help was approved for Greece!
Well Dear Boris, B-berg said on Friday that something would be forthcoming over the weekend ... The headlines seem to suggest that a big potent scheme has been agreed upon ... I guess we'll have to see what happens to EURUSD this week but you and Dear Ivan probably already know :-)
Dear Xerxes,I Do not know anything.I just think what may happen and take a position and then protect itThat should be as simple as it sounds(:-Good Trading Dear Xerxes
To say you know nothing is a bit much Dear Boris ... I could say that and be totally believable, but not you :-)It is as simple as it sounds Dear Boris ... It took me a while to realize this :-)Your dotorg piece today was great
BorisNice article on safehaven
Well Dear Boris EURUSD doesn't seem to have much faith/confidence in the Greek rescue, selling off after a brief moment of euphoria ... Greek rioters scheduled to engage in their craft this week :-)
ECB relaxing collateral rules Dear Boris
Greece needs to make 30 billion in cuts over 3 years and they think its a big deal Dear Boris ... If they can a few of the useless and faceless bureaucrats, nobody would notice, or care :-)
What's spreading faster Dear John, the oil slick, the debt crisis or legs on Rush Street :-)
Dear John,Thanks, Very Dear FriendPlease forgive me too.I have accidentally deleted your post, while trying to delete another stupid post.By the way , I was curious about the question.Who were the two thieves that graduated Harvard in 1975 and lived in the same dorm?I shall look on the internet, see if I can find an answer(:-Good Trading My Dearest Friend John
Dear Ivan, what is Downey Street telling you this morning :-)
Dear Xerxes,All in good timeAnd if not, be ready to do what you have to doThat is all you can do.Nothing was ever and will be guaranteed. The only thing ( can be ) made guaranteed is that you protect yourself and come another day to fight .Good Trading Dear Xerxes
GGB's falling in price this morning Dear Boris
B-berg says Greek aid package is a 'bailout of the euro' not the Greeks Dear Boris
An OECD economist (former) on B-berg says that since Greece can't devalue so as to stimulate exports and earn some cash they'll have to cut salaries/benefits/costs to accomplish the same ... But this will need to occur on the backs of the private sector which is simultaneously being burdened by ever increasing tax rates and consequent declines in purchasing power .... So Dear Boris, are the parasites killing the host :-)
B-berg is asking Dear Boris if 110 billion euros is "too little, too late"
Marc Faber says today that China could crash in 6 to 9 months Dear Boris
Out for swimming(:-
Dennis Gartman says is 110 billion enough? No Will the Greek people tolerate the austerity? Of course not ... Will the Germans continue to pony up cash, year after year? No! It is only a matter of time till the Greeks default ... That the Greeks will likely leave the EMU ... He's surprised that EURUSD is as high as it is ...
Dear Boris,Good morning.Thanks and good trading.Bert
Greece smells like Bear Stearns ... Short Spain and short the euro ... Keith McCoullough, Hedgeye Management
Hedgeye targets 1.20 just like the Goldmen
Hedgeye is a B-berg regular contributor but maybe they are really a Goldmen front Dear Boris :-)
Higher taxes and lower wages ... Shock & Awe by the IMF
dire future for Greek economy ... ING Brussels
China raised bank reserve requirements for 3rd time this year .... old news, I know, Dear Boris
Greek bailout not working, per B-berg, Dear Boris .... European stocks down 4 of 5 days, EURUSD at 12 month low and sinking ... Spanish and Portuguese debt spreads widening ... ECB now accepting junk as collateral ...Gimme a D Gimme a E gimme a F gimme a A gimme a U gimme a L gimme a T .... What's that spell? .... Can't hear you, what's that spell? :-)
The spill is the size of the state of New Jersey ...With that much oil from one well, WTIC should sell for 89 cents/bbl Dear Boris not 86 bucks :-)
"These cuts will kill our income. Pensions in Greece are already very low," Dimos Koumbouris, head of a pensioners' association that will help organize protests this week, told the AP. He said he feared that the austerity measures, which will cut back on holiday bonuses paid to public servants and pensioners, will force them to curtail their spending. "Many retired people wait for their holiday bonuses to buy clothes, and even extra food," he said. "How will these people get by now?" Maybe you could explain to Mr. Koumbouris how Russian pensioners managed their affairs post-1998 default Dear Boris :-)
Back to workDear BertGood Morning and Good Trading Very Dear Friend
BorisGood swimming and I will give you the answersA guy name named bernanke and blankfein both graduated from harvard in 1975 and lived in the same dorm ( wintrhop house) for 3 years. what a coincidence :)
