Posts by "qiman"

I only trade the futures, and there the high was .8984, does look like it may have peaked for the day. But, this contract so often goes up and down with the S and P as of late, so if there is some of the typical late day buying the Aussie could get back close to its highs. We will see, the robots out there are getting restless with this listless movement.

The second quarter is getting no respect. Only a few weeks ago, the quarter was strutting along the beach. Now even economists are kicking sand in its face.

The main focus on the data in the coming week will be the first estimate of growth in the April-June quarter.

Economists said the second quarter real growth probably came in at an annual rate of just 2.5%, down from the 2.7% rate in the first quarter.

The recovery has averaged a 3.5% growth rate since it started last summer. Just a few weeks ago, economists were looking for a growth rate in the second quarter closer to 3%, and a month before that were predicting a number closer to 4%.

Since then most economic indicators have surprised to the downside.
http://www.marketwatch.com/story/second-quarter-gets-no-respect-2010-07-25

This is an exceptional post regarding the recent Chinese credit rating of the US:

A wildly enthusiastic editorial published by Xinhua , Chinas official state newswire, lauded Dagongs report as a significant step toward breaking the monopoly of western rating agencies of which it said China has long been a victim.

Compared with the US conquest of the world by means of force, Moodys has controlled the world through its dominance in credit ratings, the editorial said...

China is not shy about reminding the U.S. who's got the biggest pockets. As the Financial Times quotes Mr. Guan:

China is the biggest creditor nation in the world and with the rise and national rejuvenation of China we should have our say in how the credit risks of states are judged.

Might Makes Right Economic Collapse

Indeed, Guan is even dissing America's military prowess:

Actually, the huge military expenditure of the US is not created by themselves but comes from borrowed money, which is not sustainable.
http://www.georgewashington2.blogspot.com/2010/07/china-calls-our-bluff-us-is-insolvent.html

With this choppy indecisive reaction across most markets after the stress test results I now am having a hard time finding viable contracts to trade, hope for some trend to develop, so much dramatic buildup, you just never know how things will react. Any great trading ideas out there? Will be watching cable for a move at the least.

Indeed, if you are "right" too early, you can enure a lot of pain. This is a manic depressive period in the market, so each day can bring major mood swings and surprises, time to be nimble.