Tuesday, April 27, 2010

Tuesday 27 April

It has been one of those nights as risk appetite is waning and equities sell off.  AUDUSD has failed at the 93 level, Cable at 1.55 and EURUSD at 1.3220 and the JPY crosses are pulling back.  I am sticking with the bullish daily and weekly candles from last week and I see these pullbacks as buying opportunities for dollar crosses and I am waiting for the retracement levels.

The Greek drama is becoming old fast and EURGBP is unable to hold below the trendline it broke.  I am not buying but I will leave that one for now and see what it does at 0.8830/0.8850.  Bizarrely Greek/German 10yr bond yield spreads are now at 687bps a 12 year high.  Eventually that will catch up with EUR.

Late today is the NZD rate decision.
27 April 1987 was one of the biggest down days in stocks ever ... :)

EURGBP short balance stopped out (-0.5R)
USDCAD long 1.0004 stop 0.9984 PT 1.007 counter-trend
EURUSD short 1.3345 stop 1.3370 PT 1.3265 break of TL support
CRUDE short closed 25% @ 83.30 target (+1.25R)
CRUDE short closed balance 83.50 (+1.1R)
CRUDE closed original short balance 83.50 (1.47R)
USDCAD long closed 50% @1.007 target (+1.65R)
USDCAD closed balance 1.008 (+1.9R) - old trendline resistance
EURUSD closed 1.3280 (+2.2R) - old trendline support
EURUSD closed original short balance (+7R)
GOLD short closed 1146.50 (+2.3R) - 50fib
GBPJPY closed 50% @3R 143.90 (+1.5R)
CRUDE long 83.50 stop 83.00 PT 85.50 - 4hr doji
AUDJPY closed 86.40 (+1.6R) - Turnaround Tuesday
CHFJPY closed balance 86.70 (+3.3R)
GBPJPY closed balance 143.60 (+1.8R)
CRUDE long stopped out - Greece downgrade (-1R)
CRUDE short 83.00 stop 83.30 target lower
CRUDE short closed 82.00 - last weeks low
CRUDE long 82.00 stop 81.50 PT TBD
USDCAD short 1.0170 stop 1.0190 PT 1.007 / 1.0035
GBPJPY long 142.00 stop 141.50, PT 144.50, 4hr doji

Open trades:
USDCAD short 1.0170 stop 1.0190
CRUDE long 82.00 stop 81.50
GBPJPY long 142.00 stop 141.50


  1. Love the comment bit! Just watch out spambots don't come out!

  2. RUMOURS of a GREEK BANKRUPTCY, sigh ...

  3. Nic, Greece is sorted almost, bailout is happening sooner or later.

    Prepare yourself for the second feast from PIGS..it's time for portugal now than spain.

  4. turn around tuesday , although gbp struggling to bounce

  5. What a rollercoaster. Thanks Bear. Right after I closed everything

  6. only have some short euraud left closed everything else

  7. I don't think Momo Johhny the day trader will care, looks like stocks will go up anyway.

  8. I know, shudda woulda cudda bought. See how all the dailys close tonight.

  9. Right. To keep my out of crappy trades I am making tea and watching Fabulous Fab on the TV.

  10. Another downgrade ...Greece to junk

  11. there u go Nic, these stocks fallin apart quicker than a hot chook

  12. No kidding and we still have a treasury auction to get through

  13. whats ur take on these metals, silver sinking but gold still rallying..

  14. Yeah Gold is the fear thing, it rallied when Grece was downgraded before with stories of EUR/Gold and Greeks buying it.
    Gold is a tough one for me

  15. Thanks, Ive pretty much missed this move completely. Think I may just as well walk away, feeling about as annoyed as these senators in the Goldman hearing. Best to sit back and see how we close.

  16. Don't feel bad, I think this is setting up some opportunities. Tomorrow is another day. Could be worse, we could be long stocks or in fixed income - not fun markets today

  17. all good, its days like this im glad i have a garden to water and a pool to clean...

  18. Great trades today Nic. Helps being able to check the lower TFs sometimes!! Dan