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Unsustainable Appetite in FX, Equities & Oil
We're witnessing more signs of peaking appetite, this time inside the individual Forex pairs, as well as more failure in oil and Chinese stocks
It's no less than a passing comment when you state that "the recession is over everywhere now". To begin w/...what does everywhere mean? Does it include some UAE economies, which are teetering on the verge of collapse (e.g. Dubai)? Does it include India where they are still tweaking the interest rates? And what about Iceland?
And by the way - I believe Ashraf also stated it s/where - even the European figures may as well be a blip! We'll see what Germany and France have to offer in the next term. Remember what IBRD stated earlier this year - the recession is worst than expected...and that the world economy will shrink not by X%, but a worse Y%!
I'd love to meet anyone who says that the recession's going to be over w/in 2009... *smiles*
I don't need to hedge my positions, I have short on USD/NOK now....everything works better and better for me. I don't like hedge my positions because I never against long term trend. Maybe I am not smart enough like others in this blog who against long term trend but still can make money on long USD.
Norges bank will rise interest rate first, because Norway still has inflation there. I am bearish on GBP in long term, but I am bearish on USD more than GBP. US bond and USD is the last bubble for USA.....
Good luck !!!
If you took Ashraf's advice yesterday Long Yen and USD, you maybe have to take his advice again to hedge your position now....hope you will minimize your loss.
But remember, if you fail on hedge, you will lose more money. Even you success to hedge your positions, it always good for these online broker. They are making money from you.
Good luck!
Everything looks like good......USD found its long term trend again....haha.
Good luck everyone!!
It is just profits taking day....nothing special.
I added more short on USD/NOK....
Good luck!!
Ashraf
I hear you loud and clear on my failure to get in on the GBP/JPY short. I get hesitant without watching the market as much as I used to. Anyhow, can you give a good entry level to short GBP/USD? Perhaps it will bounce a bit in Asia and overnight in UK/EU. Do you have a level it will be capped at if it does bounce? Thanks much. Time to take advantage of these opportunities. The chart pointing to 1.59 looks promising - great chart!