Traders Talk: Long Term Market Direction

Traders Talk:
[17:29:39] Nikos: G7 to intervene on the JPY, if taken seriously we might see some up action
[17:32:48] jordan: I was wondering about that the other day. So it is not just Japan intervening now but the G7?
[17:33:39] Nikos: yes, for the first time they were very clearly expressing this
[17:33:45] jordan: all past interventions have been successful, although I am not sure Japan's alone would do anything right now. If the G7 intervene in the Yen that is a whole another story
[17:34:10] Nikos: They said clearly they would
[17:34:51] jordan: no unusual market reaction yet
[17:36:12] Nikos: true...some bounce on the EUR though...and a bit slower on cross selling
[17:36:51] jordan: any current thoughts on eur/aud?
[17:37:25] Nikos: I have no idea on that...sorry
[17:37:54] jordan: i was thinking about it yesterday. AUD is highly tied to gold since gold mining and exporting make up a BIG part of Australia's economy
[17:38:33] jordan: I expect gold to rise significantly from here so long term AUD will make huge gains on the EURO
[17:39:27] Nikos: Sounds very logical
[17:39:55] jordan: looks like selling into all new highs from here is a good way to get into a large position. that's really all i can do, simple logic
[17:41:26] Nikos: you are right...i think for the guppy we should watch 166 or near there to go short if not broken upwards
[17:42:16] jordan: let's see though. Britain's economy is in recession and in trouble as it is built on nothing sound
[17:43:08] jordan: and Japan's although declining is still showing growth (china showing 9% growth (Asian economy is strong and will be stronger in things to come).
[17:43:59] jordan: so from this we know guppy is headed much lower. We do not know however what the intervention will do expect cause volatility.
[17:44:56] jordan: The intervention will not be able to stop the market from adjusting
[17:45:24] jordan: does not mean we could not see upwards of 166
[17:45:46] jordan: before the double digits
[17:47:21] Nikos: as I said I believe that we must clear 154.50 before we can think of up, but then I am with those that believe that it wont be more than 166
[17:47:39] Nikos: then down down down
[17:49:16] Nikos: anyway if i new for sure 1. I would share it with you 2. We could all create the largest charity fund on earth
[17:50:30] jordan: i have no idea what it is going to do in the process either, but it is headed down much further so selling into any strength seems logical to me. haha yes!!
[17:51:20] jordan: I believe Nikos! we are all going to create the largest charity fund on earth!
[17:52:00] Nikos: Believing is the strongest force gift given to mankind
[17:52:36] Nikos: so it is important to be blessed to believe in the proper direction


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