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EURUSD Now Swings To Positive For The Day As Central Banks Come Out In Full Defense Of Euro
Volatility in Euro trading is now reminiscent of bucket shop penny stocks. After plunging to the mid 1.22, the EURUSD is now back to green for the day. This is due primarily to panicked buying by various central banks every time the EUR drops to support levels, a fact now fully transparent to the entire market.
More importantly, the EURJPY which is much more critical as a carry funding source to buy stocks, is almost back to unchanged, which in turn has forced a spike in the market to retrace nearly half its losses in under an hour. If anyone believes stocks track any fundamental news flow, our condolences. As disclosed last week, any stock trade, especially of the short variety, now faces the world's biggest money printers in the world and high priests of Keynesianism as a very malevolent counterparty.
We expect a green market close on full blown CB currency defense, as "manipulated markets" are now redefined not daily but hourly.
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Any way to get hold of which CBs that are in on this?
EVERY ONE.
http://www.youtube.com/watch?v=MrTsuvykUZk
http://www.youtube.com/watch?v=cyfbRz4ObFY&feature=related
Ha!
And that's why I bought a few calls fri. instead of puts.
Then...
"Turn the machines back on!"
- Randolph Duke of Duke & Duke
Now...
"Turn the printing presses back on!"
- Jean Claude Trichet of the ECB
Wow, you are so smart! What's it like to be so smart?
EURUSD has dropped 700 pips maybe a counter trend rally.
This "rally" looks more like a 23.6% Fibonacci retracement of last Monday's high. Do you get the feeling that some people here should change their chart settings from one-minute to 60 minutes instead? Gee whiz.
now where will the luquidity come from? all 2 people here who understood you will now pull out...
damn you man... damn you!
Whatever the deciding correlation to keep the markets up for the day is will be what they pump. When it was oil they pumped oil until they realize $5.00 a gallon would not work for consumer. When it was the dollar carry trade and gold higher that was the pump.Now the plate spinning turns to the Euro and operation pump the Euro will be underway as they all collectively defend the Euro and make their living squeezing shorts and collaborating together in the ultimate example of collusion. Eventually all the plates fall
The first 20 billion of the 750 billion was spend.
At this rate, they can push it up for 2 months!
Get ready to buy this dip ;)
The trend does appear over....this means....
BS pushed the startup button. Lets see if he can make that printing press purrr once more. Swap open!
Die, die, die, my doelarr!
Three primary elections tomorrow:Pennsylvania, Kentucky and Arkansas.
Color me not shocked if the markets somehow ended green.
T-6 months to mid-terms elections. Keep your eyes on the prize boys and girls.
Instead of loaning $750 billion to Greece and other PIIGS, they are using it for the sole purpose of buying ES futures.
LOL....
DIE EURO DIE!
I have dreams of having bear sex with 10 hookers in Amsterdam for $50.00 USD in one night.
Amsterdam hookers are mostly heroin addicts man...
Go to Amsterdam and take the train to Antwerp (40 minute ride)
Look up the escort services "Antwerp Elite Escorts". They have some 2000€/h beautifull princesses. You'll feel like Hugh Hefner ;)
Thanks bro, i'll make sure to do that after the coming Euro apocalpyse. Until then i'll just settle for disease-infested crack addicts on 151st street.
3pm meltup is early today.
Currency Nipples everywhere....
Charts of the currency ETF's here:
http://clearstation.etrade.com/cgi-bin/bbs?post_id=9309374
It might be embarrassing if those nipples....um....migrated away from their ideal location, wouldn't you say? Are they permanently fixed in place? :>)
I just had a thought. What happens if she gets....um....excited or cold and she sprouts her natural nipples directly under (or over) the fake ones? Whoops!
More embarrassing would be the discovery that one is wearing a bra with nipples...
Is that a fake nipple in your bra or are you happy to see me?
Unless the guy is wearing one of those package enhancers.
Two fakes multiplied together make a positive, right?
