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EURUSD Opens Gap Down To 1.3598

Tyler Durden's picture




 

If there is one currency which can move almost 1000 pips lower in 10 days, the EUR it is. After Chinabot gave up on supporting the broken currency, whose viability is only better to the even more doomed US Dollar, but not before an epic run to safety sends the USD into a Volkswagen-like historic short squeeze, and after Goldman openly called for QE from the ECB (and not just the EFSF monetization foreplay which now looks like it may not even pass) the currency has taken out pretty much all support levels, and at the current rate may tumble to sub 1.30 in the next 72 hours. Gold opens in less than 2 hours: the latest response to the flight from fiat should be amusing.

 

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Sun, 09/11/2011 - 16:29 | 1657135 GeneMarchbanks
GeneMarchbanks's picture

TIMBRRRRR!

Sun, 09/11/2011 - 16:34 | 1657155 CClarity
CClarity's picture

For the reams of paper that will also be required to file all the lawsuits that ensue.

 

Sun, 09/11/2011 - 16:53 | 1657228 Highrev
Highrev's picture

 

 

 

ZeroHedge

Predicting what WILL happen.

 

ROFLMAO

Sun, 09/11/2011 - 17:01 | 1657257 BaBaBouy
BaBaBouy's picture

Euro should be fixed @ 1 TO 1 with the USD, I.E. they are both Fiat Crapola...

Sun, 09/11/2011 - 17:04 | 1657265 BaBaBouy
BaBaBouy's picture

Tzee Greeks are Birthing a brand new property surtax.

Yep, That'll surely fix things...

 

Greece imposes new property tax to plug shortfall Greece announces new property tax to contain 2011 deficit, says can achieve 2012 surplus

http://finance.yahoo.com/news/Greece-imposes-new-property-apf-3508988822...

Sun, 09/11/2011 - 21:33 | 1658187 TruthInSunshine
TruthInSunshine's picture

The EUR will be at par with the USD within three months - assuming it isn't dissolved altogether well before then (and for those who think the dissolution of the EUR isn't a very strong possibility, I suggest you hone your analaytical skills).

The only way that the Eurozone is saved is by massive dilution of the EUR through the kind of manic printing that will make even The Bernank (aka Sir Print-A-Lot) green with envy, but Germany is not likely to go along with this plan, as it a) dramatically reduces purchasing power of Germans, b) wipes out the savings and retirement accounts of Germans and union members (unions are very strong in Germany), c) a weak EUR doesn't help Germany as much as it would have in the past as Germany now already outsources much of its manufacturing to eastern europe, the U.S. and Mexico, d) it forces current and at least one future generation of Germans (and maybe two future generations) to accept a materially lower standard of living as Germany is stretched thin in supporting the basket case welfare states that form the overwhelming majority of the EU member states.

This is the moment of reality for the EU. It either ends now, with Germans denying their politicians and policy makers the ability to sell Germans into indentured servitude, or two or three generations of Germans are sacrificed on the alter of irrationality in order to kick the can further down the street in attempting to prop up an inherently and fatally flawed experiment for a few more months/years at best.

Sun, 09/11/2011 - 17:07 | 1657278 CrankItTo11
CrankItTo11's picture

Soon, all fiat currencies will be fixed together ... at zero.

Sun, 09/11/2011 - 17:11 | 1657291 Fish Gone Bad
Fish Gone Bad's picture

That is so sad... because its true.

Sun, 09/11/2011 - 17:20 | 1657331 falak pema
falak pema's picture

well if USd= Euro = Zero, problems solved. Greece has NO debt. The Pigs don't get slaughtered. Brilliant solution. No debts but all deads. We will all die debt free and full of PM which we can't eat.

Sun, 09/11/2011 - 17:51 | 1657448 Id fight Gandhi
Id fight Gandhi's picture

A moment of silence for all the trees that fell to make this possible.

Sun, 09/11/2011 - 19:29 | 1657842 Ahmeexnal
Ahmeexnal's picture

Quantum financial energy drop.

