Category Archives for Uncategorized

The Euro Reacts to Data Surprises

Good Morning, Friends. Apparently, unrest in the Middle East and tensions in Eastern Europe aren’t good for either business confidence or production in Western Europe. German June factory orders fell 3.2% from last month; a rise of 0.9% was expected. Italy slipped back into recession as second quarter GDP shrank by 0.2%, and European retail […]

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Updating Some Currency Pairs

Good Morning (EST), Friends; here’s hoping that everyone’s weekend was pleasant, and restorative. Both the European Central Bank and the Bank of England’s Monetary Policy Committee meet on Thursday. The ECB is expected to stand pat, while there’s believed to be some chance that the MPC could move to tighten slightly. That’s on Thursday, though. […]

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A Blip, Or a Change in the Market’s Tone?

Good Morning (EST), Friends. I’m not accustomed to waking up and seeing the E-mini futures down significantly (1952.50 as I type, down 12.50), but movement is always welcome. I haven’t seen a real explanation for the decline; no one should be surprised that Argentina has defaulted, and Charles Plosser of the Philadelphia Fed has been […]

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Time for a Short Covering Rally in EUR/USD?

  Gregory (Scotland Yard detective): “Is there any other point to which you would wish to draw my attention?” Holmes: “To the curious incident of the dog in the night-time.” Gregory: “The dog did nothing in the night-time.” Holmes: “That was the curious incident.” (Sir Arthur Conan Doyle, “Silver Blaze” via Wikipedia.org) Today seemed likely  to […]

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Currency Pairs Are Moving, Ever So Slowly

  Hi, Friends, As those who read the Blog regularly are aware, I’ve been waiting impatiently for EUR/USD to break below 1.35. The loss of an airliner isn’t the catalyst I would have hoped for, but it appears now that there are too many differences among the European Union’s governments to generate much pressure on Russia. That […]

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Why Stops are Crucial, Chapter X

Good Afternoon (EST), Friends. I was having a pleasant enough day trading the E-mini futures when at 11:05 I received an e-mail from a former colleague who now trades Russian bonds. It reported a rumor that a Malaysian airliner had crashed near the Ukrainian-Russian border. The E-minis were already heading south; it took me a […]

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Portugal Sneezes, the Euro (and Equity Futures) Catch Cold

  Good Morning, Friends. Foreign exchange traders react quickly to all new information, and while the resulting sharp, and usually short-lived, moves may not alter the trend, they can create opportunities (and to be fair, hazards). This morning, a weak French industrial production release, which was more a corroboration of a view than “new news” […]

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Breakout on Top of a Breakout for BK (Time to Take Profits?)

Good Morning, Friends. Back on June 18 (“FOMC Day and the Trust Banks”), I mentioned BK as my favorite stock in the custodial bank space. At the time, it was poised to break above its previous trading range, with 35.55 as a trigger. It did break, although given the low volaltility in the market and in […]

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AUD/JPY Reacts to Chinese Data

Good Morning (EST), Friends. Most currency pairs have one or two principal data points that market participants tend to focus on as a convenient way of determining, roughly speaking, “Up or down?” As one of my head traders – and a very good one – always yelled when an economic report flashed across the screen, […]

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FOMC Day and the Trust Banks (With Thoughts on the E-Mini Success Formula)

Good Morning (EST), Friends. If you’re reading this, and you’re thinking about investing in Todd Mitchell’s E-Mini Success Formula Mentoring Program, I have a couple of thoughts to offer. My introduction to Todd was through his initial E-Mini mentoring course, which I took back in 2009. I was a bit skeptical; I had vast experience […]

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