Tuesday, August 22, 2006
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Tuesday, August 01, 2006
From FT:
He said that in an efficient market, such seasonal anomalies should tend to be arbitraged away. “Once an anomaly becomes well known, the speculative market begins to pre-empt it,” said Mr Meggyesi.
Last week’s 1.3 per cent rise in yen/dollar may have been the pre-emption, and Tuesday’s fall a dose of profit-taking.
He said that in an efficient market, such seasonal anomalies should tend to be arbitraged away. “Once an anomaly becomes well known, the speculative market begins to pre-empt it,” said Mr Meggyesi.
Last week’s 1.3 per cent rise in yen/dollar may have been the pre-emption, and Tuesday’s fall a dose of profit-taking.
I've updated my charts: click.
Current themes:
Strong recent earnings
Oil has peaked short term
Continued growth in China
Maturing boomers pushing growth in biotech
Weakening US$
I'm short EURUSD at the end of the day only because it's over-bought on both the hourly and daily. That's a day trade. I expect to return to long-term long on EURUSD at the next reversal.
I like USDCAD short but I missed the entry.
Same with EURAUD with a huge channel.
AUDUSD is riding the 13-day ema.
I'm short SPY, OIH and XLE.
GOLD and Copper are building to pennant breakouts. Should be tradable in a week or so.
Current themes:
Strong recent earnings
Oil has peaked short term
Continued growth in China
Maturing boomers pushing growth in biotech
Weakening US$
I'm short EURUSD at the end of the day only because it's over-bought on both the hourly and daily. That's a day trade. I expect to return to long-term long on EURUSD at the next reversal.
I like USDCAD short but I missed the entry.
Same with EURAUD with a huge channel.
AUDUSD is riding the 13-day ema.
I'm short SPY, OIH and XLE.
GOLD and Copper are building to pennant breakouts. Should be tradable in a week or so.
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