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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard - EUR/CHF, GE Weekly and Monthly Expiry 04-11/03/13 !!!

    Hi guys, Richard's weekly market outlook is here!
    The new week will have a lot of economic data release and central bank meetings, which will determine the prices direction at least on the short term scale. Check Richard’s tips and find what is heading this week!

    Originally posted by R.Cox. Check the full trading briefing!

    Global stock markets traded mostly sideways this week, as some conflicting factors stalled any possibilities for declines or rallies, and kept prices contained in smaller ranges. Early in the week, markets saw volatility pick up as there were misleading polling numbers relative to the election results in Italy, with the investor-friendly candidate first showing a victory but later losing. Longer term, this is a Euro bearish event, as there is a greater chance we will see political obstacles when bailout funding is required and Italy is less than willing to complete required austerity measures.

    Looking ahead, next week is significant in terms of economic releases and central bank meetings, and this will guide prices near term. Employment data will come from Canada and the US on Friday, with Non Farm Payrolls expected to show an increase of 155,000 jobs. This would be roughly in line with what was seen last month. In addition to this, we will have central bank meetings in Australia, Canada and the Eurozone. We will also have GDP figures from Australia and the Eurozone.

    1. The EUR/CHF showed strength last week, even in the face of broad Euro weakness, and this bodes well for the longer prospects for the pair. If the EUR can make any headway against the USD, the EUR/CHF would be a major beneficiary. Look for weekly CALL options in the EUR/CHF at 1.2240.

    2. Monthly stock pick is for CALL options in General Electric (GE) at 23. Recent strength in earnings is being supported by the 3.4% dividend yield and multiple stock upgrades. On the charts, we are seeing prices at key Fib support levels, which should contain prices going forward in March.


  2. #2
    Specialist Member RCox's Avatar
    EUR/CHF dead bottom so far.

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  3. #3
    Specialist Member RCox's Avatar
    Hate to gloat, but we are Bouncing off 23 in GE.


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  4. #4
    Specialist Member marvel's Avatar
    Great pick Richard! I like your trading tips. They are only two but very well selected and it looks you will have a double win this week!

  5. #5
    Specialist Member RCox's Avatar
    EUR/CHF is starting to roll over ahead of 1.2280 resistance. Nothing wrong with closing positions here and re-entering on a re-test of 1.2240 if you have the option of closing positions early.

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  6. #6
    Specialist Member RCox's Avatar
    GE continues to press higher after creating a double bottom at 23. This is a longer term position but this movement is encouraging because it does help validate the 23 level as the main line in the sand.

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  7. #7
    Master Member vinayakm's Avatar
    Quote Originally Posted by RCox View Post
    GE continues to press higher after creating a double bottom at 23. This is a longer term position but this movement is encouraging because it does help validate the 23 level as the main line in the sand.

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    Great call on GE! I always liked the stock and it sure does look good fundamentally and technically speaking.

  8. #8
    Legendry Member Michael Hodges's Avatar
    GE is a good globally exposed stock, it should do well as long as the markets are standing behind the belief that things are going to be better longer term. Today's ADP report certainly suggests that the labor market in the US is picking up .... a good sign for the U.S. and world exporters to the U.S.

  9. #9
    Specialist Member RCox's Avatar
    Quote Originally Posted by RCox View Post
    EUR/CHF is starting to roll over ahead of 1.2280 resistance. Nothing wrong with closing positions here and re-entering on a re-test of 1.2240 if you have the option of closing positions early.

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    Green arrow is where the rec was given. Perfect trade but we are now coming into long term Fib levels.

  10. #10
    Legendry Member Michael Hodges's Avatar
    GE was a good call for the week, hope you got in, it happened quick.

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