Whats going on in Switzerland?, page 1

www.businessinsider.com...

"Swiss Central Bank Mysteriously Intervenes In Its Currency Market, Causing Chaos"

IMO the whole GD thing is unraveling in Europe.

Wait for it.

reply to post by silent thunder

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haha, but its allowed so no harm no foul

but its interesting, not all pairs have reacted to it - crazy really, i wonder who is running the show

also like some crazy volatility in EUR USD today like probably a billion lots shorted at one time I would say today price dropped like 20 pips instantly.. nuts so much money to be made shorting that pair lately.. but i do caution that route sun/mon/tues

reply to post by leo123

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What do you mean crossing over today?

You are short right now EUR USD I take it?

I think this news coming that Trichet is leaving early to go back to get this deal done with put EURUSD at 1.38 before next fall. Thats where my TP is at least, I will resume shorting from there.

Also getting long (already am) EUR/AUD - I think its time for AUD and NZD to really eat it (as they have been lately)

reply to post by mr-lizard

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Banking Intervention

CHF (SWISS) Pumping money into Foreign Exchange markets.

The dirty thing is they give no warning, but FOREX trading is unregulated unlike US Markets (or 99% of markets) except for OTC (over the counter)

They were pumping up the value of US DOLLAR to CHF (SWISS)

Does that make sense?

By doing this they were devaluing currency.

[edit on 8-2-2010 by GreenBicMan]

[edit on 8-2-2010 by GreenBicMan]

www.zerohedge.com...

The long anticipated carry trade collapse begins.

Bail now suckers.

reply to post by leo123

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haha no it never did occur to me?

why would that occur to you?

because tyler durden said so?

dont get suckered into that nonsense, trade by what you see.

not trying to be mean, but i want your opinion on what you stated earlier and the trade crossing. what does that mean exactly?

Originally posted by GreenBicMan
reply to post by leo123

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haha no it never did occur to me?

why would that occur to you?

because tyler durden said so?

dont get suckered into that nonsense, trade by what you see.

not trying to be mean, but i want your opinion on what you stated earlier and the trade crossing. what does that mean exactly?

Don't trade by what you see - there is some serious # going down here that will make no sense, short term, but in the big picture of things it will.

Think forced debt deleveraging on all levels. Namely, get the # out of town as all bets are off for months to come.

reply to post by leo123

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What are you basing this on?

What pairs are you speaking of?

If you trade by this method you might as well use moon cycles as well.

I am short EUR USD long term, thats easy, but think there is a consolidation bounce to be had here - trading higher in asia so maybe this will happen

I only play technical s though, but what did you mean about this crossing?

I can't figure it out.

Originally posted by GreenBicMan
reply to post by leo123

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What are you basing this on?

What pairs are you speaking of?

If you trade by this method you might as well use moon cycles as well.

I am short EUR USD long term, thats easy, but think there is a consolidation bounce to be had here - trading higher in asia so maybe this will happen

I only play technical s though, but what did you mean about this crossing?

I can't figure it out.

You have my opinion - take it or leave it.

Best out there.

reply to post by leo123

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what?

lol explain yourself?

don't tell me you are just talking rhetoric spewed from others, if you actually trade, it's going to hurt you in the long run by doing this. just some friendly advice my friend

GBM- As always fascinating and realist take on things- very astute.

As a naive Bank for Intl Settlements nut, I am tempted to propose a link between this and the recent Central Banker Meeting in Sydney.
www.abovetopsecret.com...

Here's my suspicion-
-Seemingly large scale intervention less than 1 week after said Summit.
-BIS is Hq'd in Basel Switzerland.
-Regarding the Settlements and currency portions of BIS -areas where large-scale movements can exist (in my understanding)- maybe the manipulation is spreading more and more from domestic markets to international stuff in order to stave off global systemic failure. Could any of this be possible to you economists?

Whether or not this is some calculated move between major central banks and for what reasons, I'm still curious what the supposed benefits would be for Swiss.

reply to post by Moonsouljah

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Not sure either.

Article says could have been a fat finger.

Although you would think a bank would have much better automated coordination than that. Thats why I do not believe that, but its a story.

Realistically all it did was cause a huge whipsaw and guess what? At the end of the candle it was even haha on 1 hr scale. That means it did absolutely nothing (GBP/CHF talking about) but cause a short term "upsetting". I got stopped out trying to play it lol, im sure others did as well. In the end this means nothing actually, but everyone is entitled to an opinion.

I was only watching that pair and not others so I cannot speak for other pairs.

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