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Here Comes the 2-Month Cycle
Stocks could be in for a fresh 2-month rally, in line with the pattern of the past 12 months.
Anyone who has your book would do themselves right by re-reading pages 157-159. Page 157 states: "... the dollar decline proved limited (in the 01-02 recession) as traders rewarded the currency due to the Federal Reserve's aggressive easing (the completion of which culminated with yesterdays fed move) which was seen as a means for the US economy to lead the world economy (our future from here forward)..."
What is your opinion about this? Do you think this move is sustainable or are you still looking at the next two months (buy in march sell in may theory) as a mini-rally (unless macro reports start to bottom or turn)?
note: (..) areas are my own commentary.
Best Regards,
Nicholas Ellis
ROB, start thinking about that target of 1050 i had in that last HotChart on gold.
f, USDCHF selloff is part of overall USD damage. Consider buying USDCHF and USDCAD at the session lows.
Ashraf
What is you take of the sell-off in USD.CHF... actually back down well below Swiss Bank statement levels. Will the SNB step in once again and tackle the strong CHF?
Thanks
OK, you're tired of the praises by now -
? - Does gold have a new support level now that the Fed intervened so aggressively? Did fundamentals of such magnitude and moves in the price of such magnitude create new technicals? Seems like support at $885-890 is gone for a while, if not forever. Thanks again.
I consider myself lucky that I found this site. I have attended your seminars in Vancouver and used to get your daily commentry (which helped me alot). Then it stoped comming and I left that brocker, because I was there only to get your analysis. I must say that I havn't found any analyst anywhere close to you. Please keep up the good work. Thanks
f, GBPCHFis tricky, because both countries continue to surprise on the downside. Today's UK job numbers were a strong reminder that UK troubles extend into Main Street beyond just banks. I see short term potential going to test 1.59 until the Swiss come back again threatening intervention. If you want a LONG GBP call, then try it against CAD in 4-6 weeks.
Ashraf
I was just wondering what your thought were on GBP.CHF... no one really seems to be taking about this pair but I feel that it could be an interesting medium-term play for LONGS looking for a recovery of the GBP and further actions from the Swiss. Any thoughts would be welcome.
Thank you.