BTW, you're Black Pelican joke had me laughing and crying at the same time. I can't begin to imagine what it's like waiting for the black death to roll ashore. I understand it already has in some places but sooner or later, this mess is heading straight up Ole Miss.
"Two fakes multiplied together make a positive, right?"
Well to fakers are more likely to get together anyway. And if Grandma has set up a trust for the little fakers and said fakers do in fact "multiply", you could end up with a lawyer, invesment banker, etc.
Two grand! That's a lot of silver...
Looks like the nipple they were using as a decimal point fell off, making $20.00 into $2,000.
looks like a fat finger nipple mispricing.
They look like rabit noses behind a fence :)
Next comes the "camel toe Daisy Dukes"
fuck them robo, i been strengthening mine naturally my whole life, by not ever wearing a bra. no cheeky it wasn't cold out when i had the pic taken, spring like in sprung. i just have really perky ones. like a 20 year old. thank you very much.
woman are such losers some times, like their minds are in the dumpster.
I just wanted to say thank you.
That's all.
Some "V" patterns now appearing on FX.
http://www.divinecaroline.com/ext/article_images/cameltoe.html
"Look for Jr. Model coming soon."
Ughhhh!!!
"Cougar model includes built-in bottle opener."
I want to meet the sick mother who came up with this little joke.
i don't know what that thing is
but it is not relative to this particular post.
just sayin†
Minds will be racing ;-)
It might be my eyes velobabe buy they seem pretty small to me on the picto. Got anything highres?
If your avatar is really of your chest, than yes I concur you've done a fantastic job. Can you send me a few more pic's so I can do a full audit? I'm from S&P.
Zerohedge has the smartest and hottest...
HOW DARE YOU JUNK THE NIPPLE BRA!!
Just went long CDE @ 17.25
dollar up, market down. Dollar down market down. ride the see saw! News and data I agree are on the back burner now. We could have 12% unemployment but a dollar down 2% day and we'll be green in the equity markets!
NEGATIVE MONDAYS NOT ALLOWED!!!!
How difficult is it to manipulate currency markets even on a short term basis if you're a CB? equity markets, perhaps, but Currency markets are SOOOO much bigger than equity markets. the notional in currency markets i think is $400 trillion? is it at all feasible under the assumption this buying is manipulated by CBs that this lasts longer than a day?
derivatives also help. FX is never as simple as buying and selling; swap contracts play more significant role than traditional trading techniques. Technically LMBA members can infuse 5 trillion MONTHLY into FX [i said technically and not practically, because it would cause nuclear holocaust in most asset classes, and thats if they use an arcane and highly illiquid form of C-2-C swap]. It can be easily done; heck Soros broke the pound with 2 billion and 40 leverage.
But he is given and takes credit for being prescient, wise and great investor, when what he actually did was arrange to break the pound, intentionlly.
It was Druckenmiller who structured and unwind the trade. The only thing Soros did is perform a thought experiment somewhere in 81 which was the following; what would happen if communism [eastern block] disintegrates. Glasnost and Perestroika were his main indicators that in 5-7 years it would. He focused on Germany and how the mark would behave when East adapts the currency. Soros did shit except thought of a far fetched scenario and ordered Druckenmiller to do the trade. He admitted numerous times that he had little, if any, idea how the trade was going or would it even succeed until BOE started to question the participation in ERM on a more serious and more frequent basis.
Where did you read about that?
I don't get why so many people pay attention to idiots like presidents and politicians. I can't get enough of reading about how they make their decisions. I mean George Washington? John Adams? Low-rate drunks in the IQ department compared to their team.
It's not a trading approach for anyone except for ultra-geniuses of their caliber, but still...
Soros' thesis has been that the US is fucked since after the bailout. He even said so publicly.
