View Full Version : General Chit-Chat
Bugger.............dont you just hate it when that happens...always a pip of two as well
Was that a Bear Flag trade ?
5 min garttley not perfect by any means but I had noticed that bear flag forming for sure on the slightly longer term.
could be more in it even from now as theoretically this is a wave 5 and should hit a new low ie below 63.92
............................
Clearly the situation is dire. It is deteriorating, and it demands urgent and immediate action," Obama said on Friday just hours after the Labour Department announced US employers shed a massive 524,000 jobs in December, capping a yearly loss of 2.8 million and pushing unemployment to a 16-year high of 7.2 per cent.The grim new economic data - described by the incoming president as the single worst year of job losses since World War II - "only underscores the need for us to move with a sense of urgency and common purpose," said Obama, who inherits the country's deepest economic crisis in decades in 11 days when he assumes the presidency.......................
Full article
http://news.ninemsn.com.au/world/716952/us-economy-is-dire-warns-obama
this might be interesting to some
from gann global... yes its promotional but has value in its own right
http://gannglobal.com/webinar/2009/01/15-deflationary-culminations/
Wow...trade of the week would have been to short oil.
Unfortunately these newspapers talked me out of it with phrases like "peak oil", "fundamentally oversold", etc.
this might be interesting to some
from gann global... yes its promotional but has value in its own right
http://gannglobal.com/webinar/2009/01/15-deflationary-culminations/
the webinar these guys offered is pretty interesting from an economic historical perpsective.
you have to register but I found this hour long analysis quite fascinating covering stocks bonds commodities etc.
http://gannglobal.com/webinar/2009/01/15-deflationary-culminations/replay/
they're really putting the current situation in its perspective.
this leg down is as severe in terms of time and price as ever experienced
there has never been a single leg down , sell the rallies.
commodities will then confirm the capitulation/culmination
the greatest stock buying opportunities will present themselves as they did in 1921,32,49,74,82
does not like corporate bonds
does like cash
skip from 2 mins into section 12 and you skip all the promo. the q and a's are moderately interesting tho.
United States Legal Federal Holidays
• January 19, 2009: Martin Luther King Day [3rd monday in Jan]
• January 20, 2009: Inauguration Day [every 4th year]
• January 20, 2009: Inauguration Day [every 4th year]
Obamarama ..........
dumbass
19-01-2009, 11:02 PM
hey Peat ,thanks for the charts i find myself in agreement with max on the big picture.
i think the sp500/dow is going to have a sharp fall to new lows which will complete 5th wave of c wave of major wave A.................then .......................
powerfull bear market rally retracing around 50 % of bear market so far , this could be the trade of 2009.
if max counts it as 5 waves down for A wave then he's probably expecting a zig zag bear market wave pattern 5-3-5 which will take the market down to incedibly bearish levels.
im counting it as a 3-3-5 flat which has a more optimistic low point, but count not too different.
there is too much bearish sentiment on us dollar and too much bullish sentiment on gold
i think there will be dollar strength through 2009 and gold weakness.
i think the eur will get hammered as eur rates are cut.
Currency traders opt for countries with trade surpluses
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10552794&pnum=0
i think the eur will get hammered
down 500 in the last two days!
Thought I would post a couple of screenshots from the free promotional webinar given by Gann Global that I listened to last night. I do find them very interesting with their historical overlay techniques.
Make of these what you will
http://video.google.com/videoplay?docid=-545930454338776455 (http://video.google.com/videoplay?docid=-545930454338776455)
http://www.channel4.com/history/microsites/A/ascent-of-money/index.html (http://www.channel4.com/history/microsites/A/ascent-of-money/index.html)
A British TV series on dosh/mullah/readies/coin/ etc
I'm torrenting this series... so i can watch it in glorious HD but yeh its on google vids
Some more quotes from a Gann Global page
the four major time periods that W.D. Gann tracked in each market:
1. The time period from major top to major top.
2. The time period from major bottom to major bottom.
3. The time period from major bottom to major top.
4. The time period from major top to major bottom.
"You should always figure the time from any top or high level to the next top or high point . Also figure the time from any low level to the next low level. Then figure the time from a low level to a high level and the time from the last high level down to the low level. By doing this, you will know when Time Periods balance or come out about the same as a previous move. This is balancing of time. By knowing these dates and prices, it will help you to determine the duration of the next move.
Since bull and bear markets and the sections within them duplicate decade after decade, Gann referred to it as "balancing of time." He expounded, "By watching the balancing of time and price, it will help you to determine when prices are reaching extreme highs or extreme lows." Knowledge of previous time periods provides confirmation for major tops and bottoms.
You may be able to access the whole thing here....
http://www.gannglobal.com/traders_tutorial/3-1-GGF_Course.htm
SCARY STUFF - - maybe we will soon be obsolete
"Living creatures took millions of years to evolve from amphibians to four-legged mammals - with larger, more complex brains to match. Now an evolving robot has performed a similar trick in hours, thanks to a software "brain" that automatically grows in size and complexity as its physical body develops.
Existing robots cannot usually cope with physical changes - the addition of a sensor or new type of limb, say - without a complete redesign of their control software, which can be time-consuming and expensive.
So artificial intelligence engineer Christopher MacLeod and his colleagues at the Robert Gordon University in Aberdeen, UK, created a robot that adapts to such changes by mimicking biological evolution. "If we want to make really complex humanoid robots with ever more sensors and more complex behaviours, it is critical that they are able to grow in complexity over time - just like biological creatures did," he says."
Read more
http://www.newscientist.com/article/mg20126946.600-unnatural-selection-robots-start-to-evolve.html
.
e.g. Sovereign 3, 4 and 5 year rates have gone up
They were 6.05% and have moved up so that the 5
year rate is now 6.35%.
Source (http://www.interest.co.nz/mortgages.asp)
yeh thinking of locking the mortgage for 5 years at these rates.
outspoken
13-02-2009, 06:40 PM
yeh thinking of locking the mortgage for 5 years at these rates.
Not so fast peat, the trend suggests that rates are lowest in the middle of the year.
Aside from that I believe Bank Direct, Sov and ASB have raised to bring back into line with the others because they were the only only ones without a curve in rates.
OCR announcement next Month and everyone is picking it to be trimmed if not chopped again.
Personally, I'll wait
I've locked in the 6.5% on the mortgage for 5 years now April 12th rollover. BUT, I've also transferred a larger chunk (about a third) to floating so if rates continue to fall I will benefit from that. best of both worlds kind of as long as floating rates dont skyrocket. And even if they do it just means I pay more interest as the repayment stays the same even for that one.
Certainty is good with mortgages
ANNUAL FIB LEVELS
From EWI
How many FX traders are going to this?
Hi all. Due to popular demand i have arranged for tables to be set aside from around 4pm Saturday 28th Feb. I am waiting on a reply to see if they will provide discounted drinks and nibbles. I will update on any progress.
The address is as follows for those who dont know.
Horse & Trap
3 Enfield Street,
Mt EDEN,
Auckland
Phone: 09 630 3055
Web: www.horseandtrap.co.nz (http://www.horseandtrap.co.nz/)
This a great opportunity for all to meet special people with a common interest. Its a great way to network, share ideas, discuss theories, listen to experts (im sure there is some out there) and so forth. I would also like to encourage any brokers or even people with an interest that no nothing about sharetrading.
Come Auckland.. make an effort and show up..
ps. $100 of nibbles will be supplied by myself but only if at least 10 people show up.. so no excuses
getting a bit echoic around here....
its lonely being a trader huh.
.
That Belly Button fluff gets everywhere.:)
.
'Duriig the month of October 1909, in 25 market days, Mr Gann made 286 trades in various stocks, both long and short trades. Of these trades, 264 wcre protitable and 22
were losses. Thc capital with which he operated was doubled ten times, so that at the end of the month he had one t housand percent of his original margin.'
W.D must have been working very hard without a computer to analyse the markets and make that number of trades.
Worth it though!
'Duriig the month of October 1909, in 25 market days, Mr Gann made 286 trades in various stocks, both long and short trades. Of these trades, 264 wcre protitable and 22
were losses. Thc capital with which he operated was doubled ten times, so that at the end of the month he had one t housand percent of his original margin.'
W.D must have been working very hard without a computer to analyse the markets and make that number of trades.
Worth it though!
Maybe it was easier then.
Now, everyone has a computer and can gain access to the market.
1000's of guru's etc, spreading their thoughts and recommendations
in a fraction of a second.
All Gann had to do was
Pick up the daily paper. Transfer prices to hand drawn chart.
Make a decision based on his system and place a trade with the broker.
Very few had this knowledge or even time to perform the task.
So it gave him a unique opportunity to play the market when 99%
of the populace were more concerned about making a crust.
Gann, Alan Andrews, Babson, etc - they found the secret/s and milked
it while it was limited knowledge.
Now everyone thinks they can be a guru - but only 5% can
.
ANZ have just offered to put my CC limit up from 17500 to 20000
:rolleyes:
couldnt resist this quote
ANZ is NZ's worst bank IMO. Great pity they own National Bank now.
One of the many run in's I've had over my CC account.
My ANZ CC bill was due on 24th Dec, so I transferred it on that day.
The money disappeared out of my account at NB that evening
and into ANZ somewhere.
Next CC bill from ANZ came and they had slapped over $350 interest on my account. When I rang they said it was because of 25th/26th Dec they couldn't see the money until 27th.
Right - you can imagine what I said.
Firstly they offered to reduce the interest by 50%.
I used my usual tack - "let me speak to your superior'. Yeah I'm a very PC person :D
Eventually the whole amount was deducted. But it took three months to eventually get all the charges removed, as they charge interest on interest on interest ad infinitum.
what a hassle.
I generally transfer bill payments across a day or even two earlier esp if theres some sort of penalty or discount. But it is truly fascinating in this electronic age that it only seems to be immediate if your debiting it and a day or two the other way.
trader10
01-03-2009, 07:28 PM
Back to the start
--------------------------------------------------------------------------------
Friday, 27 February 2009
Kate Haycock
DESPITE a week of up and downs and yet more Chinese plays, the market and resource stocks all seemed to end up back where they started from.
The benchmark ASX S&P-200 started at 3351 points and closed today at 3328.3 points.
BHP Billiton started the week at $29.31 and closed at $28.83, up 23c or 0.8% from yesterday, while Rio Tinto opened at $46.87 on Monday then closed today at $47.25, up 2% or 95c from yesterday.
On Monday, Fortescue Metals Group was at $2.83 and in a trading halt, by Friday close it was trading at $2.65, up 9c, and the company was (potentially) half a billion dollars richer thanks to the sale of a 16.5% stake to Chinese company Hunan Valin Iron and Steel.
The relative lack of movement came despite a small rally in metals prices on the London Metal Exchange and the growing tide of Chinese buying into the sector.
Copper was one of the best performers over the past week, rising sharply from a low of $US3115.25 a tonne to $3471/t in Thursday night’s session – an overall jump of 11%.
After hitting a new low of $9420/t last week, nickel also lifted to $9998/t, a 6% rise, before backsliding last night to $9980/t.
Zinc likewise rallied from $1072.50/t on Monday to $1121.50/t on Wednesday before trailing off last night to $1113/t.
Meanwhile, spot gold was last trading at around $938/oz after a week headed in the other direction.
Gold’s falls were due to a rally in equities and some hope that there could be an economic recovery somewhere around the corner, but analysts expect the precious metal to remain at historically high levels for the time being.
Gold stocks were, unsurprisingly, given a bit of a hard time in the wake of the precious metal’s falls, bucking the flat trend.
Newcrest shed 98c to $30.98, while Lihir Gold slipped 3c to $3.30.
Other notable movers of the day included OZ Minerals, which today released its half-yearly results.
While the company reported a very nasty $2.5-billion loss, its shares closed up ,7c to 63c, on the back of news it had secured an extension to its onerous loan repayments.
The day’s biggest gainer was Gloucester Coal up $1.01 to $4.91 after Hong Kong metals trader Noble Group swooped in with a $390-million cash bid for the company in an attempt to forestall its merger with Whitehaven Coal.
Whitehaven fell 3c to $1.60.
Coal has proven an exciting sector of late in the mergers and acquisitions area, and Felix Resources today said it was still in takeover talks – although it warned the likelihood of any outcomes in the near term were slim to none.
Its shares rose 16c to $6.82 on the back of a solid profit report.
Back to the day’s biggest movers – Icon Resources was up 2c to 7c, a 40% gain on four transactions of 116,650 shares.
Herald Resources shed a nasty 44c to 15c on only three small trades with only 2762 shares changing hands.
