Speaking of the EURUSD, it broke its October low last week. If U.S. stock indexes follow suit, the correction will be at least 5% more.
Too many bears on ET for any significant drop IMHO. Bullish 7 28.00% Flat 3 12.00% Bearish 14 56.00% I prefer to keep my opinion to myself or don't have one 1 4.00% thestreet.com voted Flat: What would best describe your stance heading into the coming week of trading? Bullish 43.83% 270 votes Bearish 44.96% 277 votes Neutral 11.2% 69 votes
What are the reasons they are giving for the green market? As you know, I doubt that their reasons have something to do with the market.
What was your opinion yesterday? I bought EUR/USD at 1.3595. On twitter they are talking bearish talk, so with my models saying buy I am against the crowd.
They explained today rise by better than expected retail sale, and some other BS, but now that the market is red, they are putting some other bull crap. I believe that now is the time I would buy, when it is red and everyone is heading to the exit. How are possible explanations they would give if market rises tomorrow: 1. Replay the retail sales news 2. Quote of some european politicians or decisions about Ireland. 3. AAPL: this is always easy to use. Some news from AAPL (and there is always news from AAPL) such as a new service from AAPL or something about their old gadgets and holidays. 4. Santas buying their costumes early this year. 5. Americans buying more turkeys this year. 6. Add yours below.
Can we conclude by today's market that the U.S. dollar is strong, and QE2 has been discounted? I would not bet on either way. I am neutral at the moment.
I would say the exact opposite: the US dollar would retreat starting probably tomorrow/this evening to take into account QE2 because the market has retreated.
I am still watching, probably it is not safe to bet on either way. I snatched $500/chr on GC this morning. Pressure is mounting to backtrack QE2. I will not trade GC again. Will Try something else ZC