AUTOREFRESH 
Merkel pushing for transaction tax as well
By Jamie Coleman || May 18, 2010 at 17:18 GMT
|| 10 comments || Add comment
Our friends at Market News tell us that Merkel is also pushing for a financial transaction tax at the upcoming G20 meeting.
Revenues will be much lower than expected if there can be no short-selling of stocks and bonds… 
EUR/USD has dumped down to 1.2290 as the market asks “why now” on the short-selling ban…
I don’t mind paying a transaction tax if the government will bail me out when I make losing trades. Seriously, governments are hell bent on destroying the economies of their countries, it seems.
NICOLAS say something before Angela f**s up everything again !
There is something up with this ban … doesn’t pass the smell test
So much for yesterday’s bottom picking adventure.
Agie, Angie, where will it lead us from here? With no loving in our souls and no money in our coats you can’t say we’re satisfied! But Angie, Angie, you can’t say we never tried….
Yes, simply a case of not being able to take the rough with the smooth.
( And I suggest the smooth has been the gigantic holding up of the markets a la Ponzi scheme style ).
I am very much an advocate of free markets but would concede there may be a case for exceptional circumstances where this sort of intervention can be justified. However, I do not think these are exceptional or defensible circumstances, and that in this case the law of unintended consequences will defeat the stabalisation they are trying to achieve and indeed may even make it worse.
It is very tempting to look for a bottom but my 2cents.
That daily hammer yesterday was very small relative to the downmove and momentum we have had, It doesn’t seem enough to turn this big ship around.
Also the all-time low at 0.8228 in October 2000 and the all time high at 1.6040 in July 2008 so that means the 50fib is at 1.2140 … and the 1.618 fib extension of the last swing is around 1.2165
Those are big levels I would like to see touched before building a long.
Well Nicola you should only have to wait a few more minutes…
I think trying to catch bottom and top are definitely not for day traders. You might win once but get burnt number of times. I learnt it hard way. Now trend is my friend!! Which ever way it is.
1.2260 seems protected for now. Lets see how long it holds. If hold then Double bottom theory again!!