Thursday, April 1, 2010

Harry's Tiny Moment


Harry got an upgrade today from Scotia, but only advanced +1.32%. Pretty tiny for a high beta stock.

And I can't get my facts straight, apparently. Earnings announcements were already out yesterday. The market also apparently didn't like HWD's earnings results so much.

It seems to me Harry needs to step up the alpha factor at least threefold. Perhaps he requires a two hour massage to lift his spirit... and who better to do this than Nurse ForexDiva?

Since it's Non Farm Pay Day tomorrow, I'm keeping my GBP/USD short for better or for worse. The Guys of London are at the pub already and won't be back till Tuesday, so my guess is that we're not going to see that much of a push up. I've been SO wrong lately. In addition to choosing some clear losers just because I had revenge in my heart for missing out on, oh a few hundred pips, I've also failed to ride the GBP/USD trendship with benefits. Please don't put me back in the kiddie pool!

I admit that I'm now De Facto Bimbo since I was all Sayonara Dollar Bulls the other day and got into a GBP/USD short myself, but I refuse to believe that a bearish divergence like this could fail so miserably - and perhaps that was the problem. Plus, in the absence of economic data, any negative news coming out of the UK could be used as an excuse for a sell-off. The political landscape is just one excuse.

US unemployment claims were less than expected and the ISM Manufacturing PMI figure was positive too.

If NFPs don't please, then this could be the final dig in the Dollar Bulls' Gold Diggin'. We may be too legit to quit, but we have between now and the ISM Non-manufacturing Composite announcement on 05 April 2010 to potentially dash with some cash.

We are in the midst of reversing the whole move down from about 1.5380, which happened around the time of FOMC / BOE Minutes / UK Jobless Claims back in mid March.

My strategy is to get in with another bearish divergence if it presents itself. And if not, then I'll look for another opportunity such as with GBP/JPY or my back up the truck friend, USD/CHF.

Oh, and I was just getting ready to change the tagline on my blog to: That's how it's done in Belgium. LOL.

+2.19% on the standard brokerage
+1.33% on the Roth IRA


Harry or Franc... I'll be your APKS nurse if you fulfill my Financial Heaven daydreams...



1 comment:

ForexDiva said...

That's a bit Confucian, isn't it.