Euro Bear;

[mrsoul]

The U.S. economy is getting much stronger as evidenced by all the good economic news.

GDP growing at 5.7%, ISM getting strong, employment getting better, plus Greece and Portugal are weakening.

I've been shorting Euro's since 148.73 and I've been shorting on rallies to add to my position.

Profit Objective: 125.00 (3/09 Low)

Forget the 10 pip profits- I'm going for 20 points on size.

My average short price is around 144.65.

If the Euro gets back up there I will close out and break even- otherwise I will let it ride to 125.00.

The Dollar is looking like a beast and if non-farm payrolls are better than expected on Friday, the euro should get smashed again.

 

[Benton D Struckcheon]

I resumed shorting gold yesterday, which usually means the dollar will go up.
Also got a short signal on the markets in general just now through two different systems, although both are very much experimental.
Still, it would fit in with my general idea that as the news gets better, the US stock markets will go down, because they are anticipating the next Fed move, which will be unfriendly. That would be supportive of the dollar. Very much similar to 1983, coming out of the last really deep recession, when the market fell 10% when it began anticipating a move up in interest rates by the Fed.
The Friday employment report will, as usual, be very interesting.

 

[mrsoul]

I resumed shorting gold yesterday, which usually means the dollar will go up.
Also got a short signal on the markets in general just now through two different systems, although both are very much experimental.
Still, it would fit in with my general idea that as the news gets better, the US stock markets will go down, because they are anticipating the next Fed move, which will be unfriendly. That would be supportive of the dollar. Very much similar to 1983, coming out of the last really deep recession, when the market fell 10% when it began anticipating a move up in interest rates by the Fed.
The Friday employment report will, as usual, be very interesting.

Shorting gold seems like a good way to play the strong dollar and I agree that the US Stock Market might be vulnerable because of an interest rate hike anticipation.

Recently the stock market has been going up on strong economic news, however, today ADP employment and ISM was stronger than expected and the stock market went down.

Usually the market would go up on these numbers and the fact that it didn't rise on those good numbers means that the market looks vulnerable here- good luck.

 

[barryb]

The U.S. economy is getting much stronger as evidenced by all the good economic news.

GDP growing at 5.7%, ISM getting strong, employment getting better, plus Greece and Portugal are weakening.

I've been shorting Euro's since 148.73 and I've been shorting on rallies to add to my position.

Profit Objective: 125.00 (3/09 Low)

Forget the 10 pip profits- I'm going for 20 points on size.

My average short price is around 144.65.

If the Euro gets back up there I will close out and break even- otherwise I will let it ride to 125.00.

The Dollar is looking like a beast and if non-farm payrolls are better than expected on Friday, the euro should get smashed again.

This is not the kind of post i want to see on t2w having numerous shorts myself. I would've much preferred to see a post about how this 1.38 area is a great place to get long on a pin.

 

[mrsoul]

This is not the kind of post i want to see on t2w having numerous shorts myself. I would've much preferred to see a post about how this 1.38 area is a great place to get long on a pin.

If the euro breaks 138.00, it's over for the euro.

 

[virtuos0]

The U.S. economy is getting much stronger as evidenced by all the good economic news.

GDP growing at 5.7%, ISM getting strong, employment getting better, plus Greece and Portugal are weakening.

I've been shorting Euro's since 148.73 and I've been shorting on rallies to add to my position.

Profit Objective: 125.00 (3/09 Low)

Forget the 10 pip profits- I'm going for 20 points on size.

My average short price is around 144.65.

If the Euro gets back up there I will close out and break even- otherwise I will let it ride to 125.00.

The Dollar is looking like a beast and if non-farm payrolls are better than expected on Friday, the euro should get smashed again.

All those stats are garbage, real GDP is falling (if you subtract government stimulus), employment figures are completely wrong (because the mathematical model they use to calculate it is based on deeply flawed assumptions about the birth/death ratio), home foreclosures are massively understated (because banks are choosing to let homes stand empty rather than foreclose) and in general terms the US is in a death spin it has no possibility whatsoever of getting out of.

