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  1. #1
    Administrator Martin Kay's Avatar

    Tip from the Geek - S&P500, FTSE100, USD/JPY. End of the Week Expiry: 11/26-12/3/2012 !!!

    hi guys, new trading tips by the geek, one week expiries! check them out now and don't miss a great opportunity for profits by the end of this week!


    Originally posted by Michael Hodges on binaryoptionsthatsuck.com

    1. The S&P And A Technical Bounce

    S&P 500
    Call/Put = Call
    Entry = below 1410
    Expiration = end of the week
    My Trading Tip
    The S&P 500 looks good to continue its technical bounce, last weeks action brought the index back over the important 1400 level and this weeks opening has so far held. The indexes drop to support just before the holiday was driven by fear, poor revenue and the fiscal cliff. Now, the index is bouncing from that support with fear in decline and the possibilities of being carried higher by holiday shopping on the table.

    Going forward the index faces a lot of resistance and longer term the outlook for growth remains weak. Any bounce we get from here remains suspect until the index makes a new high (above 1465) and economic data supports acceleration in the economy. Momentum on the S&P 500 daily charts suggests that the index will at least retest the 1350 level but I think the index moves higher rather than lower in the short term. Right now I am trading weekly calls on the S&P when I can get them near support. I don’t want to hold them too long because I also see the possibilities for resistance and news to send the markets lower.

    2. Yen, Yen and More Yen……

    USD/JPY
    Call/Put = call
    Entry = below 82.50
    Expiration = end of the week
    My Trading Tip
    The yen is in decline and it will probably stay that way until the BOJ and the incoming political leadership get their wish. Japan has been in the grip of GDP lethargy and inflation for many years and the BOJ has been trying to combat this with fiscal policy. So far they have failed to significantly alter conditions for the island nation. Now, the probably next prime minister of Japan, Shinzo Abe, and his Liberal Democratic Party are calling for “unlimited easing”. The call has reportedly exposed a rift in ideologies among BOJ board members but the schism should not impact Japans efforts to devalue its currency. I am trading call on the JPY/USD, but only weekly at this time. The move have been sharp and the election putting Abe on the seat has not yet happened. Both of these factors leave a sharp pullback or correction on the table.

    3. Greece Weighs On Europe

    FTSE 100
    Call/Put = call
    Entry = below 5800
    Expiration = end of the week
    My Trading Tip
    Greece, once again, is weighing heavily on Greece. The deal supplying them money, anticipated for Monday, had yet to surface at the time of this writing. Any solution, though good for Greece, will be only be a short term salve for the European markets. Not to say that they are in any worse trouble than before, just that Greece is only one small and minor factor in the overall European issue. One thing that a Greece deal will do is remove some of the uncertainty the European markets are facing.


    Once the deal is announced, and surely Greece will get the aid it needs, I am looking for a small relief rally in European stocks. The FTSE is in mid-bounce, similarly to the US markets, and will move up to resistance before any move to the downside that may come. Should other factors turn positive in the European sector the move may continue up but as of yet I am not seeing anything. I am trading calls on the FTSE with one week expirations at this time.


  2. #2
    Senior Member Grae's Avatar
    Nice. I agree with the S&P 500. For the USDJPY, I await a rise from the support 81.94 before moving on the trade. Im also looking at AUDUSD breaking from the 1.046 resistance level upwards. Will it crack through? lets see...

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Grae View Post
    Nice. I agree with the S&P 500. For the USDJPY, I await a rise from the support 81.94 before moving on the trade. Im also looking at AUDUSD breaking from the 1.046 resistance level upwards. Will it crack through? lets see...
    The S&P is looking good so far this week. I like the easy consolidation the markets seem to be in right now. The move above 1400 last week was a surprise to me but adds to my short term bullish outlook. As long as the market stays above 1400 this week I will remain bullish in the short term.

    YOu're support target of 81.94 is in line with my own range expectations for the yen, I would like to buy in below 82.50 but I am not sure the trade will move that low before going higher again.

  4. #4
    Senior Member Grae's Avatar
    USDJPY is a good one to watch.

  5. #5
    Master Member vinayakm's Avatar

    Interesting turn of events so far !!!

    Quote Originally Posted by Martin Kay View Post
    hi guys, new trading tips by the geek, one week expiries! check them out now and don't miss a great opportunity for profits by the end of this week!
    I was happy with a lot of the trading tips, but unfortunately the S&P 500 has declined below 1400 even with all the positive economic data we received this week. The decline of the S&P saw the USD go up slightly and you would think this would justify the binary call on the USD/JPY.

    But low and behold, the USD/JPY actually dipped.

    The FTSE100 went up after a good Q3 report, but this will be short lived. Much of this was attributed to the Olympics being held in Britain in the summer. Nonetheless, Britons will be happy to hear that their country is out of the 9 month recession it was in.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Grae View Post
    Nice. I agree with the S&P 500. For the USDJPY, I await a rise from the support 81.94 before moving on the trade. Im also looking at AUDUSD breaking from the 1.046 resistance level upwards. Will it crack through? lets see...
    Dude! you hit 81.94 on the head, I just saw the trade flash across the screen an hour or so ago...nice job. It's now even lower, I think I misjudged this trade....

  7. #7
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by vinayakm View Post
    I was happy with a lot of the trading tips, but unfortunately the S&P 500 has declined below 1400 even with all the positive economic data we received this week. The decline of the S&P saw the USD go up slightly and you would think this would justify the binary call on the USD/JPY.

    But low and behold, the USD/JPY actually dipped.

    The FTSE100 went up after a good Q3 report, but this will be short lived. Much of this was attributed to the Olympics being held in Britain in the summer. Nonetheless, Britons will be happy to hear that their country is out of the 9 month recession it was in.
    I should have expected that dip in the yen better. The slip in value has been driven by the expectations of "unlimited easing" which will come after the election which is still more than two weeks off.

  8. #8
    Specialist Member RCox's Avatar
    Looking at the USD/JPY, the rally from the low 79s was almost straight up with very little in the way of corrective retracements. Longer term, I am still very bullish on this pair but I have already exited all my positions and will need to see a drop back into the 80.60 area before getting back in. Not sure if there will actually be an opportunity, though.

  9. #9
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    Looking at the USD/JPY, the rally from the low 79s was almost straight up with very little in the way of corrective retracements. Longer term, I am still very bullish on this pair but I have already exited all my positions and will need to see a drop back into the 80.60 area before getting back in. Not sure if there will actually be an opportunity, though.
    I'm not sure you're going to see 80.60 either. Today the trade got a nice pop and took up over my target level of 82.50. The market in this one is pretty crazy right now and I think it may stay that way at least until after the Japanese election. AFter that, if they actually do "unlimited easing" the trade will be back on with legs.

  10. #10
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Grae View Post
    Nice. I agree with the S&P 500. For the USDJPY, I await a rise from the support 81.94 before moving on the trade. Im also looking at AUDUSD breaking from the 1.046 resistance level upwards. Will it crack through? lets see...
    The S&P has been bouncy this week, I though this trade would be a wash for me... it still could be, the markets just opened and there's a long day ahead. Yesterday's dip on Boehner's talk was a little scary, but in the end the two politicians (Reid responded) said the same thing we have already heard, with no change of tone, and things went back to normal. Perhaps we'll hear something else today.... As for GDP, that's a good thing, data keeps rolling in showing stability if not growth and that is what we need.

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