FXE, the Euro based ETF is approaching trend support lines.....if broken, we will be a seller. The Buy momentum has been eroding and is currently "sideways". We will be watching the 130.50 to 130.50 level carefully.
Best to your trading!
Bill
Wednesday, January 5, 2011
Tuesday, January 4, 2011
Tuesday 1/4/2010
I am writing this about 3:15pm, after falling asleep this morning due to boredom!.
The Dow is up 9 points, but all the rest of the indexes, including the Transports and the SPX are off . All the action today is in the PM's and Oil. Crude is trading 89.23, down 2.32, Gold trading at 1,380.9, donw a big $42, and Silver at 29.78, down 1.35. Either the top is in place, or we will soon be looking at another buying opportunity.
The Euro is off a little at 1.33 and the Dollar is up, trading currently at 79.19. The surprise here is the weakness in the debt markets, with the long bond down, at 4.43% and the 10 year at 3.35%. I am going to have to go back to correlation school, and I don't understand what I am seeing.
The minutes of the FOMC have been released......and they continue to offer their observation regarding the markets. " members agreed that only small changes were necessary to reflect the modest improvement in the near-term economic outlook". After 2 years of 0% interest rates, 2+ Trillion in Federal Stimulus spending, and 1.5 Trillion in Fed QE, the economy is still not recovered sufficiently to operate with out government intervention. I am glad I don't have to wander about, looking for that "recovery" that is propelling the equity markets.....the Fed is telling us that it is not there!
We have earlier issued a Trading Alert to SELL the long position in USO as the market . Momentum has flipped and we are out at 38.06, taking a $2.81 profit.
The rest of our positions are still active.
Best to your trading.
Bill
The Dow is up 9 points, but all the rest of the indexes, including the Transports and the SPX are off . All the action today is in the PM's and Oil. Crude is trading 89.23, down 2.32, Gold trading at 1,380.9, donw a big $42, and Silver at 29.78, down 1.35. Either the top is in place, or we will soon be looking at another buying opportunity.
The Euro is off a little at 1.33 and the Dollar is up, trading currently at 79.19. The surprise here is the weakness in the debt markets, with the long bond down, at 4.43% and the 10 year at 3.35%. I am going to have to go back to correlation school, and I don't understand what I am seeing.
The minutes of the FOMC have been released......and they continue to offer their observation regarding the markets. " members agreed that only small changes were necessary to reflect the modest improvement in the near-term economic outlook". After 2 years of 0% interest rates, 2+ Trillion in Federal Stimulus spending, and 1.5 Trillion in Fed QE, the economy is still not recovered sufficiently to operate with out government intervention. I am glad I don't have to wander about, looking for that "recovery" that is propelling the equity markets.....the Fed is telling us that it is not there!
We have earlier issued a Trading Alert to SELL the long position in USO as the market . Momentum has flipped and we are out at 38.06, taking a $2.81 profit.
The rest of our positions are still active.
Best to your trading.
Bill
1/4/2010 Trading Alert
USO is down hard this afternoon, tracking the WTIC down 2 and a half points. Our Proprietary Momentum Change Indicators have flashed a SELL signal, at 38.10.
We are selling at 38.06
Bill
We are selling at 38.06
Bill
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