Wednesday, February 10, 2010

Stay on Your Toes

That was a bit of a snoozer Wednesday to some extent, and congratulations to those of you who took out a machete and scalped it up and down!  We might as well get used to this, as Humble said, it could be the Year of the Scalp ahead for us. It seems that the tape side-stepped Benny's announcement today very well, and Greece was put on the back burner also until we hear an announcement. (It could come any time though.) All in all, lower volume, another melt-up... nothing to see here. We are picking up a pattern of afternoon selling though for the last week+, but whether or not that holds is anyone's guess. Just stay on your toes and make things like “afternoon selling”  "considerations," but not a solid trading signal. FX traders and other insomniacs, make sure to get some sleep today/tonight to trade more effectively for the next two days. Remember, the market is closed on Monday for President's Day, so keep that in the back of your mind going into Friday's trading.

On the economic calendar tomorrow: Jobless claims at 8:30, followed by the 3 & 6 month bill announcement, and the biggy.. the 30 YR bond announcement at 1:00 PM. Keep in mind the oil and nat gas announcements have been moved to Friday, as well as Retail Sales numbers. Friday should be (ahem) interesting? For a look at earnings for the rest of the week,
please click here. Oil traders: keep in mind we have the midget in Iran and his carrot and stick game tomorrow, and watch the news coming out of Nigeria, as the government there is apparently fragile as well. The hits just keep on comin'! I'm just going share several indicator charts tonight-including the chart on USD. Interestingly enough, Centrifugal did piece on trading the "Black Cross," well.. welcome to opposite world. Good trading to us all tonight and tomorrow. Welcome back Douala, and welcome to you new posters, we're glad to have you with us.

usd_feb_10 BDI_feb_10
NYA200R_feb_10 NYAD_feb_10

Enjoy your wild currency trading tonight, FX traders!  Hopefully, Alpha can sleep this one out and get some rest.  I’ll be spending time with that software that Geithner couldn’t quite figure out… so easy a blonde can do it! 


DDT here – events calendar for today

Market Focus »
Weekly Bill Settlement
52-Week Bill Settlement
Jobless Claims
8:30 AM ET

     3-Month Bill Announcement
11:00 AM ET
6-Month Bill Announcement
11:00 AM ET
30-Yr Bond Auction
1:00 PM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
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