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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek -SP500, USd/JPY, Gold Weekly and Monthly Expiry - 07/22-29/2013 !!!

    The new Top Five Tips of the week from Michael are here. Check them out and find which are the best binary trading ideas for this week. Test them on CommuniTraders!

    Originaly posted by Michael Hodges.


    S&P 500 Edging Into New Highs

    SPX
    Call/Put = Call
    Entry = Below 1695
    Expiration = One week

    This is going to be an important week for earnings. Second quarter results and full year guidance will be the driving force for the S&P. Last week the index set another new all time high and indications are it is not the last. The long term charts are bullish and indicating a buy but with the FOMC and the next round of data due just next week there is some economic resistance to watch out for. On the mid term charts of daily prices momentum is waning but still strong while stochastic is pointing up, supporting the longer term buy signal.

    This week should be a good one for buying calls. There could be some sideways action this week but the trend is up and the tide is rising. The economy is improving and earnings will reflect that. Look to enter positions near the support of the previous all-time intra-day high of 1687. I am trading calls with a target entry below 1695 and one week till expiration.




    Abe Position Strengthened

    USD/JPY
    Call/Put = Call
    Entry = Below 100
    Expiration = One Week

    The Japanese elections ended as expected. The strengthened position of Shinzo Abe bodes will for his long term plans and the ailing Japanese economy. The results were priced into the market though, as evidenced by the +1% drop in the USD/JPY in overnight trading. The drop however is likely another buying opportunity in the long term out look. The pair is trading along the short term moving average with bullish indicators. Based on my longer term analysis I am expecting at least a retest of the highs near 104.75. I am trading calls on the USD/JPY with a target entry below 100 and one week until expiration.




    Gold Retracing Ahead Of FOMC

    Gold
    Call/Put = Call
    Entry = Below $1320
    Expiration = One Week

    I am still bearish on gold longer term. However, the metal is making a retracement and with the move above $1300 I am expecting a little more upside. The cap may be the FOMC meeting next week but it is too soon to make that call. Because of my longer term analysis and the upcoming FOMC meeting I am going to stick to a one week position. I am trading calls on gold with a target entry below $1320 and one week until expiration.

  2. #2
    Specialist Member marvel's Avatar
    You are placing calls on everything this week Michael I hope it will be a good strategy as the week already started with a positive sentiment toward euro, British pound and stock indexes, also gold and some commodities, but too good could end bad haha if the overbought conditions produced selling pressure near the end of the week. I am not sure for now and it could end both way, but now the markets are too mixed for me to enter neither calls nor puts.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by marvel View Post
    You are placing calls on everything this week Michael I hope it will be a good strategy as the week already started with a positive sentiment toward euro, British pound and stock indexes, also gold and some commodities, but too good could end bad haha if the overbought conditions produced selling pressure near the end of the week. I am not sure for now and it could end both way, but now the markets are too mixed for me to enter neither calls nor puts.
    i think that earnings are going to be a good surprise this time around and so far I have been right. A few companies are missing but nothing too shocking yet. This mornings Caterpillar missed but others have been beating estimates by wide margins. This week should end up, next week is a different question...The FOMC and economic data will regain control of market direction.

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