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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
Is there any reason here to go long?
Still, not to be greedy. It's now around 1.4965. Surely it will rebound now though ...?
I made 90 plus pips in ZERO trading time by shorting GBPPUSD at close Friday, and closing the position at open today. Never made easier money than that. 90 pips in ZERO TRADING MINUTES.
http://www.telegraph.co.uk/finance/economics/7327017/Pound-slides-as-figures-underline-scale-of-UK-recession.html
dont forget guys that during the beginning of 2001 he was trekking around eastern africa and now we might have a shift in african mines due to cost reasons; so he has an edge that most gold guy dont have.
in 2001 i lived in sout east asia nad send an email to rogers stating "is it interesting to invest in CBR index" eh guys he replied and take the time to tell "or u r stupid or u r wealthy cause they are better ways to invest in gold than through the CRB" meaning he was invested at around 300_350 dolar/ounce. WERE YOU?
we might hear maybe that COMEX is gonna buy the index one day and that will be guys like rogers that will be behind the move.
why go describing people as "tricksters". Yes, it is true that jim rogers' market timing is poor (he actually admits it) but his call on the commodities boom was bang on. And yes, he had been bullish on commodities since the 1980s so in effect he was way off in timing. (but his rationale was great). Even Roubini's rational for the market crash and debt implosion was argued perfectly (but he was 3 years too early). And yes, rogers may sound very sensationalistic in his way of saying things, but his take on the UK, the pound and the US economy ARE ALL VALID. Again, his timing as you said is poor, but you guys cannot jst make all encompassing remarks about people dismissing them as tricksters, or crooks or etccc.
Life is more complex than that, the market is more subtle than that...and the market is not out there to get you whenever you lose money.
so let us rethink the way we characterize people and the market, instead of issuing such remarks w/out subtelty or responsibility
Ashraf