Quote:
Originally Posted by John Kicklighter
Right now, I'm watching the second doji in a bullish tri-star formation - which is a relatively strong signal for a reversal if we get tomorrow's candle closing as a higher doji.
I still wouldn't take a long position if we did get a rebound, most likely I'll just add to my current short around 1.45 and widen my stop a little.
Any one taking any long-term positions despite the possibility of holiday volatility?
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Dear Moderator,
good move, widen the stops,
well to prevent stops hunting, I need to widen even further.
E.g.
Short Euro 1.4500
Stop 1.5000
Target 1.4160
how about it ?
Update 9am ET
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awfully boring market. the weak IFO did not move the Euro much, obviously pple buying at 1.3360-70.
Trichet was impressive today, how we wish Bernanke was as good.
I think the market got the message, ECB is going to hold if not hike next yr, and FED is going to cut if not hold next yr.
nonetheless, it is still not yr end yet. AND very importantly, 1.5000 was never reached.
A new term for you guys:
CPDO - Constant Proportion Debt Obligations (CPDO). A credit instruments by ABN Amro, based on insuranceon corporate debts of Blue Chip companies. It is a highly leverage product, and it had been sold to the masses.
I personally was approached last yr to buy the product. It guarantees returns, till credit events happen to any of the 10 bluechips companies, e.g. Citi, IBM, Caterpillar, Honeywell, etc.
After the CDO debacle, is CPDO next ?
Would the corporate be dragged into Credit Crisis ?
update 9:50 ET
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white house office tower on fire. probably some black house staffer burning evidence.
Before I go on Xmas hols, if yu are facing foreclosure, burn your house, collect insurance and wood for fire to keep warm.
the greatest surprise would be:
Euro keep hugging 1.4400 into 2nd January.
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