Monday, February 08, 2010

Scared Enough?








124 comments:

John said...

Boris

good morning

old john

boris said...

Dear John,
Good Morning to you
Very Dear Friend
Good Trading

Wanderer said...

Dear Boris,
Good morning.
Thanks and good trading.

Bert

boris said...

Good Morning
To YOu my very Dear
Friend Bert

boris said...

emini255
On DotNet

gorli said...

good morning, boris,
the p-site seems to be down!
gorli

boris said...

Dear Gorli,
Sorry,
You do not need Psite, for now
We have the DotNet up

Sorry, to be late responding.
Got bogged down into some system issues here

John said...

Hopefully you got your walk in


old john

boris said...

Dear John,
Today, I did not get much to go out, but I had nice relaxing weekend( it was sunny, not much work , but sunny).

Good Trading Very Dear Friend

אנטי-סופיטליסט said...

"We continue to expect no interest-rate hikes from the Fed in 2010 and, more likely than not, in 2011 as well...." The Goldmen

boris said...

Looks like an inside day.
Just as well.

Good Trading All

אנטי-סופיטליסט said...

The Goldmen have downgraded Italian banks today

אנטי-סופיטליסט said...

[Spanish]Development Minister, Jose Blanco, denounces plot against Spain and the euro ...

אנטי-סופיטליסט said...

RBS says that the euro is the 'sickest dog of the litter' and will remain so until Greek crisis is resolved; near target 1.30

How Goldman Sachs Helped Greece to Mask its True Debt:

Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit.

It looks like the Greek figure jugglers have been even more brazen than was previously thought. "Around 2002 in particular, various investment banks offered complex financial products with which governments could push part of their liabilities into the future," one insider recalled, adding that Mediterranean countries had snapped up such products.

Greece's debt managers agreed to a huge deal with the savvy bankers of US investment bank Goldman Sachs at the start of 2002. The deal involved so-called cross-currency swaps in which government debt issued in dollars and yen was swapped for euro debt for a certain period -- to be exchanged back into the original currencies at a later date.

Such transactions are part of normal government refinancing.....
But in the Greek case the US bankers devised a special kind of swap with fictional exchange rates. That enabled Greece to receive a far higher sum than the actual euro market value of the dollars or yen......

I wonder if the Goldmen offer individuals these fictional swaps Dear Boris, after all, aren't we sovereigns as well :-)

boris said...

And
Obviously,
This news comes out at appropriate time as well.

WHo FORCED(:- Goldmen to announce existance of such UNFAIR SWAP and why now?

So, that GOLDMEN and their friends are in an outright effort to part you from your EUROS/SWISSY/ and lesser currencies of GBP/KRONER-NORWAY etc.

Hallelujah.

These people are becoming so

TRANSPARENT

Even I(:- -:) can see it...
And I am half blind(:-

Good Trading Dear Xerxes

John said...

Boris

good trading and good walking

old john

boris said...

THanks Dear John
Good Trading
Very Dear Friend

I walked/ran nicely today
On the beach, nice gorgeous day

boris said...

Emini256
On
DotNet
ENjoy

John said...

Boris

Day off from jogging- back bothering me. Where I now live, lots of hills-- hard on lower back

old john

אנטי-סופיטליסט said...

Dennis Gartman is bullish on dollars, all of them, USD AUD NZD CAD Dear Boris ... He recommends them and not the single currency ...

Wanderer said...

Dear Boris,
Good morning.
Thanks and good trading.

Bert

אנטי-סופיטליסט said...

CS, MS, GS recommending to continue the ride on the emerging market bull ... buy on the dips Dear Boris; they say you won't be disappointed :-)

boris said...

Dear John
We need you healthy
Please take it easy.

Get strong and go back
to jogging.

Good Trading Very Dear Friend John

boris said...

Dear Bert
Very Good Trading
My Very Dear Friend
Bert

boris said...

