Many thanks forf the charts Clay. And ya as far as the so called leaders go you'd think they would get it right sometimes but they never seem to.
It does leave you wondering.
Wilf
To: OpenFX@yahoogroups.com
From: clay@claymarafiote.com
Date: Sun, 29 Aug 2010 14:32:53 +0000
Subject: [OpenFX] COT: 8-27-10
Hi Traders,
A super Sunday to you! I'm sort of kicking myself this morning...why didn't I buy that bag of coffee beans while I was at Whole Foods yesterday? Here's why:
I was distracted by their wine selection. Talk about "priorities"! No matter, I'll survive (just in case you were concerned ;- )
Hey, have you noticed it's summer...and August? Man, you just have to love these markets! My goodness. And, thank goodness I'm not a position trader! Well, September is knocking at the door, so we're ABSOLUTELY going to see the markets start trending again in the next couple of weeks...
Unless, of course, they don't.
On another note, did you see the EU's comments to China and the yuan? It kills me that the US and EU both want a stronger yuan, and here's why it does: 1) It will weaken both currencies, and 2) because so many goods are produced in China, a stronger yuan means prices will go up (I've mentioned this before), which means buyers of these products will get LESS FOR MORE. Now that's sure to stimulate the economy buy increasing consumer confidence. NEWSFLASH: Economies don't grow when consumers don't buy. This isn't exactly rocket science. It's almost as if the "leaders" want to create a depression (but I'm not going there). Things that make you go "Hm."
You'll find this week's COT charts here:
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
GBP is at commercial vs. spec extremes and turning over, along with the yen. That said, the yen hit 15-year highs against the US dollar last week and the BOJ is saying they'll do what it takes to weaken their currency. Um, really? As if THAT strategy really works. Anyway, if the BOJ intervenes, put on your seatbelt; I've been to and through taht amusement park and "it ain't purdy". Bodies were littered everywhere.
The USD Dollar index has the specs moving long again. How far this time? Good question; watch your daily price chart. Most of the other currencies are in a holding type of formation, which I'm attributing to summer and, of course, economic uncertainty. If you're not watching the Dow or S&P, take a look and apply some technical analysis. Then, stop reading the paper and listening to the talking heads. Remember:
CHARTS DON'T LIE.
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
Okay, I really need to go scour the pantry. There as to be a bean or two laying around. I know there's green tea, BUT I DON'T WANT TEA.
Hey, make it a great day, will you! I'm outta here...
Keep living large,
Clay
A super Sunday to you! I'm sort of kicking myself this morning...why didn't I buy that bag of coffee beans while I was at Whole Foods yesterday? Here's why:
I was distracted by their wine selection. Talk about "priorities"! No matter, I'll survive (just in case you were concerned ;- )
Hey, have you noticed it's summer...and August? Man, you just have to love these markets! My goodness. And, thank goodness I'm not a position trader! Well, September is knocking at the door, so we're ABSOLUTELY going to see the markets start trending again in the next couple of weeks...
Unless, of course, they don't.
On another note, did you see the EU's comments to China and the yuan? It kills me that the US and EU both want a stronger yuan, and here's why it does: 1) It will weaken both currencies, and 2) because so many goods are produced in China, a stronger yuan means prices will go up (I've mentioned this before), which means buyers of these products will get LESS FOR MORE. Now that's sure to stimulate the economy buy increasing consumer confidence. NEWSFLASH: Economies don't grow when consumers don't buy. This isn't exactly rocket science. It's almost as if the "leaders" want to create a depression (but I'm not going there). Things that make you go "Hm."
You'll find this week's COT charts here:
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
GBP is at commercial vs. spec extremes and turning over, along with the yen. That said, the yen hit 15-year highs against the US dollar last week and the BOJ is saying they'll do what it takes to weaken their currency. Um, really? As if THAT strategy really works. Anyway, if the BOJ intervenes, put on your seatbelt; I've been to and through taht amusement park and "it ain't purdy". Bodies were littered everywhere.
The USD Dollar index has the specs moving long again. How far this time? Good question; watch your daily price chart. Most of the other currencies are in a holding type of formation, which I'm attributing to summer and, of course, economic uncertainty. If you're not watching the Dow or S&P, take a look and apply some technical analysis. Then, stop reading the paper and listening to the talking heads. Remember:
CHARTS DON'T LIE.
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
Okay, I really need to go scour the pantry. There as to be a bean or two laying around. I know there's green tea, BUT I DON'T WANT TEA.
Hey, make it a great day, will you! I'm outta here...
Keep living large,
Clay
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