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The strength of the greenback against other safe havens such as the Japanese Yen and Swiss Franc shows that despite the fiscal troubles in the U.S. and the supercommittee’s inability to reach an agreement on spending cuts, the dollar is still the world’s favorite currency.
http://www.fx360.com/commentary/kathy/6565/eur-decouples-from-stocks-but-not-for-long.aspx
U.S. equities fell sharply today along with many high yielding currencies. Even though the euro ended the day lower against the U.S. dollar, its relatively modest decline has baffled some investors especially considering that much of the market’s concerns still stem out of Europe. More speculation continues to weigh on the markets with the latest being the possibility of Moody’s downgrading France.
http://www.fx360.com/commentary/kathy/6565/eur-decouples-from-stocks-but-not-for-long.aspx
Presented by Gareth Soloway November 21, 2011 02:12PM
The markets are taking a beating today on the back of continued European default worries. In addition, the Super Committee in the United States has failed to agree on any budget cuts. The SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) is trading at $114.62, -3.14 (-2.67%). While Europe continues to crumble, the United States government continues to squabble and be a total embarrassment to its citizens.
As the Thanksgiving holiday looms, the markets look for cheer. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $119.00, -2.99 (-2.45%). Without any sort of major news out of Europe or the United States, it is not likely they will find any reason to bounce. The only chance the markets have of bouncing would come if the SPY hits the $117.25 level. Should that level hit, technical support would be achieved. Other than that, it is unlikely any investors want to step up and buy the markets with so many market holidays. Market holidays make for more risk as traders must hold positions and cannot exit if they choose.
Gareth Soloway
Chief Market Strategist
As the Thanksgiving holiday looms, the markets look for cheer. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $119.00, -2.99 (-2.45%). Without any sort of major news out of Europe or the United States, it is not likely they will find any reason to bounce. The only chance the markets have of bouncing would come if the SPY hits the $117.25 level. Should that level hit, technical support would be achieved. Other than that, it is unlikely any investors want to step up and buy the markets with so many market holidays. Market holidays make for more risk as traders must hold positions and cannot exit if they choose.
Gareth Soloway
Chief Market Strategist
http://ashraflaidi.com/forex-news/
http://www.marketwatch.com/story/spanish-voters-set-to-oust-ruling-party-2011-11-20
The First Hour Is For Day Traders
Active markets are always the best markets for trading. If you have traded the markets for a considerable amount of time, you know that the first hour to ninety minutes is the best part of the trading day. This is a time period when there is typically high volume in the market. The higher activity allows for the key support/resistance levels to be great trading points.
If you have ever looked at an intra-day chart of a stock or index you will notice that the trading volume declines dramatically after the first hour to ninety minutes of the session. The morning period is when day traders must seize the moment as the markets are most active. Once 11:00 am ET rolls around the markets become manipulated by the institutional traders. The institutions aim to stop out the small retail futures traders for a loss. Take a look at the choppy sideways range experienced in the chart below after 11:00 am and you will see as example of this.
This type of game playing goes on everyday in all active stocks and indexes. Sure, once in a while the markets will be active throughout the entire session, however, that is not normally the case. All leading stocks such as Google Inc.(NASDAQ:GOOG), Chesapeake Energy Corp.(NYSE:CHK), and Broadcom Corp.(NYSE:BRCM) become difficult to trade after the morning session. These are just a few of the countless stocks that will trade in an erratic manner after the first ninety minutes of the day. Keeping this in mind, day traders should focus on the morning session. Leave the three hour lunch time game playing to the institutions, enjoy your profits and only trade when the time is right.
Knowing exactly what the institutions do and the games they play will allow you to increase your profitability, and decrease your potential for losing. Join the Pros for free, when the opening bell rings Monday morning have them on your side live in our Intra Day Stock Chat. Learn from the best and become the best. Start your Free Trial now click here.
