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FX Intervention Fright Night?
Whoooosh... or just another DXY flash crash? If this was indeed a BoJ intervention, it is the worst money spent by a central bank in the history of Keynesianism, with a half life of less than 30 minutes. Elsewhere, gold is predictably nearing its all time highs.
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I just saw that! Wow that busted through 77 like a hot knife through butter.
76.14 Is where the dam brakes and that IS coming soon!
It's almost like the flash crashes are designed to blow out sell stops of leveraged price chasers. Terrorize the small traders, shake the weak hands out of the market, then CORNER IT!!
BOJ intervention bitches!!!
Birkenstock Ben will not accept this childish show of rebellion. Suing Toyota for defects is only the beginning........
silver @ new hi s;
Gold is going down... unless my monitor is upside down.
?
The Iran news was a gift and a harbinger to sell HARD
/facepalm
Gold is down 2 points right now ... after going up around 16 on Friday.
2 points of movement doesn't even qualify as "going down." That's just normal low-level Brownian motion.
up almost 50 bucks from the low last week, too. i did predict "gold up 50" on SA. but that was on monday. i'm giving myself a "ruling in the sand trap allowing for a free drop" to say "yes, i was right because the referee said i was."
Wow..
You predicted something. You are like...Nostradamus or something right?
Like... you are part of the uhm, Illuminati or something?
You really have got the pulse on gold.
How bout 18 months from right now?
Silver is on a rocket ride....
You remind me of the guy at the race track waving around that winning ticket.
Ankle deep in losers.
BoJ is scared sushiless of the USDJPY dropping below 79.60. Below that it's unknown territory and it will kill Japanese exports. Lemme rephrase: Take Japanese exports off life support.
And for that reason alone, there might be further currency intervention coming along the line. And for this reason, there will be people trying to make this exact thing happen.
There's a reason market interventions rarely work out.
Gold is always behind DXY.
DJ says the MoF denies intervention. I suppose they would have claimed responsibility if it had actually worked.
Big jump Dollar Swissie too. More like a big burp, and now the distrubed air is gone.
I'm going to party like its 1894.
Soon, we'll party like it's 1929.
its pretty obvious Fed's Owners have turned the Fed into an Enron entity; and they when they exited the building and they left the the floor polishers and night watchman (gietner, bernanke etal) holding down the fort
it was like when Argentina went down; you knew that GS and JPM were loading the brinks trucks with bullion and bearer bonds and documents nights before the crash; getting out of Dodge south American style
nah just another stophunt. retail chumps you are not welcome in this market, leave the smart people with even smarter robots to cannibalize each other.
LOL, true. I got stopped out on my EURUSD trade just yet. 1.3940 just didn't cut it.
agreed
Or the Franz Ferdinand moment for the upcoming war of currencies.
...the shot that started it all.
I'll go with that. Sure as fuck hit mine.
Sun Tzu says "good generals destroy with canon but great one's destroy with a feather."
Arrrrsooo'
:D
bye bye DXY!!!
wrong
The more I see this kind of stuff, the sooner I'm pulling all my money out of the financial markets and investing it in a lobster farm, even if it's in Kansas.
we had another flash on 10/15 after 1600 hrs. very rare to see these types of anomolies in the f/x markets.
just heard someone on tv bragging recently that fx markets were safe and flash crashes did not happen
Didn't someone in BoJ say recently that FX intervention works best when it's a surprise? Yet another theory going down in flames. Of course, they will probably argue that it didn't work because it wasn't big enough.
haHa! Where's Krugman?
Just buy gold and silver and be done with it.
Check, and double check. Diversifying tomorrow in some more lead.
+++++
Anyone who has a reason to think about the future could do worse than not taking Rocky's advice 100%...
Au, Ag, Pt as well as Pb (and lead delivery systems) is always fashionable advice from us who hide behind rocks...
Please can we put things into perspective? Someone sold a whole lot of yen at the open of the Tokyo stock exchange. Maybe they were front-running the Japanese and Chinese data and they sold a position that required liquidation of a load of yen. Not a boatload of yen, as would be expected had the Bank of Japan actually intervened.
The spike in the chart above was on another M1 chart- but it is indeed real because the retracement is several candles in duration. Eighty pips is not a giant move and, in fact, the spike didn't close most of the gaps on the open, though the rumble was felt in all major pairs.
The question is, what was that rumble about?
On that thought, how wild do you expect this week to be? The election should prove ot be interesting and then the main event from the FOMC.
Off the chain.
If I were to lose my mind and trade this news, I would bet that the extreme levels in the Euro and the Ozzie Dollar are in for some kind of correction.
The AUDUSD pair still has a gap to fill at 0.9265. I'll meet you there and we can have tea.
:D
You guys keep the racket down. I just lost count on my silver eagles.
Gotta start over again.... one, two, three...
Wass'yer werd, Rock?
Say, is that a new ZeroHedge symbol I'm seeing in the explorer bar? On the homepage only...
