Please find posts at:
http://www.financebanter.com/category/forex
www.financebanter.com
Tuesday, May 25, 2010
Thursday, May 20, 2010
The Local's Take: Mid-Day Commentary
Hello,
I am now posting at http://www.financebanter.com/category/forex
Thanks,
Brian
I am now posting at http://www.financebanter.com/category/forex
Thanks,
Brian
Wednesday, May 19, 2010
The Local's Take: Morning Commentary
Good Morning,
You can now find my posts at:
FINANCE BANTER - FOREX
To bookmark the link: http://www.financebanter.com/category/forex
You can now find my posts at:
FINANCE BANTER - FOREX
To bookmark the link: http://www.financebanter.com/category/forex
Friday, May 14, 2010
Tuesday, May 11, 2010
The Local's Take: Mid-Day Commentary
Hello,
Park City Trading/Investing Club meets tonight from 6-8 at Keller Williams on 224 and Sun Peak Drive
Click HERE for today's blog at www.financebanter.com
Park City Trading/Investing Club meets tonight from 6-8 at Keller Williams on 224 and Sun Peak Drive
Click HERE for today's blog at www.financebanter.com
Monday, May 10, 2010
The Local's Take: Mid-Day Commentary
New Location for Today's Post
http://www.financebanter.com/article/the_locals_take_mid_day_commentary
http://www.financebanter.com/article/the_locals_take_mid_day_commentary
Friday, May 7, 2010
The Local's Take: Late Day Commentary
New Location for today's post:
http://www.financebanter.com/article/the_locals_take_late_day_commentary
http://www.financebanter.com/article/the_locals_take_late_day_commentary
Thursday, May 6, 2010
The Local's Take: Late Day Commentary
Hellllllllllooooooo!!
Regardless of what just happened today (my wrist, eyes and head HURT!), we have the all (in my estimation) important unemployment report.
I am going out on a limb that with 450k weekly unemployment claims, there is NOOOOO way that we hit the expected mark of 180k that analysts are calling for.
CHARTS:
It isn't worth posting charts as this is a throw away day. Yes, 100 or 200 points or even 300 is expected with the news coverage of "Gyros Gone Wild". Boy would I like to be in Mykanos right now!
The only way you could take advantage of the move was to have protection in place (see a 300% winner in QQQQ today!) or you were bidding down there and no one was as there was no reason for us to be down there.
If we get a REAL sell off due to economic news that makes sense. I would love to buy tomorrow afternoon if we have another 200-400 point sell off that gives certain strong sectors that are now lagging (financials and more importantly commodities) a nice 20% discount from their highs.
Yes, I will sell puts to get into stocks or just collect the premium.
So, come on big miss in the unemployment number tomorrow.
Forex - not even going to talk about it as it was too wild for words. The spreads were 15 pips wide and we had 2 and 3 penny moves. I am looking forward to the BADABING TRADE tomorrow.
I think I am going to finish off the patron and leftover Maxwell's pizza from last night!
Locals Tip: The BEST workout to get you in shape for spring/summer: (aside from backcountry skiing) is the Computrainer classes at Team 19. The Wednesday night "guys night" has been a blast and thanks to our leader, Wendy who had us doing intervals.
Go Pens! and sorry Detroit!
Regardless of what just happened today (my wrist, eyes and head HURT!), we have the all (in my estimation) important unemployment report.
I am going out on a limb that with 450k weekly unemployment claims, there is NOOOOO way that we hit the expected mark of 180k that analysts are calling for.
CHARTS:
It isn't worth posting charts as this is a throw away day. Yes, 100 or 200 points or even 300 is expected with the news coverage of "Gyros Gone Wild". Boy would I like to be in Mykanos right now!
The only way you could take advantage of the move was to have protection in place (see a 300% winner in QQQQ today!) or you were bidding down there and no one was as there was no reason for us to be down there.
If we get a REAL sell off due to economic news that makes sense. I would love to buy tomorrow afternoon if we have another 200-400 point sell off that gives certain strong sectors that are now lagging (financials and more importantly commodities) a nice 20% discount from their highs.
Yes, I will sell puts to get into stocks or just collect the premium.
So, come on big miss in the unemployment number tomorrow.
Forex - not even going to talk about it as it was too wild for words. The spreads were 15 pips wide and we had 2 and 3 penny moves. I am looking forward to the BADABING TRADE tomorrow.
I think I am going to finish off the patron and leftover Maxwell's pizza from last night!
Locals Tip: The BEST workout to get you in shape for spring/summer: (aside from backcountry skiing) is the Computrainer classes at Team 19. The Wednesday night "guys night" has been a blast and thanks to our leader, Wendy who had us doing intervals.
Go Pens! and sorry Detroit!
Wednesday, May 5, 2010
The Local's Take: Real Trade Update
Got them - AUD/USD and EUR/USD
DOUBLE FALL LINE TRADES
Risked 1 to make 1 - high probability trades going with the trend up in the dollar, going against the short term trend down in the dollar
DOUBLE FALL LINE TRADES
Risked 1 to make 1 - high probability trades going with the trend up in the dollar, going against the short term trend down in the dollar
The Local's Take: Cinco De Mayo Update
Most importantly, have a margarita.