The energy gap means one and only one thing: the system has emitted a drachma.

Sun, 09/11/2011 - 19:55 | 1657920 WmMcK
WmMcK's picture

And a tachyon ( a sub-atomic particle devoid of good taste).

Sun, 09/11/2011 - 17:10 | 1657288 CrankItTo11
CrankItTo11's picture

TIMBRRRRR!

That's because they're chopping down more trees so they have more paper to print their "money" on, right?

Sun, 09/11/2011 - 17:29 | 1657367 GeneMarchbanks
GeneMarchbanks's picture

It sure is, friend. It sure is. An eye for subtlety you have;)

Sun, 09/11/2011 - 19:36 | 1657868 Ahmeexnal
Ahmeexnal's picture

They should just make polymer banknotes like Australia.

Sun, 09/11/2011 - 17:48 | 1657432 bob_dabolina
bob_dabolina's picture

I think you mean they are planting cotton. 

Money is made out of cotton, not paper. 

Sun, 09/11/2011 - 18:47 | 1657683 jerry_theking_lawler
jerry_theking_lawler's picture

actually.....

"paper" money is made from cotton/linen blend...

Sun, 09/11/2011 - 17:51 | 1657444 Long-John-Silver
Long-John-Silver's picture

Most of the money created is in digital files. There is not enough room left on the planet to stack physical paper "money".

Sun, 09/11/2011 - 17:10 | 1657289 been there done that
been there done that's picture

So a falling Euro is usally negative for US stocks? can't wait to see futures as I am holding short over weekend.

Sun, 09/11/2011 - 16:30 | 1657138 Flore
Flore's picture

your ransquawk news ticker isn't working for days in a row now

Sun, 09/11/2011 - 17:01 | 1657255 Jasper M
Jasper M's picture

You say that lie it's a bad thing. 

Sun, 09/11/2011 - 16:30 | 1657140 HedgeFun
HedgeFun's picture

You are correct sir.  I own lots of Timber for the paper printing bonanza

Sun, 09/11/2011 - 16:31 | 1657144 CClarity
CClarity's picture

That's the sound of European printing  presses reving up.  Could we see 1.20 by month end?

Sun, 09/11/2011 - 16:39 | 1657170 DeadFred
DeadFred's picture

1.30 by the end of the week, 1.40 by the end of the month. You're forgeting about Uncle Ben and his magic money machine.

Sun, 09/11/2011 - 16:45 | 1657204 CClarity
CClarity's picture

Much to Ben's dismay, the US$ will continue to appreciate until OPEC announces it wants partial payment in gold.  Then fiats go crazy and Greece's 1 yr rates of 100% look normal.  Just saying . . . 

Sun, 09/11/2011 - 16:52 | 1657223 Spitzer
Spitzer's picture

A run from a currency with no trade deficit to one with a 50 billion a month trade deficit. That sure makes sense.

Common sense seems to be winning out since the US debt downgrade.

I was 96% gold stocks and 4% short CAD financials. Made 7.53%

$ bulls are being led to the slaughter house.

Sun, 09/11/2011 - 17:15 | 1657307 DeadFred
DeadFred's picture

I'm thinking the dollar chart is going to print this spike up then down that will stand out like an obscene monument to this period in history for years to come.

Sun, 09/11/2011 - 19:45 | 1657878 Ahmeexnal
Ahmeexnal's picture

7.53%?  Daily? Weekly? Monthly? Annually?

VIX or FAZ will get you more than that daytrading.

Annually, silver is over 100%

 

Edit: OK, 7..53% since US debt downgrade.

Should have traded FAZ one day.

Sun, 09/11/2011 - 17:15 | 1657309 DoChenRollingBearing
DoChenRollingBearing's picture

Green

But, Spitzer, I do not trade.  It has always worked out badly for me.  Gold stocks have the usual risks FOFOA warns about (taxation, etc.).  Don't buy gold stocks from Peru without waiting to see what Ollanta Humala may do!  If he IS a Chavez clone, then miners THERE will be led to the slaughter house.

