GBP/USD Classical 03.04 (Daily FX via Yahoo! Finance)

GBP/USD: The most recent bout of bearish consolidation has been broken, with declines below critical psychological barriers by 1.5000 now exposing next psychological support by 1.4500 further down.  Read More →

Are Southeast Asia central banks ready to raise rates (MalaysiaNews.net)

SINGAPORE: Asian central banks may be among the first in the world to raise interest rates as regional economic growth rapidly outpaces that in the West and fuels inflationary pressures, according to … Read more….  Read More →

Are Southeast Asia central banks ready to raise rates? (The Edge)

SINGAPORE: Asian central banks may be among the first in the world to raise interest rates as regional economic growth rapidly outpaces that in the West and fuels inflationary pressures, according to Reuters. Read more….  Read More →

Goodbye David Patterson? Governor’s Top Aide Holds Emergency Meeting With Entire Staff, Topic Unknown (But Likely Guessed)

Update: Nope. It’s not what everyone expected. MSNBC reports this is the resignation of the director of communications. It appears Patterson is sticking until the bitter end. Is this the end for troubled New York Governor David Paterson? The Wall Street Journal has just reported that “his top aide is convening an emergency meeting of... Read more...

New Greek €5 Billion 10 Year Bond Prices At 300 Over Midswaps, 326 bps Over 2020 Bund, Comes With 6.25% Coupon

The Greek 10 year bond issue priced at a reoffer of 98.942; It came with a 6.25% coupon, and pricede at 300 over midswaps or 326 bps over the January 2020 Bund. The bond pays annual interest: what are the InTrade odds that even one coupon gets made on this issue? Bloomberg notes that the WI is already trading up in the “gray market”: Greece’s... Read more...

Fannie Follow Up: Change In Lending Rules To Non-US Financials Leaves Ten Banks In The Cold

The latest on the Fannie situation, via Market News: Traders said that amidst all the rumors, market sources have cited a Fannie Mae business change that was said by sources to involve Fannie Mae restricting its non-US-bank lending in the fed funds rate market to the following list of 10 banks (US banks notchanged): Deutsche Bank, ING, BNP, Barclays,... Read more...

More Headaches For The Goldman PR Department: Here Comes The (Soon To Be) Viral Goldman Sucks Video

Yesterday we had the Cleveland Fed posting videos complete with the Ben Bernanke doodles of 3 year olds explaining how the Fed should (but does not) work. Today, we have a much more entertaining (and thus sure to go viral) 10 minute long, easily digestable summary of the firm that took the face of humanity, inserted its blood-sucking proboscis, and... Read more...

Marc Faber: "I Would Recommend People Buy Every Month Some Gold For Ever"

Marc Faber’s latest thoughts on the euro (not good), on Greece (also not too good), and gold (good to quite good). “I don’t think it will work out, and I think other countries like Spain and probably Portugal (and Italy) will then also have to be bailed out eventually, and it will lead to more monetization in Europe, one of the... Read more...

Moody’s Downgrades Deutsche Bank From Aa1/B To Aa3/C+

Barely had we finished bashing Deutsche Bank in our prior post, that we noticed that Moody’s had just notched Deustche Banknot once, but twice, from Aa1 to Aa3. Now where the hell are those pesky shorts who are #*$!ing up the grand German uberplan of trying to mimic the US in its don’t ask/don’t tell plan of financial gayness. Without... Read more...

Short Sale Ban V2 Coming? Germany’s Regulator To Require Short Financial Position Disclosure

Yesterday CDS speculators, today financial shorts, tomorrow the world. German regulator BaFin has learned absolutely nothing from America’s 2008 brush with the short sale ban, and has announced that it is tightening disclosure rules on short-selling as related to ten financial company shares, saying it “wanted to ensure the stability... Read more...

From The Rumor Bag: Fannie Cuts Off 10 European Banks In Short-Term Funding Market

From the rumor bag: Not too sure what to make of this, but this rumor is around on Chicago area short term rate desks Just heard that Fannie has cut off up to 10 European banks in the short-term funding mkt (not hearing why), meaning that they will have to borrow elsewhere going forward, thus being blamed for the movement down in price in Fed... Read more...

The Latest on PrePaid Legal Services – The Story of a Publicly Traded Ponzi Scheme?

 Every now and then, you come across a company and wonder, “How the hell are they still in business?” Well, in my opinion, Prepaid Legal Services fit that bill to the “T”. I announced what I believed to be a ponzi scheme, (see Flim, Flam, Scam: Would a PPD Ponzi and Pyramid scheme cause your wealth to Scram?, A Demonstration... Read more...

Is BlackRock The "Mysterious" Direct Bidder?

Rumors swirling earlier this morning that the identity of the heretofore unknown direct bidder may be none other PIMCO competitor BlackRock. In part these rumors have been fuelled by an earlier WSJ article “BlackRock plays it safe – Treasuries” in which author Min Zeng notes that “the world’s largest money-management... Read more...

AUD/USD Reward and Risk Assessment for Bullish Swing

The Daily time frame shows a confluence of 2 swing projections and the 78.6% retracement level near the 92.0 area, and this has been established in recent posts as the target for the current intermediate term rally. We are now in a second swing that started at 0.88. Read more….  Read More →

GBP/USD Continuation Eyes 1.45

The previous video post for the GBP/USD pointed out that the next target for the GBP/USD as it continues to decline aggressively is the 1.45 area. This week, the market has found support at the 1.4850 area, and a retracement to 38.2% materialized. The market fails twice to rally above… Read more….  Read More →

AUD/USD Stays Range-Bound Around 90

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 3/2, and 3/1lows. As for the topside, the Aussie has multiple downtrend lines serving as technical barriers along with March highs and the highly psychological .90 level. Read more….  Read More →

USD/JPY Surges After Days of Steady Decline

Technically speaking, today’s recovery is a welcome development considering the extent of the USD/JPY’s decline over the past week or so. In fact, the USD/JPY almost tested 88 before jolting back up above 89. However, downward pressure does remain on the currency pair since the BoJ and DPJ are still… Read more….  Read More →

GBP/USD Consolidates Above 1.50

Technically speaking, the Cable has our 1st and 2nd tier uptrend lines serving as technical cushions along with intraday and 3/3 lows. Additionally, the psychological .150 level could work in the Cable’s favor shout it be retested. As for the topside, the Cable faces multiple downtrend lines. Our top tier… Read more….  Read More →

E-minis

Makes a very nice 5 wave move down. It even shows alternation between waves ii (sideways) and wave iv (sharp). And wave iii has no internal awkward overlap and a nice down candle smack where it should in the middle that would form the “blue box” area.  There really is not other sensible way to label this move. Now lets see... Read more...

Elliott Wave Update ~ 3 March [Update 10:10PM]

[Update 10:10PM Although not a short-term timing tool, the "ALL IN " chart seems to reflect that, well, everyone is indeed going all in.  Parabolic in a way. Definitely a divergence in that new highs on this chart but the market is no where near its old highs. The momo machines will reach a limit.] [Update 9:15PM: Black Monday discussion. A... Read more...

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