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11/2009
25.05.2009
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Sell the US dollar - current story ?
Hi,
trading volume during last week was very light. As such stock market indexes did not move too much from previous weeks levels.
But there were several interesting news last week
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Most discussed issue was probably decision of rating
agency S&P to put Great Britain credit rating on watch for possible
downgrade (from AAA level). Even this happened British currency (GBP)
surged and ignored this negative impulse.
But much more impact to market has ideas , presented by Bill Gross from
PimCo, that also USA credit rating could be downgraded in the future.
It was impulse for sell off of US assets (USD,stocks and bonds).
Quite interesting divergence in investors minds.
One has to understand that situation in USA is not very convincing. Not
only on economic front. But also actions taken by Obama and his team
are worrying.
First - ideas about implementation of welfare system similar to Europe.
Next - rushing of order of law in case of AIG salaries and
employment/management contracts . And also in case of Chrysler and GM
where bond holders were punished by government and are pressed to
decide to accept practically nothing against bonds they own.
It is very worrying because order of law , which is implemented in US
and other developed economies, is maybe last competitive advantage to
Emerging countries.
If investors will lose their confidence in US law , then they start to
sell their US assets. I hope that Obama will soon realize that and will
stop implementing of such "crazy" steps.
Happy trading,
Richard
ETF Trading
ETF Trading strategy
is one of my core trading strategies. I trade ETF short term (days to
weeks) and mid-term (weeks to months). Do you want to see my trading ideas and setups ?
.... top of newsletter
Sector and ETF Watch List
Long
ETF watch list: BDH, SWH, DBA, BZF, UDN , .....
Short
ETF watch list: XBI, RTH, TLT, UUP
US dollar index chart is bearish. I am monitoring development because I
could use this situation for possible trades with ETF symbol UUP or UDN
Stocks Watch List
Long trade/ Buy watch list: CNDS, CTAS, CTSH, GCA, SGP,.......
Short sell trade watch list: AEP, AOC, ARE, IACI, XLNX,.....
Questions ?
I will be pleased to reply to any of your questions. Do you have
something to discuss ? Or would you like to read something in next
issue of newsletter or on my web pages or in my blog ? Let me know .
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