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Posts by "montmorency"

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montmorency
(Abingdon, United Kingdom)
74 Posts by Anonymous "montmorency":
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montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 26, 2010 11:49
In Thread: GBP
Ashraf said a long time ago that GBP was going to be the whipping boy for 2010 (like USD was for 2009), and so far, this is proving correct. Don't forget the mounting political uncertainty leading up to the election, Gordon Brown facing embarrassing revelations in a new book by Andrew Rawnsley (in the Observer, and also written up in the Guardian); not just his temper, but questions about whether he is really up to the job. Add to that Mervyn the Magician who only has to speak to send cable down.
Plus as mentioned before UK banks' involvement in the Greek tragedy, probably to play out further in the future. Against all that, a few data numbers are almost just noise by comparison.
Not that I can see any good numbers coming on the near horizon.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 26, 2010 11:41
In Thread: EUR
I'm sitting on existing shorts and looking for further shorting opportunities in new highs.
(Big stops, low leverage :) ).
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 21:22
In Thread: Gold, Oil & Indices (Equity & Bond Indices)
[Tried to post on this thread earlier about the denial of the China rumour, but would not appear after several attempts - this by way of test post after restarting - apologies if slightly off-topic]
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 19:00
In Thread: Gold, Oil & Indices (Equity & Bond Indices)
Another great comment at Zerohedge, to article:
http://www.zerohedge.com/article/meet-new-regime-gold-and-dollar-coincident

"The statistical insignificance of this post is overwhelming and mind-numbing. Data mining on 13 days of data. You can show pigs flying more scientifically."

LOL!
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 18:50
In Thread: Gold, Oil & Indices (Equity & Bond Indices)
And I'm at 1101 and 1106...I was skeptical about the China/IMF story ... hey ho.

See the latest IMT ( February 25, 2010 18:23 GMT ):

"A close above 1109 in gold could extend upside towards 1117.".


I'm wondering why China would buy gold now when it can produce gold of its own?
http://en.wikipedia.org/wiki/Gold_mining_in_China


Why not wait till it gets even cheaper if it does need to buy?
Is this a goldbug-inspired rumour...?
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 17:26
In Thread: Gold, Oil & Indices (Equity & Bond Indices)
Well the stock market has taken a long-awaited dive anyway - at least a mini-dive.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 17:06
In Thread: JPY
@Chloe: To keep this on thread topic, yes, I ventured from my comfort zone and followed Ashraf's tip on GBP/JPY, and made a small bomb. Also done well on cable and a bit on gold.
Been surprised how resilient EUR/USD has been, but I'm not complaining!
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 15:13
In Thread: JPY
You may be right Xaron long term, but shorter term Ashraf has noted how strong JPY is at the moment and look how USD/JPY fell.

[Tweet ~7 hrs ago from AL: "yen rise started after former Jpns fin min said #boj no need to act now"]
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 15:04
In Thread: Gold Catching Down with Euro
Pipped could be right where he says somewhere that gold won't be seeing 1100 again in a hurry.
It is struggling to make it above 1097-98 as I type.
But never underestimate the persistence of goldbugs.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 25, 2010 14:45
In Thread: GBP
@Pipped: That's worrying isn't it. When the world and his wife are all buying, isn't it usually time to sell or at least stand aside ... ?
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