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06-25-2008, 12:49 PM
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Join Date: Jan 2008
Posts: 48
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Quote:
Originally Posted by Jamie Saettele
Here is the bigger picture from the top (2.1160). The next drop should present the opportunity to get long for the run to at least 2 (wave c of a triangle) or above 2.04 (wave c of a flat).
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I agree my friend
btw I saw on fxstreet you will be in barcelona as a keynote speaker at a conference
true?
If so congrats
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06-25-2008, 12:51 PM
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Posts: 826
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It's just absurd that the market still moves based on the knucklehead Feds. They've cut 325 basis points and the Dow is down thousands of points and the dollar is in the garbage. Good time to take a nap if you ask me. Whatever happens to the markets will only be a short term result (1-3 days), after that, the stock and dollar downtrend will resume.
American-T
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06-25-2008, 01:24 PM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by italm31
Thats happened to me a few times as well. Pain has always been and will always be, the best way to learn. Those that don't learn are the ones that get go away.
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This time it was really different; volatility was rather low, only +/- 40 pips for most pairs.
Mike
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06-25-2008, 01:30 PM
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The Fed keeps rates unchanged and says inflation is a concern. Wow. Breathtaking. As usual, the Fed has underwhelmed me.
The stock market appears strong and ready to rally significantly. Even a usueless Fed announcement should give it reason to do so. The market was severely oversold this week and has completed 5 waves down so it's been due for a bounce. But let's watch the media dig up pieces of data in hindsight from the Fed's statement to give reasoning behind the stock market rally that should last into tomorrow ane perhaps into Friday.
American-T
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06-25-2008, 01:36 PM
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Join Date: Jul 2007
Posts: 1,592
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Well guys,
Im following the Gbp/Jpy cause of the stellar ending D that still looks to be intact. Ive raised my entry now to 212.12. If that gets hit while pattern stays in tact, theres a good chance this is for real. Price looks to be breaking down.
Last edited by italm31; 07-13-2008 at 01:01 PM..
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06-25-2008, 01:43 PM
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Join Date: Mar 2008
Posts: 136
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Quote:
Originally Posted by American Trader
The Fed keeps rates unchanged and says inflation is a concern. Wow. Breathtaking. As usual, the Fed has underwhelmed me.
The stock market appears strong and ready to rally significantly. Even a usueless Fed announcement should give it reason to do so. The market was severely oversold this week and has completed 5 waves down so it's been due for a bounce. But let's watch the media dig up pieces of data in hindsight from the Fed's statement to give reasoning behind the stock market rally that should last into tomorrow ane perhaps into Friday.
American-T
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stocks doing alright but the dollar is collapsing. bernanke did it once again. why am i not surprised...
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06-25-2008, 01:54 PM
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Join Date: Jan 2008
Posts: 826
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Quote:
Originally Posted by chibai73
stocks doing alright but the dollar is collapsing. bernanke did it once again. why am i not surprised...
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I know. Bernanke is a dollar killer. And I thought his mission over the past few months has been to try and strengthen the dollar. Maybe if he gets his nose out of textbooks and gets with reality that you can't completely ignore the dollar for months to save the stock market and then all of a sudden become concerned with the dollar and save that right when you want. Can't have your cake and eat it too, Benny.
Unfortunately for him, both the stock market and the dollar are headed lower.
I love our government. Whenever they get involved in things, everything gets much better.
American-T
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06-25-2008, 02:02 PM
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Moderator
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Join Date: Jan 2007
Posts: 1,341
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Quote:
Originally Posted by JT3
I agree my friend
btw I saw on fxstreet you will be in barcelona as a keynote speaker at a conference
true?
If so congrats
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Yes, I'll be there. Thank you.
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06-25-2008, 02:29 PM
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Member
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Join Date: Jan 2008
Posts: 575
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Quote:
Originally Posted by italm31
Guys,
No need to get upset over this. History repeats itself. In the end greed is always the culprit behind our demise. Wave 5s always happen. If they didn't capitalism wouldn't work. In wave 5s the economy is sick. This is its way of getting better...but not without a little pain. Unfortunately, humanity has been down this road before and will continue to do so unless we can somehow one day, figure out a way to control our emotions...wouldn't that make us not human?... We did it to ourselves. Its time to pay the piper. God help us all!
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Italm;
The voice of reason. I agree. Besides there are plenty of political sites on the net. I would add that we are students of the wave in part, because we want to anticipate the next move and be ready to capitalize.
Good Luck
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06-25-2008, 02:58 PM
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Join Date: Mar 2008
Posts: 136
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Quote:
Originally Posted by American Trader
I know. Bernanke is a dollar killer. And I thought his mission over the past few months has been to try and strengthen the dollar. Maybe if he gets his nose out of textbooks and gets with reality that you can't completely ignore the dollar for months to save the stock market and then all of a sudden become concerned with the dollar and save that right when you want. Can't have your cake and eat it too, Benny.
Unfortunately for him, both the stock market and the dollar are headed lower.
I love our government. Whenever they get involved in things, everything gets much better.
American-T
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AT, the stocks fooled me earlier. The bears are back now for the close, heheh  It's funny you just said both the stocks and dollar are headed lower.
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06-25-2008, 03:07 PM
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Join Date: Jan 2008
Posts: 826
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Quote:
Originally Posted by chibai73
AT, the stocks fooled me earlier. The bears are back now for the close, heheh It's funny you just said both the stocks and dollar are headed lower. |
That is funny. They retreated a lot quicker than I anticipated. I know the Dow actually went into negative territory and closed below where it was before the Fed news was released, which is a very bearish sign. I don't know if the S&P did the same thing or not.
Dollar's still dragging.
American-T
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06-25-2008, 03:31 PM
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Posts: 1,219
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Any comments?
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06-25-2008, 03:34 PM
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Join Date: Feb 2008
Posts: 252
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Quote:
Originally Posted by diver
Any comments?
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It should officially be called "Diver's Triangle". 
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06-25-2008, 03:42 PM
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Join Date: Jan 2008
Posts: 1,219
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Quote:
Originally Posted by texas pipster
It should officially be called "Diver's Triangle". |
Thanks TP. I'll have a cold one on that and a big porterhouse! :-)
It's not over yet but, I'll tell you, if it stops at the wave D downtrend line and starts lower I will be tripling up positions on the wave E low for the new highs.
After that I would think by everyone's count the Euro should go much lower.
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06-25-2008, 04:02 PM
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Join Date: Jul 2007
Posts: 1,592
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Hey guys,
I think I just heard Prector is about to talk on Bloomberg in case anyone is interested.
http://www.bloomberg.com/
Click on live TV on left hand side.
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