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Thread: Trader Sentiment and Positioning
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Old 09-17-2009, 02:15 PM
Businka Businka is offline
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Join Date: Sep 2009
Posts: 8
Businka is an unknown quantity at this point
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I agree with that sentiment and I am of the opinion that stocks are beginning to turn here. The next leg down could well be to S & P 902...a pretty hefty move that correlate to at least a five-hundred pip move in the USD/CHF to the upside.

When I read the news off the DJMN this morning, I thought I read that the SNB would defend the level of the Franc "vigorously." They also said that their rates would remain steady because, while it appears the global economy is recovering, the upturn was still quite fragile and uncertain.
Have they changed their minds already?

Also, do you have any insight into why they would buy dollars twice several weeks ago but have not done so since, even though the CHF level must be killing their export economy?
Thanks.

P.S. Previously, i misspoke. I am short the CHF over the USD, or I have a long position in USD/CHF. Sorry for the confusion.
Last edited by Businka; 09-17-2009 at 02:27 PM.. Reason: Error in position statement...
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