So I just do (and having been doing for decades) what our Trail Guide suggests:

Buy physical gold!

US$ may go up vs. the Euro (short term). Their problems are grave.  And yet their 10,000 tonnes are not much bigger thena our 8000 tons.  Per capita would be about the same. 

The whole Euro angle is about the only one I have trouble with when it comes up in the freegold discussions.

Sun, 09/11/2011 - 17:57 | 1657470 bob_dabolina
bob_dabolina's picture

Last time I checked long-term gains on gold are taxed at 28%, in addition, because of Obamacare every transaction over $600 has to be reported on your 1099 per section 9006 of the Patient Protection and Affordable Care Act (transaction has to be reported by the buyer) 

Sun, 09/11/2011 - 18:00 | 1657484 DoChenRollingBearing
DoChenRollingBearing's picture

My understanding is that gold is taxed at 28% as well.  Although I believe they got rid of the $600 reportable abomination.

So what?  If you must sell your gold, that's what coin shows are for.  Or your local black markets, where you can meet lots of interesting people, including those who would KILL you!

Sun, 09/11/2011 - 20:48 | 1658095 UGrev
UGrev's picture

I thought that was shot down?

Sun, 09/11/2011 - 17:44 | 1657411 sqz
sqz's picture

Safe havens are about liquidity and size.

 

There is nothing more liquid and large as the US Treasury market. So, you better believe it when traders tell you in times of panic the USD gets bid up. Short term you can very much be USD bullish because the opposite side would be insane structurally, while at the same time *HATING* yourself for having to buy such a crappy piece of paper in terms of mid/long-term fundamentals.

 

In fact, I seem to recall Jim Rogers stated he had this positioning setup leading into this weekend.

Sun, 09/11/2011 - 19:47 | 1657892 PeterB
PeterB's picture

At least someone gets it

Sun, 09/11/2011 - 16:32 | 1657146 Barb Dwire
Barb Dwire's picture

So Sunday night Gold margin calls followed by Monday night one too?

Sun, 09/11/2011 - 16:33 | 1657153 Mongo
Mongo's picture

Major Kong rides the currency bomb

Sun, 09/11/2011 - 17:56 | 1657461 Long-John-Silver
Long-John-Silver's picture

For anyone who has no idea what "Major Kong rides the bomb" means.

http://youtu.be/JlSQAZEp3PA

Sun, 09/11/2011 - 18:53 | 1657709 hardcleareye
hardcleareye's picture

I just love that scene!  Slim Pikens at one of his best....  but not as good as Blazing Saddles!

Sun, 09/11/2011 - 16:33 | 1657154 ISEEIT
ISEEIT's picture

Let's roll.

Sun, 09/11/2011 - 16:35 | 1657161 Cursive
Cursive's picture

Long time coming and I'm still not believing it.  RIP, Eurofantasy.

Sun, 09/11/2011 - 16:36 | 1657166 RockyRacoon
RockyRacoon's picture

This could be very painful for many.   Including those who don't know what a Euro is.   Funny how that happens.   Funny sad that is.

Sun, 09/11/2011 - 16:51 | 1657217 ISEEIT
ISEEIT's picture

Pain is the new normal. Stop feeling sorry and get used to it. I will employ the key word once again for effect:

USED.

Sun, 09/11/2011 - 23:56 | 1657906 Ahmeexnal
Ahmeexnal's picture

We can only hope and pray that the innevitable brutal war that this economic crash will unleash is contained within the eurozone borders.

Sun, 09/11/2011 - 17:00 | 1657252 gwar5
gwar5's picture

Very true RR. Going o be lots of pissed off Europeans. Swiss savers must feel totally betrayed righ now.

The CHF is going to take it in the shorts again. No pun intended.

 

 

Sun, 09/11/2011 - 17:18 | 1657320 Fish Gone Bad
Fish Gone Bad's picture

When I talk to everyday people about the problems in Europe and the debt crisis, they look at me like I am from another planet.  Some are polite and tell me they have no idea what I am talking about.