EUR FX is over-fucking-sold .... this is the same thing that has happened with the market in march of 09 .... pussy traders who react as a fucking herd a.k.a "free market" dynamics. If measuring in terms of probability of an event occurring ; it is more likely that EUR=GDP than EUR=USD. But who am i to wage wars against SCM and Japanese housewives.
I've heard these japanese housewives really pack a punch... better watch out man.
cheeky, wanted to relate a story about someone i knew. hunter s thompson shot himself because of PAIN. said he couldn't live with it anymore. his CHOSEN rehab was swimming. but he simply made excuses to not do it. he said the only time he could swim was at 2am. not a whole lot of health clubs open at that time nor sharing rich homeowners with pools. i knew his therapist really well, well she was my rebah therapist too. you better take care of it soon. like i said you have to sustain wellness in your own life, no one else will do it for you.
When the going gets wierd, the wierd turn pro. Salud.
Didn't know him but keep an Aspen Police cap as a special token in his honor.
I couldn't agree more. The fact that everyone is screaming for the Euro to go to par with the USD while a majority of people staying silent about the GBP shows a lot of people are just parrots repeating what they are reading/watching on various financial news sites.
Euro is crap. However, its still in a lot better shape than the USD or GBP.
Eventually news will focus on another currency and everyone will blindly follow that, too.
Agreed. Oversold for now, time to exchange.
The euro will weaken to parity with the dollar next year as the region’s financial crisis forces the European Central Bank to maintain a “loose” monetary policy, according to BNP Paribas SA…
There’s a 12 percent chance that the euro will fall to parity with the dollar by the end of March, implied volatility from options trading monitored by Bloomberg showed. The odds rise to almost 14 percent for it to occur in a year.
http://www.businessweek.com/news/2010-05-06/euro-to-reach-parity-with-dollar-next-year-bnp-paribas-says.html
The recent weakening of the euro's exchange rate is no problem, but the fiscal deficit situation in some members of the euro zone is a reason for concern and must be tackled, European Central Bank council member Ewald Nowotny said Monday.
Reducing deficits is burdensome, but it is "absolutely" necessary, he said at a conference in Berlin, where he contended the euro's exchange rate is in a normal trading range.
http://online.wsj.com/article/BT-CO-20100517-711971.html?mod=WSJ_latestheadlines
The euro may extend losses as investors abandon the currency on concern measures to reduce budget deficits in Europe will trigger a recession, Commerzbank AG said.
“There is little reason to expect an end to the free-fall of the euro,” a team of Commerzbank analysts led by Ulrich Leuchtmann wrote in a note to clients today. “It is becoming increasingly clear that fiscal consolidation will only be obtainable at the cost of a massive recession.”
http://www.businessweek.com/news/2010-05-17/euro-touches-lowest-level-since-2006-on-europe-s-debt-crisis.html
"Everybody is bailing out everybody without any cash. The end of the story is that somebody needs to print the cash and that is the central bank and that's where we get inflation threats."
http://www.reuters.com/article/idUSLDE64D1AY20100517
it is, you are right. But plenty of things have stayed oversold for a long time and carted many wise men out! You know the saying.....
JCB, ECB, Fed and ChiComs have been busy, busy, busy....
although i lack ovaries, i want a pregnancy test! i have been f*cked so many times by these frickin CB's that i need to be sure all is clear....
This is another major scam. Trichet must have
been doing the telephone rounds all day, given
the state of the Asian and European markets today.
Well, on the good side of things, markets always
up on Mondays, this time not the PPT and Ben
Shalom. I love this quote of Trichet'sinterview
in the German Handelsblatt: We are not changing our
monetary policy stance:
"All our decisions – including last Sunday’s – are taken after weighing up all the pros and cons.
HB: Were you not in contact with authorities?
Trichet: Yes, I was in contact with my good friend Ben Bernanke, the Chairman of the Federal Reserve and other central bank governors, throughout the evening and the night. It was not only a European but also a global serious situation."
http://www.handelsblatt.com/politik/konjunktur-nachrichten/trichet-inter...
