₦airaland Forum

honeric01: Meaning? i don't get all these their statement.. what has the statement got to do with the market? i mean the spike here and there.. dang! i didn't really figure it out, ran out of silver, now it has left me behind!

honeric01: I am about to call back all the pairs at least 50 pips downward again.. just watch your chart for the next 2 hours.

I have a -200pips i am nursing with EJ, hedging closed (hit ts), now i have to re-enter the hedge.

honeric01: WHAT THE HELL HAPPENED TO THE MARKET?

naijababe: Everyone who took this trade, please move your sl to 8310, we are just going to ride it to exhaustion now

okemmadu: buy GEJ @ 2011 take profit=2015. sell NE/PA, sell NI/TEL,

frenchman2: sir, what's your username

FXKing2012: YOU ARE PATHETIC!

naijababe: ^ kwarrect

naijababe: [size=16pt]FREEDOM!!!!!!!!!!!!!!!!!![/size]

infofirst: 10pm, my pitch still be bullish, pending buy for eu at 1.2610/05 tp 1.2660/65. TGIF. My Daily pp point is 1.2603 n i will still recalculate by 5am ninja time, am i on track grt ppl?

"Thank you TONJOAN. and am sorry too, Nando"

FXKing2012: My friend dont try to spot my lapses cos u are not qualified to do so. Can a primary six pupil teach a maths professor how to solve maths problem? Stop dreaming bro.

**na God save the promoter because the crowd for lynch am as the fight don finish and he still dey sell ticket for gate**

honeric01: Pending at 1.2530

FXKing2012: So much negative news coming out of Europe yet you wanna buy EU. . .hmmnnn

ms pookie: i hope farouk Lawan's side of the story is TRUE! But, if Otedola's side of the story is true; why does he have to pay bribes when he wasnt involved in d importation of fuel, y wont he just stand his ground?? i believe strongly farouk is smart enough not to involve himself in such.

tonjoan: Totally agree with you. My projection tells me 1.2793 though. The bolded is quite obvious but it tells you what this place is after all, a forum.

aguiyi: i advice you ignore them and their comments.

pipmaster77: 100pips on EU without stress

As European FinMins Discuss Giving Spain €100 Billion, Spain Has Yet To Request A Bailout


The European financial ministers' meeting started at 4:00 pm CET. What are they discussing? According to the WSJ, nothing short of "a commitment to provide as much as €100 billion ($125 billion) in support for Spain's ailing banking sector." At least we now know that that Spanish bank trot so widely avoided by the mainstream media was just a little more kinetically-charged than previously expected, because for Spain to actually demand the money, even if implicitly, it means it has a capital shortfall, which can only arise from an outflow of liquidity, as mere real estate impairments do not have any impact on liquidity. So far so good. There is only one problem: Spain has yet to formally request the money! According to newspaper ABC, "Spain wants to convince European partners that IMF shouldn’t participate in aid for country’s banks because of potential stigma. Aim of talks taking place today is to agree legal framework and conditions for a potential rescue, newspaper says." Potential rescue you see: not an actual one. Just because, as we explained patiently to the 5 year old algos out there, Spain will have none of this "conditionality" that would be imposed on it by Germany, and the IMF, should it actually be formally a bail out target. Which of course would also have the unpleasant side effect of pushing its spreads tighter for a few hours, then blowing them out parabolically once carbon-based investors out there realize what has just happened. As for the ultimate question: just where will €1 of money come from in this broke continent, let alone €100 billion... why, better not to bother with details.

To summarize: Europe is desperate to force Spain to accept a bail out, which the US will pay for.

And so look forward to headlines in 3-4 hours which promise much, but say nothing. Something along the lines of: "European FinMins are committed to providing Spain with financial assistance should it request it."

In other words nothing new.

More from the WSJ:

Spain, which is reeling from a real-estate meltdown, has not requested aid for its financial companies yet, the official said, adding that no disbursements are likely to come before the end of the month, when two independent consulting firms have finished their assessment of the country's banking sector.



However, the euro zone agrees that "quick and radical action" targeted at Spain's banking sector is necessary, the official said.



He said the draft statement mentions €100 billion as the "top figure" of support that Spain could get, but that the exact size, form and time frame of a bailout for the banks wasn't yet decided.



"That figure is mostly for the markets and doesn't mean that the actual disbursements have to be that much," he said.



The draft statement focuses on conditions linked to Spain's banking sector, but also requires Spain to resolve macroeconomic imbalances that the European Union has previously revealed, the official said.

unclenna: still in-charge. No shaking

tonjoan: you'd be amazed to see the long still holds water.eu, gold, crude dax. Howdy?

tonjoan: you'd be amazed to see the long still holds water.eu, gold, crude dax. Howdy?

Spanish treasury minister says it's "technically" impossible to rescue Spain