Finally, there were 207 stocks on Final Call’s watchlist that have not reported any trades for one or more days, with the longest non-suspended stock being untraded for 225 days.
http://www.miningnewspremium.net
Mortgage rate cuts to give us back $10b
By ROB STOCK - Sunday Star Times | Sunday, 01 March 2009Kiwi families will have a collective $10 billion more in their back pockets over the next three years as a result of plummeting mortgage costs, injecting even more spare cash into the economy than next month's tax cuts.
The April 1 tax cuts, plus last year's cuts, will return around $9b to salary and wage earners.
The $10b mortgage estimate comes from Westpac. The bank analysed the country's entire mortgage debt and found that $98.47b in fixed-rate home loans - with an average interest rate of 8.51% - will mature by the end of 2010. If those loans are refixed at an average of 6%, the homeowners will face much lower mortgage repayments. Add in the effect of falling floating-rate loans and there will be an estimated $3.5b a year for three years freed up.
The figure could be even higher if interest rates continue to fall meaning families would save even more.
Full article (http://www.stuff.co.nz/4863897a13.html) from Stuff.co.nz
ollie
06-03-2009, 10:40 AM
Hi all, i have searched for but did not find a link to NZ vs AU dollar.
Nz has slipped a lot against the AUD of late, is this trend to continue or do you think it will be short lived. Big question I know ?? I ask as i have a large amount of AUD to bring to NZ. thanks
with NFP in the -600,000 for the last two months its pretty scary to think that the number of people who have lost jobs so far this year matches the population of Auckland
Tinkering with the rules doesnt really fix things :rolleyes:
The possible return of the "uptick" restriction on shortsellers
of shares and the prospect of changes in an
accounting rule that has forced banks to take billions of
dollars in writedowns, sent U.S. shares higher on Tuesday.
U.S. Federal Reserve Chairman Ben Bernanke said he
supported the mark-to-market accounting goal of making
financial balance sheets as transparent as possible but
thought there was room for improvement. Barney Frank,
who chairs the U.S. House of Representatives Financial
Services Committee, predicted changes to mark-to-market
given Bernanke's comments and said he hoped the uptick
rule would soon be reinstated by the Securities and
Exchange Commission. The rule, which bans short trades
unless the last movement in the stock price was upwards,
was repealed by the SEC in 2007 because it found that
changes in trading strategies made it ineffective.
miner
07-04-2009, 05:08 PM
Do we get a day off over easter and if so what day ?.
Cheers
Miner
fungus pudding
07-04-2009, 05:22 PM
Hi all, i have searched for but did not find a link to NZ vs AU dollar.
Nz has slipped a lot against the AUD of late, is this trend to continue or do you think it will be short lived. Big question I know ?? I ask as i have a large amount of AUD to bring to NZ. thanks
Just search currency converter - there's heaps to choose from, or go to any bank web-site. NZ has risen against AUD lately.
Do we get a day off over easter and if so what day ?.
Cheers
Miner
yeh forex markets really thin out but they do tend to actually stay operating more than you'd expect. I reckon Easter Monday will happen ok especially as Europe kicks in- its always slow on Mondays anway. Good Friday is a well respected Christian holiday right up there with Christmas day so maybe a bit quiet.
God vs Mammon right thur.
miner
09-04-2009, 10:30 AM
You guys getting big spreads in the mornings ?,eur/jpy can go from 1.2 to 6.7 etc.
Cheers
Miner
eur/jpr = 6 pip spread now on Oanda , miner. not really sure if thats just coz of Good Friday or not.
miner
10-04-2009, 09:37 AM
Ta peat usd/jpy 3.5 on FXCM eur/jpy 1.1 at the mo,think it may be low volumes in our mornings as when UK and US come on line they drop back to around 1.2,pays to keep an eye on them.
Cheers
Miner
Rodney Dickens ( NZ economist) has just released another free commentary which suggests that Kiwi will go higher and NZ economy will recover stronger than expected esp housing
read it here.
http://www.sra.co.nz/pdf/DumbandDumber.pdf
bit rough calling Bollard dumb but Rodney (yes first name basis as I worked with the guy once) backs his analysis with historical precendent.
miner
11-05-2009, 10:38 PM
EUR/JPY spread was -0.6 just then Hmmm.
Cheers
Miner
miner
14-05-2009, 11:46 AM
Been some nice shorts on EUR/JPY and it's mate USD/JPY lately,although on a wee long at the mo.
Cheers
Miner
miner
14-05-2009, 08:11 PM
Hehe,nice wee run tho,been using more trendlines on the 4 chart U system lately,working good,hope all is well in Peat FX land ?.
Cheers
miner
miner
15-05-2009, 03:14 PM
My daily finishes at 4pm our time and it looks like the next candle may go north of the down trend line so worth a watch.
oop's talking about EUR/JPY and USD/JPY.
Cheers
Miner
I've always wondered how important it is what time ones daily candle closes. Obviously it can make quite a difference to the candle itself. Oanda closes at 4 PM NZTime too, whereas officially I believe it should be 11 AM NZtime.
This pullback in markets at the moment does seem to be quite global eg Yen crosses down, Stocks down , NZD down, I guess as it usually is, but is it the real McCoy. always the $64 question of course.
miner
15-05-2009, 04:15 PM
FXCM changes at 11am our time(last time I looked anyway),pairs went long from yesterday so that part of the plan worked,will my stop keep me in now tho Hmmm.
Cheers
Miner
.
http://www.youtube.com/watch?v=4p6Ff7DcnBc
thats pretty good skills, but afaik there's not much chance of personal loss. its all covered by the banks insurance. still, wanna be careful of course.
miner
01-06-2009, 03:51 PM
Got a chart on MWsnap,how do I get it from there to here ?.
Cheers
miner
dumbass
01-06-2009, 05:10 PM
hi miner , try this
1 save your image on your desktop as jpeg
2 go to www.iforce.co.nz
3 browse and double click on file
4 resize to 15 monitor
5 copy here and paste on sharetrader reply
urlhttp://iforce.co.nz/i/wjs1syfg.jpg (http://www.iforce.co.nz/)
Or another way.
I do it like this.
Save pic onto your desktop (or any folder), you can the pick it up from ST 'manage attachment' and upload from there. Very quick.
rgds - arco
Thats how quick - takes a minute ...all done after my message
dumbass
01-06-2009, 05:24 PM
but arco my way has the benefit of not having a little thumbnail, so you avoid seeing the fact that no one looks at your charts.
miner
01-06-2009, 05:55 PM
"Your file of 117.0 KB bytes exceeds the forum's limit of 19.5 KB for this filetype.",???.
dumbass
01-06-2009, 06:06 PM
try i force miner it is very simple.
but arco my way has the benefit of not having a little thumbnail, so you avoid seeing the fact that no one looks at your charts.
Hi DB/Anyone
Can you inform me if my chart is coming up as thumbnail for you???
Thanks
example........
dumbass
02-06-2009, 10:43 AM
yep just a normal click on thumbnail image
I mainly use the Sharetrader 'manage attachments' option these days.
If the image is not the size I would like to post (or too big for Sharetraders restrictions) I use the The Image Resizer Powertoy from Microsoft (for XP) which allows you to resize one or many image files with a right-click from Windows Explorer
http://download.microsoft.com/download/whistler/Install/2/WXP/EN-US/ImageResizerPowertoySetup.exe
Its quite a handy tool
dumbass
02-06-2009, 10:59 AM
WARNING BROKEN RECORD ALERT
i got to say www.iforce.co.nz is the best and simplest hosting site , no registration , no nothing and i am a complete and utter techno muppet
TTrader
02-06-2009, 12:37 PM
WARNING BROKEN RECORD ALERT
i got to say www.iforce.co.nz is the best and simplest hosting site , no registration , no nothing and i am a complete and utter techno muppet
Not to mention it is hosted locally so images are loaded quickly... and the owner himself is a great guy.
WARNING BROKEN RECORD ALERT
i got to say www.iforce.co.nz (http://www.iforce.co.nz) is the best and simplest hosting site , no registration , no nothing and i am a complete and utter techno muppet
I had a look, but.......
This site will be closed from 1st July, 2009. Please make sure you backup your images.
Image shack is another that can be used free of charge
http://imageshack.us/
dumbass
03-06-2009, 09:16 AM
you cant beat a ringing endorsement.
there are addons you can install from imageshack that that allow you to right click from your browser or your computer and upload straight to them. makes it a real quick process. no muckin around!
I cant use iforce again for images - I'm getting
*** International Traffic Now Blocked ***
I'm posting from a NZ ISP???
Anyone else having a problem??
arco
dumbass
08-06-2009, 09:02 PM
yes same problem
god damm it , i loved this website but it seems like the last rites are being delivered.
yes same problem
god damm it , i loved this website but it seems like the last rites are being delivered.
No problem, this one works just as easy
http://www.freeimagehosting.net/
Copy the address in the "To insert this image in a forum post, use the following code:" and just paste it into you post. Nothing else to do.
dumbass
15-06-2009, 07:14 PM
arco are you having problems with infoscan , i cant download at present?
arco are you having problems with infoscan , i cant download at present?
I got fed up with them and cancelled my sub.
dumbass
15-06-2009, 09:49 PM
who you using now ?
who you using now ?
Basically only trading FX and Gold/Silver, so can manage with MT4 (free).
If you want ASX I've heard good reports in the past about Norgate - although havent tried them myself. Not sure if they do NZ.
http://www.premiumdata.net/
miner
02-07-2009, 02:15 PM
What do you guys make of this ?
A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window. As these features will be removed, all stop-loss and limit orders held on FXCM LLC accounts at the close of trading on July 31, 2009, will be deleted.
I think a major pain in the butt and useless if your scalping pips if you cant close or change stop from the open position window,off to the UK me thinks.
Cheers
Miner
blackcap
02-07-2009, 07:16 PM
Already changed this morning miner. (In Europe now) Yes big pain in the butt, the stop loss is handy and I do use it regularly.
Anyone else find the Euro/Kiwi is in a nice range at the moment?
miner
02-07-2009, 09:14 PM
The idiot that came up with this one should be shot,cant run a stop off your open position or sell and have to sell in the order you bought EVEN if you are going to loose,and this is to help the poor FX trader ????????.
Running a stop is the number one rule you d#ck heads and jumping off when ever you want,beggars belief.
And no hedging then hedging and now no hedging,how to regulate yourself out of business.
And don't want to do a degree to figure out the way they say you can sort of get around it.
Phew okay deep breath rant is over.
Cheers
Miner
Which forex traders? As in forex futures traders or forex CFD traders??
relax miner :rolleyes:
I havent heard anything about it from Oanda or CMC , have you got a link ?
http://blogs.fxstreet.com/francesc/2009/06/19/nfa-new-rulings-coming-along-will-change-the-forex-industry-forever/
Has some news rules but not the ones Miner mentions.
Havent checked this yet
http://www.theessentialsoftrading.com/Blog/index.php/2009/05/05/new-nfa-rule-impacts-more-than-just-forex-hedging/ (http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1677)
miner
02-07-2009, 10:14 PM
I'll survive peat just a pain in the butt http://www.dailyfx.com/story/press_releases/Notice_to_FXCM_LLC__FXCM_1246480207285.html
And before this,no hedging http://www.dailyfx.com/story/press_releases/Forex_Traders_that_want_to_1242226320947.html
It only affects US accounts.
Cheers
Miner
miner
02-07-2009, 10:21 PM
Dear Client:
A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window. As these features will be removed, all stop-loss and limit orders held on FXCM LLC accounts at the close of trading on July 31, 2009, will be deleted.
FXCM has always encouraged active risk management through the use of stop-loss and limit orders. Stops and limits are two entry orders that are linked to an individual open position. If a stop or limit order is triggered then the other is canceled. FXCM has introduced a new feature called OCO (One Cancels the Other) entry orders, which will provide traders with the same functionality as stop and limit orders except they are not linked to any position. Watch This Video Presentation To See How To Manage Your Risk Using OCO Entry Orders
For additional information, please visit the “NFA FIFO (First in, First Out) Rules” forum on DailyFX. We will be holding live question and answer sessions within the DailyFX forum. Visit Now
The NFA, our industry’s self regulatory organization in the United States, has adopted Compliance Rule 2-43(b). Read Compliance Rule 2-43 (b). This rule requires orders be executed First In, First Out (FIFO). FIFO requires that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed. Stop-loss and limit orders do not comply with FIFO.
The NFA’s stance is that FIFO provides more transparency to customers by offering a more accurate picture of the P/L than viewing the results of individual positions. This brings the forex market more in line with the practices of the futures and equities markets.
