World economy talk

[daimengrui]

Looks like a Chinese meltdown will be the icing on the cake. China has been controlling the value of its currency since '08.

[uls]

[tidus1203]

Looks like a Chinese meltdown will be the icing on the cake. China has been controlling the value of its currency since '08.

The Chinese currency will not meltdown given the huge reserves China has which they can sell to defend the Yuan... What is problematic in China is the overheating real estate market... Bubbles like that always end up bad if they don't control it. The Chinese government is aware of this problem and has been tightening liquidity already for months by increasing bank reserve requirements... They should also raise rates too in the process IMO to stop speculation and making real estate lending expensive and thus hinder buying demand and stop the bubble and make the price go down slowly instead of a crash landing when the bubble pops...

[tidus1203]

To put money where my mouth is regarding my belief that the S&P 500 will retest the 1000 support level, I did bought 1000 shares of QID * 17.65 (that is all I am willing to risk at this stage as I am not as active in trading anymore unlike before that I monitor everyday)... My first stock trade in 3 months, wish me well!

[uls]

^^

your QID is now 17.85



--

a popular email circulating in Greece:

Billy went to Texas and purchased from a farmer a donkey, for the price of $100.
Billy , πήγε στο Τέξας και αγόρασε από έναν αγρότη ένα γάιδαρο, έναντι του ποσού των 100 δολαρίων.

The farmer agreed to deliver the donkey the next day/
Ο αγρότης συμφώνησε να του τον παραδώσει την άλλη μέρα.

The next day the farmer told Billy "Sorry, but I have bad news, the donkey died".
Την επόμενη μέρα ο αγρότης του είπε: «Συγγνώμη αλλά έχω άσχημα νέα, ο γάιδαρος ψόφησε» .

Billy replied: "No problem, give back my money".
Ο Billy απάντησε: «Δεν πειράζει. Δώσε μου τα λεφτά μου πίσω» .

The farmer said: "I can't return your money, because I have spent it already".
Ο αγρότης του λέει: «Δεν μπορώ να το κάνω, γιατί ήδη τα έχω ξοδέψει» .

Billy said: "OK, then give me the dead donkey".
Ο Billy είπε: «Εντάξει, τότε δώσε μου τον νεκρό γάιδαρο» .

The farmer asked: "what are you going to do with the dead donkey?"
Ο αγρότης ρώτησε: «Τι θα τον κάνεις;»

Billy replied: "I will hold a lottery".
Ο Billy απάντησε «Θα τον βάλω σε λοταρία» .

The farmer said with a touch of irony: "There is no way you will be able to successfully pull off a lottery for a dead donkey".
Ο αγρότης του απάντησε με μια δόση ειρωνείας: «Αποκλείεται να βγάλεις σε λοταρία το ψόφιο γάιδαρο» .

Billy replied: "Of course I can. I simply won't tell anyone that the donkey is dead".
Ο Billy απάντησε «Φυσικά και μπορώ, απλά δεν θα το πω σε κανέναν ότι είναι ψόφιος» .

A month later the farmer ran into Billy and asked him: "What happened with the dead donkey?"
Ένα μήνα αργότερα ο αγρότης βρέθηκε ξανά με τον Billy και τον ρώτησε «Τι έγινε με τον ψόφιο γάιδαρο;»

Billy replied: "I held the lottery for the donkey and sold 500 tickets at $2 each and I made a profit of $998".
Ο Billy απάντησε: «Τον έβγαλα σε λοταρία και πούλησα 500 λαχνούς, προς 2 δολάρια τον ένα και έτσι κέρδισα 998 δολάρια» .

The farmer asked "Nobody complained?"
Ο αγρότης ρώτησε «Καλά κανένας δεν παραπονέθηκε;»

Billy said: "Only the guy that won the (dead) donkey complained, so I returned his $2 so he would stop complaining".
Ο Billy απαντάει «Μόνο ο τύπος που τον κέρδισε και για να μην φωνάζει του έδωσα πίσω τα δύο δολάρια» .

Billy is now working for Goldman Sachs.
Ο Billy πλέον συνεργάζεται με την Goldman Sachs…

[Monseratto]

Billy is brilliant!

[uls]

check this out

EUR/CHF



what the hell happened?

Swiss central bank intervention

after Germany banned naked short selling, Germans pulled money out of German banks and put the money in Swiss banks

the flow of money into Switzerland was so great the SNB had to intervene to hold the CHF down

the intervention was too effective

it sent the EUR soaring against the CHF

http://www.telegraph.co.uk/finance/f...itzerland.html

The short ban set off instant capital flight to Switzerland. BNP Paribas said €9.5bn flowed into Swiss franc deposits in a matter of hours on Wednesday morning.

[tidus1203]

Yep although walang official statement, its widely agreed that the SNB entered the market sold Francs to buy Euros... That helped Euro against all other currencies as well yesterday... But as I always say with interventions, always short lived...

[tidus1203]

Classic stunt by Billy. We all know that as a pyramid scheme of sorts. Its everywhere. People do you contribute to your SSS or GSIS (if you're government employee)? Then you are part of a giant pyramid!

[tidus1203]

Natatawa lang ako, watching Bloomberg right now and the Japanese finance minister (Naoto Kan is his name I think??) is aksing the BOJ to DO MORE in fighting falling prices. Japan release its GDP which disappointed. And the prices keep on falling... Ano pa ba magagawa ng BOJ, they have done QE for many many years, kulang na lang sumakay sila sa helicopter at magtapon ng 10,000 yen notes from the sky. Now that should push prices up!

[uls]

months ago, there was even talk about AUD/USD parity

AUD freefall

[tidus1203]

Parity?? Really?? Dati in early 2008 meron!

[uls]

hehe

naalala ko around April may naririnig ako pwede daw mag parity ang AUD

[tidus1203]

There is now rumors that not just NAKED short selling will be ban but short selling in general will be banned as well...

Of course its just rumors, regardless we can buy QID. Hey its not short selling, I am going LONG QID!

[uls]

haha

tama

when you're long an inverse ETF, you're not short selling

[tidus1203]

Wow bagsak nanaman markets... 180 pt down ang DJI and yung mas minomonitor kung SP500 down 23 pts and below 1100... Restest na ito ng 1000 as far as my technical analysis tells me...

[tidus1203]

Ukranian stocks down 11% for the day

EUR/JPY - 110.02 :shocked2001 levels for the risk pair)

USD/JPY - 89.75 (below 90 again for the Yen against the greenback)

Everything is being sold, even gold! Take no prisoners! Everyone wants CASH. YEN CASH AND US DOLLAR CASH! Everything else must go!

[Monseratto]

DJI is closing on the 10,000 psychological level. Oil too is following everything, downward. Euro seems to be propped up, its still above it lowest this week...

[tidus1203]

^^Ya rumor is Swiss National Bank is trying to weaken the CHF so they're buying EUR...

[uls]

Ukranian stocks down 11% for the day

EUR/JPY - 110.02 :shocked2001 levels for the risk pair)

USD/JPY - 89.75 (below 90 again for the Yen against the greenback)

Everything is being sold, even gold! Take no prisoners! Everyone wants CASH. YEN CASH AND US DOLLAR CASH! Everything else must go!

yep

liquidation