In our history books there were paragraphs that start out something like, " ... and then a war broke out."  NOW I can see how people wrote that.  Fortunately for me, I am but a simple man with few expectations. 

Sun, 09/11/2011 - 18:14 | 1657537 gratefultraveller
gratefultraveller's picture

Yeah, I know what you're talking about. I used to get the same look from my american colleagues 4-5 years ago when I suggested that they get out of real estate and paper, and buy PMs instead.

Sun, 09/11/2011 - 21:17 | 1658135 UGrev
UGrev's picture

I was talking to my neighbor today who is from Ukraine; I specifically asked him how much time we have left here.. He said 10-15 years before it gets as bad as it was in Ukraine. Given the number of differences there are between us and them.. I'd say that means about 3 years tops before this starts up warring factions in the US. 1.5 years until bread lines start to pop up on a regular basis. 

Sun, 09/11/2011 - 21:52 | 1658244 Ahmeexnal
Ahmeexnal's picture

I'm sure his english is not top notch. He must have meant months, not years.

Sun, 09/11/2011 - 17:22 | 1657340 DoChenRollingBearing
DoChenRollingBearing's picture

@ Rocky

We are indeed in a new era.  Lots of bad things look like they are going to happen, as it is TOO LATE to get out of this box without a lot of pain, like you wrote.

Popcorn hoarders may want to break some out soon...  Futures on gold (etc.) open in less than 40 minutes.

Sun, 09/11/2011 - 16:41 | 1657176 H H Henry P P P...
H H Henry P P P Paulson's picture

Not as big of a gap as Buffett's cornhole will be after getting fisted from his BAC investment.

Sun, 09/11/2011 - 16:53 | 1657230 Beam Me Up Scotty
Beam Me Up Scotty's picture

$6 puts baby!!

Sun, 09/11/2011 - 17:01 | 1657254 knukles
knukles's picture

Aw, come on, Hank. 
Uncle Warren is just being a Great American Patriotic Investor.  Injecting needed capital into a struggling bank which otherwise says all's well and doesn't need any money.  And immediately thereafter is gonna fire some 30Thousand to 40 Thousand employees to help Americans get more jobs (Think of all the openings that'll create!) increase confidence in Big Money, Wall Street, Banks and of course, Washington DC!
This is just honkie-dorie way too good to be true for everybody under the sun!

Warren makes out, many ordinary folks loose big fucking time.
Business as normal.
And of course, all done in rapid fire, within weeks of Uncle Warren's personal call to His Majesty our Savior.
(All coincidence)

Sun, 09/11/2011 - 17:54 | 1657458 the PTB
the PTB's picture

OMG!  That is so funny I laughed out loud.  Cornhole.  Jackson Hole.  What's the diff...?

Sun, 09/11/2011 - 18:50 | 1657694 jerry_theking_lawler
jerry_theking_lawler's picture

YOU hurt after being cornholed.....EVERYONE hurts after being Jackson Holed.....

Sun, 09/11/2011 - 19:56 | 1657925 snowball777
snowball777's picture

About $3T and counting...same stench though.

Sun, 09/11/2011 - 16:43 | 1657192 Hulk
Hulk's picture

Strong dollar is going to be a real problem...

Sun, 09/11/2011 - 16:58 | 1657247 ISEEIT
ISEEIT's picture

Not for us.

Sun, 09/11/2011 - 17:10 | 1657287 MichaelG
MichaelG's picture

But it might be time for Timmah to finally abandon his "strong dollar" policy.

Sun, 09/11/2011 - 17:23 | 1657341 DoChenRollingBearing
DoChenRollingBearing's picture

LOL!  Nice!

Sun, 09/11/2011 - 17:04 | 1657269 gringo28
gringo28's picture

jesh. all these euro-is-toast wannabe hedgies, forget that the stars are misalinged when it comes to a weaker EURUSD. what with China basically cranking up the import machine last month and options expiration this week, you can be rest assured the weakness will be the ^DXY, not the EURUSD...