While FXCM acknowledges the NFA’s concern and obligation to protect clients, FXCM would like to extend an option to those who would like to continue using stop-loss and limit orders, and who understand the underlying implications. Traders can transfer their accounts to Forex Capital Markets Limited (FXCM UK) and continue to place stop-loss and limit orders and maintain the ability to modify and close orders from the “Open Positions” window.
miner
02-07-2009, 10:24 PM
https://admin.acrobat.com/_a205571165/p91063619/
Havent heard anything from Oanda yet.
Anyone else know if Oanda will be affected
miner
02-07-2009, 10:46 PM
Arco it's "ALL" US fx dealers so if Oanda is US based be the same for you.
Cheers
Miner
yes Oanda platform would be capable of breaking those rules as the stop/limit entries are linked to the original order.
CMC would comply as the orders are not linked (it already offers the OCO)
CMC is a pain like that and it is indeed very easy to end up with an unintended position if you simply use unlinked stop/limits hence I've become very particular about having an OCO for every open position.
I guess Oanda will advise .....
theres nothing about it at the moment on their regulatory compliance page
http://fxtrade.oanda.com/about/corporate_regulation.shtml
and they are incorporated in the state of Delarware
seems ridiculous
:confused:
theres a thread on an Oanda forum here
http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=17;t=004921
perhaps as someone is arguing in that thread its all alittle semantic anyway...
coz I'm starting to think it wont make any difference because Oanda already prevent this by not allowing simultaneous long and short entries in the same pair.
miner
02-07-2009, 11:19 PM
Peat for FXCM there was no hedging then you could then back to you cant,today's stuff is new OCO looks slow easy to F up and a pain,not being able to close a trade set or change stop off your open position screen is sorry but f#cking mental,as it is I can enter a trade have open position there on screen and at a click sell or move stop,not being able to do this kills FAST scalp trades and is suicidal,so scr#w the US off to the UK for one acc and AUSY for the other.
Now don't you worry I'm fine just cant believe some idiot came up with it,to me run a stop or don't play.
Cheers
Miner
I dont use FXCM but i'm not convinced that the changes will prevent you from 1/ running a stop or, 2/ quickly close a trade , though that of course depends on the exact interface
the way I see it all they are really doing is forcing your positions to be netted off immediately
but hey I could be wrong.
miner
02-07-2009, 11:28 PM
http://forexforums.dailyfx.com/nfa-fifo-first-first-out-rules/80052-3-questions-answers.html
so miner the question just ends up being 'how hard is it to enter a new trade to cancel the existing one. this is how I often do it in CMC
if you can scalp by entering trades quickly then surely you can close them just as quickly by doing the same thing in the opposite direction
miner
02-07-2009, 11:33 PM
Did you watch the vid with the brilliant first in first out rule Peat ?, NFA notice here
http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=2273
Cheers
Miner
miner
02-07-2009, 11:41 PM
so miner the question just ends up being 'how hard is it to enter a new trade to cancel the existing one. this is how I often do it in CMC
if you can scalp by entering trades quickly then surely you can close them just as quickly by doing the same thing in the opposite direction
Easy as at the moment peat,eg I click buy or sell on a pair,a little box with it pops up on trading screen (remember I run 4 screens) then when I want I just hit buy,then click set stop up pops box set it,then if want get stop box up again and as trade moves creep it behind,or hit close and the close box comes up so at the click of a mouse I can sell or change my stop.
When this change takes affect cant do any of that,I cant put a stop on I have to sell same amount to close after I spend god knows how long hitting buttons,some times the trade would be over by the time you set it,or you just lost pips as to slow to get out.
And first in first out is crazy,watch the vid .
Cheers
Miner
yes I watched it - I'm not saying I agree with it but its probably workable.
As I said not being able to link your stops with particular orders greatly increases the chances of leaving an unintended order in if you close a position manually . in fact I almost did it tonight just now.... so yes there is a downside. I certainly prefer the oanda execution method to that of CMC.
just relocate tto UK if it bugs you enough
I think this shows how the credit crunch and the crisis etc have induced regulators to do stuff which tries to convince the masses they are fixing the problems. This sort of thing could gain momentum if the economy keeps going down.
Kinda like how they brought in circuit breakers after the '87 crash society
Innovators always find new ways to circumvent regulations though
miner
02-07-2009, 11:56 PM
Jason Rogers
Moderator Join Date: Jun 2009
Posts: 7
Quote:
Originally Posted by AV1
I understand we are no longer allowed to use STOPS and LIMITS the way we used to.
Simple question.
If I open one position, can I close this position at any time without opening another position?
Thanks in advance,
AV1
Hi AV1,
The answer to your question is No. The "close" column in the Open Positions window will be removed on FXCM LLC accounts (US Entity) post July 31st, 2009. Therefore, the only way to close an existing position will be to place an new opposing market or entry order of the same amount. This will offset the existing position as hedging is not enabled on FXCM LLC accounts.
Example:
You have a Buy 20K EURUSD position. As opposed to clicking on the close price in the Open Positions window, you would need to place a new order to Sell 20K EURUSD.
The only other way this position could be closed without a new order would be if the account suffered a margin call. In this case all open positions would be closed at the current market price.
Thanks, Jason
As far as I can see when this rule comes into affect you will no longer be able to run a stop,set or trailing or hit a close button,so short of watching it like a hawk then spending f#ck knows how long setting the opposing trade to get out,(and not Fing that up) you are in the laps of the FX gods,might as well just fall on your sword now.
US fx accounts will be draining of money big time this month as everyone moves there accounts overseas.
Cheers
Miner
miner
02-07-2009, 11:59 PM
Not so much a case of bugs me peat just that I simply am out of business with these new rules,no stops no way hozay.
Cheers
miner
miner
03-07-2009, 12:11 AM
And as it's after midnight it's my birthday and I'll cry if I want too :-).
of course you can have stops. you simply have an opposing order in place.
HAPPY BIRTHDAY!!!
miner
03-07-2009, 12:21 AM
May work for longer trades(with set targets) useless for scalping,not to mention if you have more than one open long say on a pair with the first in first out rule you can easily end up with an unwanted entry,time will tell peat but a big f up if you ask me,as you say another sign that uncle sam is in the sh#t,maybe I'm just getting grumpy in my old age :-).
Cheers
Miner
miner
03-07-2009, 12:54 AM
Forget playing a move like this when the change comes into affect.
Hi Miner
Not sure if Oanda is affected because you cant hedge with them (i.e. have orders in both directions, unless you open a separate sub account).
Also I noticed last week when I had 2 winning orders on, I tried to close the whole of the 2nd order, but it took that quantity off the first order.
arco
miner
03-07-2009, 09:41 AM
Hi Arco I haven't been able to hedge with fxcm for a while,as far as I know this change will affect all US based dealers,so you may be getting an email soon from Oanda.
At the end of the day no skin off my nose as will just move account to the UK,just think it's a knee jerk headless chicken move by the powers that be in the US.
Been a nice move on eur/jpy,just went again.
Cheers
Miner
miner
03-07-2009, 09:49 AM
Just got this email.
Dear CompassFX client,
As you may have already heard, the National Futures Association (NFA) has adopted a new Compliance Rule 2-43 regarding Forex trading.
http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=2273
This rule states that Forex Dealer Members (FDMs) may not carry offsetting positions in a customer account, but must offset them on a First-In, First-Out (FIFO) basis. FIFO means that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed.
Also, stop-loss orders and limit orders may not comply with the FIFO ruling because stop-loss and limit orders do not necessarily close the oldest position on a currency pair first. As stop-loss and limit orders may no longer be in compliance with US regulations, U.S. FDMs will be required to remove them from accounts after July 31, 2009.
Why is the NFA implementing this new ruling?
The NFA's position is that FIFO provides more transparency to customers, offering a more accurate picture of an account's Profit/Loss than viewing the results of individual positions. This ruling brings the Forex market more in line with the practices of the futures and equities markets.
How are CompassFX clients affected?
The recent "No Hedge" ruling and now the "FIFO" ruling brought about by NFA Compliance Rule 2-43(b) will mean that traders may no longer be able to trade using the MetaTrader 4.0 through a U.S. regulated FDM. Also, these U.S. traders may no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from any "Open Positions" window.
This major new rule will go into effect after July 31, 2009.
What options is CompassFX providing clients?
We know that this ruling will affect most every trader, especially those using the MetaTrader 4.0 platform. Therefore, CompassFX has established relationships with FX Solutions Australia and Gain Capital U.K. Our website is updated with the latest account documentation links to these well established firms:
http://www.compassfx.com/compassfx/open_account.htm
FX Solutions Australia and Gain Capital U.K. offer MetaTrader 4.0 with hedging and full stop-loss and limit order capability. Both firms are registered and regulated by their respective authorities.
FX Solutions Australia is a registered business name of IFX Markets Ltd. and is authorized and regulated by the Australian Securities and Investments Commission (ASIC). IFX Markets Ltd holds Australian Business Number 77 114 282 174. GAIN Capital - FOREX.com UK Ltd. ("FOREX.com UK Ltd") is authorized and regulated by the Financial Services Authority (FSA).
Both firms are working with us to provide our clients a smooth account transition.
If you trade on the FXDD MetaTrader platform, we have not heard the position of FXDD moving forward. Our hope is that they have a plan expected to be released soon. We will inform our clients as soon as we know their plans.
Let's address some questions…
If I switch my account to FX Solutions Australia or Gain Capital U.K., what account protection is available?
The FSA is the regulatory body that oversees spot Forex trading in the United Kingdom and requires Forex accounts to be fully segregated in accordance with FSA client money rules. To learn more about Gain Capital U.K. and the FSA, click on these links:
http://www.forex.com/uk/
http://www.fsa.gov.uk/Pages/About/What/index.shtml
The ASIC is the regulatory body that oversees spot Forex trading in Australia. To learn more about FX Solutions Australia and the ASIC, click on these links:
http://www.fxsol.com.au/
http://www.asic.gov.au/asic/asic.nsf/byheadline/Our+role?openDocument
How do I open a new account at FX Solutions Australia or Gain Capital U.K.?
CompassFX has updated the account documentation on our website at:
http://www.compassfx.com/compassfx/open_account.htm
How do I fund my new account at FX Solutions Australia or Gain Capital U.K.?
Gain Capital U.K. provides convenient ways to fund a trading account by bank wire, debit card, and credit card transactions. Click on this link for more information:
http://www.forex.com/uk/forex_account_funding.html
FX Solutions also offers clients easy and convenient methods to fund their accounts bank wire, debit card, and credit card transactions. Fund a new account with as little as $250. Click on this link for more information: http://www.fxsol.com.au/accounts/deposit-funds.asp
Can I get a demo account at FX Solutions Australia or Gain Capital U.K.?
Yes. CompassFX has demo account registrations ready. Click on this link to review MetaTrader platforms offered by FX Solutions Australia and Gain Capital U.K.:
http://www.compassfx.com/compassfx/open_account.htm
It is our goal at CompassFX to provide Forex traders the proper tools and resources to trade well. We have and will continue to create strong alliances with regulated Forex brokers and make the necessary additions and adjustments for the well being of our clients.
We will continue to act on your behalf as a liaison between you and the clearing firms. And, you can depend on us to provide continued customer support, education, and resources to help you become a better trader.
If you have any questions or concerns, please email us at support@compassfx.com
We look forward to continue serving you.
Best regards,
Compass Foreign Exchange LLC
2083 N. Collins Blvd., Suite 200
Richardson, TX 75080
Tel +1 (800) 577-3600
Tel +1 (972) 680-8080
Fax +1 (972) 680-3355
http://www.compassfx.com
RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you can not afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
CompassFX and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. CompassFX and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This is not a solicitation to buy or sell currency or futures. CompassFX is compensated for its services through commissions and/or the spread between the bid/ask prices. All replies should be sent to support@compassfx.com .Replies sent to support@compassfx.com will be received by the CompassFX corporate email system and are subject to storage and review by someone other than the recipient.
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Cheers
Miner
interesting to compare strength of kiwi and aussie with weakness of Euro AG etc....cant help but think that USD strength will curtail kiwi rise soon.
did anything ever happen with that FIFO ruling.... no changes that I am aware of with Oanda....
dumbass
11-08-2009, 11:11 AM
hi peat , thanks for the elliot info.
COT data backs things up.
http://www.dailyfx.com/story/charting_center/futures_positioning_cot_report/Futures_Positioning_Favors_Dollar_Bulls_1249935738 364.html
miner
24-08-2009, 07:17 PM
Does anyone here use AVA charts ?,and peat after the FIFO ruling US based FXCM lost all the bits that I was talking about,moved to AUSY where it stayed the same.
