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EUR Erases ECB Gains, Yen Does Its Own Thing

Submitted by Tyler Durden on 05/02/2013 09:02 -0400

Must to the chagrin of our algorithmic friends, no matter how hard they try this morning, the JPY-carry-based momentum ignition is not sparking sustainable gains in US equity futures. EURUSD has about faced from its post-ECB gains and is unch; S&P 500 futures have followed EURUSD's path and are also unchanged now from the ECB decision; but JPY, in a world of its own has smashed 130 pips lower (up to 98.40)...

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Thu, 05/02/2013 - 09:04 | 3521841 Lets_Eat_Ben

RISK ON!

Thu, 05/02/2013 - 09:05 | 3521845 kaa1016

All I can say is what the fuck are markets doing this morning. Might that be the final blowoff to the upside? If so, time to buy more puts.

Thu, 05/02/2013 - 09:11 | 3521864 kindape

sure - havent missed an expiry month buyin puts since Sep 2009. gotta keep the streak going!

Thu, 05/02/2013 - 09:14 | 3521878 Stoploss

Forex Traders: All your Forex are going wong way..

Thu, 05/02/2013 - 09:21 | 3521911 Edward Fiatski

They're going the right way. :)

Especially in the EUR after the stop run on bad news from 1.3070 a few days ago.

Funny thing to see USD/Yen being sold off after reaching 98.38 moments ago on very good U.S. data - must be European contagion, as we're being fist-fucked here.

Thu, 05/02/2013 - 09:07 | 3521852 Dollar Bill Hiccup

USDJPY, truly WTF ...

And whoops, there goes EURUSD.

The Germans were on Draghi's headset saying, Achtung baby, kill this thing now!

Thu, 05/02/2013 - 09:08 | 3521854 bnbdnb

New money at 10. Just wait.

Thu, 05/02/2013 - 09:10 | 3521859 Cursive

Again, how does molecool or anyone else sucessfully trade this chop?

Thu, 05/02/2013 - 09:11 | 3521863 Bold Eagle

I see the elevator formation.

Thu, 05/02/2013 - 09:13 | 3521873 Awakened Sheeple

I'm out, the hell with this. Popcorn time.

Thu, 05/02/2013 - 09:18 | 3521893 Tsar Pointless

I half expect to see the word "TILT" on my screen whenever I check out any so-called "marrket" action.

Seriously - they're all broken. Not a single unmolested market remains thanks to all of this chicanery.

I don't trade it. Never have. I just watch it for fun. Some people dig sports. THIS is my favorite pasttime.

Thu, 05/02/2013 - 10:14 | 3521992 WTF_247

This will not matter. Odds are almost 100% they take out the overnight highs. The algos are stuck on strong buy all the time. Any and all headlines are automatic buy. If you notice we never have sideways days - ever. Its straight up 90% of the time with an occasional (1 day) selloff. Next day resume buying. I am not even sure why they sell in the first place if your just gonna undo it the very next morning.

Futures already up 9, we will see +12 to +14 by eod at this rate. The pattern has been to undo 100% of any selling the next day. There have only been 2 instances in the last 5 months where that has not occurred. All chart patterns become bullish after any sell day - breakdown, double top, engulfing bear - all of them. Often those are a spark for new all time highs. Only select names actually continue to get hit.

Thu, 05/02/2013 - 10:01 | 3522104 unwashedmass

tip for those who trade....

the power banks slam down the gold shares the day before a smash down on gold.

slam down on shares in progress.

so if you are thinking of buying the hard stuff.....tomorrow is the day, it seems.

what's interesting is that this move is now so regular and so transparent that it is tracked by various gold sites, and gets the headlines in harvey organ's pieces.

so, if you know somewhere you can buy the hard stuff and get actual delivery. tomorrow appears to be lining up as another bargain day.

courtesy of the Fed and JPM.

Thu, 05/02/2013 - 11:40 | 3522619 JJ McApe

dayum only to 0.5 i thought he would go low as 0.25. but i am sure super mario will do this in a couple of months. even if it will help nothing!!!

such a pussay!

EUR Erases ECB Gains, Yen Does Its Own Thing

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