Forex rebates on every trade - win or lose!

What a tough life you have Hils, the trials and tribulations of an active Fx trader.

Oh, and my stop's just above 1.88 :-0

Just got back to see I am now long(just), fairly tight stop!

It's a dirty, rotten job, Seymour. But someone's got to do it.

:o)

I've taken a small profit and put a much lower buy order in now, roughly where my stop was!!

Tomorrow's another day, will have little time to screen watch tomorrow.

Hils, it's people like you that make this country great, thanklessly grinding away at the coalface. Your efforts are not going un-noticed by ... let's just say I have friends in high places.


Tower blocks mainly.

And I slept through most of it :S
But Mr Grumpy brought home the fruits of today's toils earlier - a nice fat brown trout :)


Dollar rises against euro, yen
AFX

NEW YORK (AFX) - The dollar regained a little ground against the euro and yen Tuesday after dropping sharply the previous day on disappointing U.S. economic data.

The euro bought $1.2727 in afternoon New York trading, down from $1.2742 in New York late Monday. The British pound advanced, however, to $1.8872 from $1.8866.

The dollar rose to 117.89 yen from 117.60 yen. The Japanese currency was pressured by North Korea's announcement that it will conduct a nuclear test.

On Monday, the euro gained more than half a U.S. cent after a report showed U.S. manufacturing growing at its slowest pace in more than a year.

Slowing growth could reduce pressure on the Federal Reserve to raise interest rates. Rising rates have buoyed the dollar for the past two years. They can bolster a currency by making certain types of investments more attractive.

Investors were looking ahead to comments from Fed officials -- including Chairman Ben Bernanke -- expected on Wednesday for any hints on the central bank's future course. The Commerce Department also releases its report on August factory orders on Wednesday.

Although Monday's data helped push the dollar down, 'the currency markets still need signals from the Fed that rates will not be raised anymore to fight inflation and instead will be cut to offset the slowing housing market,' said Mansoor Mohiuddin, senior currency strategist at UBS in Stamford, Conn.

In other trading, the dollar bought 1.2451 Swiss francs, up from 1.2424 late Monday, and 1.1206 Canadian dollars, up from 1.1152.

LA Times

Meghan Daum: Housing Party Collapses
But that doesn't mean we can't be tempted by a schadenfreude sale

September 30, 2006
THE ANTIDEPRESSANTS said it all. There they were (or, technically, there
they weren't): an empty bottle of Lexapro sitting atop a pile of used-up art
supplies, dirty clothes, old copies of sporting gear catalogs and an
unopened property tax bill. Elsewhere in the mostly empty house, wires hung
from ceilings where light fixtures had been ripped out, gaps yawned beneath
kitchen counters where appliances had been removed and apparently sold
and, most heartbreakingly, paintings done by the owner hung on the walls with
price tags by their sides.

This was not a scene from ransacked New Orleans. This was what I saw
Sunday in a hilly Los Angeles neighborhood in a house that was facing imminent
foreclosure by the bank. The owner had purchased it with a five-year,
low-interest loan for more than $100,000 over what the real estate agent was
now trying to get. The house, the broker explained to me and my partner in
voyeurism (we'd spent the afternoon visiting open houses, but it was chiefly
to scrutinize people's bookshelves), was weeks away from being auctioned off
by the bank. This was our chance, she implied, to get a great deal by taking
advantage of someone else's royal screw-up (call it a schadenfreude
sale!) And even if we didn't want the house, she said, we could buy a painting; the
prices were negotiable.

So I guess it's official: The real estate market is tanking. On Monday, the
National Assn. of Realtors reported that, for the first time in a decade,
the average price of a U.S. home actually declined. In California, sales of
existing homes in August were down 30.1% from August 2005, which is the
steepest year-over-year drop in almost 25 years.

