HOLY AUSSIE!! Is australia going bankrupt?

Discussion in 'Forex' started by spersky, Oct 9, 2008.

  1. spersky


    Anyone look at the Aussie. That thing is crashing and has been crashing. Are they going to be they next iceland? I uderstand there is a carry trade, but come on that decline is insane.

    Anyone planning to buy it at these prices?
  2. Remember a few other things (if one is to trade even half rationally):

    - irrational exuberance goes all ways
    - the aussie is a mineral based currency

    But, hey, short the little f''k ... its sitting in a nice triangle for a breakdown here. We will see :)
  3. spersky


    To short after this massive decline is crazy. The risk/reward would be too high.
  4. short the kiwi trader position lets sell some calls :D
  5. gangof4


    sheep aside...

    this HAS to be a short term ballistic bounce candidate to dwarf whatever bounce we get in equities.

    from near par to 63 on a rope (a short one) .

    got burned once by this monday, but this is amazing. short term play, not long term...

    contrarians welcome...