Sun, 09/11/2011 - 17:08 | 1657282 MichaelG
MichaelG's picture

Isn't the EUR over 50% of the DXY basket? And the yuan 0%?

Sun, 09/11/2011 - 17:24 | 1657348 gringo28
gringo28's picture

not my point. that China has resumed stockpiling will draw the typical accusations from the Chanos Blowhard Crew, but it will make folks who think of the USD as a safe haven seriously think twice, again. look, a 1.7% sell-off in something as large as the EUR, doesn't just keep going without intervention of some sort. the writing is on the wall and the central bankers are going to smash currency volatility AND bring the USD down. the latter is central to avoiding a global recession.

but, then again, watch the lemmings walk into the fire......

Sun, 09/11/2011 - 19:57 | 1657926 Ahmeexnal
Ahmeexnal's picture

China's infatuation with "made in Germany" is over.

It's all about PMs, oil and resources in Africa.

Their eyes might not be fully open yet even they know where REAL value is, and uncle Mao knows it ain't in overpriced junk BMWs.

 

Sun, 09/11/2011 - 16:45 | 1657200 Amish Hacker
Amish Hacker's picture

Feelings of safety are deeply embedded in previous experience. When thrown into any kind of panic, people tend to do whatever it was that felt safe before, no matter how irrational. And thus the frightened horses run back into the burning barn.

Sun, 09/11/2011 - 16:51 | 1657216 americanspirit
americanspirit's picture

And believers in the stock market will keep "buying the dip" or, even better, buying US Treasuries. LMAO!

Sun, 09/11/2011 - 16:51 | 1657218 President Palin
President Palin's picture

I smell a margin hike in gold coming...

Sun, 09/11/2011 - 16:54 | 1657233 Beam Me Up Scotty
Beam Me Up Scotty's picture

Gold will go down and back up about as fast as you can sneeze on one of these upcoming margin hikes.

Sun, 09/11/2011 - 17:25 | 1657352 DoChenRollingBearing
DoChenRollingBearing's picture

Bring on the margin hike!  Or just ban margin for gold.  Nothing will stop gold until we are well governed.

Well governed?  When is that going to happen?  Not real soon.  If you don't already own some gold, NOW is the time to get busy and buy some.  

You know, in case they run low on physical or the price goes WAY UP...

Sun, 09/11/2011 - 17:59 | 1657476 Long-John-Silver
Long-John-Silver's picture

Well Governed would mean no governing going on at all. 

Sun, 09/11/2011 - 21:13 | 1658145 bigkahuna
bigkahuna's picture

ummmmm, that COULD happen in the not too distant future...

Sun, 09/11/2011 - 17:52 | 1657449 SheepDog-One
SheepDog-One's picture

Margin hikes arent even having any effect anymore, had 1 last week and no one even noticed.

Sun, 09/11/2011 - 16:53 | 1657226 nathandegraaf
nathandegraaf's picture

The US should just declare leaves to be currency and get it over with. 

Sun, 09/11/2011 - 17:02 | 1657260 knukles
knukles's picture

You think money grows on fucking trees?!?!?!

Sun, 09/11/2011 - 17:13 | 1657299 HoofHearted
HoofHearted's picture

Bennie does...well, old dead trees that have had some green ink on them. (I know, I know cotton and linen...)

Sun, 09/11/2011 - 17:41 | 1657397 RockyRacoon
RockyRacoon's picture

It's a good gig if you can get it.   Turn a $500 tree into $1B dollars.   That trick they do with electrons is down right amazing.

What a country!

Turn lead into gold?  Not such an easy trick, but don't think DARPA ain't working on it.    COMEX has a good gig as well, but that trick is getting old.

Sun, 09/11/2011 - 17:14 | 1657302 CrankItTo11
CrankItTo11's picture

It's partially made from them.

Sun, 09/11/2011 - 18:59 | 1657730 kito
kito's picture

@knuckes--youve never been to the giant california fedwood forest??

Sun, 09/11/2011 - 20:01 | 1657938 Ahmeexnal
Ahmeexnal's picture

 

 

 

The tree of fiat money must be refreshed from time to time with the blood of sheeple and bankers.

