Considering the way that PIIGS' bonds are being priced, I would expect the EUR to be sinking like a stone. Something tells me that there's a bit of central bank intervention to keep it aloft.
EUR will skyrocket this afternoon
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Considering the way that PIIGS' bonds are being priced, I would expect the EUR to be sinking like a stone. Something tells me that there's a bit of central bank intervention to keep it aloft.
Not yet.
NiN
BOOM! What's the next major support level? 1.25?
No way of knowing...just like they have no idea of the amount of REAL debt Greece has and equally no idea how they can resolve the problem.
And wait when the masses are not yelling "OPA" anymore...it will be contagious to other countries.
NiN
This situation is starting to look positively insane. I read on Bloomberg that in order to make debt payments by May 19, Greece would need the money on May 6. Now I read that Germany will vote to approve money on May 7. Meanwhile, the US stock market is continuing to go along a steady upward trajectory like a choo-choo train that won't stop.
Clambill, I stopped trading in the stock market because it's well beyond sane levels. The PE ratios are nuts. The market's setting up for another Oct 19 1987 Black Monday. I'm staying away from the markets both long and short.
The currency markets are much more liquid and transparent; they're too big to manipulate for very long. I can't say that about the stock market.
... and it looks like the triple bottom theory for the Euro is now out the window.
The currency markets are much more liquid and transparent; they're too big to manipulate for very long. I can't say that about the stock market.
... and it looks like the triple bottom theory for the Euro is now out the window.
Maybe Al Gore will invent additional bottoms for indicator addicts.
I believe we could have seen either a change in direction, a quadruple bottom or a breakout. We've seen a breakout but also pretty negative news. So, the fact that the euro hasn't plunged significantly at this point gives me the impression there is some currency intervention going on.
Makes no difference to me because I keep on finding various ways to improve the methods I've been working on for months. The last few days and weeks have been challenging in some ways but allowed me to improve my methods so much more. If you've never looked at technical analysis, let me say I've noticed some methods work better in some situations and others better in other situations. The fact that there have been "tough" circumstances lately from my point of view of technical analysis means I've seen how I can adjust my methods to make them much more robust. Even though I'm always thinking of new ideas, I believe I may be done working on a lot of details. I just took a position today with more money than usual.
Makes no difference to me because I keep on finding various ways to improve the methods I've been working on for months. The last few days and weeks have been challenging in some ways but allowed me to improve my methods so much more. If you've never looked at technical analysis, let me say I've noticed some methods work better in some situations and others better in other situations. The fact that there have been "tough" circumstances lately from my point of view of technical analysis means I've seen how I can adjust my methods to make them much more robust. Even though I'm always thinking of new ideas, I believe I may be done working on a lot of details. I just took a position today with more money than usual.
Quote from Now is Now:
Maybe Al Gore will invent additional bottoms for indicator addicts.
Maybe Al Gore can invent a new economic model that will work for the whole world.
This does not appear to be working very well. And one of the things I read earlier today from an economic forum suggests that governments are constantly thinking short term, not long term. This suggests this mess we're in is caused by governments wanting votes. I like the fact that Obama has enough "balls" to change things like healthcare. We need more politicians with outright balls and audacity, someone like Bill Clinton who can tell people he "never had sexual relations with this woman" and "I did not inhale".