Cheers
Miner
miner
26-08-2009, 10:08 AM
Can one of you computer guys tell me which one is the best out of these two,or are they much the same ?,have a new modem and will put my graphics cards in it,both are the same price.
No 1,CPU Speed: 5.4 GHz
Memory: 2 GB
Hard drive: 500 GB
CD / DVD: CD + DVD writer
Monitor: No monitor
###############################
Our shop is located at New Lynn
(Hours: Monday to Sunday 10:00 - 22:30)
Price inc GST and invoice will be issue
1 year Warranty for Computer Case and Power Supply
2 Year Warranty for other Computer components
###############################
Brand new Computer System, unused item with original manuals and packaging!
Limited Time Only!!!!
Note: We only choose famous and quality brands such as ASUS, Western Digital, and Kingston etc.
*CPU:
AMD Athlon64X2 Processor 7750 2.7GHz 3MB Cache
*Motherboard:
Asus M2N68-AM Plus
*Video
Geforce 7025 Chipset Onboard Video Share Up to 256MB
*Memory
2GB DDR2-800
*Hard Drive
Western Digital 500GB SATA II 7200RPM 32MB Cache
*Optical Drive
Lite-On/ASUS SATA DVD 24X
*Case
Easteck Case HR-429BS black&Silver 420W PSU
*Software
OS: Windows XP for 30 day trial version or Linux Ubuntu OS
Norton Antivirus
Office: Open Office
Nero 8 Burning Suite
No,2
CPU Speed: 5.4 GHz
Memory: 2 GB
Hard drive: 500 GB
CD / DVD: CD + DVD writer
Monitor: No monitor
This system is very fast and affordable for the Home/ Business/ study.
The most budget and Really fast Dual Core CPU 7750 5.4Ghz PLUS A Huge storage of 500 GB HDD, Thats all we need to handle any programs and everyday work.
CPU: AMD X2 7750 2.7GHz HT2000FSB 3MB Cache ; K10 STRUCTURE, 65NM , SKT AM2+
MOBO: AMD 740G high value video MB solution
Graphic card: ATI Radeon HD2100, DirectX 9.0 Gaming
Audio: Realtek ALC662 6-Channel HD
Slot: SATA/IDE RAID: 6 x SATAII, 1 x ATA 133 1 x PCI-Ex16, 2 x PCI
Video: 1 x VGA + 1 x DVI-D
Broadband ready:Realtek RTL8102E-VB PCI-E 10/100m LAN
Memory: 2GBR2-800 dual channel High performance memory
HDD: 500GB SATA2 HDD 32mb Cache
Cdrom:20x+/- DVDRW
Case: Easteck Case HR-429BS black&Silver 420W PSU
Monitor: Feel free to ask!! We got whole range of monitor and are the best price in NZ!
KB&Mouse: Feel free to ask!! We got whole rang of KB&Mouse and are the best price in NZ!
They are both $489:00,thought that was an ok price ???.
they look pretty similar specification wise - and they are both the same colour so its a pretty hard decision miner. ;)
miner
26-08-2009, 11:45 AM
Ta Peat,so sound like an ok PC for me ?,only use PC for forex,no games etc.
Cheers
Miner
sounds awesome for $490. if it was me I'd get 4 gb of memory but probably doesnt matter that much
miner
26-08-2009, 03:05 PM
Ta peat looked around and thought it was a good buy,and my boy who knows a bit recons it will be fairly grunty,cant run my cards in it so getting one that I can plug my 3 screens into for $60, thought that was ok,so with postage all up $569,and retire my slow piece of sh*t,2gb will do me as store bugger all on my PC as say just use it to trade,emails etc.
Cheers
miner
2gb will do me as store bugger all on my PC as say just use it to trade,emails etc.
Cheers
miner
- storage is the 500 GB hard drive and yes that will be ample.
- the 2GB of memory assists when you run lots of programmes simultaneously.
wow 3 screens thats cool.
miner
26-08-2009, 03:50 PM
O ok,like have said in the past I know sweet F all about computers,two screens have charts and one trading station,so 2gb will hopefully be ok,heaps more than got now so should do the trick.
Cheers
Miner
loofa
26-08-2009, 04:40 PM
miner,
What do you run three screens with?
Windows deals with two but how do you do more?
miner
26-08-2009, 05:02 PM
Hi loofa ask a Pc dummy a tricky question why don't you,current old system I run windows XP home and to get 4 screens (used to run 4) I had to get a ASUS A7000 VGA card and a NVIDIA GeForce FX 5200 PCI card as they couldn't go in the same type of slot or didn't work(don't like each other or something).
New set up am getting a card that has 3 different types of outlets for screens (screen's are new and had to be so they had something ?),this card will KO the one on the mother board,so as far as I have been told it will work ?,if you want can get my boy to tell me how it all works when he sets it up and let you know ?.
I just scroll from one screen through to the next,hope that helped but you are asking a dummy something he knows F all about.
Cheers
miner
miner
26-08-2009, 05:20 PM
Just asked the boy and my new card has a VGA DVI and a HDMI outlet (you need adaptors) and your screens need a DVI outlet.
Cheers
Miner
miner
26-08-2009, 10:03 PM
Or this Loofa ?, http://www.dse.co.nz/dse.shop/4a94f75b014f4e842741c0a87f3b06cf/Product/View/XH3373
Cheers
Miner
loofa
27-08-2009, 10:22 AM
miner,
Thanks anyway.
I run two laptops with extra screens so it is of interest only except the screen sizes are not equal. Still I do have reliability if one goes down.
The coming week is full of global event risk – including Japan’s election result, RBA and ECB central bank meetings, US non-farm payrolls and the G20 Finance Ministers meeting – which should held shed some light on the global outlook
http://www.interest.co.nz/ratesblog/index.php/2009/08/31/opinion-risk-nz-will-fall-vs-aussie-if-rba-hikes-official-rate-in-09/
Cannibal
31-08-2009, 12:34 PM
miner,
What do you run three screens with?
Windows deals with two but how do you do more?
This looks cool - http://www.telegraph.co.uk/technology/6105506/Dual-screen-laptop-on-sale-by-Christmas.html
Lots of charts topping/bottoming.
Perhaps this will be the turning catalyst
"This weekend, the Group of 20 will gather in London to move forward on reforms to put the US global financial system on firmer ground. President Barack Obama has outlined a new regulatory framework that promotes stronger protections for consumers and investors and greater financial stability. Making the system safer requires a comprehensive approach including tougher regulation of derivatives, securitisation markets and credit rating agencies, new executive compensation standards and, critically, more powerful tools for governments to wind down firms that fail. We are working with our partners to ensure similar reforms are put in place around the world."
About as much effect as a damp squib - so far
LONDON (Reuters) - Financial markets are likely to remain buffeted by uncertainty over government policy despite an unprecedented pledge by the world's top finance officials to cooperate as the global economy emerges from recession.
At a meeting in London at the weekend, finance ministers and central bankers from the Group of 20 nations said fiscal and monetary policy would stay expansionary as long as needed to ensure recovery.
Full story
http://www.reuters.com/article/ousivMolt/idUSTRE58515T20090906
yes , very quiet. but USA was on holiday....
1 China (https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html)
$ 426,100,000,000
2008 est.
2 Germany (https://www.cia.gov/library/publications/the-world-factbook/geos/gm.html)
$ 243,300,000,000
2008 est.
3 Japan (https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html)
$ 156,600,000,000
2008 est.
4 Saudi Arabia (https://www.cia.gov/library/publications/the-world-factbook/geos/sa.html)
$ 128,000,000,000
2008 est.
5 Russia (https://www.cia.gov/library/publications/the-world-factbook/geos/rs.html)
$ 102,300,000,000
2008 est.
6 Norway (https://www.cia.gov/library/publications/the-world-factbook/geos/no.html)
$ 83,500,000,000
2008 est.
7 Netherlands (https://www.cia.gov/library/publications/the-world-factbook/geos/nl.html)
$ 65,670,000,000
2008 est.
8 Kuwait (https://www.cia.gov/library/publications/the-world-factbook/geos/ku.html)
$ 61,920,000,000
2008 est.
9 European Union (https://www.cia.gov/library/publications/the-world-factbook/geos/ee.html)
$ 51,400,000,000
2008 est.
10 Switzerland (https://www.cia.gov/library/publications/the-world-factbook/geos/sz.html)
$ 47,670,000,000
2008 est.
11 Sweden (https://www.cia.gov/library/publications/the-world-factbook/geos/sw.html)
$ 39,960,000,000
2008 est.
12 Venezuela (https://www.cia.gov/library/publications/the-world-factbook/geos/ve.html)
$ 39,200,000,000
2008 est.
13 Algeria (https://www.cia.gov/library/publications/the-world-factbook/geos/ag.html)
$ 34,990,000,000
2008 est.
14 Malaysia (https://www.cia.gov/library/publications/the-world-factbook/geos/my.html)
$ 34,580,000,000
2008 est.
15 United Arab Emirates (https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html)
$ 34,300,000,000
2008 est.
16 Libya (https://www.cia.gov/library/publications/the-world-factbook/geos/ly.html)
$ 32,780,000,000
2008 est.
17 Hong Kong (https://www.cia.gov/library/publications/the-world-factbook/geos/hk.html)
$ 30,520,000,000
2008 est.
18 Singapore (https://www.cia.gov/library/publications/the-world-factbook/geos/sn.html)
$ 25,780,000,000
2008 est.
19 Taiwan (https://www.cia.gov/library/publications/the-world-factbook/geos/tw.html)
$ 24,640,000,000
2008 est.
20 Qatar (https://www.cia.gov/library/publications/the-world-factbook/geos/qa.html)
$ 20,950,000,000
2008 est.
21 Angola (https://www.cia.gov/library/publications/the-world-factbook/geos/ao.html)
$ 17,840,000,000
2008 est.
22 Iran (https://www.cia.gov/library/publications/the-world-factbook/geos/ir.html)
$ 16,660,000,000
2008 est.
23 Azerbaijan (https://www.cia.gov/library/publications/the-world-factbook/geos/aj.html)
$ 16,450,000,000
2008 est.
24 Iraq (https://www.cia.gov/library/publications/the-world-factbook/geos/iz.html)
$ 14,050,000,000
2008 est.
25 Austria (https://www.cia.gov/library/publications/the-world-factbook/geos/au.html)
$ 10,520,000,000
2008 est.
26 Oman (https://www.cia.gov/library/publications/the-world-factbook/geos/mu.html)
$ 9,361,000,000
2008 est.
27 Canada (https://www.cia.gov/library/publications/the-world-factbook/geos/ca.html)
$ 7,610,000,000
2008 est.
28 Argentina (https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html)
$ 7,588,000,000
2008 est.
29 Brunei (https://www.cia.gov/library/publications/the-world-factbook/geos/bx.html)
$ 7,101,000,000
2007 est.
30 Kazakhstan (https://www.cia.gov/library/publications/the-world-factbook/geos/kz.html)
$ 6,978,000,000
2008 est.
31 Denmark (https://www.cia.gov/library/publications/the-world-factbook/geos/da.html)
$ 6,938,000,000
2008 est.
32 Uzbekistan (https://www.cia.gov/library/publications/the-world-factbook/geos/uz.html)
$ 6,257,000,000
2008 est.
33 Finland (https://www.cia.gov/library/publications/the-world-factbook/geos/fi.html)
$ 5,518,000,000
2008 est.
34 Trinidad and Tobago (https://www.cia.gov/library/publications/the-world-factbook/geos/td.html)
$ 5,395,000,000
2008 est.
35 Nigeria (https://www.cia.gov/library/publications/the-world-factbook/geos/ni.html)
$ 4,847,000,000
2008 est.
36 Turkmenistan (https://www.cia.gov/library/publications/the-world-factbook/geos/tx.html)
$ 4,657,000,000
2008 est.
37 Philippines (https://www.cia.gov/library/publications/the-world-factbook/geos/rp.html)
$ 4,227,000,000
2008 est.
38 Luxembourg (https://www.cia.gov/library/publications/the-world-factbook/geos/lu.html)
$ 2,979,000,000
2008 est.
39 Gabon (https://www.cia.gov/library/publications/the-world-factbook/geos/gb.html)
$ 2,727,000,000
2008 est.
40 Bolivia (https://www.cia.gov/library/publications/the-world-factbook/geos/bl.html)
$ 2,368,000,000
2008 est.
