As mentioned last week, this S&P500 aka /ES futures is (was) a very steep downchannel, went long Thursday, went longer Friday.
See my "Reluctant Long" post here
http://oahutrading.blogspot.com/2011/07/reluctant-long-keep-it-simple-at-200dma.html
Nice start anyway. Euro is not following up yet.
US Debt "straw man" solution only confirms more printing to come. That means fundamentally, USD down, Euro up. However, the winds can quickly blow against the Euro, based on the fact they are living on a series of fault lines and holding hands.
John writes some really good stuff on -- on Daneric Site
john- 2 hours ago
--Article titles - truth or misdirection.
Notice on my article comments I try to use accurate titles that reflect the feeling of the article. As many have read my style, most are comfortable that I do not try to mislead in the title but try to entice you to read the article. That is what titles used to be.
However in the political and financial news articles, titles are often used as a misdirection and may not represent the real feelings of the article or may be an outright lie misdirection. Many people and algos only read the titles. Care must be taken, especially now.
Also remember that often "What is NOT said is more important that what is said" look for what is missing that should have been included.
Good luck.
PORK Bellies -- so funny. Since 1983 we all heard about Pork Bellies from the movie Trading Places. But little did we know, what the heck is actually a pork belly? Well I had last night for the first time, pork belly in a slow cook with a bunch of veggies, and it was awesome.
Then today, I find that the futures market for Pork Bellies out of Chicago is now "gone away". What timing. Gives me some belief that I can be a contrarian. What a coincidence!
http://www.nytimes.com/2011/07/31/us/31porkbelly.html?ref=business
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Insightful and Useful Comment!