All that FX talk is distracting. I only deal in REAL money.
passing out candy to kids and thinking the scariest thing for these kids is the government and corrupt leadership;
this crap has to stop
Exactly what I'm doing but I think there are things even worse coming up.
The trick or treaters are so sweet and adorable at our house tonight. All polite, thank yous, introducing themselves and explaining their costumes.
They deserve so much better than the future looming. When will we start to really push back on the TPTB? It is our responsibility!!!
Well, ya know, those old horror stories about people giving kids poisoned candy and other fatal items embedded in fruit have stopped. Those were not the good old days.
Since the complaint against JPM and HSBC, have you noticed that silver never goes down?
What about Oct 19 and Oct 21? Massive raids. Nearly scared me to incontinence. :(
pre-g20 shank, happens every time.
Everyone knows we are toast...
Just another Bot running stops. Caveat Emptor. In cash w/ popcorn for another 72 hours or so...
Large traders have started going to cash but made one last ramp on equity futures:
http://finviz.com/futures_charts.ashx?t=DX
http://finviz.com/futures_charts.ashx?t=YM
They've also been ringing the cash register on gold and silver futures:
http://finviz.com/futures_charts.ashx?t=GC
http://finviz.com/futures_charts.ashx?t=SI
Algos and HFT are causing flash crash in FX market? I very much doubt it - FX is $4tr a day market, much bigger than the focus here which is the equities market. Well over 50% FX still traded OTC. But I agree the Fed has a plan and they are good at communicating it to the big banks (who control the OTC market). Makes sense?
All your interventions are belong to us... make your time...
My bet is China, hedging something somewhere...
Just sayin
Already in stone. The day is here. It starts on 11/3. If you do not own farm land of have an escape route, the containment camps are for you. Get off the grid asap!
do you have a source for this? or is this just a wild guess
He has nothing. Clearly, team misinformation is saturating the board. Why? The FX manipulation is key to an entire market reversal. So forget what is going on, and never mind your charts. Tonight, the gig is the establisment of expectations....fasle expectations.
As for that, the dollar is WAY overdue for a correction. The fact that the Euro is where it is laughable.
the inexorable pull of gross trade imbalance is going to drag those reserves out of the closet; there's nothing that can stop this forever.
ooooo. now THIS is Halloween scary indeed.
A flash crash here, a flash crash there....markets are getting rocky!
The more they try these spook tactics the more they risk spooking people out of the trades they want to favor.
Shots across the bow are being fired in the currency wars. Things are intensifying.
"flash crash here, a flash crash there....markets are getting rocky! "
Old MacDonald had a farm
e i e i o
And on his farm he had an Algo
e i e i o
And a flash crash here, a flash crash there, here a crash, there a crash everywhere a crash crash...
Old MacDonald had a farm
e i e i o
SPX futures are on fire tonight. Looks like some people are taking on some risky leverage for Wed.
Kinda like Tyler's Varnish server. <rimshot>
DX futures are so illiquid, you can practically push the price just by thinking about moving your stops. It's a clown market.
China numbers blew past expectations. This is what our market focuses on now. Last week was just the lull before what I believe will be a huge rally on Fed announcement.
Most people agree......
Silver sitting at $25 and gold loitering at 1364. Not a bad way to start hell week.
made an easy 40k on that. love those odd hour Yen interventions.
Failed BOJ intervention? Maybe not:
Conventional wisdom is that the BOJ comes along, sells a truckload of yen, goes away, and sooner or later the price bobs right back up again. Conventional wisdom says the BOJ is basically dumb money, helpless against speculative predators.
But, what if the BOJ has turned predator, deciding to TRADE the currency down over time instead of blindly trying to push it down in fits and starts? Deception and ambush instead of mass confrontation?
Maybe the real story is that the BOJ loaded up on a long USDJPY position over the last few days and then at 8PM EST (relatively low liquidity) dumped a big chunk to clean the order books in an instant, pushing spot up to a large pool of stops in the 81+ area, then offset their entire position in the pool. If they finally got help from someone who knew what they were doing, they could have HARVESTED A VERY LARGE POOL OF STOPS in that area. Maybe what they did was a huge success and now they're sitting on a ton of cash just from that one play. They could use similar tactics again and again.
And, over time use the proceeds to finance a steady downward push on the yen.
BOJ turned predator?
Chart analysis of every FX pair versus the dollar on 3 time frames.
My hand notes, and rational basis for choices are in the attached pictures.
I looked at all the major forex pairs compared to the USD.
Results were startling. For all 24 Pairs
Short Term Medium Long (over 2 years)
Bullish 17 13 10
for USD
Bearish 0 7 7
Neutral, or 7 4 6
No Data
Then I looked at my off the cuff, Major trading partners, and I included CHF Swiss Franc.
Short Term Medium Long (over 2 years)
Bullish 7 7 5
for USD
Bearish 0 0 2
http://oahutrading.blogspot.com/
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