The world sold off its equities on Feb 27th 2007. What about YEN ‘comp remise?'
The world sold off its equities on Tuesday.
What about YEN ‘comp remise?’
What about YEN ‘comp remise?’
Starting from Chinese equities, fears, that authorities would crack down on stock market speculation or authorities clamping down on illegal stock market activity, have contributed to the large sell off. That vague wiring catalyst was denied the same day.
My fundamental view point: it is hard to attribute the sell off to the above elements. But rather, US inflation is up-trending and it is augmenting concerns about growth; Iran Geopolitical risk has attributed well to the sell off, as despite the shake down of stocks, oil strength remains.
My technical view point: equities have been trending non stop for the past 8 months, and then? Wasn’t time for correction? It is so common in the market when a trend is enduring and lasting for months (believers of OB/OS during the whole period), a sudden counter trend is a ‘comp remise.’
Mixing Both View, the long term fundamentals remain very appealing, and technical retracement is providing new attractive entry points.
My fundamental view point: it is hard to attribute the sell off to the above elements. But rather, US inflation is up-trending and it is augmenting concerns about growth; Iran Geopolitical risk has attributed well to the sell off, as despite the shake down of stocks, oil strength remains.
My technical view point: equities have been trending non stop for the past 8 months, and then? Wasn’t time for correction? It is so common in the market when a trend is enduring and lasting for months (believers of OB/OS during the whole period), a sudden counter trend is a ‘comp remise.’
Mixing Both View, the long term fundamentals remain very appealing, and technical retracement is providing new attractive entry points.
Now, the important question remains: would we have the same sell off ‘comp remise’ in USDJPY, EURJPY, and other Yen crosses? Bank of Japan has already announced that it only wishes to raise its interest rate slowly. Consequently, yen will continue its weakness towards 125/127 / even 130, and subsequently BOJ will intervene to support the yen. But When?
The loss in equities this week will need at least 10 days or less to let traders repositioning, and we won’t anticipate substantial dollar downswing but carefully manoeuvring in the near term the dollar is sensitive. Afterwards, when all settle back, dollar will appreciate very fast.
The loss in equities this week will need at least 10 days or less to let traders repositioning, and we won’t anticipate substantial dollar downswing but carefully manoeuvring in the near term the dollar is sensitive. Afterwards, when all settle back, dollar will appreciate very fast.
What happened with my last Free Trades?
ü Tread Carefully: GBPCHF: 24900 should be screened within less than 23 days. That view has not changed but it would be delayed due to the sell off in equities and FTSE, where we should be waiting for Long Term Traders to reposition themselves. Euro has not met yet 13025 which is a good target – shall I blame the sell-off in equities as a delay in meeting 13025/60?
ü GBPUSD Mandatory Trade of 15 pips still valid. Triple the position for the Long Trade, and keep the double on the short side.
Trade Reminder: LONG 19750 OR SHORT 19388è Target 15 Pips Exact (19765 or 19373)
Enjoy Pound trade.
Notification: Although this week is the time to launch a new Mandatory Path Trade of 15 pips, I will delay publishing its signal till we finalize with the above GBPUSD trade. Pound has been traded narrowly for the last 2 weeks, and about time to meet one of either signal.
ü Tread Carefully: GBPCHF: 24900 should be screened within less than 23 days. That view has not changed but it would be delayed due to the sell off in equities and FTSE, where we should be waiting for Long Term Traders to reposition themselves. Euro has not met yet 13025 which is a good target – shall I blame the sell-off in equities as a delay in meeting 13025/60?
ü GBPUSD Mandatory Trade of 15 pips still valid. Triple the position for the Long Trade, and keep the double on the short side.
Trade Reminder: LONG 19750 OR SHORT 19388è Target 15 Pips Exact (19765 or 19373)
Enjoy Pound trade.
Notification: Although this week is the time to launch a new Mandatory Path Trade of 15 pips, I will delay publishing its signal till we finalize with the above GBPUSD trade. Pound has been traded narrowly for the last 2 weeks, and about time to meet one of either signal.
Let me present first an evidence that was wired on NonySqueakNews
ü [22 Feb] Dax, Ftse, & SMI rallies exhausted for now è clarification: equities rallies were prepared for correction.
Thus, as ForexSurvivor Equity positioning trades, we were Equities-Bearish.
Our S&P.I position is almost on the break eve, but we continue having the position ON HOLD. ForexSurvivor S&P target is lower than 2006 low.
ü [22 Feb] Dax, Ftse, & SMI rallies exhausted for now è clarification: equities rallies were prepared for correction.
Thus, as ForexSurvivor Equity positioning trades, we were Equities-Bearish.
Our S&P.I position is almost on the break eve, but we continue having the position ON HOLD. ForexSurvivor S&P target is lower than 2006 low.
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posted by Anthony Samaha @ 11:52 PM
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