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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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 Posted: Thu Mar 19, 2009 7:39 pm Post subject: |
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I'm a little surprised at the lack of activity in the Won. I really expected it to take a hit this morning on profit taking and fear.
I wonder if the negative stock market was offset by knowledge that printing money creates inflation?
Or, did the K-gov pump some money into the economy again? |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Thu Mar 19, 2009 7:46 pm Post subject: |
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| poet13 wrote: |
I'm a little surprised at the lack of activity in the Won. I really expected it to take a hit this morning on profit taking and fear.
I wonder if the negative stock market was offset by knowledge that printing money creates inflation?
Or, did the K-gov pump some money into the economy again? |
it's still trading at complete shit levels - 1400 to 1.
if it were 1300, then I'd be more inclined to listen to your argument.
I'm essentially not paying attention to it until/when it goes stronger than 1300 to 1.
what's amusing is that the plate is now set for the USD to take a major crap vs "real" world currencies.
since the won is closer to being Zimbabwean, it obviously doesn't/won't qualify. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Fri Mar 20, 2009 3:38 pm Post subject: |
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Trading a shit levels is entirely relative. Skimming 97 points (as I did in the space of three weeks) from 1500-1400 is the same profit as skimming the same amount from 1300-1200. When the Won goes back up to that crappy 1500 or 1600, I will be there to buy back in.
Yes, I agree, the dollar could take a beating. |
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nene
Joined: 11 Jun 2005
Location: Samcheok, Gangwon-do
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| Posted: Wed Mar 25, 2009 3:45 pm Post subject: |
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More confirmation that the won loves what Wall St. loves:
XE.com at 8:45am:
1.00 USD = 1,351.30 KRW |
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Pwillig
Joined: 26 Jan 2009
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| Posted: Wed Mar 25, 2009 4:55 pm Post subject: |
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| nene wrote: |
More confirmation that the won loves what Wall St. loves:
XE.com at 8:45am:
1.00 USD = 1,351.30 KRW |
I'm willing to bet $1 = 1.7 euro by the end of this summer. |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Wed Mar 25, 2009 9:42 pm Post subject: |
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| 1336 to the U.S. dollar. Could see it in the 1200's tomorrow. Fingers crossed. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Wed Mar 25, 2009 9:57 pm Post subject: |
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| But WHY is it getting stronger? Confidence in the US economy? Crap! I hope not. I want one more swing with the Won. |
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nene
Joined: 11 Jun 2005
Location: Samcheok, Gangwon-do
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| Posted: Wed Mar 25, 2009 10:08 pm Post subject: |
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| I think so... several indicators suggest the bottom may have been reached a couple months ago and we're on the way out now. Not sure that's true, but I think that's what it's reacting to. That and the toxic asset lending plan. |
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Big Pun Lives
Joined: 12 Oct 2008
Location: Seoul, South Korea
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| Posted: Wed Mar 25, 2009 10:33 pm Post subject: |
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| poet13 wrote: |
| But WHY is it getting stronger? Confidence in the US economy? Crap! I hope not. I want one more swing with the Won. |
The main reason is the Federal Reserve is buying around 1 trillion dollars worth of 30 year treasuries in the hope to drive down long term interest rates. For many fundamental economic reasons that are painfully long to describe, this is a huge deal. Look for the dollar to plummet against major currencies over thenext 6 months, and in medium currencies such as the won - it should strengthen. It would not shock me to see 1000 = 1 USD in about six months from now.
Again, all things being equal - the won should be stabilizing if nothing new happens and the US economy begins to strengthen by the end if this year.
To those who bought won at 1500 or greater, good job! |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Thu Mar 26, 2009 12:15 am Post subject: |
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| Yeah, I bought at + 1500, but I already sold most at 1400. Oh well. I still have another XXmillion won, but it kinda sucks...lol. |
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blaseblasphemener
Joined: 01 Jun 2006
Location: There's a voice, keeps on calling me, down the road, that's where I'll always be
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| Posted: Thu Mar 26, 2009 12:20 am Post subject: |
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| Won is almost at par with the CDN dollar. Sweet! |
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Tobias
Joined: 02 Jun 2008
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| Posted: Thu Mar 26, 2009 12:25 am Post subject: |
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| Big Pun Lives wrote: |
....
To those who bought won at 1500 or greater, good job! |
I'm glad I left a lot of my mulla in Korea. Now I can possibly make back some of the lost dollar value I got smacked with over the last 6 months. |
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br_owen
Joined: 10 Jun 2008
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Tobias
Joined: 02 Jun 2008
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| Posted: Thu Mar 26, 2009 7:30 am Post subject: |
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| For those who are smart enough to figure out what will probably happen in the coming months, have some extra cash to spend, and are willing to gamble a little bit, this is a great opportunity to win. |
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xCustomx
Joined: 06 Jan 2006
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| Posted: Thu Mar 26, 2009 4:53 pm Post subject: |
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| Won is at 1312 right now. The won has had a great run the last 2 weeks, which means it might be a good time to send some cash home. I won't be surprised to see it bounce back up to 1400 in a week or two |
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