Locals tip: baja cantina at the base of Park City Mountain Resort
Locals tip: baja cantina at the base of Park City Mountain Resort
The Local's Take: Trade Update
Missed by a pip in multiple pairs - DOUBLE FALL LINE TRADES everywhere as equities turn positive
The Local's Take: Trade Update
Nothing yet, but the GBP/USD is doing exactly what it did yesterday - taking back almost all of the morning move.
The Local's Take: Mid-Day Commentary
Good Morning,
Don't get your panties in a wad. We are only down 3% off our highs. Yes, certain sectors (commodities) are lagging, but we knew this already from our sector breakdown.
Many commodity stocks showed signs of failure weeks ago and once the top was set, they came off very hard.
Is it time to buy dips? I am not sure. If you have protection on, I don't think so as we still have unemployment coming up in 48 hours. The risk is always to the downside, so I would wait for another leg down before selling puts/buying conservatively.
When I say buying conservatively, I am not looking for new highs. More like a swing trade to profit quickly from an oversold situation.
Obviously the down move in equities and the upmove in the dollar happened, for the most part, overnight. Teargas and rioting in the streets of Greece happened well before we woke up and our stock market/options market opened up.
I don't trade forex overnight as I like to be up during daylight and fortunately, there is enough movement during the US equity session (for about 9 months there wasn't but it looks like it is going to change...keep your fingers crossed that volatility stays at or above our current levels!!)
We did get some DOUBLE FALL LINE TRADES in certain cross pairs, but I wasn't willing to take it as I was waiting for the intraday (cough, cough) rally in equities to stall out a little bit higher then where it did.
Is a long term top in? 50/50 for me. But I will sell rallies at certain levels to protect the positions. It will take another 5-8% down in the sectors that are leading us to the downside to get me excited to buy.
No charts today as we are in the same exact place we closed yesterday (with a hanging tail). I will update them tomorrow as I will have a little more time to be in front of the markets.
I am off to the Utah Genius (yes, I just associated genius with me and this blog) to be presented with an award for top companies in Utah and there trademark work. This means that Locals Have More Fun has protected its various shirt designs and sayings and more importantly, sent lots of money to the government.
If anyone has questions on trademarking, I went to law school (Ray, Quinney, Nebeker) and learned the process well enough to be dangerous whereas Locals now protects its identity via management, not outsourcing.
Doug Fabrizio of NPR fame will be the keynote speaker and our favorite environmentalist, the GUV will be there as well.
Have a great day and remember, everyday is earth day. (Yes, that is me digging rainwater collection systems in the backyard)
Don't get your panties in a wad. We are only down 3% off our highs. Yes, certain sectors (commodities) are lagging, but we knew this already from our sector breakdown.
Many commodity stocks showed signs of failure weeks ago and once the top was set, they came off very hard.
Is it time to buy dips? I am not sure. If you have protection on, I don't think so as we still have unemployment coming up in 48 hours. The risk is always to the downside, so I would wait for another leg down before selling puts/buying conservatively.
When I say buying conservatively, I am not looking for new highs. More like a swing trade to profit quickly from an oversold situation.
Obviously the down move in equities and the upmove in the dollar happened, for the most part, overnight. Teargas and rioting in the streets of Greece happened well before we woke up and our stock market/options market opened up.
I don't trade forex overnight as I like to be up during daylight and fortunately, there is enough movement during the US equity session (for about 9 months there wasn't but it looks like it is going to change...keep your fingers crossed that volatility stays at or above our current levels!!)
We did get some DOUBLE FALL LINE TRADES in certain cross pairs, but I wasn't willing to take it as I was waiting for the intraday (cough, cough) rally in equities to stall out a little bit higher then where it did.
Is a long term top in? 50/50 for me. But I will sell rallies at certain levels to protect the positions. It will take another 5-8% down in the sectors that are leading us to the downside to get me excited to buy.
No charts today as we are in the same exact place we closed yesterday (with a hanging tail). I will update them tomorrow as I will have a little more time to be in front of the markets.
I am off to the Utah Genius (yes, I just associated genius with me and this blog) to be presented with an award for top companies in Utah and there trademark work. This means that Locals Have More Fun has protected its various shirt designs and sayings and more importantly, sent lots of money to the government.
If anyone has questions on trademarking, I went to law school (Ray, Quinney, Nebeker) and learned the process well enough to be dangerous whereas Locals now protects its identity via management, not outsourcing.
Doug Fabrizio of NPR fame will be the keynote speaker and our favorite environmentalist, the GUV will be there as well.
Have a great day and remember, everyday is earth day. (Yes, that is me digging rainwater collection systems in the backyard)
Tuesday, May 4, 2010
The Local's Take: Trade Update
Good Afternoon,
Why did the GBP come off its lows so hard with equities still on their lows?
Regardless, it provided a great DOUBLE FALL LINE TRADE.
That's it for today - have a great one!
