I wait for several trades on the dailys..

Those potential Setups include Gold,F-Dax,GPB/CHF,AUD/CAD,EUR/USD

Here the charts  ->

AUD/CAD -> Potential Short

EUR/USD-> Potential Short

GPB/CHF -> Potential Long

F-Dax ->

Gold-> ( There is an open long position which will be hedged if I short)

Via Los Angeles Times

As thousands of customers waited hours in the heat Monday to withdraw deposits from failed IndyMac Bank, investors dumped the stocks of many mortgage lenders, precipitating the steepest one-day decline in banking shares since 1989.

Southern California fixtures Downey Financial Corp. and FirstFed Financial Corp., specialists in the nontraditional mortgages that fueled the housing boom, were among the hardest hit, with their stock prices down 24% and 19% respectively. Shares of Washington Mutual Inc., the biggest savings and loan, fell nearly 35%.

Via Bloomberg

At an investor presentation in May, Citigroup Inc. Chief Executive Officer Vikram Pandit said shrinking the bank’s $2.2 trillion balance sheet, the biggest in the U.S., was a cornerstone of his turnaround plan.

Nowhere mentioned in the accompanying 66-page handout were the additional $1.1 trillion of assets that New York-based Citigroup keeps off its books: trusts to sell mortgage-backed securities, financing vehicles to issue short-term debt and collateralized debt obligations, or CDOs, to repackage bonds.

Now, as Citigroup prepares to announce second-quarter results July 18, those off-balance-sheet assets, used by U.S. banks to expand lending without tying up capital, are casting a shadow over earnings. Since last September, at least $100 billion of assets have flooded back onto Citigroup’s balance sheet, accompanied by more than $7 billion of losses.

Haha i loved this post by Barry Ritholz..and copied it for you..

Via BigPicture

“DON’T PANIC” - Words inscribed in large, friendly letters on front cover of The Hitchhiker’s Guide to the Galaxy, the ultimate compendium of practical knowledge on practically any conceivable subject, and the most popular book in the known universe. This is partly because it is slightly cheaper than the Encyclopedia Galactica, but is mostly because it has the words Don’t Panic inscribed in large friendly letters on it’s cover.”

Look who is telling us not to panic again: The WSJ Op Ed page!

“So there is no reason for stock market panic, nor for handwringing in the credit markets about an imminent default. Indeed, with the Senate finally — after months of dithering — passing legislation on Friday for a strong new Fannie and Freddie regulator, there is hope that the government will finally be able to rein in the excesses of these enterprises.”
-There Is No Reason to Panic

Of course, the last time this self same page told us not to panic, it was Bear Stearn’s David Malpass exhorting us not to Panic About the Credit Market:“Equity markets have recently lost over $2 trillion in the U.S. and even more globally — many times the likely amount of mortgage and corporate debt losses in the foreseeable future. This is in part a correction from the sharp global equity run-up through mid-July. Current prices still signal growth ahead.”

How’d THAT work out?

How come every time a WSJ editorial tells us not to panic, we learn in subsequent hindsight, that Panicking is pretty much exactly what we should be doing?

By Panic, I mean pulling out all the stops to make sure any virally malignant, planet destroying financial cancer does not metastasize any further, mangling the good and the bad alike (or destroying a planet to make way for an interstellar bypass)? 

Is there any reason to expect this chuckle-headed plea is going to turn out any different than the last chuckle-headed plea did?