Forex Futures Forum Archive for 07/22/2008

Syd 23:14 GMT July 22, 2008
US car giants go small and electric
Two of America's largest car manufacturers are furthering their ability to cope with the high price of oil - with plans to work with electricity and with smaller cars.

GM, whose first electric car, the Chevy Volt, is due to roll off the production line in 2010, is working with more than 30 power companies across the US to study the implications of a mass fleet of electric cars on the roads.

Ford, which has focused on 4x4s and pick-up trucks, is set to shift its focus to smaller cars to win a larger share of an overall declining market.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/23/cncars123.xml

Syd 22:45 GMT July 22, 2008
Chinese scams target UK firms
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/22/ybscam122.xml

UK Alex 21:26 GMT July 22, 2008
MarketWatch: Tropical storm Dolly upgraded to Category 1 hurricane, nearing Texas

KL KL 20:59 GMT July 22, 2008
Mamun

Still long the dips game ....my Ftse long from last night after having uncomfortable sleep now suprise to see 100 pips gain. Like growing money. Went to sleep hope for the worst but looks like the bulls wants more than a few days rally. After 8 weeks of pain we need to give them 2-3 weeks of victory to encourage fresh money in.

We on the other hands need to play like Pro ...to long and short....follow the warship!!

UK Alex 20:53 GMT July 22, 2008
XLFHU

dc CB 20:44 GMT July 22, 2008
nothing has changed except the players minds.
imho. there's a ton of hot money coming out of commodities. take a look at financials: short interest, waterfall charts, same money that was long commods is short financials. If you want to get the most bang for your hot money, cover your shorts and go long in a big way to force rally. 750 dow pts in 1 week, 77 snp.

UK Alex 20:37 GMT July 22, 2008
London Mamun 20:34 GMT July 22, 2008
Could be defensive action in case it does pass. Seems most likely.

London Mamun 20:34 GMT July 22, 2008
UK Alex 20:27 GMT July 22, 2008
all losing. good is some of them not worse as expected.

why people think of rally? what has changed ?

UK Alex 20:33 GMT July 22, 2008
Think some big bets are being placed on this bailout plan being passed very soon.

dc CB 20:29 GMT July 22, 2008
in my twisted conspiratorial mind...knock the crap out of oil, get the dollar up some, drop prices at the pump, take the chokehold off the consumers neck for a while, unload somemore stock to the bottom pickers.
Get the doom and gloom headlines off the front pages. Little over a week before 'vacation month august' rolls in; everybody wants to take off. Vacation like it's 2001...no worries.baby. Just wait til september.

London Mamun 20:29 GMT July 22, 2008
dc CB 20:19 GMT July 22, 2008
we are far way from bottom, today i was in a seminar , people think snp will fall around 1100 in few months.

and may fall bellow of previous low by aug 2009

closed 1/2 dow and snp rest stop at 11635 and 1278

UK Alex 20:28 GMT July 22, 2008
dc CB 20:19 GMT July 22, 2008
Agree, MSM doing a pump again so shorts can reset.

UK Alex 20:27 GMT July 22, 2008
Thanks Mamun.

*WaMu reports quarterly net loss of $3.33 billion

London Mamun 20:23 GMT July 22, 2008
UK Alex 20:13 GMT July 22, 2008
it is a short cover rally, more may be tomorrow.

silver,gold,oil long position closing i think by friday more to close
stocks short position also closing till friday.

dc CB 20:19 GMT July 22, 2008
seeing this stuff again just like last week. Short covering or what has changed besides another Barrons(Murdock)Bottom is in story.

ETF Leaders:
Regional Banks- RKH +10.0%, KRE +5.9%, Commercial Banks- KBE +9.75%, Broker/Dealers- IAI +8.05%, Homebuilders- XHB +5.45%, Finance- XLF +5.65%, IYF +5.5%, Retail- XRT +4.7%, RTH +2.85%

UK Alex 20:13 GMT July 22, 2008
dc CB 19:48 GMT July 22, 2008
Financials rallying on the bailout plan?

London Mamun 20:11 GMT July 22, 2008
kl kl
was waiting for 11600. sold with tight stop. may be will stopped out at night. leave it to you ?

London Mamun 20:04 GMT July 22, 2008
sold nas 100 at 1818 stop 1831
also sold citi at 21 stop 21.35

London Mamun 20:01 GMT July 22, 2008
SOLD DOW AT 11600, STOP 11635
sold snp 1277 stop 1281

dc CB 19:48 GMT July 22, 2008
impressive recover for the dow an snp after yesterday's afterhour puke-a-thon.

hk ab 19:25 GMT July 22, 2008
Let's see if 940 gives off or not.

tomorrow HSI must open above 23000......

madrid 18:32 GMT July 22, 2008
NEW YORK, July 22 (Reuters) - A massive $3.2 billion trading loss on oil futures and derivatives sank high flying energy trader SemGroup LP, which at one time billed itself as the 14th-largest private company in the United States. guardian.co.uk!

UK Alex 18:31 GMT July 22, 2008
*MMS: Dolly Shuts In 60,621 Oil B/D In US Gulf

Nothing to worry about.

