Discussion in 'Trading' started by chaykapwr, Oct 27, 2011.
I am short now....1.4169
Stop is 1.421
This rise is weird. Is ECB doing the buying? Is it is just covering I would say that ET short folks are being massacred.
No, the banks that need to raise capital are being forced to buy euros as loans are called in and assets are sold off. I'm sure the usual momentum funds are in there chasing away and the robots are attributing this to "BUY ES", but that is the way it's going.
Until it doesn't.
Shorting it is stupid.
Banks selling does not make sense, because no buyers at their price and I doubt they have anything to sell that is liquid in the first place.
It looks more like ES correlation, short covering, ECB buying to print later.
I bet that ECB wants a higher euro, and they put interest on EUR higher than USD to make the interest rate differential on their side.
Fine, choose to remain ignorant.
I may be ignorant or I may not be, but I would never trust Sarkozy and ECB. I would pay attention to what they would do, and not to what they say.
Is this it? E/U at 1.4175. 11:57AM.
Another head fake: down 5 pips to 70, and up to 80. Head faking both bulls and bears?
1.42 is not too far, particularly of there are some touch options to get creamed.
I gave you the reason, you've chosen to ignore it. Smarter folks than you or I have also come up with this reason.
What if ECB is buying to make people believe that those reasons are true reasons? If they really are going to do what they said they would do, we need to see the foreign transactions, certified by independent third parties.
TJ, pls stop, honestly... You're now going beyond silly.
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