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hi the good thing about forex is that the mkt is bigger than the floor otc
basis the exchnage was massively short swissie we did agood portion of the
stops in usd chf we will trade for a while 1.4800/1.5060
once kosovo is finished we will have abrief euphoric rally in eiro usd to
1.1060 area /usd chf circa 1.4400
and then u buy the usd as europe has zero growth we will have cleared out
the long usd traders
the floor in chf is only king when europe is home and thats if there an
abscence of two way intrest then a fund likes to punt via the exchange
rather than the cash market because than he gets the bigger bang for his
money in way of the push for stops
-----Original Message-----
From: Mervin Yeung <tinyeung@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, May 07, 1999 7:11 PM
Subject: Re: Stops/Michael
>Hi RTs,
>
>I wonder how the locals know where the stops are. e.g. For those who
>are shorting Swiss Franc (June 1999), where are their stops supposed to
>be?
>
>I guess the largest cluster of stops will be at 6771. I may be wrong
>because I never worked on the floor. If any RT has a better idea,
>please let us know.
>
>Thanks in advance!
>
>Mervin
>
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