Dear John,Yes, Makes sense.That is how the Harvard Gangs are formed, I presume.Good Trading and great info My Very Dear Friend John
Hedges ( More like Wall Of SHame/Street Hayna ) have tried again to push the EURO below the ALAP1.So far not able.Stay strong, keep for profit stop and and try to jump on them again , just in case they succeed temporarily!(:-Good Trading All
Dear Boris .... You call them hedgies but what if it is the biggest hedger of all, Bernanke's Fed ... After all, didn't Ben and Lloyd share a dorm like Dear John just told us .... Birds of a feather Dear Boris :-)
Yes,You can call them anything.There are powers in this world , including those two that have and apply a lot power to make things come out certain ways.So, we can include any number of powers in that picture. Those two you mention, fit just as well as anybody I knowGood Trading All
Ok, we need new SEC investigation.Here is how!SEC says, GS knowingly constructed the securities that can be shorted buy one side and sold it to another side(clients). Not only that they took the short position against their clients.How in the world is that different from what the FED does.If pays you money( in dollars) and then conducts the operations to make them worthless( I.e. Shorting it ) against the you and me ( and anybody who has the dollar in their hands). In this case FED is GS and GOV is Paulsen(hedge ordering the product-dollar) and Everything else is just similar case.So, where the GLOBAL police to stop the FED/GOV from doing this evil?How could they apply different standards to themselves than GS.Not that I care for GS(:- , YOu know!GOod Trading ALL
Is this the real reason why the gov't took over GM Dear Boris :-)"Worldwide porn revenues, including in room movies at hotels, sex clubs,and the ever expanding e sex world topped 97 billion in 2006. That is more than the revenues of Microsoft,Google,Ebay,Amazon,Yahoo!,Apple,Netflix and Earthlink combined. (according to the Internet Filter Review)...Porn is very lucrative to some of the nations largest corporations. General Motors owns DiRECTV which distributes more than 40 million streams of porn in American homes each month. AT&T Broadband and Comcast Cable are currently the biggest American companies accomodating porn users..AT&T and GM rake in approximately 80 percent of all porn dollars spent by consumers."
It beats me Dear XerxesHow come people cannot consume SEX from internet.Why do they need the GM and ATT?Good Trading Dear Friend.OK, I can picture hotel that does does not provide internet yet(:-
Maybe, just maybe, Dear Boris, those SEC characters we talked about the other day, were simply monitoring the government's investments/properties and not slacking off as we first thought :-)
According to data from the Bank for International Settlements, Swiss institutions, at around 68 billion francs, rank as one of the largest donors. Only the French banks, with 80 billion francs [of exposure] have stashed a bit more money in Greece. "But in relation to GDP, the risk to Switzerland, according to FTD, is the highest by far: According to Morgan Stanley economists [Swiss] commitment in Greece comes to almost twelve percent of Swiss GDP. France follows as the largest country in the eurozone at 2.5 percent." http://seekingalpha.com/article/187952-greek-financial-debacle-threatens-swiss-banks The Swiss banks are threatened with a brush with destruction, ruin, and insolvency. Three major forces have put tremendous pressure on their entire banking system. 1) Severe losses from Eastern European mortgages, 2) Severe losses from invested US mortgage securities, 3) Sudden withdrawal of private accounts that have long benefited from Swiss secrecy. A well-known economist named Tagesanzeiger has warned that Switzerland risks bankruptcy, if the recent instability centering on Eastern Europe is not contained quickly. At issue are loans made in Swiss francs to Eastern European debtors. A significant proportion of the total $200 billion of Eastern European loans were issued in Swiss francs. For example, in Hungary 31% of all loans are in Swiss franc currency"
Dear Xerxes,The info you provide above is not new.I suggest that you make a difference between the Swiss Frank and Swiss Banks.Swiss banks lend the money and unless the world collapses the money will have to be payed back. That means there is a demiand for Swiss Frank, as people earn in EURO and must buy Swiss Frank to pay the loans.Now, Swiss Bank may get in trouble, but that does not automatically translate into Swiss Frank being in trouble, in fact, as we saw in USA, it was during bank troubles that Dollar got stronger.So, there , food for taught for you.Good Trading Dear Xerxes
Good Morning Dear Boris ...
