) has begun a campaign to encourage consumers to buy the local products instead of the imported ones.

"It's our belief that about 50 per cent of all furniture sold is from foreign markets," president of the Queensland branch of the FIAA, Kevin Feldman, said.

Melbourne Qindex 01:28 GMT November 7, 2007 Reply   
GBP/CHF : As shown in the monthly cycle charts the market is under pressure when it is below 2.3948. The monthly cycle projected series indicates that the market is heading towards the lower barrier at 2.3619 // 2.3685.

Syd .. 01:22 GMT November 7, 2007 Reply   
Australia's housing sector buckled slightly in September hit by rising interest rates and concerns the central bank will continue tapping the monetary brakes into 2008. Housing investor demand also slumped as the impact of a 25 basis point rise in the Reserve Bank of Australia's official cash rate target in August sapped confidence. The number of housing finance approvals fell a seasonally adjusted 2.4% in September from August, the Bureau of Statistics said Wednesday. Economists surveyed ahead of the announcement on average had expected a fall of 1.0% in September. The value of investment housing loans in September fell 3.3% from August. In a breakdown of the data, the bureau said the number of finance approvals to build houses rose a seasonally adjusted 1.4% in September from August and the number of approvals to buy newly built houses fell 3.5%. The number of approvals for the purchase of established houses decreased 2.7%. Signs of a slowdown in housing emerged as the RBA announced its second rate hike for 2007, and the 10th in the current tightening cycle.

Syd .. 01:19 GMT November 7, 2007 Reply   
The situation is becoming far more out reaching than people realize

SAO PAULO (AP)--Financially strapped airline BRA Transportes Aereas has asked Brazilian aviation officials for permission to temporarily halt all of its domestic and international flights, the company said Tuesday.

The suspension of service would begin on Wednesday, BRA said in a statement. The carrier said it expected immediate authorization and was arranging for ticketed customers to fly on other airlines, but didn't elaborate on why it planned the shutdown.

The company reportedly sent layoff notices to all of its 1,100 employees, Globo TV said.

BRA had canceled its international flights in mid-October amid financial problems
The suspension will remain until the company obtains a cash injection from Brazil Air Partners, which includes Goldman Sachs Group Inc. (GS), Bank of America Corp. (BAC) and Gavea Investimentos, the Agencia Estado news service reported. The group pumped an undisclosed sum into BRA late last year in return for a 20% stake.

BRA had ambitious plans to expand its share of the regional air travel market from TAM Linhas Aereas SA and GOL Linhas Aereas Inteligentes SA (GOL). Earlier in the year, it ordered 20 Embraer E-195 regional jets and took options on 20 more.

Syd .. 01:16 GMT November 7, 2007 Reply   
PBOC Official Suggests Tax On Speculative Fund Outflows
Suggests China Should Prevent Asset Price Bubble

Syd .. 01:15 GMT November 7, 2007 Reply   
Auckland JJ 01:07 see the aud topping out soon (this week), housing data will start to deteriorate which in turn will knock the Aud in the head only a matter of time -

Auckland JJ 01:07 GMT November 7, 2007 Reply   
Syd will the weak housing data effect the upward march of the AUD/US despite the interest hike and RAB comments of future hikes. And what is driving the NZD.

Melbourne Qindex 01:00 GMT November 7, 2007 Reply   
GBP/CHF : The weekly cycle pivot center is located at 2.3961 - 2.4087. The weekly cycle downside targeting points are 2.3757 and 2.3834.

Melbourne Qindex 00:58 GMT November 7, 2007 Reply   
GBP/CHF : the bias is on the downside when the market is trading below the barrier at 2.4157 - 2.4259. The supporting barrier at 2.3710 - 2.3745 is going to be tested.

saopaulo cg 00:56 GMT November 7, 2007 Reply   
today dow up, SnP up, european bourses up, nikkei up but usdjpy can´t go up ???? what is happening !!!! come on in carry traders !!

Syd .. 00:39 GMT November 7, 2007 Reply   
Aussie Housing Data Weaker Than Expected

Australian September housing finance slips 2.4% on month, weaker than expectations of 1.0% drop; housing investment finance 3.3% lower, indicating confidence slipping in housing sector. At the margin, data reduces slightly pressure on RBA for near-term follow up rate hike; central bank earlier lifted rates 25 bps to 6.75%, citing higher inflation.

