Friday, 30 September 2011
Thursday, 29 September 2011
Wednesday, 28 September 2011
(politically at least) and Europe is left wanting in their hour of need.
George Papandreou ( below) - the grandson of the Prime minister 'Papandreou' who Churchill backed (at the great expense of other Eastern European countries who were to be left to the soviet sphere of influence-The "naughty" document etc) to save Greece from Soviet domination/influence after liberation (withdrawl) of German occupation forces in 1944 and the subsequent civil war /ELAS and EAM .British troops ( sizable numbers) fought in Athens in 1944 principally to prevent a communist takeover...churchill could already see Uncle Joe's intentions and sadly FDR's health was in serious decline.
This family of Papandreou's has presided over the Greek political scene for many generations and has to be the main reason of why Greece has been pulled backwards from any chance of social and financial transformation, political independence or any progress- always by one and another of the Papandreou family..........
No trade setups -we could see Dec Dax retest 5600 on the downside. the pink dashed line in the DAX chart is a trigger line from a high TF fork that is not visible here but the TL itself has kept showing up at the major tops...It looks as though we may see a short setup later after the US opening.
Tuesday, 27 September 2011
One much overlooked aspect of charting(along with the dimension of 'time' itself) is the question of whether to use logarithmic or arithmetic scale charts. This is of particular interest for anyone out there using linear lines- trend/reaction/multipivot/Andrews forks etc. In this particular case we are looking at the reaction line in thick brick red in the above charts of HG Copper. left chart arith/right chart Log
The chart below is a normal or arithmetic-scale chart. Note the Y-axis values are equal distance apart. You can also see how the reaction and median lines appear much differently from the other chart. It is often necessary to keep re-drawing reaction lines (as I have do) on both artithmetic and the log charts, which can lead to some extremely impressive correlation between price and the reaction lines on a ultra low time frame like 1 min- where i choose always to enter a trade regardless of if it is a short term intra day trade or a 'keeper' ie, a position trade to be held for days/weeks. The reasonfor this is i do not have deep pockets for stops and those traders (John Crane for example) who place their stops so far away from the market you need to get on a bus to visit them I often suspect of being educators first and traders second( if at all)! As the saying goes...Those who can trade- those who can't teach.
Great care should be taken to find the true location of a median/reaction/warning etc line and the phenomenon of a line exisitng in two different chart postions and having a visible reaction in each seperate location is one secret i observe every day.
left Arithmetic- right Log
(and you know on the whole what i think of Gurus ) with his complicated
chart pattern 'Three peaks and a domed house'. However Ed Carlsons book
(George Lindsey & the art of Technical analysis) has some very interesting nuggetts not least the 'Lindsey timing model' and various counts and cycles. This is certainly complementary for exponents of Babson/Andrews & co. His patterns are also in there.
The whole is not the sum of the parts , but both the whole and parts labour under similar influences".
His Principle of equalisation: "When one formation falls short of the normal duration, the next one equalises the total elapsed time by becoming longer"
On another point...check this trader out...doom and gloom..
THE END IS NIGH!
(not really..It's just the end of the Euro (as we know it) and the begining a new bear market)
Friday, 16 September 2011
and our website site
Thursday, 15 September 2011
BOSTON (MarketWatch) — Early last summer, as the Dodd-Frank financial
reform bill moved through Congress, Adam Strauss looked at what was going on and was disgusted.
Strauss is co-manager, with his brother Joshua, of the “socially responsible”
Appleseed mutual fund /quotes/zigman/442173 APPLX 0.00% , based in Chicago.
And they were so appalled at the way the big banks were fixing the system
in their favor, once again, that the two brothers took a bold move.
They announced that they were barring the stocks of too-big-to-fail banks from their fund — on ethical grounds.
Wednesday, 14 September 2011
Where is price going? A test of 1.38 where my 1972 Fork lies which needs a retouch and represents a .50 Fib RT.
Tuesday, 13 September 2011
Dear reader, the slogan of BNP where i have my checking account here in France roughly translates as ' the bank for a changing world'. French business and real estate/property is shamfully lacking access to credit (apart from state and regional projects). It is/was
(even prior to la Crise in Autumn 2008) common for me to hear folk complain about not being able to get house loans/mortgages regardless of their income but yet BNP Paribas and all French (non mutual) banks has lent irresponsibly to the Greeks that finally the day of reckoning approaches. How many times was I told with a wagging finger.......( in a Gallic accent)
'Zee Anglo saxon banking model izzz finished and YOU and your Anglo American friends are responsible for la crise (the crisis)"
Monday, 12 September 2011
The Euro has suffered across the board against other currencies but against Cable it has taken a beating with a low of .8528
0938 GMT [Dow Jones] Espirito Santo downgrades Societe Generale (GLE.FR) and Credit Agricole (ACA.FR) to sell from neutral, and BNP Paribas (BNP.FR) to neutral from buy, on rising concerns over their liquidity profile, solvency and exposure to sovereign asset risk. Espirito Santo has screened the banks for their short-term liquidity profile, exposure to risky sovereign bonds and loans, and Basel III capital adequacy. "By our analysis, SocGen screens particularly poorly. It has the weakest liquidity profile and poor Basel III solvency," says the brokerage. Credit Agricole and BNP Paribas fare poorly too given their "weak liquidity profile" and "large troubled asset exposure." Espirito Santo cuts its target price for Societe Generale to EUR15.5 from EUR39.5, for Credit Agricole to EUR4.6 from EUR9.1 and for BNP Paribas to EUR28.1 from EUR69.4. Societe Generale shares are 9.7% lower at EUR15.75, Credit Agricole is down 9.7% at EUR4.88 and BNP Paribas is off 12.1% at EUR26.17. (firstname.lastname@example.org)
Contact us in London. +44-20-7842-9464 Markettalk.email@example.com
(END) Dow Jones Newswires
September 12, 2011 05:38 ET (09:38 GMT)