Futures extend losses amid jobs data


and crude falls again...

Tapis should be about $10-12 above Brent.

It's not... maybe $1-$3 more.. but not that high spread.

crude now testing 44...

whole show is vicious, with high USD, low oils, uncertain local political stories, much lower foreign reserves .... wonder what else will come on next?

dows is down by over 700 points by now. i am staying aside and see see only as my coins are small and humble.

QUOTE
UPDATE 1-Malaysia reserves fall below $100 bln as ringgit slumps

"I won't say there is panic now but we are quite close," Amy Yuan Zhuang, a senior analyst at Nordea Markets in Singapore, said prior to announcement of end-July reserves.
"The falling FX reserves could be a sign that BNM is trying to limit the ringgit's losses," she said, adding that meant investors could not exclude the possibility of some form of capital controls being imposed.
In a note prior to the release, Societe Generale said that if reserves fall toward $90 billion, BNM is "likely to 'let it go'."
Societe Generale revised its ringgit forecast for the third quarter to 4.1000 from 3.8000.
http://www.cnbc.com/2015/08/07/reuters-ame...git-slumps.html

to let go = no further support and free fall?
anyway, might update my little bank book, hoping some rm might leak into my acc. lol

looking at it again ...

[ SUNE 15.77 -1.31 -8.08% ]

this fello is now lower than the usd 16 before it made a move to short over usd33 after streams of good news in opening more projects ....

sigh sigh, for bad job report market shouted bad economy and slow growth, now, for good job report the market is shouting rate rise, rise la rise la, and same effect = prices making huge jump downwards. actually, what do they want?

2 things guaranteed - gomem issue more bonds & sukuks, u pay more tax.

bloomberg tv earlier at 10pm local time was saying mat salleh are selling and holding lesser and lesser soverign bonds by alot (forgot the actual numbers). wonder who still want to buy our gomen bonds? ya, tax might be adjusted in the way they set petrol prices (without any transparency). i am paying gst from morning breakfast at Tesco till evening when i am buying sundries. my am bank malay lady friend just told me she was tired with gst. i saw it in her eyes.

when you think it's just noise, ignore it. Stay firm for your judgement.

there will be buyers. just have to pay more interest.

mgs yields have been as high as 5% before.
http://www.tradingeconomics.com/malaysia/g...ment-bond-yield

now, it's only 4.18%, can take another 200b debt, no sweat.
http://www.bnm.gov.my/index.php?tpl=govtsecuritiesyield

ya, its noise to me, but i simply dont have the guts to go forward alone while there is nobody behind me. haha, very scarry one. self belief aside, always better to go with the crowd/trend.

This post has been edited by mikehwy: Aug 8 2015, 01:28 AM

200b capability? isnt this amount is over and above our foreign reserve? ( i cant get the just announced foreign reserve figure)

there is nothing to play with current conditions.

except - short or inverse oil.

it's been almost 4 hrs, the oils bears are still cracking 44.0.

and i am getting sleepy...

no la.... <100b usd fx reserves does not stop more borrowing.

debt now is about 700-800b rm now, another 100-200b rm, can.

This post has been edited by AVFAN: Aug 8 2015, 01:37 AM

mee too. its been a taxing week. sleepy too ....

weak bear again.

losses... 7 days in a row.



crude finally broke 44, at 43.76.

next stop... 43, 42?

I'm shooting for $40.. just because it is a round psych number.

Anyway, I think next week (overall) market may bomb. The Dow already below that 200ma, next is SP500, followed by Nasdaq - the strongest so far held up by a few largest market cap stock like AMZN,GOOG,FB. Heck.. even AAPL already shaky here at 115.
What's another -10 to -15 pts to $100 later, rite? If happens, let's buy!

This post has been edited by danmooncake: Aug 8 2015, 10:06 PM

i hv no mood to by add anything new. just hold on to what i hv, which is back to zero usd roi for the year.

but... trading crude/inverse is fun.