I guess trying to herd the Euro sheep into the Dollar pen didn't quite work out as the barbarous relic gained instead. Wonder what's next on the plan
I'm past the point of tolerance and ready to Bomb Smart.
Another V-Bottom...
Let's go out to The Hamptons next weekend so we can screw....
And yes, my breasts are rather extraordinary...
You know, I've never seen that particular hand configuration before. When I looked at the picture, with that particular vantage point, with that particular babe, it flashed into my reptilian brain: spread legs and a hole. Am I alone in this?
Why is this blonde bitch giving me the peace sign?
you have embarrassed me a bit.
isn't it a V†
† not a peace sign.
they both look and feel good to me.
velobabe, would you like to be my zerohedge girlfriend?
well, as i have said to another here.
.......................................i am really, maid marion†
plus, she sleeps with a dagger.
and certainly not monogamous..............................†
I understand velobabe. I will move on...
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7730964/Forget-the-wolf-pack-the-ongoing-euro-crisis-was-caused-by-EMU.html
Ground coming up quickly now. Main chute mangled, backup chute tangled, not usable. 3 2 1 SPLAT
November incumbent bloodbath. Let's chant this mantra all summer.
Santelli's showing no signs of letting up,
http://www.cnbc.com/id/15840232?video=1496302506&play=1
If you control the world it's okay that the Euro is falling, that's what you wanted all along. Better for European exports and a stronger dollar tends to crush commodities like oil. However, you like things to occur somewhat gradually, no dislocations. Easy does it. The Wizards will step in when things begin to come unglued.
What a farce. This will not end until the peasants have had enough "cake", and decide to storm the Bastile.
So at last the evildoers (investment banks and hedgies) have all of us right where they want us. All they have to do is buy down the Euro every day while hedging to the upside, wait for the CB panic attack and wind it back up. Taking both sides, it looks like they could do 5% or better on essentially infinite volume.
Down days???? HAH! Those are for taxpayers losers.
Dear Tokyo
If you hated it at 1.235, you'll love it at 1.24...
Love and sloppy kisses -
Bermonkey
I'd really like it at 1.2260. Hell, I'd take it at 1.2300.
God Dammit! I shorted 70 lots of the EUR/USD at 1.2265. I am so fucked, Fuck! I don't wanna close out because I'll have lost 1/8 of my account holdings but I feel like I should take the hit and move on. You know, take the hit and put it behind me but I can't bring myself to pull the trigger. I see a possible bearish correction on the 30 minute chart (MACD corssover).
Someone without any steak in the game, please help me out. I know I made a rookie mistake and I'm an amateur and I'm stupid, ect but someone help me get out of this. I just wanted to ride the wave down and there was no support until 1.20, so wtf happened!!?!?!
Gold moved like silver today. Bottom dropped; bounce, and picked back up like jaxx. Swap Line while no one is looking. Green chute open.
Risk. Management.
It's just money... you'll be fine.
Yeah, thanks guys. You really aren't helping. Apostate, I'm gonna kick you in the nuts and send you to hell myself.
HA HA HA HA; i really like you man since i long admire all that is related to Cartman.
PS. Use options when managing risk; if you are going long [1-6 months] i advise you to use European options [lower the cost] to hedge your trade.
Most people who are trading 5 lots should be trading one. Apply formula to whatever level of overtrading you like.
Yes, I know. I let emotions take control. It's like it wasn't me. I couldn't help it. I was premature. It happens to me sometimes. Like it bed, I get a little too excited and pop, premature. Well this time I didn't just disappoint my partner, I disappointed myself too!
Should I slowly de-leverage or just take the hit head on? C'mon, someone help me. I'm drowning.
You're between markets. If you can hold out another hour why not wait and see what Tokyo does?
I'd get out but Tokyo's opening might give you a more graceful exit. Of course, if it starts going up you'd have to get out RIGHT THEN.
Don't know if a few more pips up or down is gonna make a difference to you...