Why did the GBP come off its lows so hard with equities still on their lows?
Regardless, it provided a great DOUBLE FALL LINE TRADE.
That's it for today - have a great one!
The Local's Take: Mid-Day Commentary
Good Morning,
Forex Trade Update:
Buffalo Bounce on USD/CHF - stayed strong so noth much out of it. Certain pairs are reacting to this small bounce in the equities, some are staying on lows against the doolar:
EUR and CHF
Forex Trade Update:
Buffalo Bounce on USD/CHF - stayed strong so noth much out of it. Certain pairs are reacting to this small bounce in the equities, some are staying on lows against the doolar:
EUR and CHF
The Local's Take: Trade Update
Good Morning,
One note that I forgot to make - if SPX closes below 1180, we won't see new highs for a while.
One note that I forgot to make - if SPX closes below 1180, we won't see new highs for a while.
The Local's Take: Morning Commentary
Good Morning,
Yesterday, I said we wouldn't finish on our highs and that today would be a red day. We finished 20 points off our intraday high yesterday and so far, today looks like we have a pretty good chance of finishing red.
We seem to be rangebound, with buyers coming in strong at certain levels and sellers are now equally strong at certain levels.
No trade updates to speak of yet as the big moves happened before the markets opened.
There was a BUFFALO BOUNCE in the GBP/USD, but I decided not to take it as it seemed a little early with the huge move in equities. It worked, but not going to worry about it as I have a feeling we may see some more before the next few hours are up.
I will update them as they happen.
Have a grey, cloudy, mud season day. Good to see all of this moisture.
Locals Tip: Your an idiot if you have your sprinklers on.
Yesterday, I said we wouldn't finish on our highs and that today would be a red day. We finished 20 points off our intraday high yesterday and so far, today looks like we have a pretty good chance of finishing red.
We seem to be rangebound, with buyers coming in strong at certain levels and sellers are now equally strong at certain levels.
No trade updates to speak of yet as the big moves happened before the markets opened.
There was a BUFFALO BOUNCE in the GBP/USD, but I decided not to take it as it seemed a little early with the huge move in equities. It worked, but not going to worry about it as I have a feeling we may see some more before the next few hours are up.
I will update them as they happen.
Have a grey, cloudy, mud season day. Good to see all of this moisture.
Locals Tip: Your an idiot if you have your sprinklers on.
Monday, May 3, 2010
The Local's Take: Mid-Day Commentary
Good Morning,
OK - I am going to call the close: we will NOT finish on our highs. BUT, I am leaving myself an out. If we do, we will NOT finish green tomorrow (2 days in a row). I believe there are enough sellers to drive us sideways for a little in this current range in the SPX
Regarding the forex markets, I am confused: the markets are up, oil is flat to up, yet the dollar is strong against the CAD. I wasn't confused enough to not take advantage of a DOUBLE FALL LINE TRADE:
Let me explain a little more of the confusion. Again, equities up, GBP absolutely sideways to down, the EUR is getting "crushoolad" and the AUD and NZD are sideways.
Hence, another day with volatility down and tight trading ranges and "separation" in "OLD FAITHFUL" - equities up, dollar down.
I am sorry I didn't take pictures, but it was an "epic" (not really - I personally think the word is overused, so I throw it in sarcastically) day of touring Deer Valley and Park City. Parking at Empire Canyon lodge and skinning up Supreme. Then crossing over to McConkey's and down to Comstock. A few runs on the south facing aspect before heading back in the DMZ and into Lady Morgan.
3.5 hours of heart pounding work to ski 5 runs. Not bad. I think I ate 5 pounds of pasta to prepare and to refuel afterwards.
Off to get some vaccinations for the little one. Good to start the month off green.
Locals tip: will review Park City Follies tomorrow.
OK - I am going to call the close: we will NOT finish on our highs. BUT, I am leaving myself an out. If we do, we will NOT finish green tomorrow (2 days in a row). I believe there are enough sellers to drive us sideways for a little in this current range in the SPX
Regarding the forex markets, I am confused: the markets are up, oil is flat to up, yet the dollar is strong against the CAD. I wasn't confused enough to not take advantage of a DOUBLE FALL LINE TRADE:
Let me explain a little more of the confusion. Again, equities up, GBP absolutely sideways to down, the EUR is getting "crushoolad" and the AUD and NZD are sideways.Hence, another day with volatility down and tight trading ranges and "separation" in "OLD FAITHFUL" - equities up, dollar down.
I am sorry I didn't take pictures, but it was an "epic" (not really - I personally think the word is overused, so I throw it in sarcastically) day of touring Deer Valley and Park City. Parking at Empire Canyon lodge and skinning up Supreme. Then crossing over to McConkey's and down to Comstock. A few runs on the south facing aspect before heading back in the DMZ and into Lady Morgan.
3.5 hours of heart pounding work to ski 5 runs. Not bad. I think I ate 5 pounds of pasta to prepare and to refuel afterwards.
Off to get some vaccinations for the little one. Good to start the month off green.
Locals tip: will review Park City Follies tomorrow.