Lights, Camera, Action : ShutDown, Take 2
When all hope is lost, Hollywood to the rescue.
This is like the movie Armageddon or one of those Independence Day things. Bruce Willis saves the day ! Aerosmith in the background, girl thinks boy is dead, then a miracle happens. Don’t we all love Hollywood ?
Now we have Hollywood in our lives !
Check out the charts.
The moves were designed to instill SHOCK and AWE, with the DOW and S&P 500 rallying over 2% to reward the faithful.
Not everyone is lucky this time round, we now know that trading is getting concentrated in the hands of a few and they are all too big to fail. Hedge funds ? If you are lucky and good friends with the banks, you will get access to the order books and darkpool levels that will aid you greatly.
Poor FX Concepts is closing down.
“FX Concepts LLC, the currency hedge fund founded by John Taylor that was once the world’s largest, will shutter its investment-management business….
The New York-based hedge fund’s assets under management shrank to $661 million as of Sept. 26, from about $12 billion in 2009”
For the past 3 days, markets have been going on the same routine I notice in Asian hours. USDJPY starts with a rally which dips down at about 2 pm when London comes in and then resumes. AUDUSD starts with a dip then buying into London time sticking to a range. The markets are programmed to behave according to the script.
Because if you don’t, its either FX Concepts or this for you.
“NEW YORK – A former senior bank examiner at the Federal Reserve Bank of New York filed a wrongful termination lawsuit on Thursday, saying she was fired after refusing to alter a critical examination of Goldman Sachs Group Inc.”
Be good, don’t think too much, follow the script and you will be ok.