AUTOREFRESH 
Merkel: There have been excessive exaggerations in financial markets
By Jamie Coleman || May 14, 2010 at 19:14 GMT
|| 31 comments || Add comment
- Germany can’t turn its back when euro zone threatened
- In German interest that stability preserved
- Guarantees for Greece were to ensure common currency remains stable
- Denies waiting too long to help Greece, making bailout more expensive.
- If euro were to fail many more will be endangered
- Says she has full confidence in ECB
- Long-term stability of euro depends on political convergence
Market’s not buying the jawboning, coming under further pressure in the wake of the comments. EUR/USD trades at 1.2380.
Jaimie how am I suppose to take this Euro negative or Euro positive LOL!!! Double saying tell Merkel he’s not being straightforward enough!!!!
Maybe it’s different when you say it in German, but an excessive exaggeration belongs to the department of redundancy department, Angie. Never fear, you can always make a new bill with an extra zero on it, just like Mugabe does.
Holding my EurYen shorts into the weekend….didn’t get my 111.00 but did get my 114.00 so I’m very confident in a serious gap-down Sunday/Monday……..
S&P futures will test 1,100 in a massive gap-down Sunday/Monday
good luck 50%. I’m holding my euro shorts too for the weekend
well i retook the plunge and went long eur/usd ahead of weekend..this madness needs to stop somewhere
Jamie… are you still of the opinion that the EU may still intervene in the currency markets to prop the euro?
it’s alive!!!!
I’m with ya ZZ worth a shot
yep…i got stopped out played shorts now taking the gamble
zz: I usually find the madness ends just AFTER my stop loss is triggered…. good luck. Balls of steel to long the Euro at this point but hey if it bounces then a lot of shorties are going to get squeezed out in a hurry.
I’m long as well as of 30 mins ago
as marlon brando said in appocolypse now…the horror the horror
i’ll go long if eur/usd double bottoms monday at 1.235, probably good for a few hundred pips. i can’t start a long euro position and hold it over the weekend though, those bozos over there might say something this weekend even more stupid than trichet’s comment that a european banking crisis doesn’t fall within his brief…
only thing I want to hold over this weekend is my girlfriend
Jr The only reason I’m doing it is I’m not going to be anywhere near a TV or newspaper this weekend
zz i share your pain mate … when 1.2490 went …. i was cursing that big bad German bank!!! … btw way mate … have a look at the daily Cable chart …. Im small long @ 1.4531 stop 70
whats ur tp set at annie & zz?
no tp…im letting it ride
Same hear was going to set a stop too and decided against it. Stephen I only have a 20k position just in case 12-12-12 comes a liitle early in Europe
the end of the world huh annie 12-12-12
I better start packaging some things and fly from Spain to Australia
a .38 fib retracement would take eur/usd up to the mid 1.26s- it’s doubtful that eur/usd gets to a 1.27 handle any time soon, unless strong leadership or a credible economic plan for club med emerges…
Weyhey Annie
political convergence = my way or the highway????
funny it is intolerable and absurd when EUR is going straight down but perfectly fine when it went straight up to 152ish from 124ish last year.
Also in long EUR/USD for the weekend. Techs are screaming here ‘just a little respite you damn speculators.’ Who knows, stop at 2008 lows.
There’s more than speculation moving the Euro lower. It’s always nice to have someone handy to blame, but there is a net exit from the Euro into the Yen (as I see it, though I have no idea why – Japan needs Europe and the US). But yeah, “who dares make some money by being right, when everyone else is losing? Booo! Kill the bears!” scream the pitch-fork wielding mobs.
Hah Steve, at this point it’s longs that are speculating, thinking that techs are going to hold up during mass hysteria and the unraveling of incompetent politicians. Sometimes I forget how lucky us single players are in terms of being nimble and without allegiance. Now if I only had been more intelligent I’d be rich by now!!
Hah Yale… If if if! If only I hadn’t lost what I have lost, I would be rich too!
Seriously, I think it’s the journey itself that counts, not the destination. I make enough to live on, and hopefully retire on. I wouldn’t want to be a billionaire – imagine how much money you would lose when your underlying currency drops just 1% – that’s $10 million gone just like that! No thanks! I’ll stick to my modest lifestyle 
If I were a billionaire, I don’t think I’d risk more than a small percentage in FX. This is a high-risk, high reward game… not the place to park your net worth.
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