Last week was again largely positive for the major markets with only the UK’s FTSE losing ground. It marked the final trading session of November. In Europe over the course of the week, the FTSE was down by 0.42%, it closed at 6722.6, but made 2.7% over the course of the month; the Dax ended…
I keep replaying a recent conversation about risk in my head. You know how it is. Someone says something that does not make sense and you ponder why he or she fails to see what is obvious to you (and to many others). Let me explain. The speaker (whom I will call Bill) asserted that concerns on the…
The US dollar is mostly softer as North American participants prepare to return from what for many was a long weekend. The greenback had initially moved higher, hitting JPY119.15 while the euro slipped to $1.2420. The proximate cause was the continued fall in oil prices and news that Moody’s cut Japan’s credit rating to A1 from…
Friday came in with the Panic Cycle on target. The polls in Switzerland were showing little support for the Save Our Gold issue. Nevertheless, as we approach year-end the major trading range will be 1310 to 1042.50. These are the outer end range boundaries and closing between these two numbers will leave gold in a bearish mode…
Senator Charles Schumer, in a recent speech, stated President Obama and Democratic majorities in Congress were elected in 2008 to get the economy working for middle class families. Consequently, assigning extraordinary priority to passing the Affordable Care Act was a mistake. In 2008, most middle class families had private insurance they liked; their incomes had…
Last week saw the global financial system tip from delusion — where it had happily drifted for several years — into chaos. Consider the following more-or-less randomly chosen data points: French unemployment hits record high Italian unemployment hits record high Oil’s price falls by $10.36/bbl, or 13.5%, in a single day, to its lowest price…
“There comes a time in the affairs of man when he must take the bull by the tail and face the situation.” – W. C. Fields Stocks are not hitting new highs. Only a particular index, the S&P 500, has that distinction. When reviewing sentiment surveys this weekend, I am struck by how extreme optimism…
There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year…
EUR/USD Signal Update Last Thursday’s signals expired without being triggered as the price did not reach either 1.2564 or 1.2442 during that day’s London session. Today’s EUR/USD Signals Risk 0.75% Trades may only be taken between 8am and 5pm London time. Short Trade 1 Go short after bearish price action on the H1 time frame immediately…