 

[mrsoul]

All those stats are garbage, real GDP is falling (if you subtract government stimulus), employment figures are completely wrong (because the mathematical model they use to calculate it is based on deeply flawed assumptions about the birth/death ratio), home foreclosures are massively understated (because banks are choosing to let homes stand empty rather than foreclose) and in general terms the US is in a death spin it has no possibility whatsoever of getting out of.

The euro is still going down despite your interpretation of the statistics.
The bottom line is that the U.S. economy is doing better than the euro economy.
Don't argue with the tape.

 

[mrsoul]

All those stats are garbage, real GDP is falling (if you subtract government stimulus), employment figures are completely wrong (because the mathematical model they use to calculate it is based on deeply flawed assumptions about the birth/death ratio), home foreclosures are massively understated (because banks are choosing to let homes stand empty rather than foreclose) and in general terms the US is in a death spin it has no possibility whatsoever of getting out of.

Regarding the euro, if your long your wrong.
It's really that simple.

 

[mrsoul]

This is not the kind of post i want to see on t2w having numerous shorts myself. I would've much preferred to see a post about how this 1.38 area is a great place to get long on a pin.

You could have made some real money instead of pissing your money away.

 

[barryb]

You could have made some real money instead of pissing your money away.

Did you not comprehend my comment? I'm short as well you bozo, and i've got a better average than you.

 

[mrsoul]

Did you not comprehend my comment? I'm short as well you bozo, and i've got a better average than you.

Good For You!!

Sorry about the misinterpretation but you get so many hostile traders on this forum, hostile because they lose money.

They love to spew venom and make sarcastic remarks as a way of feeling better.

Once again, sorry about the misinterpretation and good luck.

125.00 is my price target.

 

[barryb]

No probs, apologies for the bozo comment.

 

[mrsoul]

No probs, apologies for the bozo comment.

BANG goes the euro!!!

Look for shorting opportunities on rallies to resistance levels.

 

[mrsoul]

Minor support at 137.47.
IF it breaks that there is no hope for the longs.

 

[Benton D Struckcheon]

Sheesh.
Or, I love it when a plan comes together.
Also, sheesh.

 

[mrsoul]

Sheesh.
Or, I love it when a plan comes together.
Also, sheesh.

Did you short the Dow yesterday like you said?

 

[Benton D Struckcheon]

No, just gold, which I do through the GDX etf.
Unfortunately, and unusually, it's only down as much in percentage terms as gold itself. Which I'll take, not really complaining.
I am experimenting with shorting the market through IWM, and that's also positive, but it's a tiny position. Not ready to go live with that yet. Days like today make me like the systems I've come up with a little more for this, I have to say.

 

[virtuos0]

The euro is still going down despite your interpretation of the statistics.
The bottom line is that the U.S. economy is doing better than the euro economy.
Don't argue with the tape.

I'm short the Euro of course! My point was only that the US isn't recovering and isn't strong in any sense.

 

[mrsoul]

I'm short the Euro of course! My point was only that the US isn't recovering and isn't strong in any sense.

Perhaps the recovery isn't that strong but it is stronger than Europe's recovery and that's what matters.

 

[Benton D Struckcheon]

Perhaps the recovery isn't that strong but it is stronger than Europe's recovery and that's what matters.

Catching up on all the commentary around the web, and over on Kitco - a gold and other precious metals vendor - Jon Nadler, their daily commentator, ended with this:

Watch for continued volatility and more potential sell-offs as we near the pre-weekend book-squaring ritual and we get the employment figures on Friday. Also, keep an eye on the growing number of days the euro spends under 1.40 (now near 1.37) as PIGS woes continue to impact regional investing psychology. The dollar may not be the most attractive animal on the block, but the safe-haven shade of lipstick it currently wears certainly appears to be doing the trick, when compared to the…other investment beauty pageant candidate.