Twas the night before....the day after?

The dollar continues to correct higher today and is rapidly approaching "put up or shut up time." Today's CPI release may tell the tale, as a move below 1.30 will incur substantial amounts of pain. Macro Man will sell EUR 30 million at 1.2970, as there is no point being a hero.

On a lighter note, a poster highlighted a little poem going round this morning from someone who appears to be giving the market all the attention it deserves - i.e. very little. Perhaps you have to trade foreign exchange to truly appreciate it...

Twas the night before Christmas
And all through the land
The euro was bid
By invisible hand

The bids were all layered
A bit lower with care
In hopes that BOK, Russia,
And SAFE would be there

The carry trades nestled
As snug as could be
Why worry with VIX
Single digits, can’t you see?

But then on the desk
There arose such a clatter
I answered the phone
To see what was the matter

When what to my wondering
Eyes should appear
But an FX broker
And two pints of beer

I could tell from the motions
And gestures he made
He didn’t just want to talk
He wanted to trade

More rapid than eagles
His ideas they came
And he whistled, and shouted
And called them by name

“Now Nokky! Now Stocky!
Now sell dollar yen!
The pound’s overvalued
I’ll say it again!

The dollar is toast!
There you go, now I’ve said it!
So buy RKOs
And I’ll get sales credits!”

And then, in a twinkling
The phone rang some more
The broker that called
Was, quite frankly, a bore

As I started to yawn
And was looking around
Down the phone his ideas
They came with a bound

They were rubbish, each one
Because he didn’t know
That the only important thing
These days is the flow

Central banks- where they bidding?
And please- no more games.
Can we quit calling these guys
By ridiculous names?

“Long term real money”
Or “Quadruple A”
We get a new nickname
Just about every day

The broker was plump
And one of those dudes
Who spends most of his nights
Getting stuck into the booze

A wink of his eye
And a twist of his head
When I asked for a price
Soon filled me with dread

And then, sure enough
His offer had shifted
And when I asked why
He said “we just got lifted”

So I thanked him (politely)
And hung up the phone
(But only after I’d had
A sixteen minute moan)

And so, there you go
There’s ’06 in the bag
A year that’s seen
Very few customers brag

Let’s hope that ‘07
Brings a better day
And that all of the central bank
Guys go away

To give us free markets
And more volatility
Is it just a dream?
Or a real possibility?

And so let me wish you
‘Ere I start drinking beer
Happy Holidays, all
And I’ll see you next year

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December 15, 2006 at 4:05 PM ×

Happy Hols to you too, Dear MM

Congrats bro Anonymous you got PERTAMAX...! hehehehe...