41 Bahrain (https://www.cia.gov/library/publications/the-world-factbook/geos/ba.html)
$ 2,255,000,000
2008 est.
42 Israel (https://www.cia.gov/library/publications/the-world-factbook/geos/is.html)
$ 1,596,000,000
2008 est.
43 Equatorial Guinea (https://www.cia.gov/library/publications/the-world-factbook/geos/ek.html)
$ 1,308,000,000
2008 est.
44 Ecuador (https://www.cia.gov/library/publications/the-world-factbook/geos/ec.html)
$ 1,194,000,000
2008 est.
45 Timor-Leste (https://www.cia.gov/library/publications/the-world-factbook/geos/tt.html)
$ 1,161,000,000
2007 est.
46 Congo, Republic of the (https://www.cia.gov/library/publications/the-world-factbook/geos/cf.html)
$ 1,085,000,000
2008 est.
47 Burma (https://www.cia.gov/library/publications/the-world-factbook/geos/bm.html)
$ 1,018,000,000
2008 est.
48 Botswana (https://www.cia.gov/library/publications/the-world-factbook/geos/bc.html)
$ 938,300,000
2008 est.
49 Papua New Guinea (https://www.cia.gov/library/publications/the-world-factbook/geos/pp.html)
$ 710,000,000
2008 est.
50 Bangladesh (https://www.cia.gov/library/publications/the-world-factbook/geos/bg.html)
$ 628,000,000
2008 est.
51 Indonesia (https://www.cia.gov/library/publications/the-world-factbook/geos/id.html)
$ 604,000,000
2008 est.
52 Nepal (https://www.cia.gov/library/publications/the-world-factbook/geos/np.html)
$ 241,000,000
2008
53 Namibia (https://www.cia.gov/library/publications/the-world-factbook/geos/wa.html)
$ 156,800,000
2008 est.
54 Cote d'Ivoire (https://www.cia.gov/library/publications/the-world-factbook/geos/iv.html)
$ 142,000,000
2008 est.
55 British Virgin Islands (https://www.cia.gov/library/publications/the-world-factbook/geos/vi.html)
$ 134,300,000
1999
56 Bhutan (https://www.cia.gov/library/publications/the-world-factbook/geos/bt.html)
$ 116,000,000
2007 est.
57 Lesotho (https://www.cia.gov/library/publications/the-world-factbook/geos/lt.html)
$ 111,000,000
2008 est.
58 Cook Islands (https://www.cia.gov/library/publications/the-world-factbook/geos/cw.html)
$ 26,670,000
2005
59 Suriname (https://www.cia.gov/library/publications/the-world-factbook/geos/ns.html)
$ 24,000,000
2007 est.
60 Palau (https://www.cia.gov/library/publications/the-world-factbook/geos/ps.html)
$ 15,090,000
FY03/04
61 Cameroon (https://www.cia.gov/library/publications/the-world-factbook/geos/cm.html)
$ 13,000,000
2008 est.
62 Comoros (https://www.cia.gov/library/publications/the-world-factbook/geos/cn.html)
$ 8,000,000
2007 est.
63 Guinea-Bissau (https://www.cia.gov/library/publications/the-world-factbook/geos/pu.html)
$ -6,000,000
2007 est.
64 Tuvalu (https://www.cia.gov/library/publications/the-world-factbook/geos/tv.html)
$ -11,680,000
2003
65 Kiribati (https://www.cia.gov/library/publications/the-world-factbook/geos/kr.html)
$ -21,000,000
2007 est.
66 Tonga (https://www.cia.gov/library/publications/the-world-factbook/geos/tn.html)
$ -23,000,000
2007 est.
67 Samoa (https://www.cia.gov/library/publications/the-world-factbook/geos/ws.html)
$ -24,000,000
2007 est.
68 Swaziland (https://www.cia.gov/library/publications/the-world-factbook/geos/wz.html)
$ -30,000,000
2008 est.
69 Micronesia, Federated States of (https://www.cia.gov/library/publications/the-world-factbook/geos/fm.html)
$ -34,300,000
FY05 est.
70 Belize (https://www.cia.gov/library/publications/the-world-factbook/geos/bh.html)
$ -42,000,000
2008 est.
71 Anguilla (https://www.cia.gov/library/publications/the-world-factbook/geos/av.html)
$ -42,870,000
2003 est.
72 Laos (https://www.cia.gov/library/publications/the-world-factbook/geos/la.html)
$ -52,000,000
2008 est.
73 Vanuatu (https://www.cia.gov/library/publications/the-world-factbook/geos/nh.html)
$ -60,000,000
2007 est.
74 Sierra Leone (https://www.cia.gov/library/publications/the-world-factbook/geos/sl.html)
$ -63,000,000
2007 est.
75 Afghanistan (https://www.cia.gov/library/publications/the-world-factbook/geos/af.html)
$ -67,000,000
2007 est.
76 Sao Tome and Principe (https://www.cia.gov/library/publications/the-world-factbook/geos/tp.html)
$ -68,000,000
2008 est.
77 Dominica (https://www.cia.gov/library/publications/the-world-factbook/geos/do.html)
$ -72,000,000
2007 est.
78 Central African Republic (https://www.cia.gov/library/publications/the-world-factbook/geos/ct.html)
$ -77,000,000
2007 est.
79 Gambia, The (https://www.cia.gov/library/publications/the-world-factbook/geos/ga.html)
$ -127,000,000
2008 est.
80 Grenada (https://www.cia.gov/library/publications/the-world-factbook/geos/gj.html)
$ -138,000,000
2007 est.
81 Solomon Islands (https://www.cia.gov/library/publications/the-world-factbook/geos/bp.html)
$ -143,000,000
2007 est.
82 Saint Vincent and the Grenadines (https://www.cia.gov/library/publications/the-world-factbook/geos/vc.html)
$ -149,000,000
2007 est.
83 Saint Kitts and Nevis (https://www.cia.gov/library/publications/the-world-factbook/geos/sc.html)
$ -163,000,000
2007 est.
84 Burundi (https://www.cia.gov/library/publications/the-world-factbook/geos/by.html)
$ -183,000,000
2008 est.
85 Mauritania (https://www.cia.gov/library/publications/the-world-factbook/geos/mr.html)
$ -184,000,000
2007 est.
86 Cape Verde (https://www.cia.gov/library/publications/the-world-factbook/geos/cv.html)
$ -186,000,000
2008 est.
87 Saint Lucia (https://www.cia.gov/library/publications/the-world-factbook/geos/st.html)
$ -199,000,000
2007 est.
88 Antigua and Barbuda (https://www.cia.gov/library/publications/the-world-factbook/geos/ac.html)
$ -211,000,000
2007 est.
89 Djibouti (https://www.cia.gov/library/publications/the-world-factbook/geos/dj.html)
$ -212,000,000
2007 est.
90 Liberia (https://www.cia.gov/library/publications/the-world-factbook/geos/li.html)
$ -224,000,000
2007
91 Eritrea (https://www.cia.gov/library/publications/the-world-factbook/geos/er.html)
$ -229,000,000
2008 est.
92 Paraguay (https://www.cia.gov/library/publications/the-world-factbook/geos/pa.html)
$ -239,000,000
2008 est.
93 Malawi (https://www.cia.gov/library/publications/the-world-factbook/geos/mi.html)
$ -241,000,000
2008 est.
94 Barbados (https://www.cia.gov/library/publications/the-world-factbook/geos/bb.html)
$ -254,000,000
2007 est.
95 Rwanda (https://www.cia.gov/library/publications/the-world-factbook/geos/rw.html)
$ -265,000,000
2008 est.
96 Seychelles (https://www.cia.gov/library/publications/the-world-factbook/geos/se.html)
$ -277,000,000
2008 est.
97 Togo (https://www.cia.gov/library/publications/the-world-factbook/geos/to.html)
$ -287,000,000
2008 est.
98 Niger (https://www.cia.gov/library/publications/the-world-factbook/geos/ng.html)
$ -321,000,000
2007 est.
99 Guyana (https://www.cia.gov/library/publications/the-world-factbook/geos/gy.html)
$ -333,000,000
2008 est.
100 Congo, Democratic Republic of the (https://www.cia.gov/library/publications/the-world-factbook/geos/cg.html)
$ -402,000,000
2007 est.
101 Mali (https://www.cia.gov/library/publications/the-world-factbook/geos/ml.html)
$ -446,000,000
2007 est.
102 Benin (https://www.cia.gov/library/publications/the-world-factbook/geos/bn.html)
$ -487,000,000
2008 est.
103 Guinea (https://www.cia.gov/library/publications/the-world-factbook/geos/gv.html)
$ -487,000,000
2008 est.
104 Malta (https://www.cia.gov/library/publications/the-world-factbook/geos/mt.html)
$ -504,000,000
2008 est.
105 Fiji (https://www.cia.gov/library/publications/the-world-factbook/geos/fj.html)
$ -507,000,000
2007 est.
106 Haiti (https://www.cia.gov/library/publications/the-world-factbook/geos/ha.html)
$ -611,000,000
2008 est.
107 Maldives (https://www.cia.gov/library/publications/the-world-factbook/geos/mv.html)
$ -638,000,000
2008 est.
108 Zimbabwe (https://www.cia.gov/library/publications/the-world-factbook/geos/zi.html)
$ -659,200,000
2008 est.
109 Syria (https://www.cia.gov/library/publications/the-world-factbook/geos/sy.html)
$ -705,000,000
2008 est.
110 Kyrgyzstan (https://www.cia.gov/library/publications/the-world-factbook/geos/kg.html)
$ -708,000,000
2008 est.
111 Tajikistan (https://www.cia.gov/library/publications/the-world-factbook/geos/ti.html)
$ -783,000,000
2008 est.
112 Chad (https://www.cia.gov/library/publications/the-world-factbook/geos/cd.html)
$ -805,000,000
2008 est.
113 Burkina Faso (https://www.cia.gov/library/publications/the-world-factbook/geos/uv.html)
$ -931,000,000
2008 est.
114 Mauritius (https://www.cia.gov/library/publications/the-world-factbook/geos/mp.html)
$ -974,500,000
2008 est.
115 Mozambique (https://www.cia.gov/library/publications/the-world-factbook/geos/mz.html)
$ -975,000,000
2008 est.
116 Mongolia (https://www.cia.gov/library/publications/the-world-factbook/geos/mg.html)
$ -1,000,000,000
2008 est.
117 Cambodia (https://www.cia.gov/library/publications/the-world-factbook/geos/cb.html)
$ -1,002,000,000
2008 est.
118 Moldova (https://www.cia.gov/library/publications/the-world-factbook/geos/md.html)
$ -1,009,000,000
2008 est.
119 Thailand (https://www.cia.gov/library/publications/the-world-factbook/geos/th.html)
$ -1,049,000,000
2008 est.
120 Montenegro (https://www.cia.gov/library/publications/the-world-factbook/geos/mj.html)
$ -1,102,000,000
2007 est.
121 Yemen (https://www.cia.gov/library/publications/the-world-factbook/geos/ym.html)
$ -1,113,000,000
2008 est.
122 Uruguay (https://www.cia.gov/library/publications/the-world-factbook/geos/uy.html)
$ -1,119,000,000
2008 est.
123 Madagascar (https://www.cia.gov/library/publications/the-world-factbook/geos/ma.html)
$ -1,124,000,000
2008 est.
124 Sudan (https://www.cia.gov/library/publications/the-world-factbook/geos/su.html)
$ -1,178,000,000
2008 est.
125 Macedonia (https://www.cia.gov/library/publications/the-world-factbook/geos/mk.html)
$ -1,209,000,000
2008 est.
126 Zambia (https://www.cia.gov/library/publications/the-world-factbook/geos/za.html)
$ -1,224,000,000
2008 est.
127 Uganda (https://www.cia.gov/library/publications/the-world-factbook/geos/ug.html)
$ -1,273,000,000
2008 est.
128 Senegal (https://www.cia.gov/library/publications/the-world-factbook/geos/sg.html)
$ -1,310,000,000
2008 est.
129 Egypt (https://www.cia.gov/library/publications/the-world-factbook/geos/eg.html)
$ -1,331,000,000
2008 est.
130 Armenia (https://www.cia.gov/library/publications/the-world-factbook/geos/am.html)
$ -1,355,000,000
2008 est.
131 Nicaragua (https://www.cia.gov/library/publications/the-world-factbook/geos/nu.html)
$ -1,418,000,000
2008 est.
132 Bahamas, The (https://www.cia.gov/library/publications/the-world-factbook/geos/bf.html)
$ -1,442,000,000
2007 est.
