Euro and Bloomberg

This is a discussion on Euro and Bloomberg within the General Trading Chat forums, part of the Reception category; Originally Posted by ukdaytrader On coco the clown, much like market direction don't fight it , embrace it. The market ...

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Old Jun 3, 2009, 9:27am   #11
 
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Quote:
Originally Posted by ukdaytrader View Post
On coco the clown, much like market direction don't fight it, embrace it.
The market direction is up.

Unlike some thinly traded stocks the type of people who follow tips on bloomberg do not have the monetary power to move a currency pair. no one in any bank would deal on the back of a bloomberg tip....you'd be laughed out of the door.

HEAD DEALER "why have you done $10m on EURUSD"

DEALER " Cos they said it was going down on Bloomberg"

HD "You complete C***t f**k off out of this office now and don't come back you ***** ***** ****.

That's what would've happened in my office and i'm sure others agree.

To put this into context, when you watchfootball on the BBC and Alan Hansen (the so called expert says "Everton should win this one" Do you put £250 on them?

They may be right but i wouldn't take a blind bit of notice of any of them. Especially one telling you to short something as it's rallying, at least wait for it to start falling before calling the top!
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Old Jun 3, 2009, 9:29am   #12
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ukdaytrader started this thread You see now is the decision time......It is around 1.428 this could be a Bloomberg effect so is it better to cash in now or should I wait for market direction. I will wait till the end of the day, if there are not more tips I will close out, that is if it is still in profit.

The thing is you dont know if someone made that statement on TV cause they thought they missed the rally wanted to go in and thought saying some nonsense would give them the opportunity to get in cheaper as there would be a blip in the price before the Rally continued.
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Old Jun 3, 2009, 9:31am   #13
 
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You are deluded....BLOOMBERG TV cannot move the currency markets. Maybe an illiquid stock but not a major currency.

With this trade, now you are in profit i would have my stop at breakeven becasue and rally would probably signal a continuation of the upward trend and make this a pullback.
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Old Jun 3, 2009, 9:39am   #14
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ukdaytrader started this thread Look Look, they're moving them.......Foredog.....I dont believe for a moment they do.......but the channels acts to prompt analysis of key trends, companies, stocks, results etc.

A lot of this analysis is down to my own thoughts / research, but I do use this the Channel as a prompt for things that may move......I then go away and do my own research before acting as there have be a few 'dogs' on there as well.
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Old Jun 3, 2009, 9:40am   #15
 
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good trade, not sure i agree with your entry but you can't argue with 50pts profit.
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Old Jun 3, 2009, 9:51am   #16
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ukdaytrader started this thread I still think there is massive movement to go.........the basis of this is that the US have sorted out their problems with the banking very quickly, and now will focus on employment, once the wheels are greased to the machine you can then go ahead and focus efforts elsewhere.

Europe is behind the act a little, they didn't have a huge banking problem but they did not prompt much fiscal stimulus. interest rate reductions as quickly as they should have done. I therefore think there is further downward rate reductions to go. It also looks as if the US is going to be first out, which should prompt cash flows to American equities.

Im going to hold till around 1.38 may be a mistake!
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Old Jun 3, 2009, 10:04am   #17
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You don't understand the dynamics of the risk trade yet do you?
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Old Jun 3, 2009, 10:18am   #18
 
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This is an on-going discussion...

Yes, the US is the first out, but, guess what, they're also the current leaders in the currency race to the bottom. Devaluation of USD suits them just fine and they're taking steps towards that more than any other economy. In particular, EUR, for a whole variety of reasons, will probably be difficult to devalue. Whether that then becomes very negative for the Eurozone economy and leads, ironically, to the weakening of the EUR remains to be seen.

BTW, you should be aware that for every strategist (such as the UBS feller) that recommends one thing, there's another one that would suggest the exact opposite. For instance, the HSBC guys are firmly holding to their long EUR view.
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Old Jun 3, 2009, 11:02am   #19
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ukdaytrader started this thread In the medium term over then next say 6 months, I do think that there will be strengthening of the USD against the Euro, simply because of the first out reason and mainly due to the slowness in which the ECB reacts due to the different cultures and economies operating with the Eurozone.

Eurozone still has issues around implementing fiscal policy for example change in tax rates where each country tax rate, in contrast UK and US are able to implement policies quicker during problem times....as now. Where they're in the s*** it takes them a long time to figure it out and even longer to decide what to do.

Long term you are right this then has a equalization impact in so far as exports out of the Eurozone do become cheaper.

US may favour devaulation but as main reserve currency its not going to happen for some time....and when you got pri*ks like Silvio Berlusconi running countries would you invest in that currency ?
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Old Jun 3, 2009, 2:46pm   #20
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ukdaytrader started this thread For those that missed it there is still some room, it looks like Europe is in the doldrums
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