What’s Up, What’s Down: Financials and Currencies
Comments for Thursday, October 7, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
FINANCIALS:
Higher for the Eurodollars, notes and bonds. The financials continued their strong uptrends with new CONTRACT HIGHS AND CLOSES for the Eurodollar and notes while the bonds settled close to their highs. The flight to quality continues! BUY SIGNAL FOR THE EURODOLLARS AND NOTES. CALL FOR DETAILS!
CURRENCIES:
Higher for the Euro Fx, Swiss Franc, Japanese Yen, Canadian Dollar, British Pound and Aussie Dollar while lower for the dollar index again. New CONTRACT HIGHS AND CLOSES FOR THE FRANC, YEN AND AUSSIE DOLLAR while the euro had its best high and close since January 28th and the Canadian Dollar since late May. Conversely, the dollar made its worst low and close since January 15th. CONGRATULATIONS FOR ALL OF YOU WHO CALLED IN OR EMAILED ME ABOUT THE YEN OPTION TRADE WHICH DOESN’T COME ALONG VERY OFTEN IN OUR LIFETIME. BUY SIGNALS FOR THE EURO FX, SWISS FRANC, AUSSIE DOLLAR, BRITISH POUND, CANADIAN DOLLAR AND JAPANESE YEN. SELL SIGNAL FOR THE DOLLAR INDEX. CALL FOR DETAILS!
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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.