Jellylip's British Pound Trade - Take her Deep

J

jellylip

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So here we are, first of December and deer season is winding down. We had a good turn out at the turkey shoot down at the club and some damn good deer chilli too. Besides all that mess, the Bank of England is scheduled for a rate announcement this week. Once a glamour child, the pound which has shot up a bunch this year is starting to make them bulls nervous. Will rates begin to back off in the U.K.? Will old Ben back off the rates here in the land of opportunity? Can a pound really be worth much more than a pound? Let's pay for barrels of oil in pounds. Has a nice ring sort of except one is a liquid and the other is a solid and I can't put a solid in my lawn mower. What if the pound kept right on shootin up? Hell yeah, she might shoot right on up.


I think she is goin to shoot up 2500 points more over the next 18 months or until around June of 2009 or there abouts. Around 2.3200 should get it for now. I am trying to make a little money on this one, I ain't planning on social security to help me and my youngins. I am buying the old gal as much as I can. I wish I had more money to buy some pounds but the damn taxes are eatin me up. No one thinks it is going to happen and that's why I like the idea. That is why it is a damn good trade. Don't spend any time fretting over why it might not happen fundamentally speaking. For every story you come up with, there will be a different tale with a different twist to contradict you. All I know is, there are sure pounds and pounds for sale right now. And they are easy to find right now. You might say Bristish Pounds is in rut. Hehe. Damn hoss. Take her deep.
 
My trade fell down a little today. Not a whole lot of money trading going on before the interest rate annoucemnet. I still like what I see in the trading action. 8 contracts still on and I am down about $6,300 on this leg of the trade. I hope she shoots up like that Canada dollar did today then I would feel a little better. One thing I have learnt from money trading is that you have to get okay with losing a few. Just don't lose a bunch. It was hard at first, but I can lose a little better now.
 
Looks like some info on consumer confidence and such has caused her to fall off a little more. I am keeping my eye on her for now. I would like to see her get up above 2.0666 area and stay there. If she does, i am going to buy more of her hard as I can.

I don't pay much attention to this banter except to know what everyone else is gnawing on. I still think she is going to shoot up real good. I have always had a good knack on where to find water when walking in the woods.


[00:21 GBP/USD: A Fraction Lower, After The Nationwide Release]

Sydney December 5. The Cable has edged slightly lower on the sharp drop in consumer confidence, falling from 2.0575 to 2.0560, significantly lower than this morning"s 2.0610 high. Speculation of a rate cut on Thursday will build on the release, as many analysts already believed that it will be a close call, especially after the Canadian move overnight. Initial support comes in here at 2.0560, the overnight low and below that this week"s low at 2.0525, while resistance starts at 2.0650, the 20 day moving average. The Cable trades 2.0560/65
 
Damn man. She fell off hard on all this mess. I am going to chew on this for now. I lost a bunch on this one. I ain't givin up on her though. Just need to wait on her more. I think. I ain't got no problem being wrong. It's part of the game. You boys was right on her.
 
The UK is worse off than the US when it comes to housing, and the BoE doesn't want to help like the Fed did. For good or for worse, that will probably make it much harder on any UK bank to survive.

The future of the pound is down, not up.
 
Quote from Ivanovich:

The UK is worse off than the US when it comes to housing, and the BoE doesn't want to help like the Fed did.
More...

I doubt "help" is the correct choice of words. The BoE acknowledges what Bennie doesn't... Bennie is setting the stage for much worse.
 
Hello again boys. I am in long again. I went back and re-thought everything today and I want to be buying the pound. I know my money trading might not make much sense to everybody but it is what it is. My nephew showed me this sight and I have enjoyed reading here. I did not know about gathering spots like these up till now. I have appreciated all the talking everyone has done with me. I've come to enjoy talking with folks on the computer.

We got snow real good here at home at I went out to the creek to sit a spell and ponder what was going on with ol jelly. I have let the kind thoughts of everybody else here cause me to doubt my money trading. I am just not used to having folks to talk to and all.

I still in the pound shootin up camp. I am back buying her today. I am just going to put on 10 contracts and work my way up or get out when it feels like I am wrong at it all. I am back in her at 2.0260. I think I ended up losing about $20000 dollars on the way down to here so I got a long way to go on her. Let's keep an eye on her over the next few days.

anybody's thinking on this is welcoming to me.
 
BOE Cuts by a Quarter

Well they finally did it. It was politicing I'll guarantee. Now we can get on with money trading for a while. She ain't fell off that much which is telling me something.
 
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