We just opened a long position in the EUR/USD pair @ 1.46616
Our Stop Loss is at - 170 @ 1.44916 with an ultimate target of 1.5
Wednesday, September 24, 2008
New Longer Term Trade Entry
We are shorting the USD/CHF @ 1.08885 with a wide stop of -200 pips @ 1.10885. Our ultimate target is 1.04885 +400 pips
We Have Entered a Few Longer Term Trades
We have entered into a few longer term, 18-72 hours, trades.
The bailout plan is not going to get rubber stamped, as is, and that is spooking the markets. We believe the Pound and the Aussie dollar could benefit from this, and we think they still might have a nice pop left in their rally. We have some wide stops on these trades as well as wide ultimate targets, although we will take profits, if any, before targets are hit if we see any change of trend.
So we’ve opened the following positions:
Long
GBP/USD @ 1.8595 with a wide stop off 200 pips at 1.8395 Target 1.90
GBP/JPY @ 197.10 with an even wider stop of 300 pips at 194.10 Target 202.10
AUD/USD @ 0.8382 with a stop of -150 pips @ 0.8232 Target 0.8642
The bailout plan is not going to get rubber stamped, as is, and that is spooking the markets. We believe the Pound and the Aussie dollar could benefit from this, and we think they still might have a nice pop left in their rally. We have some wide stops on these trades as well as wide ultimate targets, although we will take profits, if any, before targets are hit if we see any change of trend.
So we’ve opened the following positions:
Long
GBP/USD @ 1.8595 with a wide stop off 200 pips at 1.8395 Target 1.90
GBP/JPY @ 197.10 with an even wider stop of 300 pips at 194.10 Target 202.10
AUD/USD @ 0.8382 with a stop of -150 pips @ 0.8232 Target 0.8642
Monday, September 22, 2008
Destroying the Dollar...........Maybe the Amero is for Real
They talk about "breaking the buck", well you could call the Bush Presidency an attempt to "Destroy the Dollar".
Bush had the responsibility to monitor those in charge of the economy. He's gone thru a few Treasury Secretaries, each time one of them told him he had to raise more money(read taxes) to support the wars, they were fired.
Anybody with a brain could've realized the explosion in real estate was being fueled by imprudent lending, over supply of artificially cheap money, and rampid fraud. The government knew the GSA's needed tighter overseeing 4 years ago, but the administration was too busy chasing Saddam Hussein.
Now after the money we're going to have to print to cover this bailout gets into circulation, what do you think is going to happen to the dollar? The more supply there is of something, even a currency, the less its worth. The future of the dollar is very murky. They is a very real possibility that US Sovereign debt, may actually get downgraded by the major rating agencies.
The Amero?..............No there's an idea George.
Bush had the responsibility to monitor those in charge of the economy. He's gone thru a few Treasury Secretaries, each time one of them told him he had to raise more money(read taxes) to support the wars, they were fired.
Anybody with a brain could've realized the explosion in real estate was being fueled by imprudent lending, over supply of artificially cheap money, and rampid fraud. The government knew the GSA's needed tighter overseeing 4 years ago, but the administration was too busy chasing Saddam Hussein.
Now after the money we're going to have to print to cover this bailout gets into circulation, what do you think is going to happen to the dollar? The more supply there is of something, even a currency, the less its worth. The future of the dollar is very murky. They is a very real possibility that US Sovereign debt, may actually get downgraded by the major rating agencies.
The Amero?..............No there's an idea George.
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