UK Alex 18:00 GMT July 22, 2008
dc CB 17:25 GMT July 22, 2008
Breakeven 254 bps.

hong kong nt 17:53 GMT July 22, 2008
AB -- gold 977 is pivot resistance derived from weekly chart. strong rejection there may imply short term weakness. downside swing target 920. HUI down 3% so far today.

hong kong nt 17:44 GMT July 22, 2008
hk ab 17:37 GMT July 22, 2008

oil has already corrected $20 from 147, not surprise to see some consolidation from here.

hk ab 17:43 GMT July 22, 2008
but I really don't like how they set the traps tonight.....

first go to 976 then visit 944......
Hope everyone is fine.

hk ab 17:38 GMT July 22, 2008
They want 940 printed so much....

hk ab 17:37 GMT July 22, 2008
they must know that the inventory numbers are manipulated again and drag the oil down like no tomorrow.
nt, I am afraid that HSI will not come down to the 10 dma any more with DOWJ fake rally tonight.

dc CB 17:25 GMT July 22, 2008
Treasury Auction of 20Y tips did not go so well today.
Tomorrow there's a 2 year and Thurs there's a 5 year auction.

10y yield poped to 4.128 after results
30y to 4.696.

hong kong nt 16:51 GMT July 22, 2008
AB -- expect HSI to finish bounce at 22800/23100 and continue downtrend to 17700/18000 in coming weeks.

UK Alex 15:04 GMT July 22, 2008
hk ab 14:44 GMT July 22, 2008
Time to rewire those black boxes. Hope you're listening Hedgehogs.

hk ab 15:02 GMT July 22, 2008
opened the net to SAR the gold again at around 950......

nt, the day is long, let's see what DOWJ gives us first.

hong kong nt 14:58 GMT July 22, 2008
AB -- revise HSI target from 22800 to 23000 this week.

hk ab 14:44 GMT July 22, 2008
Alex, how about a cap. for stox, oil and gold together? then, we rally everything afterwards?

UK Alex 14:35 GMT July 22, 2008
SemGroup...

UK Alex 14:32 GMT July 22, 2008
Ha-ha, Soros has Nigeria's CB on speed dial (allegedly).

hk ab 14:28 GMT July 22, 2008
Alex, if gold moves together, will we give a margin call to Sorros? LOL.....

UK Alex 14:26 GMT July 22, 2008
ab// Think we're getting a rally on Nat Gas/Crude Oil capitulation here.

hk ab 14:24 GMT July 22, 2008
Mr. mkt really testing the nerve.

UK Alex 14:03 GMT July 22, 2008
Natural gas futures fall without support from wide-spread heat or the threat of storm disruptions in the U.S. Gulf of Mexico. "The bears are searching for a bottom, and we haven't found it," says Stephen Schork, editor of the Schork Report. "I think the only thing helping to grease the skids for
natural gas (downward) is we don't have any significant weather, or calls for significant weather." The path of Tropical Storm Dolly is likely to miss energy infrastructure in the U.S. Gulf. Nymex Aug gas futures trade -31.8c, or 3.03%, at $10.192/MMBtu.

London Mamun 14:00 GMT July 22, 2008
huge buying presure,
no doubt short cover before going holiday

London Mamun 13:51 GMT July 22, 2008
released some of them. will capture again

London Mamun 13:41 GMT July 22, 2008
CITI, GM, LEH, MBI, dow and snp ALL are my prisoner

UK Alex 13:29 GMT July 22, 2008
LA Times: Fed's Bernanke holds Canadian Treasury bonds . . . just in case?

UK Alex 13:27 GMT July 22, 2008
Bernanke has been buying Canadian bonds for his retirement plan. Tells you something.

hong kong nt 13:26 GMT July 22, 2008
GOLDEN EYES

The Dow is down in the dumps,
no matter how much Bernanke pumps.
The banks, they all fall apart,
I saw poor Paulie in a nuthouse cart.

When he speaks he now twitches,
fearing more SEC snitches.
When he buys, he buys GOLD,
knowing that the buck is going to fold.

“What,” says Paulie “is going on?
I feel like a Chinese Republic’s pawn.
They told me to learn that old tonque,
to advance our message rung by rung.

But the only tonque I speak is debt,
that has been my life and bet.
The only thing that will save me now,
is certainly not that old DOW Cow.

I had a vision before I woke,
of buying GOLD or going broke.
Today I swear not to speak at all,
gotta buy some GOLD at the mall!”

How fast the mighty all have fallen,
even Greenspan now is crawlin’.
And above them all an eagle flies,
with golden feathers and golden eyes.


Source: goldtent.com

London Mamun 13:18 GMT July 22, 2008
SOLD EUR/YEN AT 169.52 WILL ADD AT 169.85 STOP 170.65

UK Alex 12:13 GMT July 22, 2008
Peston: Underwriters short HBOS

UK Alex 11:12 GMT July 22, 2008
*Wachovia slashes dividend, to shut unit after $8.9 bln loss

UK Alex 11:10 GMT July 22, 2008
A category one has sustained winds of 74-95 mph.