133 El Salvador (https://www.cia.gov/library/publications/the-world-factbook/geos/es.html)
$ -1,595,000,000
2008 est.
134 Tunisia (https://www.cia.gov/library/publications/the-world-factbook/geos/ts.html)
$ -1,755,000,000
2008 est.
135 Iceland (https://www.cia.gov/library/publications/the-world-factbook/geos/ic.html)
$ -1,782,000,000
2008 est.
136 Albania (https://www.cia.gov/library/publications/the-world-factbook/geos/al.html)
$ -1,906,000,000
2008 est.
137 Honduras (https://www.cia.gov/library/publications/the-world-factbook/geos/ho.html)
$ -1,977,000,000
2008 est.
138 Ethiopia (https://www.cia.gov/library/publications/the-world-factbook/geos/et.html)
$ -2,000,000,000
2008 est.
139 Guatemala (https://www.cia.gov/library/publications/the-world-factbook/geos/gt.html)
$ -2,119,000,000
2008 est.
140 Estonia (https://www.cia.gov/library/publications/the-world-factbook/geos/en.html)
$ -2,186,000,000
2008 est.
141 Jordan (https://www.cia.gov/library/publications/the-world-factbook/geos/jo.html)
$ -2,425,000,000
2008 est.
142 Ghana (https://www.cia.gov/library/publications/the-world-factbook/geos/gh.html)
$ -2,620,000,000
2008 est.
143 Costa Rica (https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html)
$ -2,661,000,000
2008 est.
144 Cuba (https://www.cia.gov/library/publications/the-world-factbook/geos/cu.html)
$ -2,691,000,000
2008 est.
145 Tanzania (https://www.cia.gov/library/publications/the-world-factbook/geos/tz.html)
$ -2,695,000,000
2008 est.
146 Kenya (https://www.cia.gov/library/publications/the-world-factbook/geos/ke.html)
$ -2,745,000,000
2008 est.
147 Bosnia and Herzegovina (https://www.cia.gov/library/publications/the-world-factbook/geos/bk.html)
$ -2,763,000,000
2008 est.
148 Panama (https://www.cia.gov/library/publications/the-world-factbook/geos/pm.html)
$ -2,792,000,000
2008 est.
149 Jamaica (https://www.cia.gov/library/publications/the-world-factbook/geos/jm.html)
$ -2,893,000,000
2008 est.
150 Slovenia (https://www.cia.gov/library/publications/the-world-factbook/geos/si.html)
$ -2,920,000,000
2008 est.
151 Lebanon (https://www.cia.gov/library/publications/the-world-factbook/geos/le.html)
$ -3,023,000,000
2008 est.
152 Sri Lanka (https://www.cia.gov/library/publications/the-world-factbook/geos/ce.html)
$ -3,052,000,000
2008 est.
153 Georgia (https://www.cia.gov/library/publications/the-world-factbook/geos/gg.html)
$ -3,170,000,000
2008 est.
154 Chile (https://www.cia.gov/library/publications/the-world-factbook/geos/ci.html)
$ -3,440,000,000
2008 est.
155 Peru (https://www.cia.gov/library/publications/the-world-factbook/geos/pe.html)
$ -4,180,000,000
2008 est.
156 Latvia (https://www.cia.gov/library/publications/the-world-factbook/geos/lg.html)
$ -4,354,000,000
2008 est.
157 Dominican Republic (https://www.cia.gov/library/publications/the-world-factbook/geos/dr.html)
$ -4,422,000,000
2008 est.
158 Cyprus (https://www.cia.gov/library/publications/the-world-factbook/geos/cy.html)
$ -4,671,000,000
2008 est.
159 Morocco (https://www.cia.gov/library/publications/the-world-factbook/geos/mo.html)
$ -4,822,000,000
2008 est.
160 Belarus (https://www.cia.gov/library/publications/the-world-factbook/geos/bo.html)
$ -5,063,000,000
2008 est.
161 Lithuania (https://www.cia.gov/library/publications/the-world-factbook/geos/lh.html)
$ -5,629,000,000
2008 est.
162 Croatia (https://www.cia.gov/library/publications/the-world-factbook/geos/hr.html)
$ -5,779,000,000
2008 est.
163 Korea, South (https://www.cia.gov/library/publications/the-world-factbook/geos/ks.html)
$ -6,349,000,000
2008 est.
164 Slovakia (https://www.cia.gov/library/publications/the-world-factbook/geos/lo.html)
$ -6,430,000,000
2008 est.
165 Czech Republic (https://www.cia.gov/library/publications/the-world-factbook/geos/ez.html)
$ -6,642,000,000
2008 est.
166 Colombia (https://www.cia.gov/library/publications/the-world-factbook/geos/co.html)
$ -6,761,000,000
2008 est.
167 Serbia (https://www.cia.gov/library/publications/the-world-factbook/geos/ri.html)
$ -6,889,000,000
2007 est.
168 New Zealand (https://www.cia.gov/library/publications/the-world-factbook/geos/nz.html)
$ -11,300,000,000
2008 est.
169 Vietnam (https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html)
$ -11,710,000,000
2008 est.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Ahh forgot to mention, coming in last at........
number 190 United States (https://www.cia.gov/library/publications/the-world-factbook/geos/us.html)
2008 est. $ -673,300,000,000
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Lots of charts topping/bottoming.
Perhaps this will be the turning catalyst
[I]"This weekend, the Group of 20 will gather in London to move forward on reforms to put the US global financial system on firmer ground...
What is US global financial system? Am I missing something?
haha CFO I missed that earlier.
wanted to post a link on the Aussie carry trade which is totally similar to what we have here in NZ of course - note how he warns exporters to prepare for higher rates.
Alan Kohler
They love a sunburnt currency
http://www.businessspectator.com.au/bs.nsf/Article/They-love-a-sunburnt-currency-pd20090918-VYSQG?OpenDocument&src=kgb
its like stretching pieces of elastic or a rubber band
Article from Mike Larson
A fascinating thing just occurred in the global interest rate market: For the first time since 1993, it became cheaper to borrow US dollars than Japanese yen! The three-month dollar-based London Interbank Offered Rate, or LIBOR, slumped to 0.292 percent, compared with the yen-based LIBOR rate of 0.352 percent.....................................Now, thanks to the Federal Reserve’s incredibly easy policy stance, we may be in for “Carry Trade Round Two.” Only this time it’s not Japan’s currency that’s being sold relentlessly to fund risky bets … .....its the US dollar.
Full article
http://www.moneyandmarkets.com/easy-money-fed-fueling-dollar-%E2%80%9Ccarry-trades%E2%80%9D-35501
There's a FOMC rate announcement at 2pm ET on Wednesday 23 September 2009 (6:15am NZT Thursday).
(On the previous Fed Day the FOMC kept the rates in the 0% to 0.25% range).
Downloadable here
http://www.4shared.com/file/134777674/c70d6dde/docs_intermediate_special_reports_FX_Blueprint_091 720091.html
Not sure how this fits in at the proinvestortrader site.
The end of the world (http://www.proinvestortrader.com/?p=3261)
posted by tony
file under Stock Market (http://www.proinvestortrader.com/?cat=1)
This is how it would look like if a big meteorite would hit the Earth.
http://www.proinvestortrader.com/?p=3261
I remember when Sharechat forum was over run with posters. I used to post on there myself, and ST was then the minnow.
Had a quick look at Sharechat today and its seems to be on its last legs. No one has posted there for over a month.
dumbass
29-09-2009, 01:07 PM
hi arco, very much appreciate all your posts, i see your flying solo at the moment.
im a bit out of action at the moment as im studying for exams but still make time to read your posts.
hi arco, very much appreciate all your posts, i see your flying solo at the moment.
im a bit out of action at the moment as im studying for exams but still make time to read your posts.
Hi DB
Yes, I thought ST had become my personal blog :)
Anyway, if I ever get to 10,000 posts I might retire and leave you and Peat in charge.
Thanks for posting and good luck with the exams. Presume these are financial advisor exams :eek:?
arco
yes you've been going for it while I've been away arco!
you'd think others would post something... even if its only its questions or encouragement
I saw nothing of the markets the entire time, and I've been told thats not a bad thing but I'm not so cool with it.
Cant believe how cheap wireless internet is in Aussie. reckon I should be trading with the laptop over there while simultaneously bbqing a sausage on the redcliffe parade.
Hi Peat
Trust you had a good time.
yes thanks. nephew fully hitched now , the bride looked stunning.
got beaten at table tennis by my 80 yr old dad.
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
yes that was a more interesting article than I initially thought it would be....
airedale posted it in the gold thread yesterday so arco you have been officially timelined :p
.
ahh...pipped to the post again.
Next time I will post it the day before its published...that should fix the problem :)
October Currency Trader Mag is available - free PDF
http://www.currencytradermag.com/downloads/index.php
http://www.nasa.gov/mission_pages/LCROSS/overview/index.html
On final approach, the shepherding spacecraft and Centaur will separate. The Centaur will act as a heavy impactor to create a debris plume that will rise above the lunar surface. Projected impact at the lunar South Pole is currently: Oct 9, 2009 at 4:30 a.m. PDT. Following four minutes behind, the shepherding spacecraft will fly through the debris plume, collecting and relaying data back to Earth before impacting the lunar surface and creating a second debris plume.
The debris plumes are expected to be visible from Earth- and space-based telescopes 10-to-12 inches and larger.
I think thats just after midnight tonight NZT
Here's a quote from one of the "moon bombing" team, Brian Day of NASA: "Remember, we've never done this before. We're not 100% sure what will happen, and big surprises are possible." This has to be the stupidest NASA mission ever
Or perhaps this.....................
Massive Ordnance Penetrator: Another Sign Obama Will Strike Iran
The Pentagon has put a new weapon on the fast-track. The Massive Ordnance Penetrator is a 30,000-pound bomb designed to hit targets buried 200 feet below ground.
http://www.infowars.com/massive-ordnance-penetrator-another-sign-obama-will-strike-iran/
yes thats exactly what I was obliquely referring to
I'd seen a thread on another forum about that
and Stratfor have been saying that there have been leaks suggesting that Iran is way more down the path of having a nuclear bomb than everyone supposed.
http://www.stratfor.com/weekly/20091005_two_leaks_and_deepening_iran_crisis?utm_s ource=GWeeklyS&utm_medium=email&utm_campaign=091005&utm_content=readmore
Van tharps email and online newsletter talks about level playing fields and the forex market. He lists the advantages and disadvantages of trading forex...
http://www.iitm.com/Weekly_update/Weekly_445_Oct_14_2009.htm
and concludes
"The bottom line is that the retail forex market is still a bit like the Wild West when compared to other markets. This uneven playing field means that the edge provided by your trading strategy has to be even bigger than normal.
Until we’ve found forex firms that address the “uneven playing field” issues, we think it is more prudent to trade currencies on the futures exchanges such as the CME"
http://www.informationisbeautiful.net/visualizations/the-billion-dollar-gram/ (http://www.informationisbeautiful.net/visualizations/the-billion-dollar-gram/)
This is an amazing representation of the relative size of some historical expenditures and puts the US stimulus package in perspective for just how mind-blowingly massive it really is.
http://img12.imageshack.us/img12/5969/billiondollar960.th.gif (http://img12.imageshack.us/i/billiondollar960.gif/)
Not at all related to trading but relevant to money matters. I just went to this lecture
How to stop the money men from taking over the world (or, when will we face another September 2008)? http://www.auckland.ac.nz/global/images/icons/ical-icon.png (http://www.auckland.ac.nz/uoa/home/about/news-events-and-notices/events/template/hcalendar.ics?cid=202888)
(Lectures)
28 October 2009
6.30pm
Venue: Maidment Theatre, 8 Alfred Street
Political Studies Department and the Bruce Jesson Foundation 2009 Bruce Jesson Lecture by Robert Wade, Professor of Political Economy, London School of Economics.
Taking off from Bruce Jesson’s ‘Only Their Purpose is Mad: ‘The money men take over NZ’, Robert Wade discusses several reforms of the international monetary and financial system aimed at stabilising global financial markets and curbing the power of the financial sector. After considering the easy part - ‘what should be done’ - he goes on to discuss ‘what can be done’, nationally, regionally and globally.
Professor Robert Wade is one of the world’s most prominent independent thinkers about the contemporary challenges facing the global economy. As professor of political economy at the London School of Economics, Wade espouses a heterdox approach to economics in contrast to the prevailing neoliberal/neoclassical paradigm. As an expatriate New Zealander he has continued to contribute to discussions on New Zealand’s economic direction, including in the context of the global economic crisis.
The Maidment bar will open at 5.30pm.