5 Minute Date
Is oN DotNet

אנטי-סופיטליסט said...

Merkel and the EU to the rescue of Greece Dear Boris

boris said...

Dear Xerxes
Do you remember, we organised this all(:-

Good Trading Dear Xerxes

boris said...

DARK PATH!

אנטי-סופיטליסט said...

Best day for EURUSD since June Dear Boris

אנטי-סופיטליסט said...

Looks like maybe green dear boris ... Long live the Christian Democratic Union!

boris said...

Maybe not the gree,
Maybe not yet,

In any case, that transition is not trivial

John said...

Boris

Watching that euro move was something else.

thanks

old john

אנטי-סופיטליסט said...

Tricky on his way back to europe to pow wow with some bigwigs manana on the Greece situation ... Maybe Athens can abandon the euro and join a currency union with the shmeck :-)

boris said...

Dear JOhn,
agree, even though I was fixated on GBP, which had just as amazing of a FLIGHT(:-

Thanks Very Dear Friend John

And Good Trading

boris said...

Dear Xerxes
Good Idea.
(:-
Good Trading Dear Fiend Xerxes

John said...

Used it with the 5 minutes-- did ok


old john

you taught me well

boris said...

Dear John,
Good For you
Enjoy
Very Dear Friend

אנטי-סופיטליסט said...

Today's action seems to suggest Dear Boris that if the eurocrats offer any kind of aid to Greece the euro will rocket north .... Unlikely that they'll tell 'em to go pound sand so we get a one-way bet, a ticket to shangri-la :-)

אנטי-סופיטליסט said...

Eurocrats meeting as I write to decide what to do with Greece ... 600,000 Greeks preparing to strike today .... If the rioters like the German plan will there be a big street party Dear Boris :-)

Ivan said...

Dear Xerxes,
maybe some other EU countries have seen the pattern: spend the money, do not care about deficits,... and in the end, Germany will cover the costs. :-)
I am not sure that will be the case with the next country in problems...

אנטי-סופיטליסט said...

Dear Ivan, if Greece gets its Ouzo, I want my Sangria and the Portuguese want their Port :-)

אנטי-סופיטליסט said...

Bloomberg is expection 4% UK inflation in today's report, up from 2.9% in December

Ivan said...

Yes, they know, GBP should hit 5th today :-)

Ivan said...

GERMANY SAID TO CONSIDER GREEK AID BEYOND LOAN GUARANTEES

אנטי-סופיטליסט said...

Bloomberg says we won't hear anything until Tricky gives the post meeting conference tomorrow ... Some say could be bailout or a firewall to protect the other EU members

אנטי-סופיטליסט said...

Obama doesn't think Jamie Dimon's 18 million dollar bonus is out of line as some athletes make big bucks and don't win the championship

Ivan said...

This will probably end with a big spike up in antidollar... The question is when.

אנטי-סופיטליסט said...

Mervyn King on TV giving his speech ...

אנטי-סופיטליסט said...

MPC expects inflation to decrease from whatever rise occurs

אנטי-סופיטליסט said...

Although they paused QE, the MPC reserves the right to fire 'em up again, 'should conditions warrant.'

King says don't compare Greece to the UK .... suuuure :-)

Ivan said...

Dear Xerxes, I am not watching TV but I am sure he left something positive for GBP, for the end.?

אנטי-סופיטליסט said...

e-mini past 4th HHAP

אנטי-סופיטליסט said...

Dear Ivan .... He said that he expects inflation to hit 3.5% from increases in VAT and petrol prices ... He expects inflation to abate so no need to jack rates now ... QE is available if needed ... They are giving the banks 3 years to unwind the asset purchase program ... Doesn't seem like he said anything that should rally GBPUSD, not yet anyways .... He's still patting himself on the back as to how he saved Britain from Great Depresion II :-)

אנטי-סופיטליסט said...

