Yep you’re right there’s definitely an element of manipulation right around the news time. I think the big boys sit out the actual major news though and leave it to the quick high-risk speculators to shove the price around initially looking for quick gains around news items. I can’t say for sure but I’d say that the order book is thinned out around those times as the big players remove their bids and offers until they’ve made up their minds which lends itself to sharper moves than normal. The bigger players need some time to look at the important data, see how it fits in with the other data they have, etc. before making their move. They’re trading big stacks of money and they can’t be diving into trades based off one headline number.
I can just see that the GDP numbers were bad and G/U has taken a header. My bet is that we see the big players start to buy soon enough as they’re looking beyond the headline number and seeing things like improving PMIs, lower unemployment rate, debt deficit reduction target being met for the year.
The REAL reason GU took a header actually has nothing to do with the GDP numbers. I told you all yesterday, the big boys were just waiting for me to close my short then it would drop faster than an old tarts knickers. And what happened???
I closed out this morning and it was Get 'em off GU !!
I’m beginning to think that I AM the holy Grail indicator everyone has been searching for. Whatever I do, you just do the complete opposite and you’ll be fine in this game. I think I’m starting to take this personally now LOL !!
You could get a very lucrative job at Goldman Sachs advising their clients on FX moves. Just check out Thomas Stolper - he’s the ultimate contrarian indicator. Wrong 100% of the time in the past year and still has a job at GS. Things that make you go hmmmm…
That mf (Stolper) the only thing he wants is liquidity from the “muppets”, they say one thing to the public but secretly take the other side of the trade…
I think GU may well still be bouncing in range from .6080 to .6165 ish. But since we are already in a little bounce I think it’s too late for me to get involved.
EU for me is sitting in the middle of nowhere right now.
Funny enough, I’ve often wondered if the “Analysts” you see from major funds and banks on the news channels are telling you what THEY are doing, or telling you what they want YOU to do.
If I was a bank, and I bought EU for instance @ 1-30, wouldn’t it make more sense for me to have my analysts appear on international news “predicting” price movements, in order to convince the cannon fodder to rush out and fulfill that “prediction” for me.
Reminds me of a story i heard about Warren Buffet a few years back…
From what i heard, he had ‘secretly’ been aquiring large amounts of Gold… After a while of his accumilation, it ‘accidently’ was slipped to the press that he had ‘recently’ acquired a large amount of Gold (this after he had been accumilating for a while). Warren Buffet being Warren Buffet, people snapped at this and started buying up Gold very quickly… Drove the price up… And what do you think happened to good old Mr Buffet’s gold deposits? lol
Well with GS there’s a certain element of their prop trading desk perhaps not being quite in sync with what their analysts like Stolper are advising. He’s their best though - 10/10 wrong last time I saw. But being always wrong is just as useful as being always right I suppose!
I reckon though Sanj, that if we are realistic about the whole thing, that is precisely the way the entire financial industry works. Guys like us are only important in the respect that the big boys use us to fill their pockets. News releases, Data releases, conspiracy theories…all designed to make us react in a certain predictable manner to the benefit of the great.
Big players have to deal with a problem we as retailers never have to… [B]liquidity.[/B]
Banks and huge funds do not need help to move the market, they have loads and loads of money to buy or sell and need a counterpart for the trade. That is why they say one thing to the public but do other in secret. so they can assure some kind of liquidity from Muppets.
I agree, were just a small pawn on a very large chess board… Like i said, i’ve been doing you less time then you HoG, but it just seems to me (so far) that the smart money already know and positions itself where it needs price to go… The news releases are just a cover up and story to fund the big movements that happen… You know as well as me how long in this thread alone we have been discussing and waiting for a drop on the GU to happen, now it could of happened any time but it happened today… Big news event day… Its a continous theme…
We as the small retail traders are not even a blip on the map, but i think the best and smartest thing we can do is learn how the smart money trade and follow along…
Maybe more than a healthy dose of cynicism being offered here, but have you ever wondered that while Mr Stolper is out in public view offering his “infinite wisdom” and advice to the lucky public, GS and groups just alike, also have a guy in the back room of the dungeons, called Mr Assassin taking the exact opposite trade after the sheep, (that would be us) have been herded to a pre-selected corner of the field?
What’s all this talk about banks employing… erm, ‘dubious practices’.
Surely some mistake. Can’t believe that for a second.
The girl behind the counter in HSBC this morning was so cute. She had big brown eyes, a lovely smile and wished me a ‘great day’. Can’t believe she’d be in on such skullduggery.
Just to clarify for the rest of the gang, that was a mistype from Sanj, there is not now, nor has there evr been, anything going on between us two other than the exchange of views on currency matters. Isn’t that right honey…I mean sanj !!
For “Mr Assassin” read the GS prop trading desk. So when Stolper says short E/U with TP 1.28 and stop at 1.34 it more likely means that GS prop desk are bullish E/U until 1.34 at which point they’ll be unloading to the bagholders.
Though in reality they can’t be all that bad at advising their clients or nobody would pay a single bit of attention to them. My guess would be that some of their calls are fine but when it comes to their specific needs at specific times they’ll get Stolper and the like to issue a bum call.
Who are you kidding ukdave, she’s the front line !! She’s the hook, the bait. Secretly trained in nightclubs throughout the world to suck you. She’s the smile on the face of the Devil. The sedative they give you so you don’t feel them giving it to you up the rear end for months.
Why do you think she is so beautiful eh? Would you so willingly sign your life away to an ugly F***er? If she had bad skin and smelled, would you really be thinking, think I’ll open an ISA while I’m here? NO!
[I][B]“She lives beyond the grace of God, a wanderer in the outer darkness. She is “vampyr”, “nosferatu”. These creatures do not die like the bee after the first sting, but instead grow strong and become immortal once infected by another nosferatu. So, my friends we fight not one beast but legions that go on age after age after age, feeding on the blood of the living.”[/B][/I]
Van Helsing - Speaking of The Devil’s Concubine. aka - The girl behind the counter in HSBC this morning. You have been warned! LOL.