Supported by The University of Auckland Award for Distinguished Visitors and the Bruce Jesson Foundation
_____________________
He demonstrated a history of increasing financialisation of the global economy since the early 80's and says the financiers have staged a quiet coup of politics and convinced them financial markets are self-regulating and that Wall St is vital to US interests.
He suggests the re-introduction of Glass Steagall type laws (repealed in 1999), and that without the separation of commercial and investment banking any other regulation is unlikely to succeed.
He offers the notion that "too big to fail = too big to exist"
He believes international capital flows need to be slimmed and lauded the recent Brazillian move to implement a capital inflow tax.
He sees a time of turbulence due to glaring income inequality which he showed reached a peak in 1929 and was reduced from then till 1980 but is now reaching the same levels if not higher. Then and now 1% of the population earns over 22% of the income. I didnt get the exact figure for what is was at the low but it somewhere between 5 and 10%. Needless to say I saw 3 waves down and 5 waves up in his graph ;+)
I've now closed all my USD long positions in NZD AUD CHF and JPY with all good profits except for the JPY one. Thanks to arco and DA for the Aud posts , its been a good week. Tonight I will rest.
.......... Needless to say I saw 3 waves down and 5 waves up in his graph ;+)
Peat
Very interesting - thanks for the summary
Did you happen to notice how long the previous 3 waves took to play out?
arco
the down component of the graph was from 1929 to 1980 - so 50 years near enough! i.e during this time the income of the top 1% of people reduced from 22.5% of all income down to high single figures. the c part of the wave was long and slow and grinding. I've searched for a graph on the web that is similar and found this - see how c wave was so protracted.
Craig3215
29-10-2009, 02:55 PM
Arco,
Congrats on the blog, I haven't been on this site in a while because I'm no longer in the FX business or working from 11pm to 7am. I will say though I have worked for and currently work for some of the biggest investment banks around with plenty of technical analyst and you are the best chartists I've ever come across so you deserve it.
Good Luck
Craig
the down component of the graph was from 1929 to 1980 - so 50 years near enough! i.e during this time the income of the top 1% of people reduced from 22.5% of all income down to high single figures. the c part of the wave was long and slow and grinding. I've searched for a graph on the web that is similar and found this - see how c wave was so protracted.
Hi Peat
Perhaps a shorter time period this time. That looks like a cup, so all we need now is the handle
I was thinking nothing much was gonna happen because of Thanksgiving weekend, but I'm not so sure now...
miner
27-11-2009, 01:15 PM
Phew that was some big moves,my stop order took minutes to execute,rang broker said due to US thanksgiving,anyone else have problems ?.
Cheers
Miner
sure was a good night miner, I was short aussie cable and SP500, tho I only actually executed trades on Oanda, and no problems there
is this where we say something about the wise man not building his house upon the sand
http://ts1.mm.bing.net/images/thumbnail.aspx?q=1331860220408&id=33c0e45cb3e7481c7ea368c4d409c635&url=http%3a%2f%2fguide.theemiratesnetwork.com%2fli ving%2fdubai%2fimages%2fthe_world%2fthe_world_duba i.jpg
Peat
Re CMC platform. Can you please tell me the low on GBP.JPY on that waterfall candle Wednesday night. (Long black on the left of chart)
Thanks
i had that trade in Oanda arco and yeh it got taken in and stopped out as you probably know
On CMC GBPJPY FX Spot it would have done the same - with a low of 146.07 see here I've held the mouse over the candle so you can see the figures. spreads are larger on CMC too...
possibly not relevant but be mindful there are other offerings in CMC to trade the Ninja such as the 1,2,3,6 and 9mth forwards
OK thanks Peat. FXCM and GFT managed to miss triggering the trade so those guys grabbed their 50 pips 'set and forget' and walked away happy.
Just interested to see how many providers were shy of the entry figure.
arco
the XXX/USD pairs (esp cable) seemed to do a bit of a inverse head and shoulders but that may have completed now, or soonish.
the december version of the Currency trader magazine is now available
In an article "Oceanic Currencies Enjoying High Tide" that discusses AUD and NZD Sean Callow, senior currency strategist at Westpac Institutional Bank in Sydney says 'Many Asian investors see parity on AUD/USD as
a done deal, so dips in the pair, even to high 0.80s, will be seen as opportunities to buy rather than cause for fresh shorts.”
It then says " The Royal Bank of New Zealand (RBNZ)...." LOL - good editing!
Steve
06-12-2009, 08:51 AM
the december version of the Currency trader magazine is now available
Is this an online mag?
Is this an online mag?
Hi Steve
Free here
http://www.currencytradermag.com/downloads/index.php
Steve
06-12-2009, 02:22 PM
Hi Steve
Free here
http://www.currencytradermag.com/downloads/index.php
Thanks Arco! :)
US pensions go bust, gold crashes, China flops, Bunds soar, predicts Saxo
America's Social Security Trust Fund will go bankrupt; both gold and the Japanese yen will crash; and China's currency will devalue as bad loans catch up with the over-stretched banking system – all in the course of 2010.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6835576/US-pensions-go-bust-gold-crashes-China-flops-Bunds-soar-predicts-Saxo.html
Gee Bee
22-12-2009, 09:54 PM
Arco - congrats on the blog - im joining
RazorX
23-12-2009, 12:53 PM
Hi Steve
Free here
http://www.currencytradermag.com/downloads/index.php
Thanks for the Currency Trader link Arco. :)
Arco - congrats on the blog - im joining
Hi GB. Look forward to having you on board.
rgds - Arco
EWI Free week is on Forex this time and starts today for a week.
EWI Free week is on Forex this time and starts today for a week.
this is proving quite useful... I played a number of their calls last night and the only complaint is that my take profits were only set at 150 pips. :D
hows that Vix looking today???
delinky
05-02-2010, 12:50 PM
Who is EWI - do you have a link please? Also are you able to "log in" to Arco's blog at all. I thought even though he is re-assessing his involvement we were still able to look at recent charts etc. Thanks
EWI are Elliot Wave International , run by Robert Prechter andnow one of the largest financial advisory services.
http://www.elliottwave.com/
To get their free week you need to join (free) which does mean you will get their marketing emails - its not too bad though. Worth it for the ideas they provide in my opinion
http://www.elliottwave.com/freeweek/ss_currencies/default.aspx?code=24290
I subscribe to their Short Term Update and Robert Prechters Theorist The STU is a thrice weekly release covering the US Equity markets and the Eur/USD, Bonds , Gold and Silver , costs me about USD70 a month.
Arco's blog is still available but only to existing members now.
delinky
05-02-2010, 01:27 PM
I will have a look at EWI, so thanks for explaining. Yes I realise Arco's blog is only for existing members (of which I am), but for some reason I can't log in at all. As you are also a member I was just wondering if you could log in or Arco has site down at the moment.
http://www.lincolnfx.com/ is working fine for me
the new TV series made in NZ is awesome
Spartacus : Blood and Sand
sex and violence in abundance. 13 episodes in Season 1 .
so worth busting your data cap for.
Silverlight
30-04-2010, 02:04 PM
so worth busting your data cap for.
You still have a data cap? Who is your ISP?
xnet $1.00 a gig, VOIP phoneline, bye bye telecom!
no I dont actually Silverlight.... but if you do it would be worth it ;+)
some light entertainment for traders
The Whipsaw song
http://www.youtube.com/watch?v=LiE1VgWdcQM
My exams are in four weeks - time to knuckle down and hit the books!!!
i think I need more than luck to pass exams on tax and law and insurance stuff and understand equations like this for share value analysis
so I guess I better do some study!
noticed an arbitrage opportunity this morning - doesnt happen often in forex.
EurUSD had gone about about 40 pips with a 20 pip spread.. Of course dont usually trade under these conditions
but USDCHF or EURCHF hadnt moved no doubt just due to the thinness of trading.
Sure enough bang USDCHF dropped 40 pips a bit later.
miner
21-06-2010, 11:57 AM
USD/CHF dropped 50 pips last week(spike),eur/usd just sat there for a while then away it went in the opposite direction,gave lots of time to get the jump,which is why I have apposing pairs such as these on the screens at all times as one will often give you the jump on the other to varying degrees.
Cheers
Miner
last 12 hours looked like something to sell into to me
miner
01-07-2010, 10:58 AM
Some good trades last night peat,one I have been playing with is usd/cad,made some ok pips too.
Cheers
Miner
good stuff !
yeh me too Miner - I definitely seem to be on a roll over here in Queensland.
Time with family , passed my exams, lots of pips, warm(er) weather, life is good.
re USDCAD I saw this y'day (but havent evaluated it myself)
http://uk.ibtimes.com/articles/20100629/forex-technical-update-usd-cad-complete-gartley-at0650.htm
miner
01-07-2010, 12:20 PM
Sounds good Peat,great your exams went ok,ta for the link I had a quick look but you know me isolate and just work my charts.
eur/cad moving the same way was ok also but not as tidy as usd/cad.
Cheers
Miner
Pumice
01-07-2010, 06:45 PM
good stuff !
yeh me too Miner - I definitely seem to be on a roll over here in Queensland.
Time with family , passed my exams, lots of pips, warm(er) weather, life is good.
re USDCAD I saw this y'day (but havent evaluated it myself)
http://uk.ibtimes.com/articles/20100629/forex-technical-update-usd-cad-complete-gartley-at0650.htm
Congrats on passing Peat.
I too have just finished my last uni exam, so I can now officially graduate. (I sat on 23/24th of my degree for a good decade!!)
Pips are coming thick and fast if you are USD bullish; I'm expecting more of the same over the next few weeks and months, but time will tell.
what is your degree in Pumice? thats a long time to wait to finish it off!! well done though.
Pumice
01-07-2010, 09:13 PM
what is your degree in Pumice? thats a long time to wait to finish it off!! well done though.
BBS in Economics. I just had the non core paper to do, but only got around to in when they threatened to cancel all my papers. So I polished it off with a philosophy paper.
How about yourself?
Finishing an economics degree with a philosophy paper - indeed a rounded education ;) Logic or metaphysics?
I am fulltime this year for a one year graduate diploma in Business Studies with the Personal Financial Planning endorsement- it consists of 8 stage 2 and 3 papers.
With these new regulations coming in around the industry I figured there may be some opportunities - got sick of IT work after 15 years
Today I am using a 42 inch TV as my monitor
DVI>>>>>HDMI and the resolution is amazing....
charts are huge!!
percy
24-08-2010, 06:46 PM
Today I am using a 42 inch TV as my monitor
DVI>>>>>HDMI and the resolution is amazing....
charts are huge!!
Loved it.The speakers,do they sound off when the 5 day MA crosses the 20 day MA or do they just play God save the Queen when shares hit new lows?Love to hear Stairway to Heaven when highs go higher.
haha
no I dont use the speakers for that purpose percy but it is configurable.
I've decided to keep the screen :t_up:
Dont think I could stomach going back now
percy
24-08-2010, 07:14 PM
haha
no I dont use the speakers for that purpose percy but it is configurable.
I've decided to keep the screen :t_up:
Dont think I could stomach going back now
Sorry could not help myself.I do look forward to you upgrading to a home theatre set up !!!
Did you finish the paper on cash you were working on.?I found it interesting but have not been able to find the thread again.
yes I completed that review of cash management trusts as per the thread in NZDX
doing some more analysis now of three companies from the SP500 and the NASDAQ. I've chosen Kraft, Activision and Comcast
this sort of stuff
Kraft has a correlation with the SP500 of 0.48
and of 0.37 with Nasdaq
percy
24-08-2010, 09:30 PM
peat,please do not spend too much time on it,as I think your brain is needed on NZ thread owner earnings v free cash.,as Sauce and snoopy are diging themselves into a big hole.They need your help.snoopy is driving sauce to drink,while I worry snoopy may buy some RYM shares.Please do not mention my urgent call for help.
now theres not many threads I dont pop into but that thread is one of them
percy
24-08-2010, 09:45 PM
now theres not many threads I dont pop into but that thread is one of them
Yes I should have guessed you are too clever for THAT>lol.
miner
01-09-2010, 10:55 PM
Hi guys at the end of each day I save my charts with trend lines etc on them for the next day,but when I log in the next day with a duplicate set the daily candles are different.
Also like today if I close my daily candle chart(saved) then open a new one the candles have changed,for example at least the last four candles on usd/jpy daily have changed from what I had saved.
Any ideas ?.
Cheers
Miner
it will depend on what your charting programme is miner.
I think you use programmes different to me.
miner
02-09-2010, 10:33 AM
Hi Peat I use Ava charts,I would have thought that once a daily is finished it's set in stone bit of a strange one ?.
