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DaveO
(N.Cornwall, United Kingdom)
512 Posts by Anonymous "daveo":
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DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 20:42
In Thread: EUR
Stocks been holding up today on fumes, negative breadth. We seen it all now. The risk appetite is VERY precarious. Breadth needs to increase tomorrow or stocks likely to crater.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 20:28
In Thread: EUR
The clean break of 3420 is bound sure to keep us in suspense
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 20:22
In Thread: EUR
Yes, importing young working age immigrants is a solution but not when there are no jobs, that just makes matters worse :-) I keep telling our lot in UK but they don't listen:-) USA also has the same problem. Over capacity worldwide and deleveraging will take many years to play out I think. That's assuming the planet can survive another bank crisis in the meantime.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 19:52
In Thread: EUR
I was long from 3285
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 19:48
In Thread: EUR
Fanetti. I think Japan is doomed benefiting from very low interest rates from internal savers but how much longer can that exist ? Someone said Japan is a storm fly in search of a windshield. Your demographics are truly horrendous. All major economies are in serious sh*t.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 19:41
In Thread: EUR
Subway, yeah we bin pretty well in tune and I was watching the daily trend resistance
line break. I make extra allowances at holiday periods :-)

My initial targets posted allow for "correction" of 4th Nov move down. i.e I lighten load at both those levels. Beyond the 3735 level I transfer to your camp for further upside :-)
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 18:14
In Thread: Gold, Oil & Indices (Equity & Bond Indices)
Callum, SPX been holding up on fumes this month. Breadth needs to increase soon or stocks likely to crater. You need to ask GS what they intend in the next few days :-) Typically those guys will manage to hold up into y/e for da bonus.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 13, 2010 17:32
In Thread: EUR
If it takes out 1.3421 I'm looking for 1.3616 next target at 100% sym 1.3616. Beyond that 127.2% ext at 1.3740.

Ignoring the fundamentals we had some warning on the 60 min chart that price didn't want to break the 127% ext sym level at 1.3175. It tested the level 4 times over a 4 day period and only managed to break once by 12 pips. We also had some warning from stocks on the vix which was alerting us very low level of fear. Nevertheless the market has been difficult to read with declining volumes for the holiday period not to mention the threat of a china rate hike which didnt materialise in favour of a further delay and interim reserve requirement increase once again which the mkt decided to shrug off.

I notice a lot of fading going on across various instruments. It may not be a good time of year for fading except for very quick scalps. In EU I want to see what happens at 1.3421.
DaveO
UK
Posted Anonymously
14 years ago
Dec 12, 2010 21:47
In Thread: Commodity FX (CAD AUD NZD NOK)
Sounds like the mother of all ponzi schemes, lets hope it doesn't end in suicide.

So you think I should hold onto my USD which I converted from GBP some months ago :-((( ?

I also have some euro en france but nothing compared with GBP and USD i.e you are convinced DX heads up for the next year or so ?
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 12, 2010 21:06
In Thread: Ashraf's Book: Currency Trading and Intermarket Analysis
Steve Nison (Wiley) "The candlestick Course" is one you could review.
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