Syd .. 00:31 GMT November 7, 2007 Reply   
The bosses who gambled and lost
Loathing and fear continued to grip Wall Street yesterday as investors and financial sector employees struggled to understand how allegedly iron-clad institutions, including Citigroup and Merrill Lynch, fell so dramatically foul of the sub-prime mortgage fiasco announcing multi-billion-dollar write-downs.

"Wall Street wants heads," said analyst David Dreman, whose firm Dreman Value management is based in Aspen, Colorado. Shaken investors have seen two very large ones roll from top perches already – first Stan O'Neal of Merrill Lynch and on Sunday, Charles "Chuck" Prince of Citigroup – but the spectacle of their respective humiliations has been scarcely satisfying.

Healthy though it may be that even the most senior-ranking universe-masters are willing to fall on their swords, it doesn't answer how their respective banks bungled so badly in the first place, exposing themselves to such gargantuan risk with deeply complicated financial products that perhaps even their own specialists didn't understand, all built on a sub-prime lending bonanza that so quickly went sour.
http://news.independent.co.uk/business/news/article3135371.ece

Syd .. 00:28 GMT November 7, 2007 Reply   


HK [email protected] 00:25 GMT
excellent writing on that he has a good imagination couldnt have put it better myself -Wall street becoming the land of the living dead :-))

HK [email protected] 00:25 GMT November 7, 2007 Reply   
Syd .. 00:17 GMT November 7, 2007

Thus it's time to watch the thriller...return of the living deads


http://www.youtube.com/watch?v=if7M_fRfFTI

Syd .. 00:17 GMT November 7, 2007 Reply   
No one knows where the bodies are buried. Indeed, no one is quite sure exactly how many bodies there are. But they are out there, and there are plenty of them: underperforming loans, worthless securities and overvalued assets, all safely buried well away from the banks' balance sheets. Buried – but not quite dead.

Increasingly they are surfacing, and these financial zombies are every bit as frightening as any you'll encounter in a horror flick. No less terrifying are the other ghouls haunting the global economy: oil at $97 (£46)a barrel; the price of commodities from copper to wheat at historic highs and a White House seemingly intent on scaring everyone witless with the prospect of a fresh conflagration in the Middle East.

Syd .. 00:16 GMT November 7, 2007 Reply   
A financial crisis that began in the US is coming to a home near you
As American banks admit the billion-dollar scale of their losses, Bank of England Governor warns that the worst is still to come in Britain
http://news.independent.co.uk/business/news/article3135372.ece

Syd .. 00:11 GMT November 7, 2007 Reply   
Markets fear banks have $1 trillion in toxic debt
http://news.independent.co.uk/business/news/article3132507.ece

Melbourne Qindex 00:11 GMT November 7, 2007 Reply   
AUD/CAD : :  Heading Towards 0.8466

As shown in the monthly cycle charts the market is under pressure when it is below 0.8724. The market is going to challenge the supporting strength of 0.8533 and it has potential to tackle the lower barrier at 0.8296 // 0.8343.

Melbourne Qindex 00:09 GMT November 7, 2007 Reply   
AUD/CAD : The weekly cycle charts indicates that the market is going to vibrate around 0.8547 with an expected magnitude of 0.8456 - 0.8638 for the time being. The weekly cycle pivot center is located at 0.8274 - 0.8306.

Syd .. 00:08 GMT November 7, 2007 Reply   
will have to see where I found it again :-((

HK [email protected] 00:01 GMT November 7, 2007 Reply   
London 23:00 GMT November 6, 2007
HK [email protected] 22:56 GMT do you have a report on that

------------------------------------------------------------
London 23:00 GMT November 6, 2007

Here you got it!!!!!!!!!!!!! Maybe you ask Syd. Where he got it from.

Syd .. 23:51 GMT November 6, 2007
7 November 2007 Markets fear banks have $1 trillion in toxic debt
A new phase in the credit crunch, one of “$1 trillion losses” seems to be dawning.

------------------------------------------------------------
If most of this toxic debt is financed by Yen loans, that is what remained to be found.

 




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