Forex Day Trader's Thread

[Pippy5000]

this might be why.. CIT files for bankruptcy

http://www.reuters.com/article/topNews/idUSTRE5A01NX20091101?feedType=RSS&feedName=topNews

 

[Pippy5000]

I'm going to try to get long ninja 88.88

 

[Pippy5000]

Euro sell stop 1.4674 -15/+15

 

[Pippy5000]

ok.... wtf just happened? EJ shot up 100 pips in 1 minute

 

[Pippy5000]

anyone hear anything? could be another drive-by in thin liquidity..

 

[Countvonaltibar]

eu daily seems to have rebounded off the 55 ema, interesting to see if it holds

 

[Masquerade]

I'm sure there was some fundamental reason behind that

 

[Pippy5000]

my broker says it was just a sloppy short squeeze.. big bank setting off stops

 

[Masquerade]

Your broker says that a lot....

 

[SSINGH]

Your broker says that a lot....

Masquerade...wtf is going on your profile page....ficking sicko!

 

[Pippy5000]

they're right a lot too.. and you are a sicko..

 

[ivantchourilov]

Masquerade...wtf is going on your profile page....ficking sicko!

Masquerade, you should probably report that, because that is rather sick.

 

[Pippy5000]

I'm short ninjer.. 89.77

 

[Masquerade]

Thanks guys - must have come up tonight. Just some nerdy scammer - little piece of crap, wouldn't dare say that to my face.

 

[Pippy5000]

this short squeeze is totally ridiculous.. if I get stopped I'll resell at 90.18

 

[Masquerade]

How do you know it wasn't a long squeeze?

 

[Pippy5000]

[sigh]


http://en.wikipedia.org/wiki/Short_squeeze

 

[Masquerade]

I understand, but how do you know the move down wasn't to squeeze out the longs?

 

[Pippy5000]

because the vast majority of the market is short.. basically there aren't enough sellers to continue so some traders who are short have to cover, thereby essentially going long .. this could continue for a while but will most likely reverse.. I'm close to being stopped out now but will most definitely re-enter the market short

 

[Pippy5000]

BLURB:

USD/JPY approaching 90.. a wicked short squeeze