Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, February 17, 2009

happy to be done

the big land mines are the daytraders running in and out... and tight stops..

the trick is going to be telling the difference between that and the reversal.

4 comments:

Tony said...

Your boy Terranova is looking sharp today... it must be new hair gel.

Fundamental analysis of foreign currencies? What the hell is he talking about?

Maybe I'm missing something. If natural resources are the "safety play", or if you like natural resources, then just buy natural resources. Why bother with the Canadian dollar? FXC as a trade or an investment?

Am I missing something?

Eric said...

You missed friday when mackie said "Even the Liars are posting losses."

and Terranova got defensive.

You know, I only watch the first 10 minutes. Like you say, after that they start talking Fundies and I want to throw my shit at them.

Teranova is "Risk assessment" for some dodgey firm of 4 drunks.

That doesnt' sound too bad...

If-> Inflation -> Basic Resources -> Canadian dollar(Canadian economy is mostly resources)
Else -> Deflation ->Currency ->Canadian dollar

to be honest that sounds like a fully hedged play...

Eles ->deflation-> Be in the USD.

You have a great rant though, I want to hit him most the time... I do like to think of him as "your average wallstreeter".

remember frontline is all about the credit crunch tonight... it will probably put a shame to the cnbc special

Tony said...

Volume not heavy enough for capitulation. SPY still more than 3 pts away from the Nov lows. (DJIA hit it.)

I say we have another down day tomorrow. Except maybe the QQQQ recovers. I bought some QLD at close (probably dumb move.)

Eric said...

What needs to happen is this, we go down and test the "Intraday" lows, We bounce hard... move sideways...

Break the intaday lows, and bear trap them below it.

But I say.....thursday/friday/monday or so.

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc