Sunday, August 29, 2010

Cable and Euro Acting as Expected

Gets me nervous when I am in tune with this fractured blimpy market.    Just because I am paranoid, does not mean that HBB is not out to get my money.

Joking aside, the main currencies that I am following, the British Pound, aka Cable, and the Euro are sneaking upward, dragging SPX with them.   In reality they kind of drag each other, sometimes SPX (or /ES futures) leads.    When they diverge greatly, something big is up.

Europe open tonight should be instructive.   In keeping with the market maneuvers since the "Great Recession" started, continue to expect significant moves in the market on the weekends, holidays, or nighttime trading.   Those are the same times the Black Swan will show up.

We all can use a good spotter at times.

Finally, this take on Cable from Carlos, who just started a "sub-blog" for Forex only. Go visit him and tell him steveo sent you.

And get a good laugh out of this...mark to myth, extend and pretend, and predicted fake earnings.....


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Insightful and Useful Comment!