Now that the entire world has been ailed out by the respective governments what's next? A continued global recession that's what. I suppose the "end of the world" has been adverted and the sky didn't fall.........yet!
So the gov's of the world are the new bankers? What happens when the bill comes due? The US Gov certainly doesn't have this kind of cash and I suspect neither does anybody else short of China. So basically China is the Bank Of The New World Order!
The trader says trade. If the bailout did nothing else, it has made for some nice runs in all major currencies. The carry trades have been good for some huge moves nicely telegraphed for those traders that were looking. EUR/USD, USD/CHF, GBP/USD and many other pairs were ripe for the picking. Heck, just by reading this blog the average trader should have made some nice pips.
Where are the markets heading? Who knows. Don't try to predict, trade the chart baby!
Monday, October 20, 2008
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