Archive for May, 2008
Trade Call for May 30, 2008
TRADE CALL RECAP
For our last live trade call, we were watching the US GDP
report that was released this morning. We were going to trade
if the deviation was 0.4% or higher. The actual number came
out with no deviation, so it did not meet our trigger and we
did not get in a trade on this release.Â
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the Canadian
GDP is released at 8:30 am EDT. The expectation for this
release is 0.0%, and we will be looking for a deviation of at
least 0.2% to trigger a safe trade. (…)
5/29/2008 Bank Flow Update
This week has seen a lot of ranging on many pairs. Now towards the end of the week there seems to be enough movement for me to be able to post some trade levels. (…)
Live Trade Call for May 29, 2008 / Bank Flow Weekly Recap
TRADE CALL RECAP
For our last live trade call, we were watching the UK GDP
report that was released last Friday. We were going to trade
if the deviation was 0.1% or higher. The actual number came
out with no deviation, so it did not meet our trigger and we
did not get in a trade on this release.Â
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the US GDP
report will be released at 8:30 am EDT. Our focus will be on
the GDP Annualized (QoQ) number. The expectation for this
number is 0.9%, and we will be looking for a deviation of at
least 0.4% to trigger a safe trade. (…)
Trade Call for May 23, 2008
CANADIAN RETAIL SALES PROVIDES UP TO 30 PIPS OF PROFIT
This morning we were watching two reports. The first was the
UK Retail Sales report, and we were looking to buy the GBPUSD
if the number came out at least 0.5% better than expected. The
actual number came out with a 0.3% deviation, so it did not
meet our triggers and we did not get in this trade.Â
The next opportunity came when the Canadian Retail Sales report
was released. We were looking to buy the EUR/CAD or USD/CAD if
the number came out at least 0.4% worse than expected. The
actual number came out with a deviation of -0.4, so it met our
safe trigger. We had traders report profits of up to 30 pips
on this trade. (…)
Trade Calls for May 22, 2008
CANADIAN CPI PROVIDES UP TO 30 PIPS FOR TRADERS
For our last live trade call, we were looking at the Canadian
CPI this morning, and we were looking to enter a short on the
EUR/CAD if the deviation met our safe trigger of 0.2%. The
actual number came out with 0.2% deviation, so it met our safe
trigger. (…)
WORKING TOGETHER
WORKING TOGETHER WE ACCOMPLISH MORE
I know some of you may have some questions as to
why/how I am able to get such great rebates and
sign on bonuses for our traders opening trading
accounts. (…)
Trade Call for May 21, 2008 / Bank Flow Weekly Recap
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the Canadian
CPI is released at 7:00 am EDT. There are several components
to this release, and we will be focusing on the CAD CPI
Excluding Core 8 (YoY) figure. The expectation for this report
is 1.3%. We will be looking for a deviation of 0.2% to trigger
a safe trade. A lower than expected number will trigger a buy
on the USD/CAD or EUR/CAD. (…)
5/20/2008 Bank Flow Update
I don’t have any specific new buy or sell levels this week yet. However I wanted to pass along some ranges to watch.
On the AUDUSD I continue to look for sells around the .9600 area. (…)
Weekly outlook for Majors
General Market Comments:
This week we have little in the way of major reports. (…)
Weekly outlook for Commodities
Commodities remain the darling of the investment world. Let me briefly comment on something currently in the media. There is talk that speculators are responsible for the high price of Crude oil and other commodities. The people who make this argument clearly do not understand how markets work. Speculators are not responsible for the high prices, in fact, if anything the opposite is true. If the speculators were bared from these markets, that would mean less open interest and therefore more volatility. I don’t say this because I am one of the speculators, although I am, but as usual the media is doing a disservice to the public by perpetuating this lie. The only thing that would happen if you bared speculators from trading these markets is prices would go higher much faster. The reason oil is so high is due to a long history of energy and currency mismanagement here in the US. Don’t waste time pointing fingers, the solution lies in alternatives not in blame.         Â
Energy:
Crude oil has been able to maintain its high prices. We have seen a sizeable expansion in the overall short position held by small traders which should drive the price even higher. Here again is a good example of how wrong the media has this story. The majority of small speculators are short crude oil meaning they are betting the price will fall not rise. So the argument that speculators are driving up prices is just pain stupid as if that were the case they would be betting against there own trades. We have exited crude and frankly have no interest in trading it at these levels. We do expect a sizable correction sometime soon but trying to short in anticipation of that has been a losing proposition so until we see definitive signs of a pullback we will stay on the sidelines. The potential for this market to continue blowing off to the upside remains high and we would not be surprised to see 130 tested this week. (…)
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