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The New Dollar Normal
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What a USD/CAD short entry gift that was!!!
No kidding - see the TSX this afternoon?
These days there is no point even holding a position in NY session... you would get doubl penetrated big time !
Take GBP/JPY for example, almost 100+ pip drops in the Asian session start reversing when the NY boys come to play.
Safe haven currency is confused.
Bernanke had to push the "BUY EVERYTHING" red button today.
I imagine the forex leverage murdered some accounts there
I just made about $5k on that swing back up to Fib50 area euro/usd...
dollar is dead....
The fictional WOPR: "(pronounced "Whopper") is a fictional military computer featured in the movie WarGames (1983). It is acronym for War Operation Plan Respons
>hat tip to: finance news & finance opinions...http://www...
With spikes like that, let's call him Ben the Impaler...
When they make such radical moves like this something eventually has to give, or the S&P will go to something like 5000 in the next 6 months.
If it does, Ben & GS are going to be the only stockholders left.
But then, maybe they are already.
What a mess. With moves like these will Ben be able to defend the dollar given that QE will end in Oct?
If the dollar continue to drop or have spike like this, we're going to see some a lot more pain in the near future.
Nice article about the $200 back to school give-away in NYC today.
"Thank God for Obama. He's looking out for us."
Read more: http://www.nydailynews.com/money/2009/08/12/2009-08-12_billionaire_feds_give_out_175m_to_aid_neediest_students_around_the_state_its_fre.html#ixzz0Nztvji3Ocan us say Black Swan?
WTF was that? A forced cover?
It's called the euro wants to go down but we are not going to let it trade.
Could not agree more. The Euro is awful even compared to the dollar and this levitation act is really amazing.
"The Euro is awful even compared to the dollar and this levitation act is really amazing."
Yes good manipulation by the powers that be in the CB
You are touching on my gut feeling. Since bond, fx and interest rates are joined at the hip worldwide; and everyone of note is playing along (collusion), then levers and buttons are feverishly employed to "keep the balloon afloat".
I extend my sympathies to money managers who try to earn a living in this environ........truly a heartburn effort.
From some perspectives, it really is an awful period.
For cheeky b.......seek nirvana and leave the "world" behind. Beer works too:)
NEW YORK (MarketWatch) -- US stocks lightly shaved strong Wednesday gains after the Federal Reserve said it would keep interest rates low for an extended period, and slow its purchases of long-term Treasurys."
And it's up, so.. it takes around 30 min to program new instructions into the HAL9000, ouch that might hurt (one day.)
No, 30 minutes was the pre-programmed pause before the command got initiated. The programming to HAL9000 was done overnight based on the same programming Bensimo was subjected to earlier.
So you are saying no one cares a black suitcase with the nuclear trigger anymore.. ingenious.
Do they need to? Seems like nuclear weapons have been made obsolete by weapons of economic destruction.
Seems like we'll be fighting some form of cyberdyne in the future. So will we see terminators in our future? I think not, should be a lot easier to send a electronic signal back in time than a whole expensive robot, and just sap Sarah Connor's bank account and credit so she can't afford the delivery.
that's not what I meant.
Seems the robot QC does not carry .... briefcases with on/off switch anymore.
I figured they had to reboot.
I only forex at night when US markets are closed and HBB and TTT are asleep.
4pm-6am onry.
Is that a typo or an asian joke?
Either way, I keep the same hours. Get my entry in tokyo, got o sleep and hopefully get my limit in London. Gets me out of bed every morning.
I got it Gilgamesh and it was funny!
Dollar short squeeze on an FOMC release??? No way!
Dollar short squeeze on an FOMC release??? No way!
This kind of market volatility (violence) makes me think some of the bigger boys are going to the mattresses. This doesn't happen when things are "all good". Big institutions are starting to get aggressive with each other.
may as well...you and i are here to backstop them
Imagine the selloff we should see the next time the DEA/Coast guard intercept one of those Columbian subs. Theyre probably having a hard time keeping up with demand as is.