That's good advice. Asian markets do like to beat the Euro up a little. At the very least, it may help to limit my loss.
I can risk a few more pips. Solid advice. Thank you!
asian central banks were sellers of bunds this morning (ldn time) and i pressume of the ccy to. Eur ccy is going down...its just a question of speed from here. The problems are only compounded by this fake bailout.
PS: I presume you've already made a full list of your mistakes. :-)
So all I'm gonna add is, forgive yourself NOW, ahead of time, for if you wind up taking a big loss. It's called tuition, and we all pay it to get our education; just make the lesson worth the price!
And if you see the candles going against you, bail, and poof THEN the trade turns around, make the decision that you'll forgive yourself for doing the right thing even if it got the wrong result.
(It's usually the right thing to bail the trade when you can see that wishin' & hopin' are becoming part of the trading strategy...)
I hate to say it but lots of times the most feedback you'll get here is jokes and/or something along the lines of 'whyaya askin US?' :-)
My feeling is, there's a lot of frustration because NO-ONE, not even the analysts who have been doing this for years, can call it. Fundamental, technicals, and industry report don't matter in this market with 100-pip 'whipsaws'. It's a pissing contest right now between the world's biggest fattest 'players'. I try to grab a few pips here & there, like snatching up the crumbs that fall from the table, and just stay out of their way until the brawl is over. (And see who gets carried out on the stretcher first.)
Couldn't agree more. I knew I was in trouble when I was just watching the 5 minute charts and blindly staring at the candlestick as it moved up and down with no plan other than crossing my fingers and hoping for a few long red bars.
Thanks again for your advice. I think I've learned my lesson on this one.
well there's no way in hell, i am going to be your ZH gf.
i R E A L L Y hate when that happens. sounds like your just a tad to young for me anyways. but i will flirt with you†
Well Oh Babe,
You are Ms. Creant make this site fun in a waaaaay beyond interesting way.
Refreshing relief!
Awesome!
lol. Damn, I was hoping you'd miss my desperate plea's for help.
best answer for short sex is more practice. Hand practice before the big event.
Glad i am past that stage, whew!
BTW, take the loss and put it behind you. OH yea, Relax. life is short and you should be glad you have the life you got, screw the money.
They step in on technical lows and buy them up. Once they use the first $1T up, they will us another & another until they slowly reach a balance. Money meant for bonds simply goes to the technical play long enough to for it to bounce then they buy a few bonds as needed.
It also will help to watch the short action and trade on the other side of the put to call ratio.
Euro still goes much lower and on the other side of that action, China is next..
http://bit.ly/1ax9Pw
& there goes the baltic dry and there goes the CRB and once again Deflation is back on for another 6 months or so.
OKay, that makes sense. I mean it didn't really move that much, it was just my own ignorance that caused me to buy so many lots. By the way, the charting website you linked to is amazing. Do you use this as your main charting program? Right now I've been using stockcharts.com and paying for their Extra membership which is around $25 and if you subscribe for free, this site is basically the same!
I'm glad you introduced me to this!
$CRB index, chart...
http://www.barchart.com/charts/stocks/$CRB
I like the CCI better, much broader and balanced Commodity index, and the 2 year chart...
https://www.theice.com/productguide/ProductDetails.shtml?specId=34
Could it be the Euro is simply having an oversold rally? Are the CBs a bunch of latte fueled day-traders? What if they lose? Is it sustainable? What happens when they spend all that money to jack it up to 1.40 and it gets shorted back to 1.10?
DXY creeping back up again & AUD/USD retreating
Yes, EURUSD buying support is increasingly obvious on the charts and this can cause a choppy, volatile trend.
http://www.zerohedge.com/forum/latest-market-outlook-1
http://stockmarket618.wordpress.com
EURUSD / EURJPY continues to show buying support on intra day chart.
EURGBP daily chart gives mild bullish warnings.
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
Someone is taking the ECB on as there's alot of buying for not much traction