To update site, press [shift] F5 on your keyboard.
" You draw nothing out the bank of life except what you
deposit in it" Anonymous
I am so embarressed to say this, but I never sent out the newsletter that I thought I did.
After mentioning the newsletter in the morning analysis, I received a slew of emails, saying you had not received it. I checked the server and there it was, sitting all pretty.
I forgot to hit "send" button.
I will send it out over the weekend instead, as I have already posted the charts here on the site this morning with the comments.
I apologise for that. Oh dear oh dear. Now you know why City let me go. I can't operate a PC. :)))
6th March 2009
~
Trade Sheet
Good morning,
Yesterday we wrote in our newsletter:
" The Euro $ is falling.The stoch has made a double bottom and a rising bottom. We have found this compound divergence to be very reliable on all timeframes and technically the euro should bounce hard. We will give this a 80% chance of happening.
If this is the case we should now be buying now. Clearly this ties up with the stock marker turning dates. My advice would be to buy the first rising bottom on the hourly chart or a pull back to the trend line which i have drawn on the hourly. "
We included the following chart
We are now trading at 1.2684, up 110 points from the charts taken above. And we think there is much more to come. If you are not signed up for the newsletter, please sign up above. If you did not receive it, but you are signed up, please check your spam filter..
I began to argue to dollar weakness and was a day early. The moves overnight have been astounding in the FX market, and I made the mistake of going home flat last night, and I have paid dearly dearly for it. Mark Douglas once said "It is sometimes better to be out, wishing you were in, than being in, wishing you were out". Well, I will add that it is a heart breaking experience to announce on a public free website that you expect the $Chf to fall 400 points, and then publicly take a position, and then get stopped out, and come back in the morning to see a 200 point move overnight. So click on the chart and salute my account which isnt tallying up the move right now :)), and click on the next chart and see the image of where I predict the move. Pay particular close attention to the ARROW pointing down. Oh well, at least I can laugh at it :))))). I hope some of you caught the move.
So aside from my self-pitty, we are watching for non-farm payroll numbers today. I would not like to guess how they are going to influence the market, but I suspect that the trend change we are seeing in the currency market is going to manifest itself in the equity market too. If interest rates are at 1/2% in the UK, where on earth are we going to place our money? This model didnt work in the Japanese markets through the 1990's, but then again I am not concerned with the next 10 years, but with the next month or two.
I will post my currency charts a little later. Right now I am waiting for the DAX to open. I got a long position held overnight, which is seeing my nails half inch shorter than yesterday. I am betting on the European indices finding some upside momentum going into the Non-Farm Payroll numbers...
ANALYSIS