PIMCO says Greek funding package is inadequate ... Greece likely to experience a 'lost decade' Dear Boris (so what???)
Merkel is talking about an 'orderly default' for Greece
Good MorningDear XerxesGood Trading My Very Dear Friend
I wonder if this Gulf oil debacle confirms the abiotic theory Dear Boris
B-berg talking about the 'collapse' of the common currency and how to profit from it ....
B-berg recommends selling Spanish banks, buying the USD as the winner in the fiat war with the euro, buy German bonds and to buy the "New Deutschmark"
Greece is banking on tourism to revive their "post-financial ruin" rebound ---- B-berg
The only winner when fiat currencies fight is the GOLD Dear XerxesGOod Trading My Very Dear Friend
Satellites suggest that the oil slick is increasing at the rate of 26,000 barrels a day
B-berg says Sovereign debt fears are front and center as the common currency sinks to one year lows and spreads & CDS' widen for Spain, Portugal, Italy & Greece ...
Goldmen target getting closer and closer Dear Boris ...
Greek Rescue Doubts Spur Sovereign Debt Risk on Contagion Bets -- B-berg
How many Euros or Francs will be required to buy a "New Deutschmark" Dear Boris
Everyone is watching the euro as it makes new lows minute by minute --- B-berg
Heady days for dollar bulls Dear Boris ... 1000 pips from the Goldmen target :-)
Where can I buy the "New Deutschmark"
Emini 312 on the Market Report
They cut through the 10 year Dear Boris without paying any respects :-)
Slowing Chinese manufacturing data, sovereign debt concerns, equities in disarray, Spain rumored to ask for a 'package' as well ... Pass the sangria, ouzo and I'll pay with New Deutschmarks :-)
2 handle in the cross hairs Dear Boris ... Broad selloff in progress
Will Bernanke end the rally like he did in December 2008 Dear Boris
I wonder if all the sovereign wealth fund managers feel good, today, about having 'diversified' away from the buck ... Maybe they're the ones fueling the rally Dear Boris
GGB's widening again Dear Boris... The markets want an Auto-de-fe and until then they'll be selling euros for dollars and the New Deutschmark :-)
Geithner pushing a bank tax today ... Gimme VAT, Gimme Cap & Trade, Gimme higher personal IT rates, make everybody snitch on each other with 1099's (embedded in health care legislation), spend like there is no tomorrow, Gimme QE like mad .... Now where's the recovery? There is one: USD's, the ultimate contrarian play :-)
Greeks rioting in the streets against the austerity plan ... Apparently Sr. Papandreau is no Leonidas :-)
Greek bailout plan may not get approved by individual country parliaments ... B-berg says euro future is 'limited' ... IBEX down 4.5% today
The relic starting to crack Dear Boris ...
It was once said that the buck was as good as gold Dear Boris .... And there are enough of them so that everybody can have some .... everybody can share the wealth :-)
update on goldMarket Report
We're moving below the 76% fibo of the move up in EURUSD to 1.51 Dear Boris
buck soaring against the real Dear Boris .... european equities wiped out all gains ytd -- b-berg
IBEX plunged to 9 month low led by financials -- b-berg
Even the mighty shmeck is succumbing to the king Dear Boris
After listening to the big O talk on B-berg it's a wonder how he got even a single vote
Update about marketsand GOldMarket Report
OECD says Spain is not Greece ... Felling better now? ...
bought some deep ITM calls in qqqq as I think we should get a snap back rally later today or tomorrow.
Very speculative of course and not holding for more than a few days either way
B-berg asks if this is the beginning of the end for the euro
European debt fears grip the markets in a worldwide selloff -- B-berg
Dear MichealAs long as it cannot hurt, much options are OK, especially after such emotional down move.Not that I am predicting immediate recovery, but there is some chance of a snap back for sureGood Trading Dear Michael
Sterling is today's European gold ... far from the Mediterranean and far from the Balkans and Eastern Europe .. or is QE the key metric :-)
The Spanish Prime Minister said today that rumors that Spain may be seeking help from the IMF to deal with Spain's debt crisis are "absolute madness, intolerable"...So how long before Spain bites the dust Dear Boris :-)
Rumor: Spain will ask for 280 billion euros of aid money – Euro plunges
According to Israel’s Globes, Germany will not be able to back Spain on such a big request, more than two and half times the size of the Greek plan. So, the Euro’s fate is to fall. Due to the Greek debt issues and riots, the Spanish debt problems have escaped the eyes of many analysts, despite its 20% unemployment rate.. Contrary to Greece, Spain is already at the heart of Europe and its huge debt is a danger to the whole Euro zone. Germany was reluctant to help Greece, and cannot aid Spain.Wonder why the franc hasn't decoupled Dear Boris
Rosenburg says 0.85 EUR/USD
Once you have officials going down that route publicly [talking of] "assisted default within the Eurozone" everybody owning Spanish, Portugese, or any other vulnerable sovereign bonds is feeling a little less upbeat about the Greece-IMF bailout. If that is the road we are following then surely it will be drastically deflationary, the Euro will keep punging and the USD appreciating, taking down EM equities and commodities. Not even Gold is posting a nasty reversal on the day and if the situation is not contained then we are moving to an environment where owning gold is not the answer.
