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EURJPY Liquidations Take Pair Below 110, 100 pip Move In Seconds; BOJ Expected To Intervene Imminently

Tyler Durden's picture




 

Nobody cares about the euro any longer, but the following chart shows why EUR traders just ran out of money to even prepay their bodybags. The EURJPY just plunged 100 pips in one block!!! This is complete capitulation and the BOJ has no choice but to intervene. Too bad about that GDP miss and record low deflator announced yeterday.

 

 

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Thu, 05/20/2010 - 10:39 | 362920 chumbawamba
chumbawamba's picture

Sorry to hi-jack the comment thread for this, but Julian Assange (WikiLeaks) has had his passport revoked in Australia:

http://www.salon.com/news/opinion/glenn_greenwald/2010/05/19/wikileaks/i...

Also, GOLD BITCHES!!

http://www.youtube.com/watch?v=dwWso5m2f5c&playnext_from=TL&videos=JgC6Z...
tc

I am Chumbawamba.

Thu, 05/20/2010 - 10:41 | 362927 snowball777
snowball777's picture

22 karat mole: priceless.

 

Thu, 05/20/2010 - 10:44 | 362935 tmosley
tmosley's picture

The way I heard it, he got it back 20 minutes later.

Thu, 05/20/2010 - 10:52 | 362945 Cognitive Dissonance
Cognitive Dissonance's picture

So much for the barbarous relic. Isn't it funny how we humans return to our roots when the wizards' smoke and mirrors don't enthrall anymore.

Thu, 05/20/2010 - 11:02 | 362971 Hulk
Hulk's picture

The Chinese have seen this movie already. Thus the sense of urgency..

Thu, 05/20/2010 - 11:53 | 363095 Cognitive Dissonance
Cognitive Dissonance's picture

Agreed. The Chinese are relatively new converts to the "consumer culture" and thus haven't been completely brainwashed into thinking that the masters of the universe are all powerful and that anything older than 50 years is useless.

The oldest culture on earth has something the rest of the world might benefit from learning.

Thu, 05/20/2010 - 12:10 | 363135 ratava
ratava's picture

i, for one, hope the world proceeds to learn hanging corrupt officials and bankers.

Thu, 05/20/2010 - 13:05 | 363317 Hephasteus
Hephasteus's picture

Why hang them. What they really need is to be told over and over to sit down and shut the hell up.

Irrelevancy BITCHES!!

Thu, 05/20/2010 - 10:39 | 362922 mikla
mikla's picture

Yeah, hate to think we'd have markets without intervention.

Thu, 05/20/2010 - 10:42 | 362928 Cognitive Dissonance
Cognitive Dissonance's picture

Looks like someone tripped over the trap door release mechanism and the entire stinking lot of them fell through. Oh well, there's a reserve crew in the next room. Send in the clowns.

Thu, 05/20/2010 - 10:42 | 362929 RobD
RobD's picture

Ya and gold is on a freaking rollercoaster.

Thu, 05/20/2010 - 10:42 | 362930 Fish Gone Bad
Fish Gone Bad's picture

Should I start popping the popcorn now and call in sick to work, or wait until the evening news?

Thu, 05/20/2010 - 10:42 | 362931 Caviar Emptor
Caviar Emptor's picture

The game of musical chairs has begun. Smiles are soon to be off the faces of the international brotherhood of central bankers. 

Market turmoil just gives Germans more fodder to start regulating hedge funds, imposing bank and trading taxes and restricting certain derivatives on German assets. F_you, Anglosphere casino capitalism.

Thu, 05/20/2010 - 10:46 | 362938 doomandbloom
doomandbloom's picture

fat middle finger?

Thu, 05/20/2010 - 10:52 | 362943 Caviar Emptor
Caviar Emptor's picture

Phat mittle finger yaaaaa!

Thu, 05/20/2010 - 10:52 | 362946 depression
depression's picture

Get your 0.01 cent bids in now !

Harry ? Anyone seen Harry ?

Thu, 05/20/2010 - 10:57 | 362960 AllYourBaseAreB...
AllYourBaseAreBelongToUs's picture

It's whipsaw Thursday.  Again.

Thu, 05/20/2010 - 11:06 | 362985 omi
omi's picture

Guys! I know, it was a fat finger!

Thu, 05/20/2010 - 11:22 | 363005 mtremus
mtremus's picture

June S&P

Resistence 1086

Support 1066

Thu, 05/20/2010 - 11:36 | 363038 ratava
ratava's picture

sorry pal, your stoploss just slipped 98 pips.

Thu, 05/20/2010 - 11:47 | 363077 curbyourrisk
curbyourrisk's picture

The Chinese have learned from Martin Armstorng how things will play out.  They are going to sit back and let us eat each other.....

Thu, 05/20/2010 - 11:59 | 363113 Grand Supercycle
Thu, 05/20/2010 - 12:00 | 363120 carbonmutant
carbonmutant's picture

It's unfortunate that the young Chinese communists are so intent in maginalizing their own roots in order to prove they can out consume the West.

Thu, 05/20/2010 - 15:12 | 363582 Grand Supercycle
Grand Supercycle's picture

 

For several days I have been warning of EURUSD buying support as detected by my indicators, and this has been confirmed by the recent break out.

The proprietary indicators I use can identify trend changes before they occur.

http://stockmarket618.wordpress.com

http://www.zerohedge.com/forum/latest-market-outlook-1

Do NOT follow this link or you will be banned from the site!