Amazing article about Oz's mining boom. I don't see a way for this not to end very ugly. http://www.bloomberg.com/news/2011-...-fortescue-metals-flight-as-growth-stock.html
Understand, just wondering why it would happen on a massive "risk on" day. Isn't CHF supposed to be sold and PIIGS bonds supposed to be higher on such days? I'll also add that French paper is getting beaten up today (another big "risk on" day). Rumors of downgrade making the rounds.
Yeah, both France and Belgium getting spanked... I think it's really just the simple fact that there's a lot of real money who are long and daily risk on/risk off stuff is irrelevant to them. They need out and that's all there is to it.
Getting stopped out on about half of my USD longs at a loss that I put on about 2-3 weeks ago. Quick 'n painful. Will play the USD short side if we can build good bases in the FX charts around these levels and then break out.
I found this one on wsj.com. Doesn't seem like a serious measure. Unofficial leak about putting a floor usdjpy > 80 or something ?? You think a big economy like Japan can do it ? http://online.wsj.com/article/BT-CO-20111014-707888.html
Indeed. Whether they do or not doesn't even matter to me right now, I am profiting off of rumors alone. Sell the spikes, buy back on the retrace. Eventually BOJ will actually do something and that's where the real profit will be.