Cheers
Miner
Hi Miner
What about sending them 2 screen shots before/after and see what their excuse is
rgds - arco
miner
02-09-2010, 02:45 PM
Hi arco maybe just the shot bit ?,could do but just about bet will get the problem is at my end story.
Cheers
Miner
miner
21-09-2010, 10:55 PM
Can someone post a free screenshot link,cant find the one I used to use,simpler the better for me,ta.
hey miner
this is the one I use
http://mwsnap.en.softonic.com/
once it is installed then you need to start it
then I use Ctl-Shift-A and then you click twice with the mouse to cover the square area on the screen you wish to capture.
Hope it works ok for ya.
miner
21-09-2010, 11:04 PM
Ta peat,going to send a shot of my dodgy charts,see what they say.
miner
24-09-2010, 04:29 PM
Phew japs hit the sell button again by the look of it.
yeh you wanna be wary shorting yen crosses at the mo
apparently they have a 180b war chest.
miner
24-09-2010, 05:11 PM
Say that again,this time and last time it was looking ok for a short trade then wam away she goes,be ok if they gave you a heads up first :-),it's friday so will leave them to it,let the dust settle and have a look on monday,have a good weekend.
Cheers
Miner
miner
12-10-2010, 03:03 PM
Hi peat eur/usd looks like it may ? be turning south on the daily.
yeh thats what I'm thinking miner but hey I've been wrong before! lol
and we did just have a hammer on the hourly.
stocks maybe losing momentum too
miner
12-10-2010, 04:05 PM
Yep but maybe through trend line on this daily then back to test bottom side of it ,3920 ish before going south ?,or ???.
I just thought I'd blow my own trumpet a little with all the results having come through for my studies this year and I can now officially say I have the graduate Diploma in Business (Personal Financial Planning).
In the final semester I got all three A passes and one B+ so given I worked in IT for 15 years before doing this I think it was a pretty good transition.
I am now going to go through the final regulatory hoops of becoming an Authorized Financial Adviser and am looking for work within the Finance industry so please feel free to contact me if you have any opportunites or know of any.
YAY!
Pumice
02-12-2010, 08:58 PM
Congrats Peat!
Fantastic grades too.
I actually just graduated last Friday, feels good to finally have that piece of paper.
Keep us informed on how you go finding a position, I've also been looking for something within Finance, but doesn’t seem to be a lot out there.
Who did you do it through by the way?
Congrats to you too Pumice.
I studied extramurally via Massey University. so it was all done at home really. I only had to go to Massey's Albany campus to sit the exams and attend a few tutorials. Re the grades, yes I definitely got better in the second semester in terms of actually preparing for and sitting the exams.
Yes employment is going to be a challenge with the lack of work experience so I'm expecting it will take some time. The Reserve Bank wouldnt take me for their new Auckland office hahah
Still, summers here so its not a bad time to be free ;+)
And I will be offering comprehensive financial plans to anybody who is interested too. Have a few lined up already to get me rolling.
miner
02-12-2010, 11:43 PM
Good on ya Peat,all the best with finding the job you want.
Cheers
miner
I just thought I'd blow my own trumpet a little with all the results having come through for my studies this year and I can now officially say I have the graduate Diploma in Business (Personal Financial Planning).
In the final semester I got all three A passes and one B+ so given I worked in IT for 15 years before doing this I think it was a pretty good transition.
I am now going to go through the final regulatory hoops of becoming an Authorized Financial Adviser and am looking for work within the Finance industry so please feel free to contact me if you have any opportunites or know of any.
YAY!
Congratulations Peat - you are presently one of a small number with those qualifications
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10691436
Xerof
03-12-2010, 12:10 PM
Well done Peat :t_up::t_up:
I hope they don't have "experience grades" for AFA's, as the first level would undoubtedly be Junior...... :blush::blush:
Congrats Peat!
Keep us informed on how you go finding a position, I've also been looking for something within Finance, but doesn’t seem to be a lot out there.
First paid work is a few months contract helping a loss adjuster with business continuity claims from the earthquake. Administrative stuff but all good experience and pays well.
How you goin Pumice?
Pumice
06-03-2011, 08:39 PM
Hi Peat,
Well done on getting the contract work.
I havent had a lot of time to look for anything new, currently forecast and budget time at Fairfax so will be flat out for a few months (especially with the Chch quake).
But have now made plans to move to Brissy in June.
Still trading forex? how's that going?
Pumice
09-03-2011, 01:35 PM
Hi Peat, you might actually be able to help me here.
How do i go about getting a certificate that satisfies the following clauses
Or does anyone else have any advice.
Hi Lance,
In order for an "experienced" investor to invest in Aquaflow, the Securities Act requires that the investor:
(a) get a certificate from an independent financial service provider certifying that the provider is satisfied on reasonable grounds that you, as a result of having "experience" in investing money, or experience in the industry in which Aquaflow operates, are able to assess—
(i) the merits of the offer; and
(ii) the value of the security; and
(iii) the risks involved in accepting the offer; and
(iv) your own information needs; and
(v) the adequacy of the information given by Aquaflow; and
(b) the financial service provider gives you, before the shares are allotted to you, a written statement of the financial service provider's reasons for being satisfied as to those matters; and
(c) you sign a written acknowledgment, before the shares are allotted to you, that—
• the financial service provider has given you neither an investment statement nor a registered prospectus relating to the shares (as these are not required if you are "experienced"); and
• you understand that you will not receive information usually provided by an issuer in respect of an offer of securities to the public including (in particular) an investment statement and a registered prospectus (once again, as these are not required if you are "experienced").
Once you have this certificate, we can quickly arrange for a share suscription agreement, and for you to send funds to our account. Shares can then be issued. Please ensure your financial adviser adheres to the requirements of the certificate set out in this email. If your adviser wants to look at the Securities Act themselves, you can direct them to section 5(2CE).
The shares will be issued at AUD$0.15 per share. We will exchange to NZD$ on the day funds are to be sent, so we will know exactly how many NZD$ you need to send. We will liaise furter on this once you are ready.
Please let me know if you have any questions.
Regards
Rebecca
hey Pumice
the first question I would ask is why you want to be investing in something that is encouraging you to be opting out of the normal means of protection afforded to investors such as a prospectus and investment statements but of course you may have good grounds.
under NZ Law until July I believe that anyone can call themselves an independent financial advisor so maybe get a friend to sign such a document or if you wanted to discuss it in more detail with me I could do it for you (not that I am an authorised financial advisor under the new regulations either)
but this issue is being made under Australian law I assume so not sure how that affects it. other than that just a matter of working through the request I would think.
Pumice
17-03-2011, 01:28 PM
Worst trading moment ever! buy USD/JPY at 80.115.................... minutes later..... 76.097
Atleast the NZD is falling fairly steadily
Toulouse - Luzern
22-03-2011, 10:33 AM
Worst trading moment ever! buy USD/JPY at 80.115.................... minutes later..... 76.097
At least the NZD is falling fairly steadily
14 Minute Trade
Entries from Toulouse' Trading Diary ...
Market entry on NZDUSD
• 22 Feb 2011:
• Spent from 11.20AM to 1.19PM watching the MarketMaker charts deciding whether to bid on NZDUSD or AUDUSD
• Selected NZD as stronger overnight performer and from TWP, DailyFX and SMH Business Day information.
• Decided the enter on weakness ...
• A few minutes later both stronger
• Fall from 7626 to 7576 in 10 – 20 minutes 50 pips
• What will happen next?
• Entry Strategy: Decided to enter at market (7568) as previous experience of Limit buys was missing out on a rising market and spending time and energy waiting to get in later
• Initial target and stop loss was 20 pips
• My entry was in response to a sudden drop of NZDUSD, I did not know the reason and assumed it was just market variations
• Before I had completed entering my OCO sell orders Mxxxxxx rang and advised me that there had been an earthquake in Christchurch of 6.2
• Potential downside right on the entry ...
• NZ Herald website: The Christchurch police central police station has been evacuated and there are reports of collapses of many buildings, including a church in the central city.
• TV3 footage showed damage to the city's iconic cathedral in the square. Radio New Zealand said there had been reports of injuries
• The quake was at 12.53PM
• I saw the chance to enter, I didn’t know about the quake until after the entry was made
• I was in the trade at 1.28PM
• I was sold out at the stop at 1.42PM while I was talking on the phone with Dxxxxx who rang from Melbourne
• In the trade 14 minutes
• GeoNet Reference Number: 3468575
• NZDT: Tue, Feb 22 2011 12:51 pm
• Magnitude: 6.3
• Depth: 5 km
• Details: 10 km south-east of Christchurch
• My exit was 7548 the low was 7541
• The trade was never in profit
• Stand aside on NZD trades until next week at least
• There has been a recovery
• I entered at 75688
• I exited at 75488
• Low was 7541
• The current price is 75584
• Jxxxxx, Axxxx, and Sxxxx came around ...
• After they went noted that NZDUSD down 12 pips from 2.03PM to 2.36PM
• The 5 minute bar I exited on was the lowest price for the day ...
• Note RBNZ Governor due to deliver inflation expectations at 3.00PM
• Post Trade Review:
• From a timing point of view entered without certainty as to what caused the drop in price.
• From previous experience it is hard to find reasons for sudden price drops beyond market variations on the web...
• During live trades run the risk of knocking out MarketMaker while searching the web ...
• This was a successful trade as the trade was flawlessly executed to the strategy even though the outcome was a loss.
• Continuing to make lower Lows (30m Chart)
• 16 pips below my exit
• Quake hit NZX50 as well
• Down 20 points
• Good Outcome
• Executed the strategy...
• Minimised the loss (:-)
• Continues to fall ...
• 7497
• I exited at 7548
• NZDUSD fell again to 7464/67
• On the 4 hour lower Bollinger band
• BNZ Daily Newsletter
• The immediate market impact of the quake saw the NZD/USD fall ¾ cent to around 0.7560
• Yesterday afternoon and overnight, the NZD extended its losses as the news from Christchurch continued to worsen. Heavy NZD/USD and NZD cross selling from a mix of momentum and short-term speculative accounts saw a further ¾ cent knocked off the NZD/USD and widespread weakness amongst the NZD cross rates.
• The NZD/AUD finished the night around 0.7500, from above 0.7570 before the quake. NZD/EUR and NZD/GBP both shed over ½ cent.
• Initial support for NZD/USD will be found at the overnight low of 0.7440, while near-term resistance will be encountered on any bounces towards 0.7550.
Pumice
01-04-2011, 07:38 PM
Hi Peat, you might actually be able to help me here.
How do i go about getting a certificate that satisfies the following clauses
Or does anyone else have any advice.
Hi Lance,
In order for an "experienced" investor to invest in Aquaflow, the Securities Act requires that the investor:
(a) get a certificate from an independent financial service provider certifying that the provider is satisfied on reasonable grounds that you, as a result of having "experience" in investing money, or experience in the industry in which Aquaflow operates, are able to assess—
(i) the merits of the offer; and
(ii) the value of the security; and
(iii) the risks involved in accepting the offer; and
(iv) your own information needs; and
(v) the adequacy of the information given by Aquaflow; and
(b) the financial service provider gives you, before the shares are allotted to you, a written statement of the financial service provider's reasons for being satisfied as to those matters; and
(c) you sign a written acknowledgment, before the shares are allotted to you, that—
• the financial service provider has given you neither an investment statement nor a registered prospectus relating to the shares (as these are not required if you are "experienced"); and
• you understand that you will not receive information usually provided by an issuer in respect of an offer of securities to the public including (in particular) an investment statement and a registered prospectus (once again, as these are not required if you are "experienced").
Once you have this certificate, we can quickly arrange for a share suscription agreement, and for you to send funds to our account. Shares can then be issued. Please ensure your financial adviser adheres to the requirements of the certificate set out in this email. If your adviser wants to look at the Securities Act themselves, you can direct them to section 5(2CE).
The shares will be issued at AUD$0.15 per share. We will exchange to NZD$ on the day funds are to be sent, so we will know exactly how many NZD$ you need to send. We will liaise furter on this once you are ready.
Please let me know if you have any questions.
Regards
Rebecca
Has anyone out there in Sharetrader land invested in Aquaflow? or know much about them? seems like a good idea to me, but is quite hard to find information on these guys.
tweet of the day from LaMonicaBuzz (http://www.sharetrader.co.nz/#!/LaMonicaBuzz) Paul La Monica
If Fed had sense of humor, it would fly Bernanke into Jackson Hole on helicopter and parachute him onto stage with a trillion in $100 bills.
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