http://www.cnbc.com/id/15840232?video=1404043391&play=1

Great video from Jimmy boy as he rages against the bears yesterday…the bears respond today…

Do you think we can have a separate poll to predict what the US unemployment rate will be this Friday: The WSJ says we need to add 150K jobs just to keep it at 10% – What do you think?

Good Article from the FT re: Registration of Salespeople and Dealers — Here is the Link:

http://www.ft.com/cms/s/0/97077034-ffaf-11de-921f-00144feabdc0.html?ftcamp=rss&nclick_check=1

Great article from the OPED section in today’s WSJ –

http://online.wsj.com/article/SB10001424052748704431804574540052282519972.html

Is the forex market setting a humongous “bear trap” for all the specs out there who are jumpin’ on the “band wagon” to sell the greenback; and even more near-sighted is the total lack of coverage by the business media to the spec gold bubble, which is rapidly developing …My question: Do you think the financial markets are buying the Dow and selling the USD because of this spec gold buying?

The commodity specs have taken control of the fate of the USD as our wonderful government just looks on and waits…for what? The USD collapse hinges on the SNB as EUR/CHF breaks 1.51 – I can’t believe we are relying on the Swiss for anything more than good chocolate, watches, safety, and neutrality…?

All he** will break loose – Expect the dollar to hit new lows and all commodities to overshoot especially gold and oil —Sufficed to say, all the right money will be in these currencies…but be careful of the “rubberband effect”…

Today I have seen an new chapter in the ongoing saga of the USD’s identity – Namely, since the business media portrays labels for every financial instrument; The USD has had a distinction of being called the “reserve currency”, the “safe haven” currency, the new “carry trade” currency, and now the “QE” currency meaning since interest rates are so low and so many dollars are printed by the FED, the next phase of the US economy will be inflationary…No one has tried to stem the tide of USD dollar weakness except a half-hearted attempt by Mr. Geitner. Today is proof that bad or good US economic news will not stop the dollar’s slide…The Swiss government is the only sovereign to boost the dollar by selling francs…BTW – the swiss franc has officially taken that title (safe haven) away from the USD at least until the FED begins to raise interest rates…We need Obama to jawbone the dollar – What do you think?

As summer winds down and the “big shot” traders come back to rule the roost; we small spec players have to thank our lucky stars for these two residuals of summer trading:

1. Range trading played by the big name computer systems — So organized, efficient, synchronized, and PREDICTABLE..This is where being diligent and observant of each currency pair ranges and the many range breaks can help us make a handsome profit.

2. Algos and related software…of the “real money” firms activated in the summer to avoid unnecessary risk and maintain the ranges of the forex market.

It is within these two parameters that we spec traders can make a wonderful profit…so much so that I am seriously thinking about just trading July and August (on a large scale) in the future..

Let me know your feelings about this trading trend and how your trading book did this summer..

In the words of Gerry Davies- Now is the time to enjoy your cans and don’t give it back in September–

In my humble opinion the SNB/BIS are playing a sneaky game of relative strength – regarding the USD and EUR.. On earlier interventions they have tracked EUR weakness at 1.50 and 1.51 levels while in June they played the USD weakness as an entry point.. This time I believe they will “slice in” again at the breach of the 1.0540 USD level last attained in December…What do you think?

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