[smwinc]

Originally Posted by Soultrader »

Good point brownsfan. Be prepared for the unexpected. During the credit crisis, I saw many senior traders sweating their balls off as they could not believe prices could drop so low. The best injstituional traders I met always hedged their positions during these times in case something unexpected and unfavorable happens.

Our entire office has been filled with us yelling, banging mouses, tables, kicking chairs, etc.

There were guys coming in for interviews as we are there screaming every type of swear word that comes to mind.

Bring your A-Game.

[james_gsx]

I'm going to bump this. It looks like next week is going to be another turbulent one. JPM bought BSC for $2 a share and the Fed just lowered rates by 25bps and extended it's loans for 6 months.

Good trading everyone.

[torero]

Dang, the more the Fed pumps, the more the leaks are opening up. This is like a little boy plugging a hole in the dam with his finger... just the beginning of more things to come I think. First bailout since 29 crash.

The currency market is going nuts, some dropping GBPJPY dropped at least 10c during Tokyo hours... very volatile, indeed.

[smwinc]

Key will be if BOE or ECB do anything, or if we get any government intervening in their currency movements. Traders already know the Fed is their bitch; we will soon see how other's start to react.

[torero]

That's true, but I have the impression BCE sees this as the Fed and US problem, not Europe's problem. I don't see the damage in Europe was as large or widespread as in US. I think the banks here impose high qualifications to obtain loans/mortgages. The US banks just binged bending their own rules on loans and are now purging... bulimic behavior. So far Trichet has only focused on containing inflation, nothing more. BOE, no idea, they can go either way I think.

[Blu-Ray]

Originally Posted by torero »

That's true, but I have the impression BCE sees this as the Fed and US problem, not Europe's problem. I don't see the damage in Europe was as large or widespread as in US. I think the banks here impose high qualifications to obtain loans/mortgages. The US banks just binged bending their own rules on loans and are now purging... bulimic behavior. So far Trichet has only focused on containing inflation, nothing more. BOE, no idea, they can go either way I think.

Well said, I think the BOE is swinging more towards containing inflation as well.

Cheers

Blu-Ray

[torero]

So far only Norther Rock was the problem which has been bailed out already. Seems other banks in UK don't seem rocked by it (pun intended). UK's economy is closely tied to US than to US, so if they are focused more on inflation, chances are Europe is even more focused on inflation than the other side.