With nearly 60% of Forex Kong traffic / readership coming from outside the U.S, we are a truly international bunch. I take tremendous pride in this, as the broad scope of information shared here from “people in the know” and “on the ground” in their native land’s holds tremendous value. When our man in Australia pounds out some solid numbers on housing, or the current sentiment on China etc – you can generally take this stuff to the bank.
I want to thank each and every one of you (this means you Schmed!) who have taken the time to contribute here – and encourage you to continue doing so. Considering the absolute nonsense being spilled out of the U.S daily – we are truly “an oasis” in a sea of misinformation and deceit. Something we can all be proud of.
On that note, I occasionally tune in to “CNBC” to get a quick read on the current “news stories/headlines” being peddled to the general American populus – and can usually bare it for 10 maybe 15 minutes tops. They actually state that sound investment principles would have you buying stocks on the sole basis that “Bernanke has got your back”.
“Bernanke has got your back”. That’s the investment thesis. That’s the plan. That’s the “right thing to do”. I can honestly say that I have never in my life heard something so absolutely absurd. Brilliant! A single man working for a private bank, systematically destroying a currency is the “hot investment strategy” of the day. I may now be sick.
CNBC viewership has imploded recently to it’s absolute lowest level since 2005, with really no end in sight – so perhaps there is some hope that people are looking for “legit information” elsewhere. We can only hope.
This from our friends at ZeroHedge:
Kong_On_CNBC
Let’s keep things global people – CNBC is dead.
Hope CNBC better gone somewhere in mexico. They must learn there’s better information in there … in Yucatan jungle and its beach. Much moooore better information to mankind inside hidden forest under the sun. There is Gorilla in these jungle with tons of common sense. CNBC …gone
You are fun Tio!
Follow the gorilla! woohoo!
Hi Kong & tio,
Great posts and comments as usual. Friday & Saturday nights when the markets are closed, and before slap & tickle time, are the loneliest nights of the week. Therefore, I’ll take this time to once again demonstrate my keen sense of the obvious.
Reader beware.
>information shared here from “people in the know” and “on the ground” in their native lands holds tremendous value.
Agree. It can be the next best thing to insider trading if used correctly and patiently. The market has discounted it by the time mainstream media outlets have announced it. Maybe I’m fooled by random but it seems lots of pre-news market action has already, and subtly, pointed in the direction of final result. The insiders know and the initial spikes run the stops….
Did I mention I’m myopic?
>I have never in my life heard something so absolutely absurd. Brilliant! A single man working for a private bank, >systematically destroying a currency is the “hot investment strategy” of the day.
LMAO! No, ROFLMAO! Kong, your “boxing is trading” metaphor was apt, but how about “retail traders are fish in the barrel”?
It grieves me that people that want to improve their lives and retirement know no better than to tune in to CNBC and other such outlets on which to base their decisions.
>CNBC viewership has imploded recently to it’s absolute lowest level since 2005, with really no end in sight
> perhaps there is some hope that people are looking for “legit information” elsewhere.
Bob Dylan, in Chronicles Vol. 1 said, “Voice of a generation??!!…My job is to sell records and put asses in the seats!”. Cynical, but true. First come sales and asses, and then come accolades. For media whores, its Nielsen ratings and ad revenue. Their rule number one…Tell ’em what they want to hear. And most retail traders are long.
I hope I’m not too drunk to get it up. It’s the one situation when I insist on being long.
Hi Kong,Well all I can say is fair play to you, you were the only one out of all the blogs and comments I read to tell us the u.s. dollar was going to weaken last week, you said don’t get rid of the shorts and I did take your advice although I must admit I was tempted at times but I stayed with it and although I only made 50 pips If I had kept the trade going btw[short on usd/cad] I could have been 100 -150 pips up but a profit is a profit and I was delighted. you beat all the so called gurus and experts who were telling us go long, go long, so thank you for your free advice and I for one will be watching your future moves if this one is anything to go by, -appreciated brian
Thanks Brian – I appreciate the good word! Now if you cold just go tell 100,000 more people that would be even better…he.he.he
Hey listen – The currency markets show you alot about what’s going on “on Earth” and in turn give you a good idea of “risk” type sentiment. It’s hard for alot of people to look past the news headlines, and to make judgement calls for themselves – in a world so full of convoluted and mixed messages.
I strongly encourage you yourself ” to practice ” and do everything you can to improve your own abilities and confidence in your own decision making, as this is when a trader really starts to see things happen.
I trade in a fairly unique fashion that likely won’t work for everyone. Stay tuned Brian – and feel free to get in here to contribute or ask questions.