Dear Readers, OPENING SALVO on the downside is in place. Now we must follow up and it seems like we have a day, max two, to do it. If we fail with a follow trough, heading higher again. All the rest of my comments are in place. Just reread last main daily posts. I would like to point out the Interest Rates. We are within the zone of them topping. So, watch the shot term technicals to position for one more decline in shot term rates( do not have clear signal yet, though). Good Trading
9 comments:
Hello Boris:
thoughts on AUD 18 yr high vs USD?
probability of successful short here?
CAPUTT like CAD?
thanks
Dear Dxb, My analysis on CAD remains as in previous answer. While there is a possibility of reaching 1.02, it mayby for sometime later in the year. For now I believe the probabilities favor that the 1.0650 level when penetraded again from down to up will complete the top. Also note the formation on the CAD is the same as it was on QQQQ before this seloff. Just reverse the chart upside down.
I would any good short term method to position for shorts with a very strict stop loss.
GOod trading Dear DXB
Sorry Boris, I was referring to AUD. I was wondering if you think AUD will go same way as CAD.
I already know your CAD analysis.
When you have the time you can reply regarding AUD!
boris...crude breaking out of pennant at top of range...look very bullish...thoughts?
tks
curt
Dear DXB, I am very very sorry. Give me few minutes.
Good Trading
Dear Curt I do not see Crude/Energy in a positive light, unless geopolitical events cause disruptions and I do not expect those for now, but I could be wrong. Formation in stocks is bearish to me. But if USO acceedes March High 54.xx then I can see it possible. In a very short term, yes, the formation is bullish. I do notse it continue though.
Good Trading.
Dear DXB my apologies to mistakenly give CAD info. AUD looks and feels exactly like CAD. Same theory about the timing of possible newer highs til March 2008, but for now 8475 top seems to have created a monster formation, which will make me call this Awful aUstralian Dollar. I will, give, you those levels later in a sepcial post though.
Good Trading.
thanks BORIS for ur thoughts.
as a secondary question:
I prefer shorting AUD vs USD, but do you think shorting AUSSIE against YEN is more rewarding in the long run.
CHEERS
Dear Dxb. Long run issues depend on how long the "long is". So, let us see. Till SEP AUD/JPY is better, into Mar 2008 AUD/US will be prefered. Into 2009 AUD/JPY and into 201X AUD/US.
Good Trading.
Post a Comment