Tag Archive for 'euro'

Getting Greece’y Around Here

Published on May 15, 2012, 9:30 pm in Trading. 0 Comments Tags: , , .

About a half hour before the cash open today, ES futures were ready to gap up about 8 points. By the close we were down 6 points. The good news? We closed up 3 points off the lows! So much for Turnaround Tuesday.

The morning and early afternoon showed some promise after a decent Retail Sales and CPI numbers…and a blowout Empire State Manufacturing Index and Homebuilder Sentiment. But worries about the Euro and Greece kept the markets subdued and dropping in the laye session. Oh well, Greece is the word!

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Just Take Care Of Us

Published on May 7, 2012, 8:03 pm in Opinions and Trading. Closed Tags: , , , , .

Europeans, specifically France and Greece, have spoken and have said: “I don’t want to work, just take care of us!” Ironically, they have all found jobs with the Obama campaign! :lol:

Markets really didn’t like that news overnight as they felt around for a new low. Traders though decided not to go with popular opinion and started an up move from the US market open. After a gap down open, markets pushed upward in a sloppy kind of way, on low volume and no news. Actually the entire week looks to be light on news.

And other interesting stuff…

Difficult trading ahead

Published on April 5, 2012, 2:10 pm in Trading. Closed Tags: , , .

On Friday we have the BIG monthly employment numbers coming out, but the U.S. markets will be closed, so no trader reactions will be seen. And then on Monday, most European markets will be closed, so nothing going on there.

It won’t be until Tuesday that we will see full world trader reaction to those numbers. By then of course, something else will come up for us to mumble about.

Topped and Tapped Out?

Published on February 29, 2012, 8:20 pm in Trading. Closed Tags: , , .

Looking like the trek to the top has been accomplished and now we’re on our way down off the mountain. It’s been a month-long topping process, but the bulls can’t hold it any longer…I think.

Also looks like the Nasdaq led the way down…at least today. And even after some good news in Europe, then good GDP report and a better than expected Chicago PMI. If the bulls can’t do some good with that, well, they’ve got to be tired. Let’s see if the bears take the opportunity!

Now that’s follow-thru

Published on November 30, 2011, 8:05 pm in Trading. Closed Tags: , .

Yesterday may have been questionable. but that is a real statement today by the indexes!! Dow over 12K and many indexes up over 10% in just 3 days!! Good job bulls!

Although Europe is a mess, China is being proactive reducing rates and the economic news in the US is great…and there is a lot more news to come over the next 2 days. Here Comes Santa Claus!

MF’ers

Published on November 16, 2011, 6:51 pm in Trading. Closed Tags: , , .

Yes, I mean those ‘motherly’ cuss words…but I’m actually talking about Moodys and Fitch, get it? Heehee!

Moody’s downgraded some German banks, so Fitch downgrades US banks with dealings in Europe. Is this really news? Didn’t everybody already know that? And why announce that in the middle of an options expiration week? WTF? News, made up or real, always trumps charts and indicators.

The Stock Trader’s Almanac says, “Week before Thanksgiving, Dow up 15 of last 18.” Let’s see what Thursday and Friday bring us.

I was trading ES today. It just doesn’t feel good when a retracement doesn’t come back to your buy point…missing by one tick and then takes off without you…mope, mope, mope. On the other hand it doesn’t feel as bad as when you chase it up and it goes against you. Patience is a virtue! Trade your plan and stick to it!

The PIIGS are snorting…still

Published on November 8, 2011, 7:45 am in Trading. Closed Tags: , , .

As they come around the bend, Greece is fading as Italy takes the lead. Another rocky start to another euro-week of trading as Italy’s woes take center stage. This, of course, is bigger because Italy’s marketplace is much bigger than Greece’s…. The Euro-confederation does not have that much money.

It does make it hard to trade with such a news-driven market. In a split second, a news, or rumor release can send your trade in the opposite direction of what your trading signals indicated. On the other hand, there is a ;arge opportunity to make some money….in quick scalps for me.

But then, on Monday, after all the hub bub in Europe, traders shook it off and closed near the highs. Oh well, trade safe!

Words

Published on October 18, 2011, 8:48 am in Trading. Closed Tags: , , , .

There is going to be a lot of words thrown about this week. Besides the eco reports, PPI, CPI, Housing Starts and Philly Fed Survey, there’s a Fed governor speaking every day…sometimes twice a day. The markets will be listening with one ear towards the FOMC gobbledygook and the other ear aimed at Europe. And the markets will get squeezed in the middle!

Don’t forget, it’s OpEx week as well. What a recipe for volatility! 8)

Again…

Published on September 19, 2011, 11:06 pm in Trading. Closed Tags: , .

Yes again, the european news mill whips around the US stock market on rumors and leaks. Boy is this tiring! The President couldn’t move it, nor could housing news. Nope. Just that european BS.

For a while the markets recovered…looked a lot like a key reversal. But futures are back to their lows this evening. Let’s see what kind of news crap the eurozone comes up with on Tuesday.

Double bottom?

Published on August 23, 2011, 11:40 pm in Trading. Closed Tags: , , , .

Looking like the market has created a ‘W’…but we need follow through and then breakthru that 1200 region in the S&P.

Although housing data wasn’t that good today, China’s PMI was good. Asian markets and the Eurozone lead us into a a very up day. Neither hurricanes, earthquakes nor Greenspan could stop the bulls. Volume was decent for a late summer rally.

Fat Bottomed Stocks make the world go round!