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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard - EUR/USD, SBUX Weekly and Monthly Expiry 18-25/02/13 !!!

    Hi guys, Richard's new weekly market outlook is here!
    This week will be full of EU data and elections in Italy ahead. All these factors could lead to substantial volatility in the markets. Check Richard’s tips and find what is heading for the new week!

    Originally posted by R.Cox. For the full trading briefing click here.

    Stocks traded sideways for the most part this week, with the S&P 500 showing signs of stalling after a 6-week rally, and the Euro Stoxx 600 closing unchanged after two weeks of losses. In Europe, positive earnings from PSA Peugeot Citroen, Barclays, Heineken and ABB Limited were offset by weaker economic data, and the Euro Stoxx 600 managed to stabilize after falling nearly 1% in the previous two weeks. Most of the previously negative movements were triggered by political uncertainties in Spain and Italy and this was bringing volatility to bond yields in both of those countries. Nonetheless, the longer term trend has been bullish, with the Stoxx 600 still showing gains of 2.7% year-to-date.

    1. With the German releases next week, we should see some volatility in the Euro and anything above 1.3420 is a weekly sell. If we see the EUR/USD reach 1.3420 I will enter into weekly PUT options as the near term picture looks weak on both a technical and fundamental basis, and a test of the 61.8% Fib looks imminent.

    2. For stocks, I will be looking for a one month CALL option Starbucks (SBUX) at 56. The company’s recent sales and earnings per share releases were strong and the consumer discretionary stocks could outperform other sectors if we start to see some continued stalling in the S&P as a whole.

  2. #2
    Active Member pipshunter's Avatar
    Good points, Richard! I think EUR will reach 1.34 level for sure, but than the price action could be complex and the weekly puts may be problematic, but overall I agree that the shorts will be in play in the next few weeks. I was thinking more about a correction in SP500, but it is still difficult to predict such think as there are no visible signs.

  3. #3
    Senior Member Grae's Avatar
    That is a good view on the EURUSD which is on soft ground.

  4. #4
    Legendry Member Michael Hodges's Avatar
    consumer discretionary does look good for the near term. too bad the XLY and the XRT are not available assets yet for binary traders, these two could both break out to new highs soon.

  5. #5
    Specialist Member RCox's Avatar
    Quote Originally Posted by Michael Hodges View Post
    consumer discretionary does look good for the near term. too bad the XLY and the XRT are not available assets yet for binary traders, these two could both break out to new highs soon.
    I think it's a good idea for traders to take a look at some of the brokers that are not solely focused on binaries (places like OptionsXpress or TradingBlock) because some of these places have different lists of tradable assets. Many of the binaries brokers are much smaller (and newer) players in these markets and many of them have limited choices available. This can help when looking to capitalize on different opportunities in different markets.

  6. #6
    Specialist Member RCox's Avatar
    Markets hit the 1.3420 level, which is roughly where the 100 period EMA comes in on the 4H charts. Volatility was slow going early in the week (hangover effect from the US holiday) but now we are starting to see prices move and there is some additional scope for downside if we can see a clear break below 1.3380 in the EUR/USD.

  7. #7
    Specialist Member RCox's Avatar
    Chart graphic from the weekly report:

    Click image for larger version. 

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  8. #8
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    I think it's a good idea for traders to take a look at some of the brokers that are not solely focused on binaries (places like OptionsXpress or TradingBlock) because some of these places have different lists of tradable assets. Many of the binaries brokers are much smaller (and newer) players in these markets and many of them have limited choices available. This can help when looking to capitalize on different opportunities in different markets.
    I like OptionsXpress,been with them for years. You can trade CBOE and AMEX binaries there but I don't like the way they are set up.

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