Tropical Storm Dolly, taking aim on the western Gulf of Mexico's coast, has strengthened slightly, with hurricane warnings for the Texas coast from Brownsville to Port O'Connor, and for the northeast coast of Mexico from Rio San Fernando northward to the border between Mexico and the U.S., U.S. National Hurricane Center reported Tuesday.

In its 5 a.m., EDT advisory, the NHC said the center of Dolly was about 295 miles southeast of Brownsville, Texas. The storm is moving west at about 15 mph with sustained winds of about 60 mph, and is expected to turn to the northwest by Wednesday. Dolly is expected to pick up strength and become a hurricane prior to landfall, bringing 4-to-8 inches of rain over much of south Texas and northeastern Mexico over the next few days, and coastal storm surge flooding of 4-to-6 feet above normal tide levels with dangerous battering waves where the center makes landfall.

UK Alex 10:54 GMT July 22, 2008
KL KL 10:45 GMT July 22, 2008
Last time it was Gordon Brown wading in with his size tens. Barrack Obama is currently on his world tour — think he is due to arrive in Israel soon.

KL KL 10:45 GMT July 22, 2008
UK Alex

Then they will have to run the old trusted Nigeria and Iran - Isreal story just in time for Inventory figure tomorrow...which I think would be consensus.....then back again to talk to rebels and see if Iran talks or Isreal Talk...


Ok in Long Ftse 5305....sl 5300....come on this is low enough....

ok out 1/2 at 5311....leave the rest at +1 pip.....so hard to trade today. Lots of not so encouraging before market figures being released in USA.......hard to long and short....

Ok out all ftse 5310....this one is freaking me out...relong under 5303 anytime again. Seems like a short the rally theme!!...imvho

UK Alex 10:23 GMT July 22, 2008
KL KL 08:57 GMT July 22, 2008
Looks like it's heading for Mexico. Chances of it becoming a category one are diminishing.

London Mamun 09:12 GMT July 22, 2008
Closed position as 6322 and 6373
It is hard to decide to go long or short Index

But oil and silver is long
Also some share just doing cross trade to minimize loss if market goes against

KL KL 08:57 GMT July 22, 2008
Mamun

I have been averaging down to 5316...and got out alive 5330....with profit...now I feel so lucky.... will relong under 5320 more room to move....the problem with today is the short term are all under the moving averages and I am not really encourage to long.......yet it seems like it wants to exhaust all weak longs with deeper and lower probe.

Maybe turn to stock picking better....or just play gold and crude.....hmmmm

its tuesday...now its the Hurricane /tornado story...no more Nigeria or Iran -Isreal story.....looks like crude wants to defend 130 this few days....still high...no reasons for indices to climb any higher...imvho.

Maybe the low is still a long way off....THE Low...

London Mamun 08:33 GMT July 22, 2008
sold bay at 229 stop 239=long VOD at 128 stop 125
long dax at 6356 stop 6335
long ftse at 5323 stop 5307

London Mamun 08:08 GMT July 22, 2008
KL KL 08:01 GMT July 22, 2008
closed dax 6364

will join you in few minutes

madrid 08:07 GMT July 22, 2008
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London Mamun 08:02 GMT July 22, 2008
KL KL 07:26 GMT July 22, 2008
all down
closed 1/2 dax at 6375 rest stop at 6407

KL KL 08:01 GMT July 22, 2008
long FTSE 5332..sl 22...lets see...

London Mamun 07:52 GMT July 22, 2008
sold dax at 6396 stop 6417

KL KL 07:47 GMT July 22, 2008
London Mamun

Probably sell the weak banks....like HBOS RBS? BARC?

I think going to be inside day so I will long near yesterday low..with tight stop loss....Maybe Ftse 5300 will be defended like DOW 11300......hard to trade with so little movement

London Mamun 07:33 GMT July 22, 2008
KL KL 07:26 GMT July 22, 2008
time to sell again.
sell bank

KL KL 07:26 GMT July 22, 2008
these 2 days ...pips/ninja killer day....not volitile and range bound....time to go for summer vacation!!

hong kong nt 07:21 GMT July 22, 2008
AB -- will cover half at 22800 and leave the rest for further observation.

hk ab 05:48 GMT July 22, 2008
nt, any tips on HSI today?

Master Hui is very bullish on DOWJ and HSI .

hk ab 05:45 GMT July 22, 2008
Let's see if HSI trust Shanghai or nikkei......

hong kong nt 05:18 GMT July 22, 2008
hk ab 04:24 GMT July 22, 2008

ema 5, 13, 62 on 1 and 4-hours charts tell upside bias.

hk ab 04:24 GMT July 22, 2008
nt, re your gold comment, may SAR gold around 969.

hk ab 04:14 GMT July 22, 2008
nt, nice call of 11600.
But the bulls seem not giving up yet.

The HSI is even stronger than the Shanghai.....
but volume is low today.

hk ab 01:33 GMT July 22, 2008
GD is not in for the whole day...