 

Ahmeexnal

Sun, 09/11/2011 - 16:54 | 1657232 doomandbloom
doomandbloom's picture

Look over there...

 

( more distraction to follow )

Sun, 09/11/2011 - 17:05 | 1657271 MichaelG
MichaelG's picture

It's the Goodyear blimp!

Sun, 09/11/2011 - 18:01 | 1657486 Long-John-Silver
Long-John-Silver's picture

It will soon be called the Badyear blimp.

Sun, 09/11/2011 - 16:56 | 1657237 gwar5
gwar5's picture

Fed will have to match ECB QE, it would give Chairsatan the cover he seeks. Spigots are opening, looks to be a gusher.  This must be the 'dangerous period' we heard tell about. If they wanted to raise the price of gold (tungsten?) and return to a gold standard (as the Chinese suspected) this would be the way to do it. 

 

"Organization for the Preservation for the Status Quo"  ... trademarked by ZH? Good one!

 

 

 

Sun, 09/11/2011 - 16:58 | 1657242 LoneStarHog
LoneStarHog's picture

The only thing that I have seen go down faster than the Euro is gold when the government/FED smashes it; that is paper gold.  The only thing that goes down even faster than anything that I have seen are the girls on the HBO Series "Cathouse".

Sun, 09/11/2011 - 16:58 | 1657243 tkinfo
tkinfo's picture

Gold closed at an all time high in Euros on Friday, I'm thinking more of the same at the opening.

Sun, 09/11/2011 - 17:03 | 1657262 Motley Fool
Motley Fool's picture

A question. If they Euro is weakening against other currencies, doesn't that make the european debts less in real terms? :P

Sun, 09/11/2011 - 17:16 | 1657310 snowball777
snowball777's picture

Sure...and when they zip right past parity to achieve some semblance of solvency, I'm gonna buy me a castle or two.

 

Sun, 09/11/2011 - 17:06 | 1657273 frippy
frippy's picture

Anyone follow Lindsey Williams? About a year ago his insider source told him that in 2011-12 the euro would crash, and roughly 2 weeks later the dollar would follow.

Called that shot almost 1 year ago.

Laugh at the old man if you like.

Sun, 09/11/2011 - 17:14 | 1657304 Loose Caboose
Loose Caboose's picture

frippy - I got my pencil and paper - I was ready to write it down - the old guy just took too damn long getting to the freakin' point.

Sun, 09/11/2011 - 17:08 | 1657281 thirtycaliber
thirtycaliber's picture

Looks like the dollar may rise across the board tomorrow. Gold.... we really don't know how it could react. How about Friday afternoons gold dip when equity was in the pits?? This dollar rally that is responding to systemic failure could be a August-Sept 2008 for gold... 

Sun, 09/11/2011 - 17:12 | 1657297 HitTheFan
HitTheFan's picture

Any of you smart guys undersatnd why the Euro will not crash, but is highly likely to replace the dollar as the new global transactional currency?

All you need to do is look at the last few quarter end ECB statements, see if you can work it out.

A clue....it's shiny and yellow.

Sun, 09/11/2011 - 17:21 | 1657317 Frankie Carbone
Frankie Carbone's picture

Need to get me some more Aurem and Argentum. 

Time to go to www.bulliondirect.com/nucleo and look up the bid ask for 1 oz Arum American Eagles, and perhaps some 10 oz Johnson Mathesy Argentum bars. 

Sun, 09/11/2011 - 17:56 | 1657466 SheepDog-One
SheepDog-One's picture

Im just focusing on getting more brass, copper and lead base metal assemblies.

Sun, 09/11/2011 - 18:43 | 1657664 WestVillageIdiot
WestVillageIdiot's picture

Oh, my god, you have Carbone with the coffeepot as your avatar.  That is awesome. 

It took 2 days to freeze him out when they found him.  How long will it take to thaw out the Euro? 

