I Closed the GPB/CHF for about +80 pips (high was around +135pips).

The 3 other positions are still open.

I think about a long eur/usd ,gpb/usd  and a re-entry into gpb/chf.

But i will wait for maybe another hour to watch price and to decide then which one i will open as i want maximum 4 short term positions open at the same time.

“We’re not in a recession, we’re in a slowdown,” Bush said at a news conference at the end of a two-day summit with Canadian Prime Minister Stephen Harper and Mexican President Felipe Calderon.

Haha what an idiot !!   But this meeting of the “leaders” of Mexico ,USA and Canada remind of the North American Union stuff..

Here a pic (still don’t know if those are for real)!!

Big Picture ->

Credit Suisse Takes Bigger Than Expected Writedown

Credit Suisse, which heretofore looked somewhat immune to credit market problems, has joined its peers in having a loss-making quarter. A Sf5.3 billion writedown on leveraged loans and mortgage instruments was the proximate cause.

Note the quarterly deficit was more than three times the consensus estimate. The CEO was also loath to declare the debt crisis to be in remission.

“This bear growls on”

In a post at the Telegraph, Ambrose Evans-Pritchard reviews the case for why the credit markets might be on the mend and finds it wanting. While some of his arguments are familiar, the part I found interesting was his belief (contrary to Wolfgang Munchau at the Financial Times’ piece “Pessimism about the eurozone is misplaced”) that neither Europe’s banks nor its economy will fare well: “Far from being the shock absorber, Europe may prove to be the accelerator of this post-bubble denouement.”

Economics ->

Front Page Coverage, But Where is the Economics?

The Wednesday April 23rd edition of The Washington Post has a story about a UN report on the food crisis that is spreading throughout the world.  The proposed solution to the “silent tsunami” is government policies of aid and a mix of command and control.  Josette Sheeran of the World Food Program is quoted as stating that “I think much of the world is waking up to the fact that food doesn’t spontaneously show up on grocery store shelves.”

Didn’t Adam Smith tell us in The Wealth of Nations that the butcher, the baker and the brewer provides us with our daily meals not due to benevolence but self-interest directed toward mutually beneficial exchange?

Closed the G/U short with -20pips instead of -35 which i originally risked.

This trade was unnecessary.

I added a GPB/USD Short @ 1.9756 with SL @

I also think i made an error with the AUD/USD long as i did not check the daily chart..i am thinking about close&reverse to a short.

I am waiting & watching for now..enuff positions open for today..

I longed the AUD/USD again..this time my entry should take me aboard the long term trend.

I Entered @ 0.9474 with an SL @ 0.9422

Big Picture->

Carry On Insider Trading  +++

Credit Suisse Forecasts 6.5 Million Foreclosures  ++++

What Does the President Know, and When Did He Know It: “We’re not in a recession…” ++

Ambac on “Suspicious” Transactions ++++

Starbucks: “sharp weakness in the U.S. consumer environment” ++

Credit Suisse Forecast: 6.5 million Foreclosures by 2012 ++++

 Forex->

Why the Dollar is Rallying +++

Big Picture->

Never Say Retire!   +++

Deflation In A Fiat Regime?  +++

Those Naughty Speculators !  +++

McCain And Clinton: Two AIPAC Nuclear Pod People +++

Abnormal Returns Wednesday Links

Radical diversification and the 200 day moving average

Dirty Economic Indicator of the Month ++

China Acts To Bolster Stock Market ++

Ambac expects losses of 81.8% of underlying collateral +++

Behind TV Analysts, Pentagon’s Hidden Hand ++

Helping the Banks is not free +++

The Credit Crunch is Dead! Long Live the Credit Crunch! +++

RBS to Sell $24 Billion in New Shares +

Ambac Gets Crushed, Another Bank Wobbles +++

Economics->

Economics 101: The Price of Gas +++

The Sudden Emergence of Tom Paine  +

Feed the World ++++

Misc->

Easy Ways to Go Green with Your Computer ++

SuperMemo Helps You Remember Everything Before You Forget +

Startling Aids & HIV Statistics by Country ++

Digital Currency’s Close Cousin ++

Ron Paul - The Double Trouble of Taxation +++

e-gold Wins Appeal in D.C. Circuit for Hearing on Asset Seizure ++

As usual some of these articles may be outdated ,but i assume them none-the-less essential reading.

In future i will not cite the web site & blogs where they have their origins,because the links directly lead u there. I think i can get them blogged and linked much faster, if i do it this way. I will add pluses (5of5 = awesome reading) until i found an widget to add my rating.

The Yen broke an important Trend line on my charts (marked with an arrow),which supports my idea of buying the 3 carrys!

We`ll see ;)

My GPB/CHF Short was stopped out, which leads me to the 7^th consecutive loss this week!

Pretty weird hum ;)  But as long as I don`t reach 25 consecutive losses i am still pretty calm.

Such loosing streaks happen once in a while to every trader and what i learned the HARD way is,that losses are just a part of this business.

As long as I apply my money management rules and change my position size along with the change in capital i can trade another day.

Okay now to the new positions.

I Longed GPB/CHF and GPB/JPY and my AUD/JPY position is still open!

Here the charts:

GPB/CHF 1H ->

GPB/JPY 1H ->

AUD/JPY 1H ->