King doesn't think that running a 6 or 7% annual inflation rate, to wipe out the debt, as per Rogoff's recommendation/estimation is warranted, as it won't 'help the banks.'

אנטי-סופיטליסט said...

Dubai, UAE (CNN) -- A shadowy figure murdered in his Dubai hotel room by a hit squad that the police say operated with European passports. It sounds like the plot of a John Le Carré spy novel, but this is reality and the hunt is on for the killers of top Hamas official Mahmoud al-Mabhouh.

Al-Mabhouh's father, Abed al-Rauf, told CNN: "There was an attempt to kill him in Lebanon and he survived, two other attempts in Syria and he survived. Israel has been after him for the past 22 years."

Israel certainly has good reason to put him on its most wanted list. Al-Mabhouh was behind the kidnapping and killing of two Israeli soldiers in 1989. Israeli security sources tell CNN al-Mabhouh was a key link between Iran, Hezbollah and Hamas and he was involved in smuggling arms to Gaza.

אנטי-סופיטליסט said...

Bloomberg confidence survey down 28% from January while confidence in the buckeroo is soaring :-)

boris said...

Very Good Info
Dear Xerxes
Keep up the good
busines-Infotainment
(:-

Wanderer said...

Dear Boris,
Good morning.
Thanks and good trading.

Bert

boris said...

emini257
On dotnet

אנטי-סופיטליסט said...

tom Petty is back Dear Boris and can we thank the snow :-)

אנטי-סופיטליסט said...

Also, before long, we expect to consider a modest increase in the spread between the discount rate and the target federal funds rate. These changes, like the closure of a number of lending facilities earlier this month, should be viewed as further normalization of the Federal Reserve’s lending facilities, .....Ben Bernanke

אנטי-סופיטליסט said...

Total credit outstanding under all programs, including the regular discount window, has fallen sharply from a peak of $1-1/2 trillion around year-end 2008 to about $110 billion last week. .... Ben Bernanke

D said...

started buying first april GC 1110 calls

אנטי-סופיטליסט said...

as the expansion matures the Federal Reserve will need to begin to tighten monetary conditions to prevent the development of inflationary pressures. The Federal Reserve has a number of tools that will enable it to firm the stance of policy at the appropriate time. Most importantly, in October 2008 the Congress gave the Federal Reserve statutory authority to pay interest on banks’ holdings of reserve balances. By increasing the interest rate on reserves, the Federal Reserve will be able to put significant upward pressure on all short-term interest rates, as banks will not supply short-term funds to the money markets at rates significantly below what they can earn by holding reserves at the Federal Reserve Banks. ... Ben Bernanke

אנטי-סופיטליסט said...

the Federal Reserve anticipates that its balance sheet will shrink toward more historically normal levels and that most or all of its security holdings will be Treasury securities. Although passively redeeming agency debt and MBS as they mature or are prepaid will move us in that direction, the Federal Reserve may also choose to sell securities in the future when the economic recovery is sufficiently advanced and the FOMC has determined that the associated financial tightening is warranted.... Ben Bernanke

boris said...

Dear D,
Enjoy
Good TRading Dear Friend

daveo said...

Dear Boris, please explain to me the time shift on the seethefuture graph. I'm having trouble with the dates. I browsed through the bigpicture charts and they are amazing as usual. Thanks, Daveo

boris said...

Update
On DOtNet
GOod Trading

daveo said...

Sorry Boris, I think I got it figured out. The graph on the dot net site shows this week and the next 4 (5 weeks beyond what is shown on this blog). I'm a little rusty. Daveo

boris said...

Dear Dave
There is no shift on SEEFUTURE
You see next 4 weeks prediction on that chart.

It is a weekly chart please remember that .

Other than that there is no shift. Next 4 weeks are shown.

Of course, the entire dates have to be shifte by one year. But that would only change thye year not the (day and months).

Good Trading Dear Dave.
If I am not clear, plese provide your phone we shall discuss this.

