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Posts by "steinark"

11 Posts by Anonymous "steinark":
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Oct 5, 2010 8:16
It's the same here in Norway. Most industry (except oil related) in this country has either flagged out or are heavily sponsored by the govt because we can't compete with the wages here. House prices has hardly gone down at all during the fin crisis, and food prices are surging (I'd know as I do my own shopping).
They would raise rates if they could, but NOK is strong enough as it is, and don't need no more catalysts.
That said, our country are using taxes/fees to keep inflation down it seems. The trend is that issues that where taken care of by the govt for free are now charging huge fees, and are close to self-financing themselves, even tho they are still govt entities.

Be carefull about buying NOK anyway. Our wealth fund might be large, but oil income is falling every year. (The 'main' oil company in Norway is Statoil (STO on NYSE) and the stock ain't doing it well imo.) Also, our production base is limited as it's to cold to grow food (except fish), and most other production is wiped of the map by the oil boom.


SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Oct 5, 2010 7:54
In Thread: EUR
DaveO, I see you're a technical trader, as am I. I think the reason for trend lines and fib to work so well in currency markets is that computers are sitting around analyzing this 24/7, finding fib levels, trend lines, moving avg, stochastic on multiple timeframes and crosses at once. If they see a level where all of these parameters 'fit', the market goes there. Like a magnet. the bank/house/whatever just tell the machine if they want to buy or sell, and the machine picks the levels.
I bet CMC also use them.

And it seems most of the big players got the same outlook too, as there has hardly been retraces in the market lately. It just grinds along in the same direction for weeks without a single daily retrace. It's kind of odd as you'd expect some profit taking atleast.
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Oct 3, 2010 15:17
In Thread: EUR
China has promised to help EUR contries (probably translate to buying govt bonds). US answer by issuing an europe-wide terror warning. That's how I read it anyway..
Funny times ahead I think. And the currency war that IMF chief is warning about.. That one is raging at full force already.
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 30, 2010 11:53
In Thread: EUR
I have a question to you currency experts:
Lets say some euro country needs a bailout, and the required currency is euro. How can IMF lend euro to anyone, as it doesn't have a mandate to print euro. I do know all IMF members (includung ECB) have some deposits @ IMF, but not nearly enough to shore up failing contries.
IMF *can* issue SDRs though. And it can maybe buy the euros needed in the market using those SDRs? How does this transaction acutally go down, as there is NO way for it to print euro.
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 30, 2010 10:54
In Thread: EUR
EUR.USD running into serious resistanse here at 1.3660-80. Look at this area from march-apr 2010
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 15, 2010 12:45
In Thread: JPY
If you are the central bank, and are able to print how much money you want in a given currency, what stops you from doing just that. See what the crazy FED are doing just to create something they call 'growth'. I call it inflation.
If you wanted to keep your currency strong, that's a different ballgame, as BOJ can't print EUR or USD to buy JPY with.
I view this currency wars going on as a race to the bottom. The fastest printer wins. Smart people buys hard assets, even stocks, to get some protection from this devaluation game.
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 9, 2010 17:54
In Thread: JPY
To add to it all.
Gold, Silver, Copper seems to have a downmove coming, same with oil who failed to break above current trading range @ 75.6 with any conviction, and had a good sell into the 74s again.
All in all positive for USD.
SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 9, 2010 17:41
In Thread: JPY
said, I do see inverted H&S and som stabilization in USD.JPY in the last 3 sessions. There might be something brewing here. That head and should might just be because Japan is sending all those threats about intervention. I might nibble at it on any spike down in this formation.

SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 6, 2010 9:07
In Thread: EUR
I've no clue if .no cb issue TIPS or not, you would probably find what you are looking for here: http://www.norges-bank.no/templates/article____11676.aspx

Also, a lot beleive Norway is part of EU, which is false. We have trading agreements with other European countries/EU through EFTA. Thats something to consider if investing in Norway.

SteinarK
Trondheim, Norway
Posted Anonymously
14 years ago
Sep 5, 2010 19:55
In Thread: EUR
Trading on *known* economic data is impossible, unless you trade real money (no margin) or have like 1000 pip stops.
I wonder how many billions was transfered from Euro holders to Goldmen and it's hedge funds during the Euro crisis.
I let the charts tell the story. Most people should be able to do much better using the current direction of the cross than using phony economic data.