Full time trader for myself.

This post has been edited by AdamG1981: Sep 4 2008, 05:37 PM

Billy,

There will be no demand for commodities if the prices remain high. There's no way corn, soybean, palm oil to sustain high prices when global slowdown is inevitable; not to mention chances of global depression is increasing. Same goes for oil. IF everybody cuts down on output, who needs so much oil? Even people are driving less these days regardless the price of oil.

That's why the only safe haven is US dollars because it is backed with the largest amount of gold reserves in the world and everybody trades in dollars.

That's why commodities is going down rapidly because it was a speculative bubble.

It was Greenspan and the lax regulations of housing that got us into this mess.

IT will be stupid for Central banks to try to intervene. We all know that intervention does not work at all. The market is way too big for central banks to try to save its own currency.

Did you guys recall George Soros taking down the BoE? I am not surprised if Jim Rogers and George Soros attacking the British pounds.

There's an article today about Malaysia Central Bank selling dollars to rescue ringgit. What a bunch of idiots running Bank Negara. How much reserves do one central bank have to manipulate a market of a 3 trillion dollars a day?

Bunch of idiots really.


This post has been edited by AdamG1981: Sep 4 2008, 08:34 PM

Which begs the question; which central bank has more credibility?

Trichet vs King vs Bernaeke

Who will raise and who will cut?

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Added on September 4, 2008, 8:40 pmRinggit will collapse, like what the Bloomberg posted on its site. There's an ongoing political crisis, there's a big deficit, and a high inflation rate. And of us here are shifting funds out of the country. Capital flight = 1997 financial crisis. Oh, the pain? Yes, the pain is coming due to Malaysia's mismanagement of assets and poor monetary discipline.

I'm not surprised if ringgit falls to 3.5 next week. Pffttttttt, all i want to do is SELL MY RINGGITS to the banks!




This post has been edited by AdamG1981: Sep 4 2008, 08:41 PM

He wants euro to fall because it gives the Germany and France the comparitive advantage that the dollar has given US. I think ECB is selling its own euros instead of cutting interest rates.

BoE governor.

You never know.. maybe he's the sneaky one!

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Added on September 4, 2008, 8:52 pmOUCH, jobless claims turn higher.......

USD to decline today..

This post has been edited by AdamG1981: Sep 4 2008, 08:52 PM

Surprisingly oil got softer after the release of jobless claims. Now oil traders clearly see demand destruction in OECD and emerging markets.

Typically, the price has to close 3% below the trendline to considered a firm breakthrough. But you are right, we will see it test the major trendline.

Short during relief rally. I hold an overnight position for FKLI so no margin to short EU today.

Told you guys yesterday, don't stand in a way of the DOLLAR SUPERBULL.

US dollar bull against euro and gbp.

IT doesn't matter what if against other pairs, USD doesn't outperform. The main thing is now nobody is hedging against the dollar big time.

Hey, GU was showing positve divergence all week, and look what happen, it dropped almost 400 pips.

Fundamental STILL determines the primary trend; technical analysis is just a guideline.

I woke up, and saw EU and GU new low. Wow, tsk......

Not surprised, another leg down perhaps when oil hits below 100 next week.

Going to liquidate my position on FKLI.

Strategy for today, short after unemployment report is released

Target price to short: 1.4340 (5 minute 200 EMA)

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Added on September 5, 2008, 9:23 am@mph

Hey buddy, can you show me the chart showing the next support for GJ?

Thanks


This post has been edited by AdamG1981: Sep 5 2008, 09:23 AM

MPH,

Thanks bro, how bout the chart showing GU?