G

boris said...

Yes,
Exactly
Dear Dave

boris said...

Hanaging
aournd the lows of the area
Need to Go over, or could turn down again.

Good Trading All

D said...

i have done my part buying today...

from an hour ago:

long
eur/jpy
gold
gdx
CL

boris said...

Dear D,
ENJOY
I presume, these will be, at least, a good short term trade

Good Trading Dear D

D said...

we shall see what the future holds. i think people are mistaking greece for a financial crisis when it is really a political/social crisis.

the media stokes the fire of credit contagion and waaaaaaaa! lol

boris said...

Dear D,
I for one, have implied or stated exactly the same.

Nevertheless, there is cyclical reason for Antidollar being down last couple months

GOod Trading Dear D

D said...

but of course...i am not a news watcher. i prefer to listen to music or watch a movie. my favorite news is the tin foil variety.

:)

xerxes said...

There will be “blood on the walls” in credit markets if the EU fails to agree to a package for Greece tomorrow, Gary Jenkins, head of credit strategy at Evolution Securities Ltd. in London, said in a note to investors......

Tough talk Dear Boris but Bloomberg says that for Jean-Claude "Tricky" Trichet, Greece will merely merit only a 'lunchtime palaver' tomorrow ...

xerxes said...
This comment has been removed by the author.
אנטי-סופיטליסט said...

EU summit will start at noon rather than 10:00 am Dear Boris

אנטי-סופיטליסט said...

Fitch says that France has a debt problem along with the UK Dear Boris so the single currency should get a 4 handle this afternoon :-)

אנטי-סופיטליסט said...

Spain contracted for 7th straight quarter

אנטי-סופיטליסט said...

Is Spain going to be asked to bail the Greeks Dear Boris :-)

Ivan said...

Dear Xerxes,
Bilderbergs,... (Sopitalists) know the answers for all these problems (at least for now).

boris said...

Dear Xerxes,
Great staff.
We can start our own
News Service.

Think about that.
That would be Great(:-

Good Trading Dear Xerxes

אנטי-סופיטליסט said...

It seems that nobody here is a club member, Dear Ivan :-)

אנטי-סופיטליסט said...

China raising minimum wage by 15% rather than appreciate the RMB according to Bloomberg ... China claims CPI is 2% despite record bank lending, justifying the wage rise and claiming it is noninflationary

אנטי-סופיטליסט said...

Bloomberg says that Greek bank stocks are rising for 3rd consecutive day ... Bloomberg claims that this shows positive sentiment towards Greece but is it a case of buy the rumor and sell the news Dear Boris ...

אנטי-סופיטליסט said...

Bloomberg says risk trade is ON Dear Boris with AUDUSD targeting 90 near term ... Boooom

Ivan said...

What a tricky morning session!?

boris said...

GBP
Made it tricky Dear Ivan,
that is what made it.

But that is nothing new the way this tricky BURTISH is working(:-

Good Trading
WALK, GOING TO WALK, made few cents(:-

John said...

Boris

Enjoy the walk-- have to take my toyota corolla in for the recall this morning.


old john

Wanderer said...

Dear Boris,
Good morning.
Thanks and good trading.

Bert

boris said...

Dear John,
Keep Your Toyota running.
I thought this recall related relatively newer cars. I guess TOYO is in bigger S than I ghought(:-

Good Trading Dearest Friend John

boris said...

Dear Bert
Very good morning
to my Dearest Friend
Good Trading Dear Bert

boris said...

Actually,
it was so nice that I swam today(:-
Now that is nice, when you think you are just going to walk and end up swimming.

GOod Trading Dear All

אנטי-סופיטליסט said...

I didn't trade today Dear Ivan ... I'm just long buckeroos ... Gonna ride them to PARITY :-)

boris said...

Dear Xerxes,
Just a caution.
YOu remember what happened , the last time you felt that way.

