Tuesday, August 01, 2006

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.

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