FOREX TRADERS

[Worn_Buffet]

Indeed a wise choice to begin scaling out of positions....bein that itza Fri & all & a long holiday US wknd ta boot.

Here's a copy & paste of what I've posted on the other board
today...kinda sux havin ta check & post on 2 boards now...especially since I'm on the 15 post per day budget...lol

1st post from earlier this AM over on Pip'n aint EZ


AP - July incomes drop by largest amount in 3 years

Friday August 29, 9:00 am ET
By Martin Crutsinger, AP Economics Writer

July incomes drop by largest amount in 3 years; consumer spending slowed as rebates tailed off.....

http://biz.yahoo.com/ap/080829/economy.html


What I think we have here this Fri AM is a lil greenback head fake to the north....& bein that itza Fri....it jus may very well last the next few hrs into the US close...also a long wknd in the US.

But come Sun afternoon & into the London Mon AM session....we very well may see some considerable greenback pressure to the south. I feel we're due anyhow for a pullback w/all usd crosses.

Tryin to scale out of all positions over the next few hrs into the close....dont wanna get caught bag holdin over the holiday wknd & whip sawed come PYPS (pick your pockets Sunday)...hehe

Cheers!!

edit....tell ya what tho....may not be a bad time to open a few usd shorts & risk the wait til the London open come Mon.
Maybe I'll go look for the most overbought usd chart & pounce?


& the one I just put up over there.....

I'm gonna go look a lil more into the fundi's & if they are what I'm guessin...I'll go out on a limb here & make a fairly bold call....the dollar will run into some considerable pressure from here on out thru at least the middle of next week....if not longer. Of course if any news to the contrary happens to come out between now & then...all bets are off...but if any supporting news to my call comes out....lookout below.