>hat tip to: finance news & finance opinions...http://www...
I agree.
Institutions bought in at March and helped run it up. Then a few got sucked in to this after the failed H&S.
Now they are starting to unwind, and those that bought into this are likely to regret it. Basically, some of the pros f'ed up.
...And that's what makes new lows, folks!
Wacky waving inflatable arm flailing currency!
Wacky waving inflatable arm flailing currency!
Wacky waving inflatable arm flailing currency!
http://www.youtube.com/watch?v=onZHpGYFPls
Isn't this what happens to all banana republic currencies?
Right, the US Dollar.
Don't turn your back to the sea. Rogue waves rampant.
Who ordered the Code Red?!?!?!!?
Col. Nathan R Jessup
You're god damn right I ordered the Code Red!!!
-GS
Now I understand why they make time-release Cialis.
lol
My name is timmah geitner.
The Bears call me the frightner.
I use only imaginary numbers in my accounting.
I still can't sell my house.
The chinese keep saying I'm a louse.
Timmah. Tim tim tim timaaahhh.
Hellllo Madness...x
Timmy finally figures out how to sell his house for $1.63m, a mere 30k over the price he paid.
Here's how:
1. timmy securitizes his house and creates a MBS,
2. Timmy calls Moody's to get a AAA ratings on the security,
3. Timmy calls his buddy in GS to buy the security and then calls the NY Fed to grant TALF, PPIP or whatever acron---you prefer
Com'on Timmy, face the fact and sell at a loss now. Take the 700,000k loss penalty like a Secretary of Treasury.
LOL
Banana Republic currency in a basket of rotton banana rupublic currencies. The US OF A, still is the Gorilla in the room. What what happens in the next year.
You guys got it all wrong...this was just an afternoon Wall Street crack-binge! They huff some rocks, get all crazy and buy everything in sight...the crack runs out...they need cash for more rock...SELL SELL SELL! The bridge and tunnel crowd is gearing up for a big night.
Dollar typically rallies into refunded and then takes a crap on itself.
"I scoff at your useless protective stop orders," you stupid English Kah-nig-ehtt
Dollar typically rallies into refunding and then takes a crap on itself.
I knew someone would eventually let Leeroy Jenkins on the trading floor.
http://www.youtube.com/watch?v=LkCNJRfSZBU
Uh that was intense.
Thank god I never played DnD.
Nerds.
Did I used to work on a forex bucketshop desk with you? We used to watch that all the time lol.
This looks awfully familiar to last summer. SPY peaked August 11, 2008 at 131.51 to end the summer rally. Market went sideways into September and then, well you know...
They fixed the computers since then, now they only allow buy orders
Yes, perfect answer and maybe the best one so far.
:)
http://globaleconomicanalysis.blogspot.com/2009/08/prechter-sees-major-d...
"The Dollar Sentiment Index for the Dollar Index reports just 3% bulls among traders, an extreme level only five times in the past 20 years, usually near an important low," Prechter wrote on Aug. 5. "The last time we saw readings like this was March-July 2008, just before the dollar soared." In other words, the "short the dollar" trade is overly crowded."
short the stock market
Head & Shoulders Top on the S&P 500 hourly chart
I do not disagree, but of course with Ben selling bonds to wall street whoand then buys them back at a loss so they can invest in the market you do not know what is going to happen. It's all part of his plan to tank the dollar and cause inflation under the cloak of helping the economy.
Someone was betting against the USD before the Fed announcement and got raked. Then the market realized there's a whole lot more of MBS to purchase before it possibly gets renewed again in 2010.
DOH! Homer Simpson would be proud.
The Commitment of traders data showed commercials
having the biggest short position in DXY since July 08.
That made em vulnerable to fading.
And that took 20 minutes to get through the computer system with a 2 point spike in price?
hey .... Bernanke only said he'd stop buying US Treasuries , nothing about continued USD manipulation ......
The FED policy is destroying the USD, slowly but surely
If the Chinese are going to like that, is the other question.
they have written the art of war 2400 years ago. you do the math
Just getting all the dollar longs to cover, and the dollar shorts excited.