I think it was March 2009(:- !!!
NO NO NO
NO implication we are at a similar point, please nobody get wrong ideas.

Good Trading Dear Xerxes

boris said...

Dear Xerxes,
Just a caution.
YOu remember what happened , the last time you felt that way.

I think it was March 2009(:- !!!
NO NO NO
NO implication we are at a similar point, please nobody get wrong ideas.

Good Trading Dear Xerxes

אנטי-סופיטליסט said...

I guess you had to caution me twice Dear Boris :-)

אנטי-סופיטליסט said...

The post euro summit conference set for 2 or 3 hours hence ....

boris said...

emini 258
coming on Dot Net

Good Trading

אנטי-סופיטליסט said...

The Greeks aren't asking for euros Dear Boris and apparently nobody else wants them today either ....

אנטי-סופיטליסט said...

Bubkes from EU summit talks, Bubkes Dear Boris ...

D said...

if you're going to screw over a bunch of tax payers by slashing their social programs that you promised them...and the potential for riots is high when do you tell them?

friday night/saturday morning

:)

boris said...

EURO
bounces
From DLAP3

P R E C I S E L Y

!

GOod Trading all

boris said...

We have come
to the area UPPER WALL
!
Interesting what happens here

Good Trading All

John said...

yes it did and i traded it--


old john

boris said...

update
At
MarketReport

boris said...

Dear John
I presume you are referring to
EURO DLAP3

So, you are now comfortable with trading currency.

Great Dear John
I am happy for you.

Frankly I do not see much difference between currency and any security, but EURO does move nicely between DLAPS DHAPS

Everybody please see AP money machine LINK on the front page

(:-

John said...

Boris

I should phrased it differently-- I used currency to trade the Qs-- almost always do that when there is a confluence. Too old to trade currencies:)

old john

boris said...

Dear John
Great
What you just said is an example
of how to use the ANTISOPITALIST

Exactly, when the Market was around the low area and EURO hit the DLAP 3 that seemed like a perfect confluence of markets.

Absolutely, the , typical ad brilliant example how we work.
Besides the outline that helps us orient in certain direction, we take trades just like that you described.

As for trading QQQQ, I see no difference. Of course, you could have just as well traded FXE or any other currency ETF.

Great Dear John, for giving an example how we trade.

THAT IS HOW!

boris said...

Dear John
Great
What you just said is an example
of how to use the ANTISOPITALIST

Exactly, when the Market was around the low area and EURO hit the DLAP 3 that seemed like a perfect confluence of markets.

Absolutely, the , typical ad brilliant example how we work.
Besides the outline that helps us orient in certain direction, we take trades just like that you described.

As for trading QQQQ, I see no difference. Of course, you could have just as well traded FXE or any other currency ETF.

Great Dear John, for giving an example how we trade.

THAT IS HOW!

John said...

Boris

I am more a Q person-- sometimes spx-- remember when you first started and you posted Qs-- that is what I do-- with the currencies. Always looking for the confluence

old john

Wanderer said...

Dear Boris,
Good morning.
Thanks and good trading.
I hope you enjoy your weekend.

Bert

boris said...

Dear Bert,
Good Morning to you
Very Dear Friend
Good Tradng

John said...

Boris

good morning-- day off from exercise. Bought a little dto yesterday - going to do ok today.


old john

boris said...

Emini259
OnDotNet

boris said...

Dear John,
ENjoy, day off

Deserve it
(:-
My Very Dear Friend

Ivan said...

EUR don't want to die here! Maybe, it could have 1-2 days rally!

Ivan said...

Be careful with EURUSD shorts (if any)!

Ivan said...

Dear Boris, sorry. I didn't read your comments at dotnet before I wrote this.

boris said...

No Problem,
Dear Ivan,
You are OK
To write those things(:-

Good Trading Dear Friend

boris said...

Moved to new post
Thanks