7 Responses to “Trichet: Situation was very grave before bond buying program”
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AUTOREFRESH 
Jamie, what happened to your following comment the other day about fading the EUR??? See your statement: Rules Are Made To Be Broken
I counsel never to fade strong trends. Ever. EUR is in a strong trend.
This time is different. Fade it. Sell it with a stop above 1.4050 for a steep slide…trail stops lower as we drop.
Should we break the 1.3750 area, we should be good for 1.3500 in the next few weeks…Good risk/reward.
It is also likely to be painless. The stop will be hit before ya know it…
The euro pact is smoke and mirrors, like every pact in EU history. There is demand out there for euro, that’s for sure, and that is troubling. But sometimes you have to feed the chickens when they are hungry and right now they are starved…
EUR/USD trades at 1.4008.
Is this thinking all over since it hit the SL at 1.4050???
“Situation was very grave before bond buying program,” I think leaving Weber is amused.
Could anybody tell me if Japan will win or loose this battle with the markets? What is your opinion, Mr. Coleman?
Yep rance, it is.
Don’t fade the trend but I still remember when I got burnt in November, when I thought QE will trigger a strong and sustaining rally….i.e. I don’t go long until after the EU summit…
I don’t buy this Euro strength. The aggressive up, we would just as easily have an equal or more aggressive down. I anticipate we are near top for 2011. So fade the rally, good risk/ reward still on. I say good call Jamie, just the timing was off
Totally agree, the Euro strength is smoke and mirrors – it’s only a matter of time ( when Trichet confirms rate hike or not) – the market has priced the hike in – if he increase it then we’ll see a jump then retrace. If he doesn’t hike it will drop immediately. Only concern is the Libya business (and why the Europeans/Yanks are involved is another contentious matter !), which will add fuel to the Euro fire. But I still think it’s a ‘house of cards’ ready to drop (BTW, I’m short on it already….)
Good luck all… !