We remain convinced USD bulls (short EURUSD core remains the best trade for 2010) against almost every cross out there (exception can be made for JPY though it has not shown traditional risk aversion or correlation to US Bonds of late so watch for the decoupling as a sign of a deterioration of the Japanese sovereign bond market). Until the liquidity situation is resolved we would also be cautious with gold as it has posted a nasty reversal today on the last resistance 1,185/1,187 (c=a since the lows) we had highlighted before the run towards new highs. Once default fears are batted away with the liquidity bat then not doubt the Gold bullish trend will return. ICAP Global Macro Monitor
Good Morning Dear Boris
Good Morning Dear XerxesGood Trading Very Dear Friend
Parity talk on B-berg this morning
You want to be short the euro until the dust settles ... You could wake up one morning and find the euro at parity ---- B-berg
Grave threat of contagion in euro area --- Axel Weber
IBEX down 1.4% in early morning trade
Parity is supposedly painful Dear Boris ... For whom? Exporters? My heart bleeds for CAT and COKE ... But I wonder why B-berg brings it up every 5 minutes as parity is 30% lower, unless Angela, Axel and Tricky are going to unveil the 'New Deutschmark' soon :-)
Storming the palace in Athens now
Protestors clashing with riot police
EURO Picturecan be resizedOnMarket Report
Dear Bert,GOod MorningAndGood Trading My Very Dear Friend
If you did what I suggestedOn Market ReportThen, just try your stops tighter now.Do not lose, or lose much at all.TIGHTER NOW!
No loss stopsNOW!Free Trade
Desperation timesFor Hyena!
Jump again when you canBe smart about it
wait for right moment to jumpon them again,This time risks should PENNY at a time!
At appropriate time,It is wroth trying againwith penny's only riskWatch your short term staff very carefully
Ok, Obviously beyond our expectations for now!
Need to wait for AHAP1, most likely
update on MarektReportwill try chart if I can.Having difficulties with it
The next wave down in anti-dollar starts likely on Thursday 9:00 GMT.
Hi Boris,Nice write up on dotorg. I just wanted to remind you that the timing for the high of EUR from last year was higher than expected and lasted longer than expected too. At then end, within 1 month of the timing cycle, everything came together accordingly. I have no doubt that something similar will play out again.
Dear Michael,YOur are welcomeAnd YOu are correct,After all it would not be the markets if they did not torture our intellectual abilities(:-Yes, there always something that does not look right at these critical times.Actually, I think I am resigned to give the outlook chance till/including the third week of this month and then say.Ok, now, SHOW ME!
What is pretty amazing to me, is thatlooking at the SEEFUTURE, it was to give the OIL hard time exactly this week, but it was to start 5 weeks ago. Well OIL may have escaped the SEEFUTURE claws for a while, but looking at the USO, I see that , it , has, actually closed lower for last 4 weeks( with all the BURHAHA about OIL). Pretty amazing if you ask me and if OIL takes another dive tomorrow, which , would not surprise me, SEEFUTURE may still say! I TOLD YOU SO(:-GOod Trading All
I have placed the Latest(projected for tomorrow) Seefuture graph onMarket ReportPretty interesting ha!
Fitch put the Goldmen on negative watch ... heresy!