But like children, houses are highly efficient delivery systems for denial.
Just as no parent would admit that his or her offspring - no matter how
costly, ill-behaved or intimately acquainted with the juvenile justice
system - is anything other than a source of unmitigated joy, people who own
their homes will tell you that the market is just fine. Best to listen to
National Assn. of Realtors chief economist David Lereah, who said in a quote
in this paper Monday: "This is the price correction we've been expecting -
with sales stabilizing, we should go back to positive price growth early
next year."

Hey, great! Problem is, that same article also quoted another economist who
said that "the speed of the collapse has been astonishing" and predicted "no
chance of any short-term relief." Translation: If you're a renter, you now
have permission to be as self-satisfied as the homeowners who once taunted
you with their dizzying appreciation rates. As for us owners, we can just
cover our ears and sing "Correction! Correction! I can't hear you!" until
things start looking up again.

Such was the dynamic Sunday when I, a deluded homeowner, and my co-voyeur, a
smug renter, stumbled upon the soon-to-be-foreclosed house. In the time it
took to cross the threshold, our ongoing argument about the housing market
was rendered irrelevant, replaced by an indescribable hunger.

The house, a lush, breezy villa with enormous windows and a majestic
fireplace, suddenly made our own perfectly decent homes seem like airless
hovels. Each room we entered was like a drug that made the next room that
much better. Never mind that the deal potentially involved assuming a
suicidally low- interest loan that would have to be refinanced to
astronomical levels in just a few years. Never mind that, as we later
discovered, the house had been on the market since April, listing at almost
$1.1 million and then $899,000 before dipping to its current price of "just
make a reasonable offer." Never mind that we were in no position to buy a
house together, separately or with the entire string section of the L.A.
Philharmonic (as the payments would likely require). All that mattered was
the moment. And in that moment, I, for one, could see nothing but my own
desire.

But that's the way real estate works. As much as it's about numbers, the
more powerful current running through our national obsession with housing
has to do with how it makes us feel. There's no adrenaline rush quite like
the one you get from walking into a house that is not only wonderful but
also for sale. I imagine that's the rush experienced by the doomed seller of
this manse when he first saw it, before his life spun out of control in ways
that not even Lexapro could do much about.

It's certainly how I felt in the empty, sun-drenched living room that
afternoon. Even as the seller's artwork evoked the final cries of a dying
animal, the rooms buzzed with a kind of euphoria that real estate is
uniquely qualified to deliver. For a brief moment, we can tell ourselves
that a new house will fix everything. At first glance, it can bring a level
of happiness that the brain can't seem to manufacture on its own.

The catch is, the Lexapro bottle was empty. Call it a correction or call it
a crash. Either way, the party's over.

My 8855 target was just about hit at 17.40 today - 2 out of 2 today. I might have to do this more often :-)

You got it now H :)

Seymour,

High places? Do you live near Nelson Mandela House? We might be neighbours.

Cable's starting to look a bit more respectable this morning. Patience Rodney.

Long Cable 1.8839 early doors..

excellent entry foale.

Didnt expect cable to orbit this early so missed my entry :-(

I don't know what made me think of it, but it occurred to me last night as I was watching The Outsiders. Cerise is cherry. Crimson is cramoisi.

morning all, hilary whats the digit colour scheme today? Choc, never said thanks re forexbastards sight, you got any other goodies to look at?

stop got hit last night(surprise,surprise). Flat at the moment

Morning all, nice entry Foale. Mine not taken.

Hils, not sure where you are, I live near the Harold Wilson Recreation Centre. You can probably see it from up there.

Hmm, order in at 48, I wonder?

edit long at 59

SC, I was just about to say spot on, then saw your edit

I'm personally looking for this to go a lot closer towards 1.88 before it becomes a buy. I might be wrong, but I'm reading Piers till then.

Tend to agree Hilary - confusing indicators which is preventing me going long for now. My 5 min p&f chart is giving a target of 8805 but I'm not sure how reliable 5 min targets are yet as I don't often use them. We'll see anyway.

off to the gym, see if the charts are a bit clearer when I get back,
luv totally confused from spain :))))))