The London Open - page 164
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100 not out and the market continues to rally in celebration of Barack'scentury. At the same time US GDP only came in at -6.1% another reasonto be cheery and buy yet more stocks and risky assets. Sovereign CDS inmy world is starting to price very little default probability inanything and at the moment there are no natural buyers of CDSwhatsoever. If there are no buyers and people already have it (ie arelong), we know which way its going to trade from here! Corporates onthe most part have lagged this move however if this euphoria continuesthen its inevitable they play catch up in the coming days. It's the FOMC tonight, I mistakenly ignored the relevance of the lastone however tonight's one should be a non event unless the Fed step uptheir QE policy to accommodate corporate bonds much like the BOE. Ifthey decide to follow the BOE then the current rally we are seeing incredit can continue. Of course as a grumpy bear I don't believe thisrally at all however I do except today's price action is positivehowever you cant ignore the fact its month end the general consensus isthat everyone wants/hopes the market will rally. Month end tomorrow sousual shenanigans marks etc, followed by a very dull end to the week onMay day. Big game on the telly tonight, come on you Yellows.
Mr P......
Want to see this CABLE up to 1.4950 by friday.
Lets see what happens with the Fed.
D
Hi Dan
Mornings in the room are great, but they are now that much better thinking you look like an orangutan in a "funky" shirt and cowboy boots!
Glad you like the pic so much, it suits you!
Actually, you're kind of cute, oh ohh, bit of a crush going on...
RS
A bit of a crush???? Well if thats a real photo of you then..................!!!! (Stop it Dan!!!)
Been out for dinner with the old man and come back to no change by Fed and CABLE and USDJPY holding up well.
Come on Asia drive these two up. I should have hit GBPJPY to be honest but missed the entry.
Can't win them all. Hopefully look to add to both positions tom am.
See u at 6.30am.
D
I know a few of u r in CABLE and USDJPY so play this sensibly.
You should have banked a little in USDJPY and CABLE already and we should be able to get back in early tom.
I do expect a small retracement overnight and then get a big push tom.
See u early.
D
A bit of a crush???? Well if thats a real photo of you then..................!!!! (Stop it Dan!!!) Been out for dinner with the old man and come back to no change by Fed and CABLE and USDJPY holding up well. Come on Asia drive these two up. I should have hit GBPJPY to be honest but missed the entry. Can't win them all. Hopefully look to add to both positions tom am. See u at 6.30am. D
Hee hee, Dan, you're so lovely!
Ahem, just off to the cosmetic surgeon, back in a mo...
RS
Morning all
I shorted EURUSD 3 times ahead of the triple top at 1.3340. Got stopped at 52 so not a gd scalping morning to be honest. Anders and a few shorted again from 1.3380 level with stop above figure so some good pips taken there...
Making pips in CABLE and USDJPY as explained from yesterday (Sorry Murat no they didnt happen in my session but i made them as clear as possible)... Infact at least u have made up my mind. I will email all members my thoughts and charts on setups for swing trades so you dont forget what we have discussed in my morning session. I think this will help and improve what we do...This will start from Tuesday after the bank holiday...
You are all set up now for USDJPY and orders placed above resistance. Lets see how this turns out.
I do try my best and hate biting and this is probably the reaction he wanted....Arghhhhh!!!!
Anyway Murat will probably be on here criticising every trade i take from now on...
Apologies team but some people annoy me.
Speak to you later.
D
Btw we have a new template made by Lawrence H...
Its very slick, refreshes faster and is overall fantastic.
Need to test drive it for another 24 hours and will put it in shared folder in the room tomorrow.
D
Ok just recorded a video on Golden Rules using the 60min chart for exact entries and stops.
It will be sent out by email in the next couple of hours.
I think it will help a lot.
D
Well traded in EURJPY...Anders called that very well.
I am watching CABLE like a hawk. Had to hedge my long (longer term book) by shorting.
Would like to see this 1.4700 hold and 1.3200 region in EURUSD.
You know my thoughts over the next 4 to 5 days with these 2.
D