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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard - USD/JPY, 3M Weekly and Monthly Expiry 29/04-03/05/13 !!!

    The new Richard's Weekly Binary Options Trading Briefing is here!
    In the week ahead, markets will start to turn the focus from earnings and take another look at central bank policy, with key meetings scheduled for both the US Federal Reserve (Wednesday), the European Central Bank (Thursday) and Non Farm Payrolls on Friday. Check Richard’s tips and find which are the best opportunities to trade!

    Originaly presented by Richard Cox.

    The S&P closed higher for the week (even with the declines seen Friday), and is now within striking distance of the all-time highs at 1592. Most of the positive investor sentiment has come from stronger-than-expected corporate earnings and consistent pledges from central banks around the world to implement stimulus measures to support the global recovery. So far this earnings season, 270 companies have reported quarterly results and roughly 75% of those companies improved on analyst estimates. The true strength of these results remains questionable, however, as a significant portion of this performance has come from cost-cutting strategies rather than true profit growth.

    1. The USD/JPY is showing some signs of failure ahead of the psychological 100 level, with a double top now showing just 10 ticks below. This weakness sent prices through support at 98.40. The next level of support is now seen at the 95.80 spike lows, so there should be an opportunity to get back in in the low 96s before we see another bounce. This week, I will look to enter into weekly CALL options in the USD/JPY at 96.20. This number might be revised, however, as potential volatility in the pair is high.

    2. For stock trades, I will look to play off of the earnings miss in 3M (MMM). The stock is trading just under 16 times earnings and just below its 52-week high at 110. First quarter earnings came in at $1.59 per share (consensus estimates were higher at $1.65), with sales revenues of $7.63 billion (estimates were calling for $7.81 billion). The company also lowered its outlook for 2013 as a stronger Dollar eats into export markets. From a chart perspective, triple bottom support at 104.60 has been removed, breaking a range that has been clearly defined since the middle of March. Look for a slight upward move back into 105 as an area to enter into monthly PUT options in 3M.

  2. #2
    Specialist Member runneroption's Avatar
    We have 97.00 for the USD/JPY this evening. Do you think this could be a short term support level? I think we have more downside potential for the moment and also a lot of uncertainty with the ECB and FED meetings tomorrow and Thursday and finally NFP on Friday. I don’t want to trade for the moment calls on the Yen as there are many factors which could turn the wining trade into a loser.

  3. #3
    Veteran Member Dan21's Avatar
    3M is trading higher on the yesterday session and closed at 104.71. Today we could see the 105 level, which will be the entry point for the monthly Put on that stock. I agree with your view that this stock is good sell oportunity now.

  4. #4
    Specialist Member RCox's Avatar
    QUOTE=runneroption;5731]We have 97.00 for the USD/JPY this evening. Do you think this could be a short term support level? I think we have more downside potential for the moment and also a lot of uncertainty with the ECB and FED meetings tomorrow and Thursday and finally NFP on Friday. I don’t want to trade for the moment calls on the Yen as there are many factors which could turn the wining trade into a loser.[/QUOTE]

    That was exactly what I was thinking, better to wait for a better entry with all of the coming event risks. If rallies are seen from here without an entry, at least there was no "chasing the market.

  5. #5
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    That was exactly what I was thinking, better to wait for a better entry with all of the coming event risks. If rallies are seen from here without an entry, at least there was no "chasing the market."
    I think the yen may be in a down trend or at least a sideways trend until the next BOJ meeting. I think the market wants to see something else from them in the way of easing. If the market keeps the value of the yen up it could force the BOJ's hand into such an action.

  6. #6
    Specialist Member RCox's Avatar
    Quote Originally Posted by Dan21 View Post
    3M is trading higher on the yesterday session and closed at 104.71. Today we could see the 105 level, which will be the entry point for the monthly Put on that stock. I agree with your view that this stock is good sell oportunity now.
    Its not always possible to get an exact entry, especially when you are dealing with psychological numbers. If you don't already have too many positions open there is nothing wrong with getting in at the 104.90 area.

  7. #7
    Junior Member howard1's Avatar
    We have some kind of support level at 97 and I think it is good possibility to trade from that level daily calls and not to wait till 96.20, because the price action now is very clear and we could see fast move immediately after the ECB release.

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