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Euro Last Support or Hope :136

EURO -WEEKLY CHART

Last week ,The epicenter of many of  questions seems to be southern Europe, where Greece, Portugal, Spain and to a lesser extent the remainder of the so-called PIIGS (Portugal, Italy, Ireland, Greece and Spain) have flamed investor concerns that burgeoning public debt may significantly weaken investor demand for sovereign debt and exacerbate an already trouble budgetary crisis.

Many investors have taken to selling the euro is as a means by which to reduce exposure to these problem areas and/or speculate on one or more of these crises spiraling out of control.

-Just look at above chart :Weekly chart includes a powerful rally of Year 2009 and more recently and two-stage selloff, starting in the first half of December and picking up steam over the course of the past 3 ½ weeks as traders looked to capitalize on weakness stemming from the problems in Greece, Portugal and Spain.

ALERT25

Just watch 136 level.Three consecutive close below this level+ Weekly close will take to 131.70-130 level.

-If not breaks 136 & trades above 138 level will create buying upto 140-141 level.

-Best Strategy :Sell on Rise.

-Will update more very soon.

Updated at 13:10/8th Feb/Baroda

Psychopaths

Every once in awhile the wrong person ends up working at a Wall Street firm and lives to tell their story upon exiting.

Ben Younger, the auteur behind the 2000 film ‘Boiler Room’ had, in fact, trained at one – the film is more autobiographical than you might have thought. he was an outsider and it didn’t take him long to realize what was going on around him. My own experiences have been chronicled here and in my book – it had taken me too long to realize that I couldn’t be a “good broker” no matter how hard I tried because the entire business model is set up to reward conflicted action and avarice – he with the least scruples and fear of regulators wins.

This weekend we hear from former Lehman Brothers trader Nicholas Chirls. Nichols worked at the epicenter of credit bubble psychosis in the 2007-2008 period and was every bit as out of place as I was, mainly owing to his possession of a soul and priorities other than compensation… (more…)

Artificial Intelligence, Chess, and the Stock Market

In 1997 chess grandmaster Gary Kasparov met the Singularity. And the Singularity won.

In 1985 Kasparov easily beat a chess-playing computer, even though he resorted to a trick to out-Kasparov the machine’s Kasparov program. Eleven years later, though, the chess legend struggled with Deep Blue, a computer with even more powerful processing power. But even Kasparov couldn’t compete with Deep Blue once its development team doubled the processing power a few years later.

Kasparov was beat, but he drew new lessons from the run-in that he details in New York Review of Books. These lessons might help you become a smarter–and less anxious–trader.
According to Kasparov, the exponential gain in technology didn’t ruin the game; it actually had some surprising aftershocks.
 

First, the game became more global. With access to computer programs that could train students available anywhere and everywhere, students far from the chess epicenter of Russia began to crop up.

Kasparov says:

“With the introduction of super-powerful software it became possible for a youngster to have a top- level opponent at home instead of need ing a professional trainer from an early age. Countries with little by way of chess tradition and few available coaches can now produce prodigies.” (more…)