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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Grandk who wrote (41630)	10/22/2008 1:07:19 AM
From: Grandk	Respond to of 220326

I believe I need to adjust my target down to 123ish on the EUR/USD cross. UGLY.

To: Grandk who wrote (41630)	10/22/2008 1:37:49 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 220326

My initial target for the EUR 4 months ago was 1.35 - I went long briefly from below 1.35 only to close slightly above 1.3510. At present time I am short against way into the money PUT and collect interest rate differentials. As to targets I am waiting for the irrationality to subside. For too long, markets ignored the problems in Spain Greece Romania Bulgaria Hungary etc. - now the markets are over amplifying the severity of the situation as if the US is on a recovery path. The irrationality is unbelievable - there is no need to lower interest rates - but there is urgent need to restore confidence and in this regard all the politicians around the world failed. Obama rhetoric with his white lies (tax deduction for 95% of Americans) are only adding to the lack of credibility As far as I see the situation is that a financial system centered around the USD has lost it's marbles The losses amassed by the real economy around the world are plain staggering – it will take a long time for those losses to be recovered. The blame rest with all the incompetent politicians and central bankers who let the orgy in complex derivatives instrument flourish. In the US a big part of the blame aside of WS are the Democratic Congress who resisted the raining in of Freddy and Fanny and other “innovative mortgages”. It would be unconceivable that senior employees at Commercial Banks, Insurance, WS, LBO’s will walk away with their grotesque and ill achieved compensation for up to the last 5 years