ES Journal - 2012

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Quote from chaykapwr:

1329 is SERIOUS resistance. The 18-25 was decent resistance and we got a couple of good reactions of it.

I would like to see us move up to 29 and then drop hard. If we breaks 40, the we will hit 56.


However, in the medium term i have turned bullish on the S&P and my target is 1500 minimum (1525 to be exact)
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This was said 40 ES points ago

Medium Term bull call still valid.

Unless other evidence presents itself, i will not try to short this market for anything more than 10 points until 1425 MINIMUM and after that hello sweet 1500
 
Quote from Lawrence Chan:

Yen got trashed across the board since they do not want usd to gain strength over euro or the other majors.

It is first sign, however, that USD may stage a strong come back.

That will weaken all stock mkts.

If it is going to happen, will be within a few days.
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For those of us who are unfamiliar with forex games, why trash the Yen to prevent USD from strengthening. Why not just focus on selling USD?
 
Quote from chaykapwr:

This was said 40 ES points ago

Medium Term bull call still valid.

Unless other evidence presents itself, i will not try to short this market for anything more than 10 points until 1425 MINIMUM and after that hello sweet 1500
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This will trade 1290 before you see 1400
 
Quote from volente_00:

This will trade 1290 before you see 1400
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This might happen, its actually another scenario for me, but 1330-1350 will be tough support


HOWEVER, i will be super super super long at 1290-1300.
 
Quote from tortoise:

For those of us who are unfamiliar with forex games, why trash the Yen to prevent USD from strengthening. Why not just focus on selling USD?
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Bennie's strategy is to export the inflation into other countries thru trashing USD.

Japanese gov finally taking a stand and it will do everything to trash yen against USD to pop its economy back up.

That fight will create an imbalance in money flow that will create strength in USD vs. other currencies. That Bennie will not allow. To counter the measure done by BOJ, someone has trashed yen across all other majors, so the net effect of a strengthening USD does not leak into euro.

ECB also wanted to trash euro against USD to resolve their debt problems but the minor members in EU would be very unhappy as that will cause hyperinflation in their countries.

All out World War 3 on financial front has been in place for several years ... just that everyone is pretending to be friendly with their fellow global leaders.

LOL.
 
Quote from Lawrence Chan:

Bennie's strategy is to export the inflation into other countries thru trashing USD.

Japanese gov finally taking a stand and it will do everything to trash yen against USD to pop its economy back up.

That fight will create an imbalance in money flow that will create strength in USD vs. other currencies. That Bennie will not allow. To counter the measure done by BOJ, someone has trashed yen across all other majors, so the net effect of a strengthening USD does not leak into euro.

ECB also wanted to trash euro against USD to resolve their debt problems but the minor members in EU would be very unhappy as that will cause hyperinflation in their countries.

All out World War 3 on financial front has been in place for several years ... just that everyone is pretending to be friendly with their fellow global leaders.

LOL.
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beautiful (lol) thanks!
 
Quote from Lawrence Chan:

Bennie's strategy is to export the inflation into other countries thru trashing USD.

Japanese gov finally taking a stand and it will do everything to trash yen against USD to pop its economy back up.

That fight will create an imbalance in money flow that will create strength in USD vs. other currencies. That Bennie will not allow. To counter the measure done by BOJ, someone has trashed yen across all other majors, so the net effect of a strengthening USD does not leak into euro.

ECB also wanted to trash euro against USD to resolve their debt problems but the minor members in EU would be very unhappy as that will cause hyperinflation in their countries.

All out World War 3 on financial front has been in place for several years ... just that everyone is pretending to be friendly with their fellow global leaders.

LOL.
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We better hope and pray Bennie and his boys don't pull plug. It's the only thing keeping the engine running.
 
That was an interesting little pullback with some volume. Seems like someone decided to sell the news maybe and take a profit. See what we get here.
 
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