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by Ashraf Laidi
Posted: Feb 3, 2010 17:02
Comments: 116
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This thread was started in response to the Article:

$1.32 Euro Under Construction

The deteriorating momentum of sovereign concerns in the Eurozone & further dissenting rhetoric from FOMC to weigh further on EUR & other risk currencies.
 
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said
mulhouse, France
Posts: 2822
14 years ago
Feb 9, 2010 20:19
HE PIPPED OFF

GOLDMAN ARE ALITTLE MORE CLEVER THAN TRYING TO SUSTAIN THE DOW ABOVE TEN THOUSAND THEY SIMPLY BOUGHT PUT MONTHS AGO AT A VERY INTERESTING PRICE AND LET THE MARKET CRASH NINE HUNDREDS POINTS;
PippedOff
Canada
Posted Anonymously
14 years ago
Feb 9, 2010 19:36
The only question remaining is:

When will the GOLDman Sachs back off from goosing the spoos, and allow the market to head back south?

Oh yes, the GOLDman-backed U.S. PPT mMUST defend the technically-insignificant 10,000 at ALL costs, otherweise it will be a mass exodus to get out of U.S. fluffed-up equities.
LouisvilleAK
Kentucky, United States
Posts: 4
14 years ago
Feb 9, 2010 18:35
Hi Ashraf,

If I understand the current Greece situation, Bailout/NoBailout is a lose/lose for the euro. The end result will be too many euros in circulation and 132 is still on the way.

Thanks,

Terry Quinn

BTW thanks for Great Tweets (louisvilleak)
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 9, 2010 15:16
[Oops, I meant are the anti-risk-appetite currencies...sorry.]
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 9, 2010 15:14
FWIW, I'm short both, on the grounds that both USD and JPY are the anti-risk-aversion currencies, and seem to play a similar role, even if not at the same time.
Neither set of shorts is looking too clever at the moment, but I think this is a temporary pull-back. There is no EURO-positive news on the horizon that I can see ...


Of course I could be wrong...
Callum
Singapore, Singapore
Posts: 179
14 years ago
Feb 9, 2010 15:06
Hi Ashraf, wanted to get your opinion on whether its better to be on short on eur/jpy as a better play on the EU risk-aversion story compared to eur/usd. here's some thoughts to think eur/jpy could provide extreme profits on 2 fronts, ie, 1) on top of the eur fall due to the risk, 2) jpy drop compounded upon risk aversion as it unfolds carry trade. EUR/JPY has run up quite a bit today vs. EUR/USD and I am wondering whether I should short this instead of EUR/USD ... PS,I love your book/notes and hope my vote counts ... :-) Callum
gino
Posts: 7
14 years ago
Feb 9, 2010 14:23
Hi Ashraf
Do u still see 3580 this week for eur? seems many traders r opening longhttp://www.forexhound.com/article/Pattern_Price_Time/Analysis/Dollar_Falling_as_Traders_Bet_on_Greek_Rescue/182736
thx
alec
Sofia, Bulgaria
Posts: 5
14 years ago
Feb 9, 2010 14:09
Good question Maples! Im already selling at 1.37 But whats the upside.. 1.38?
Rob
New York, United States
Posts: 305
14 years ago
Feb 9, 2010 14:06
Hi Ashraf,

Would you share your thoughts on this emergency ECB meeting. Could not an announced plan to "save" Greece cause excessive upside in the Euro? I understand the problems are deep and not strictly confined to Greece; however, with the deep sell-off in EUR already, do you see the possibility of a rather large bounce? And do you feel that Trichet and others are purposefully going to say something to prevent further downside in the Euro? Thanks for your help. Rob.
maples
Posts: 6
14 years ago
Feb 9, 2010 13:20
Hi ashraf I am shorting eurusd. I know you said 1.32 on the downside whats the restiance on
the up side. THANK YOU,
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