Sun, 09/11/2011 - 17:27 | 1657360 xtop23
xtop23's picture

The opening in an hour could be really ..... lively

Sun, 09/11/2011 - 17:45 | 1657424 msmith
msmith's picture

EUR/USD very bearish price action.  This is only the beginning of a very large move lower.  A nice forecast is available here http://bit.ly/oYIfxA.

Also the ES (S&P Index) is getting ready to make a big drop.  Bearish equities.  http://bit.ly/nlr4c9

Sun, 09/11/2011 - 17:50 | 1657440 SheepDog-One
SheepDog-One's picture

Last thing Ben can have is a rising dollar, he'll put a stop to that quick.

Sun, 09/11/2011 - 18:13 | 1657529 Everybodys All ...
Everybodys All American's picture

I think you're right. However, right now the EU is collapsing and Bernanke has no control over this outcome.

Sun, 09/11/2011 - 17:54 | 1657459 SheepDog-One
SheepDog-One's picture

People above are wrong about 'money printing'...if they actually HAD to physically print all the money (debt) the FED has created they would have already blown themselves to pieces long ago.

Sun, 09/11/2011 - 18:02 | 1657475 xtop23
xtop23's picture

Think a QE ( or whatever the name of the day is ) announcement will even wait until the 21st? 

I hear the manic palsy click clack of zeroes being added to the balance sheet as we speak

Sun, 09/11/2011 - 18:07 | 1657503 SheepDog-One
SheepDog-One's picture

Go for it, speed up the total collapse, fine with me.

Sun, 09/11/2011 - 18:01 | 1657489 ISEEIT
ISEEIT's picture

I'm thinkin' the wild card right now is JPY/EUR. Will they force a spike? I'm looking at about soon for maybe 500 pips with less than 60 risk. Odds seem good.

Sun, 09/11/2011 - 18:06 | 1657497 ISEEIT
ISEEIT's picture

Stupid is as stupid does. Opened at 105.25.

S/L @ 104.50

T/P @ 109.35

(don't want to get to greedy, I really think over 110.00 is a likely spike).

Sun, 09/11/2011 - 18:09 | 1657514 SheepDog-One
SheepDog-One's picture

The casino on the Titanic will remain open for 1 more hour....place yer bets!

Sun, 09/11/2011 - 18:11 | 1657519 ISEEIT
ISEEIT's picture

True enough.

Sun, 09/11/2011 - 18:13 | 1657523 gratefultraveller
gratefultraveller's picture

.

Sun, 09/11/2011 - 18:13 | 1657530 SPADOC4
SPADOC4's picture

Could drive the US fiat up.

Could drive the relic up.

 

Good news? Bad news?

Down the rabbit hole...

Sun, 09/11/2011 - 19:26 | 1657829 gringo28
gringo28's picture

so much for that big ass drop in EURUSD....

Sun, 09/11/2011 - 20:34 | 1658042 Miles Kendig
Miles Kendig's picture

roook out berrow - 75 next up in JPY land

It's time to party!

http://youtu.be/UqUtEXmSHfA

Sun, 09/11/2011 - 23:21 | 1658414 robertocarlos
robertocarlos's picture

The Euro is backed by gold. Fifteen percent i think. The US dollar is backed by lead 100%. Canadian dollar is backed by our neighbour and some black tar we found.

Mon, 09/12/2011 - 00:30 | 1658545 xtop23
xtop23's picture

Tungsten actually but I digress.....

Sun, 09/11/2011 - 23:38 | 1658454 kote
kote's picture

I was offered a job in Europe last week.  This is just depressing.

Mon, 09/12/2011 - 02:52 | 1658695 Grand Supercycle
Grand Supercycle's picture

My long term indicators continue to warn of significant USD strength and AUD / NZD / EUR etc weakness and these signals have increased since 2009.

Unfortunately the March 2009 equity lows eventually will be breached.

Updated SP500 monthly chart at blog.

http://stockmarket618.wordpress.com

Tue, 09/13/2011 - 22:08 | 1666028 moxia19
moxia19's picture

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