This isn't new. Last fridays nonfarm was way more confusing and volatile than this..
Dollar Up Market Down soon...
i agree
If you anything, they actually use the cusip to track you down, come to your house, drag you out of your bed......then you just disappear
>hat tip to: finance news & finance opinions...http://www...
coffee is for closers
What's your name?
Quick question from an amateur "week trader": what is available to bet the US dollar long, etf or fund, that doesn't rebalance everyday so that I have to be trading it daily? Also low fee.
Thks
Just Curious
uup.
ticker UUP
Try Dollar PowerShares ETF UUP.
Whatta head fake.
what most of you don't seem to understand is that the government wants a weak dollar...
If the government want a weaker dollar then it would not have announced that it will stop QE.
The big question is is it enough to stop the dollar slide?
qualitative easing is just something for financial types to gossip about... it has no effect on anything.
Oh my gosh thank you for all of us!!
What you don't seem to understand is all countries want their currencies weak, so their exports are "tasty". So our bag-holders China, Saudis, etc. won't let us just devalue without letting us know their displeasure and won't support our heroin habit of needing evermore borrowing.
Wanting a weak dollar and getting it are two different things.
"Wanting a weak dollar and getting it are two different things."
Oh my gosh!!!! really???!?!??!
that's an obvious, non-statement. do you have a point?
i'll make a point, pay attention you might learn something about effective communication, although the government wants a weak dollar they won't get it. despite their best efforts the dollar will go up and in general remain strong...
Wrong! The US is trying to avoid a weak currency. China is trying to prevent the US currency from devaluing. As soon as China stops buying Treasuries, the USD will plummet. Make no mistake, China is not investing the the US, it is simply a matter of maximizing their export returns.
The US has a large trade deficit, and it will be crippled if imports get more expensive. You have no idea what you are talking about because as the USD has gotten weaker and weaker credit has been made more readily available to take it's place.
The only countries that want a weak currency are export countries that do not value a high standard of living.
Stop running 40 tons of gold sales through forex every month all over the world. You'll have a weak dollar in 2 weeks.
Everyday i say i thought i had seen it all. Does anyone belive any of these markets are true? This is like walking into a saloon by yourself and sitting down to play poker with jesse james and his entire gang.
would someone explain tylers quote.
the reason ben extended the program is to drop the dollar. While trading today saw what I thought was profit taking and that's what explained the moves. that's why I actually bought at the drop. there is no such thing as buy and hold anymore. the big guys buy, drive up the price, get folks to join in and then sell undereath. I hate this!!
Give us the link so we understand the context of the quote.
good - they want you to hate this market. They dont want little speculators piling in and out. They intend to control it.
You gotta do what you gotta do.
I have to wonder why they're continuing to monetize the short and intermediate term treasuries.
For QE to work, they have to buy the 10 year notes because mortgage rates are indexed on the TNX. But instead they end up buying a whole bunch of 3, 5, 7, and some 10 year notes. That does nothing to lower the TNX.
Do these short and intermediate term notes need propping up?
Wonder if they will print their way out of this?
Harry Markopolos: CDS Fraud Will Make Madoff Look “Small-Time
http://tinyurl.com/oosew3
Chart caption: "Is that a QE in your pocket or are you just happy to see me?"
Hah! Denninger must have been thinking of you...
From TMT:
"Updated: NAILED IT. Q/E to be exited in October, NO INCREASE IN SIZE. The Dollar sported wood immediately."
A smart US trader told me that he believes the S&P will move above
1000 in this rally, so until now, I didn't short this rebound and of course
>hat tip to: finance news & finance opinions...http://www...
I think that was a flying finger technical formation.
It was a signal to those shorting the DXY to bend over and wait.
Yeah, seems like they gave up on the subtleties and figured they'd issue a message even our average Joe will understand
long parsnips
That was Prechter buying the top today!
34707...that was pretty good! kudos!
It looked like the risk trade was back on in FX world.