Discussion in 'Forex Trading' started by Gcapman, Feb 12, 2010.
Please post your choice
Please post some sort of analysis why you think this will be the case. a chart, a TA, a hypothetical fundamental thought process...ANYTHING. Otherwise it's just chit chat and I'll move it accordingly. Thank you.
The main reasons:
1) pretty bad U Mich Consumer Sentiment - the consensus was for a fourth consecutive positive reading
2) it was disappointingly obvious that the EU has no real strategy for bailing out Greece -- and I do not think that they will have any additional concrete line items on Monday
3) US retail sales will not be sustainable -- especially in light of the defeat/rejection of the US jobs bill by Dems
4) Dubai default costs are at the highest level since last November
5) that EUR economic data was pure shitty!!
That's all I could think of off the top of my head........
Market's closed on Presidents Day, so I vote "NO".
The massive slide also occurred when the US stock/bond markets were closed....
....yet another reason for a landslide === low volume+overbought levels right now
***Also, you should be aware that the currency markets are open on Monday***
I see another limit lock down by the end of options expiry next wk.
The moves the last 2 days, the volume and the fact that Asia has a holiday and so do we presents a thin market whereby the Market Markers have placed their marks.
I personally believe the break outs of each support or resistance channel to be hard.
We received the squeeze again in the wknd so another short squeeze is not out of the question with the tests of supports at 6 percent.
Also now that Pimco is buying into the oil sector and they have a trillion under management pretty much guarantees CJ beta.
NQ moves today and after hours is interesting.
Squeezing the shit out of the last shorts. If the shorts get thin we test bottoms as the only true reason a market drops is profit taking.
every one enjoy your holiday
Looks like traders who are dollar bears will get their asses handed to them on Sunday/Monday...especially true for the Euro, Pound and Aussie.......
Should I be scared that we're thinking the same thing? I couldn't agree more, however the violent up move to go and close the gaps above makes me wanna see weakness before putting on a short.
On the other hand, volume will be thin on president's day like it was in November during the Dubai mess, markets is overbought like it was in November, global mess is looming on the horizon like it was in November. So if it smells like a duck, quacks like a duck....maybe the poor thing is a duck
Look at the pattern before the late november decline. 3 days up, big sell off, hammer, recovery, remind you of anything?
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