Dear Boris,Good morning.As always, thanks for your calm and clear analysis.Good trading and good day.Bert
Asian shares sinking Dear Boris and once again the euro is in the line of fire, sitting at a 13 month low
Dear XerxesGood Morning To you My Very Dear FriendGood Tradng
Dear Bert,GOod Morning andTrading My Very Dear FriendThanks Dear Bert
UpdateOn Market Report
Goldmen target for EURUSD getting closer and closer Dear Boris ... A few days ago it seemed like a distantimpossibility
1 trillion USD's wiped from world stock markets ytd as per B-berg Dear Boris but they tell us gold is the place to be, a safe harbor that provided attractive rewards .... That must mean that gold is about to enter the cross hairs :-)
Moody just announced that debt contagion may spread to Spanish, Italian and Portuguese banks
Pound sterling is now considered to be a 'safe haven' currency from the turmoil inside the eurozone Dear Boris, according to B-berg ...
B-berg touting the joys of a weakening euro for American tourists Dear Boris ....Some bank just lowered their end-year projection for EURUSD from 1.2 to 1.15 ... I didn't catch the name but it wasn't the Goldmen
Good morning allbrutish is a safe heaven?!this must be the joke of the year.
That's what B-berg said Dear Alex ... I guess its a case of 'anything but euros" :-)
EURCHF ... Crashed and Burned Dear Boris ... I wonder how those Brazilian supermodels and Turkish taxi drivers feel now about holding a pocket full of euros :-)
Aha,That seems to be an interesting even coming at this time(:-Good Trading Dear Xerxes
So what are you gonna wash down lunch with today Dear Boris, Port, rioja, ouzo or on special, some grappa :-)
Maybe some other people, aside from Dear Alex, thought that the idea of sterling being a safehaven was comical; so they decoupled the swissy ...
Now will the SNB respond with a repartee of their own Dear Boris or will they let it stand
Martin Wolf says that the Greeks will ultimately default
I think, our long-time friend named GOLD will die today (or eventually tomorrow), forever.
B-berg says that if Greece implements the EU/IMF program their economy will crash and the deficits will rise as a consequence ...
Dear Ivan.I also think so - but first it will reach 1195-1198, to make everybody sure of new high )
Any rally in the euro is an opportunity to sell the common currency -- B-berg
Borisgood morning-- good tradingold john
Question: Does EU need default procedure ...Trichet: We didn't discuss any default procedure ... Sure Tricky, Sure :-)
Working on the chart,But not guaranteed will make it
Dear JohnGood TradingAnd Good MorningMy Very Dear Friend
chart On Market Report
I hope,No subscriber has missed where we came from on EURO just half an hour ago, Right?
SOme comments on Gold andRest of the AntidollarOn Market Report
InitialstopOn Red Path 1151
Dear XerxesDlap 2 and 3 arearound 118.16 , 11785Right hereMy email has problems
Euro GOt it backAnd CHF, has left AHAP1! it in the DAST
All opinions welcomeAdd Posting is notGood Trading All
Think selling climax in EUR and buying climax in Gold was reached today. Decision tomorrow imho.
Standing at breakevennow
Would buy 1151.00 again
I stay out fro now
IMHO we are seeing the top in Gold for this year.
buy 44, stop 41.75
looking to buy 1144
stay out for now
buy break 1147.75
buy 1144 limit
one order cancels another
if bought 1144, stop 1141.50
stop 43.25, if stopped will buy 44.50
stop 43.75, if stopped buy 44.50 break on the upside
change 43.75 to 53.25 back
to 43.25 change back stop
out, buy 44.25
out -.5 buy 44.25
in, no stop
this is my asset buy thatI sold 1183No stops. 40+ on that trade
Let us remind ourselvesWe had asset sales at the top 1215at 1192 and 1183.I just bought back 1183. Including the 0.75 loss today the profit is over 39 Pts
total number of points in profit, for now, is 167+39=206 Good Trading
If market does not stop hereIt will go to 1123 by 16 PmGOod Tradiang All
buy another one Plus one 1128
will sell one plus one at 1119 if e break that , otherwise1128 works with sell at 11921192-1128=64 ptstotal pts gained till now= 206+64=270Good Trading All
Dear Boris .... You didn't mention the 5th daily :-)
will sell only at 1109, two + twowill be sold there.Otherwise, noops in the market
They're selling the relic Dear Boris and buying JPY & USD's :-)
buy also the one from 1215at 1120
This means 5 % will be sold now 15
buy back at 13 5%
I will let the market slideI am fine with where I am with my assets1189 is possible
buy 5% 1170
that means 32 % invested
added extra 5%
sell 5% at 1190
20 pt gainON new positon in 1 minute!!!!!!!!!!!
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