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normally I would say yes but because so many college graduates have such hefty loans to pay back (22K is the average ) I am not sure like I said how many out there are willing to take the risk.
a bit off topic, I just got my bank statement and I got charged 2 bucks to make a balance inquiry at a different banks ATM!I didn't even withdraw any cash. I really think there should be a period of about a month where people withdraw their cash from their checking accounts so that on a particular agreed upon day a bunch of checking accounts have very little money in them and on the same day people be encouraged not to use their credit cards. The banks are fighting tooth and nail to have restrictions put on their excessive predatory fees and charges. Nothing is going to change if people don't take a stand that they ( the banks ) feel. If enough people are supportive I will get the ball rolling. We have that power now because of the internet.
yeah that supply of eligible first time buyers is going to dry up pretty quickly I imagine. Most young people are loaded with student loans, the job market for them is lackluster to put it mlldly, I just can't imagine that there are that many of them out there to take advantage of the current environment.
looks like USD selling pretty much across the board at the moment.
it was a bit of a mixed bag, number of sales dropped by more than expected but prices rose a bit more than expected.
lol you should take the rest of the week off. Not from the board but from trading go out enjoy the really nice weather that finally has arrived.
existing home sales I got it wrong I'm so sorry but they dropped 3%. And congrats on an amazing week!
housing starts at 10 us eastern standard time about 5 minutes....
oh that hurts. The announcement that they ( Britain ) intends to increase its debt load more than was expected just killed the Pound and the Morgan Stanley numbers killed the USD/JPY so double down for the gbp/jpy.
I want up but it is four hours later now.
I think in a way that may be the goal to shoot for, it may take a few years but if you can hold onto enough capital through the cold periods and then really strike when your hot again I think a run that nets a nice chunk of cash is entirely possible.
lol if you only knew, I call myself that but for other reasons.....there isn't much out there I haven't "recovered" from, I could gladly let recovering from things be all in the past now though. Thanks though for the encouragement and kind words. It always helps.
I totally get that impatience it is actually part of what is hurting me now.
you want to trade my account? I can't get anywhere for more than a month now. I am cold cold cold.
way too much IMO you would wipe yourself out in no time. I trade 70 cents a pip on a $1k account. I might have two and maybe even three trades open at that, but especially lately with things so volatile you can lose 70 bucks quickly. If you traded 10 bucks a pip and you have 200/1 leverage it would cost you $500 just to play minus what you lose on the spread, it moves another 48 pips or so against you you have lost half your account.
plus we don't know what or who is behind the supposed leaks. Could just be some hedge fund looking to make a buck.
I was wondering if that had something to do with it but I didn't think they relaxed them that much. Who knows, well we know who knows but it ain't us.
yeah that is why I closed out the one small position that I started. I think I need to spend time doing something else for a bit until the dust settles on all of this, too crazy out there.
and yet I am reading the earnings press release of BofA I get this surreal feeling like they operate in some alternate universe, where the last two and a half years hasn't happened.
maybe long AUD/USD?
yeah and about a minute before I had started to scale into a long gbp/usd thinking it would be a safe place to start. But if the tests are as bad as rumored that changes everything. And of course further undermines trust when banks are coming out with "profits" are they ok or not???
lol me too! took an unpleasant hit on the gbp/usd last night. Was at about b/e at midnight US est, woke about 3 to see I was down 70 pips and just took the loss. Glad I did as it dropped another 150 from there while I slept but still not a great start to the week. Plus my daughter discovered last night that her debit card info was hacked somehow and 450 in expenditures went through on her account. She caught it in time so she has a bit left til payday but who knows how long that takes to get back and in this household that is a lot of essential money to have disappeared.
one has to wonder what people are thinking about so swift a return to profitability of the banks. I think this creates further distrust in the US financial system and their partners in government.
I am getting hammered in a long gbp/usd.
Well part of it just has to do with population, we all yearn for a simpler time but the biggest difference is that there are so many more people with ever diversifying expectations of what government should be. Even the no big government people are almost always happy to get whatever tax payer money they can for their constituents. Very few in reality want less government what they want is limited government that meets their priorities. In the meantime I want to go help the lady growing vegetation to reforest the Himalayas. "and now for something completely different...."
would it be just too impossible to bring free market principles to government spending as in have people when they pay their taxes earmark those dollars to where they want them to go? You have the basic departments, health and human serives, defense, public works, education, and they operate with the dollars allocated to them or have the programs run at the state level and the states get back the money depending on how it was allocated by that states taxpayers. Social Security is another question.....
I was talking with my sister last night and even she is starting to think there is something awry in all that has happened. As she put it she doesn't usually give any credence to "conspiracy theories" but...
"Meanwhile, Goldman Sachs announced a huge jump in profits from fourth-quarter 2008 to first-quarter 2009. But as analysts quickly noticed, Goldman changed its definition of “quarter” (in response to a change in its legal status), so that — I kid you not — the month of December, which happened to be a bad one for the bank, disappeared from this comparison."
ok I put in an entry order for eur/jpy sell at 129.79 I kind of was interested in seeing if it fills during the time on Sunday when things are moving but FXCM isn't open.....of course it has to get there.
lol who put up the smoking monkey?
"Fortune Cookie Says: "Pray for what you want, but work for the things you need." I like that. That is good advice.
or I might just blow it.....
I am thinking of doing the same, I am going to try and hold out for slightly better prices though.
lol when I lived in England there was BBC1 BBC2 and ITV. Actually I also like the UK Telegraph but during the trading day you have to pay attention to mainstream headlines to see what is driving things. I had a brain blip though and forgot what that media is about you are right mostly for show and manipulation.
Oh where are you hearing that? that is what I think, I think we see a double dip recession and the second time through may be much worse because we aren't going to have the resources to carry us through and people are going to feel knocked between the eyes. I just don't get how you can talk turnaround when you are expecting employment to continue dropping. You are going to see more foreclosures, housing prices dropping even more, further slowing of spending. Anyway now I feel less crazy lol.
My patience is being newly tested as the only way to play this market is to wait for bottoms or tops before going long or short otherwise the entry is just a gamble as things are just swinging back and forth with no rhyme or reason. So unless you want to go through big swings in the trading account weathering a wrong entry you gotta wait.....
I really hope that people aren't chasing stocks at least not the buy and hold crowd because I think they just end up getting hurt. I can't help but feel the equity markets are being manipulated, rising for no good reason, things may not be getting worse quite so quickly but they are still getting worse for the most part so a turn around is still quite some time off. All the pundits and Fed cheerleaders saying things are going to start getting better why on EARTH is anyone paying attention to them? they miscalled this crisis from the get go, first in complete denial then tempered views on the extent of the crisis, not until things were in utter collapse did they seem to understand that things were really bad.
there are other people here better qualified to answer that. I trade larger fundamental macro economic trends but that doesn't always work and lately it is getting me nowhere, there are skilled chartist here that can take advantage of any trading environment in fact just about everyone on the board other than me lol. Good luck to you!
wonder if euphoria blows out of the markets today. Data still dismal the rate of deterioration may be declining but to be bopping around this levels for some time to come will be nothing to cheer about. Plus foreclosures are going to rise again quickly now that the moratoriums have passed. And with housing starts so low that may preclude new housing from adding to the glut but that also means of course less jobs.
Edit they are not going to allow that kind of hedging pretty soon so don't rely on that as a strategy going forward....someone posted about it yesterday I think. I will go back and try and find the post. Here it is Daiello posted it:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37063535