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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard –USD/JPY, CELG Weekly and Monthly Expiry 7/15-22/2013 !!!

    Hi guys,

    The new Richard's Weekly Binary Options Trading Tips are here!
    Check them out and spot the best trading opportunities presented by Richard!

    Originaly presented by Richard Cox.

    In the week ahead, the macro data docket is very light, but we will see additional meeting minutes from a few central banks and congressional testimony from Ben Bernanke. But the real story is going to center on earnings seasons, which starts to pick up this week and is heavily centered on the financial sector. For the most part, earnings expectations are weak, so it will not take much for companies to better the headline projections. Citigroup leads the way on Monday, and the results could be important in how they set the tone for the week.

    1. The Japanese Yen rallied last week, which is comething of a surprise given the Fed’s general commitment to maintain its monetary stimulus injections. By year end, I am looking for the USD/JPY to rally to at least 105, so I am going to buy into this latest dip in the USD/JPY. This week, look to buy weekly CALL options in USD/JPY at the week’s open on Monday, which should come in near the 99.20 area.

    2. For stock trades, I will be looking to trade the upside momentum in stock indices as a whole, and look to biotech favorite Celgene (CELG), which has one of the most impressive drug pipelines in the industry and is looking strong on a technical basis ahead of its earnings release. Given its stable record of beating market estimates, I will be buying on a breakout basis (helped by surges in volume). We sill have some larger stock volatility this week, so I will be looking to enter into the position on any sign of weakness. Buy one month CALL options in Celgene as prices test resistance turned support at 131.50.


  2. #2
    Senior Member LeeChang's Avatar
    The Japanese Yen was a good call entry on Monday morning. It started to climb higher from a very tight range around 99.20 and is still above the support at that area. Pretty high probability to be a winner this weekly call.

  3. #3
    Legendry Member Michael Hodges's Avatar
    I definately agree with the longer term analysis. I think the prospect of tapering commencing soon and no evidence of an end to BOJ stimulus is driving this in the shorter term. A retest of the previous peak around 104 is highly likely but a break above that level may not come until an actual change in the fundamentals.

  4. #4
    Specialist Member RCox's Avatar
    The USD/JPY has traded in the money for most of the week so far, after brief forays into the low 99s. From a chart perspective, the trade should be fine as long as there are not breaches below the 99 level. The real test however, will be the aftermath of the Bernanke testimony, which is going to cause a lot of market volatility and shake out positions in a good section of the market. Broadly speaking, any dovish stance where further accommodation is viewed as a possibility should be supportive for stock markets and the USD/JPY, even with the downside pressure a dovish stance would have on the USD. Most of the USD selling would occur in other pairs if this is the case (particularly in the EUR and GBP). Bernanke is the wild card, however, because markets will be in flux into the late sessions this week, and this adds a major level of unpredictability where general rules for trading could be overtaken by short-term order flows that disproportionately affect some assets more than others. For this reason, it will be important to watch the charts into the late-week sessions. USD/JPY needs to maintain 99 in order for the trade to close positive.

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  5. #5
    Specialist Member RCox's Avatar
    Celgene has seen very strong bull moves this week, with prices now trading well above the strike price and very little seen in the way of corrective retracements from the new highs above 136. Stocks as a whole will still see some volatility after Bernanke is finished giving his testimony and accompanying press conferences, and given the latest strength of the upside move, it would not be out of the realm of possibility to see the stock give back some of these gains (on profit-taking at the very least). It will be important to watch what not only Bernanke says after the Congressional hearings but other voting members as well, because there are clearly diverging opinions within the Fed that suggest alternative viewpoints and favor different strategies. For Celgene, the impulse moves here are clear, and the trajectory should be higher in the stock at least into the later parts of the month.

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  6. #6
    Specialist Member LesterK's Avatar
    Celgene Corporation plunged this morning to 130.8 but than very fast retraced back to 133.3. It is really very bullish price action for now, but looks that it is still vulnerable to downside moves.

  7. #7
    Specialist Member RCox's Avatar
    Late week volatility in stocks is not surprising given the Bernanke event risk. CELG is still holding above its gapping area, we will need to see some bearish closes rather than spikes before I am concerned about the trade.

  8. #8
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    The USD/JPY has traded in the money for most of the week so far, after brief forays into the low 99s. From a chart perspective, the trade should be fine as long as there are not breaches below the 99 level. The real test however, will be the aftermath of the Bernanke testimony, which is going to cause a lot of market volatility and shake out positions in a good section of the market. Broadly speaking, any dovish stance where further accommodation is viewed as a possibility should be supportive for stock markets and the USD/JPY, even with the downside pressure a dovish stance would have on the USD. Most of the USD selling would occur in other pairs if this is the case (particularly in the EUR and GBP). Bernanke is the wild card, however, because markets will be in flux into the late sessions this week, and this adds a major level of unpredictability where general rules for trading could be overtaken by short-term order flows that disproportionately affect some assets more than others. For this reason, it will be important to watch the charts into the late-week sessions. USD/JPY needs to maintain 99 in order for the trade to close positive.

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    I think Japanese parliamentary elections will have more impact than Bernanke. The elections are expected to bolster support for Abe within the government, panving the way for more of Abe's long term plans for stimulating the Japanese economy.

  9. #9
    Specialist Member marvel's Avatar
    It is sure that Japanese parliamentary elections will bring more volatility and eventually will accelerate the Yen devaluation in the coming weeks. That will happen of course if the support for Abe and the government materialize. If not, some surprises could take place.

  10. #10
    Specialist Member RCox's Avatar
    Both trades closed deep in the money on Friday, but I am still looking for significant upside in the USD/JPY for the remainder of the summer. I will be buying on dips, looking for several big figures before the end of the year.

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