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The Markets Wait
Mon, Aug 18 2008, 15:10 GMT
by Andrei Pehar
Not a whole lot to report today. Choppy, rangy markets - so be careful out there. Draw your trendlines, and trade inside of them - until price gives you a break followed by a successful re-test (support becomes resistance, and vice versa).
All eyes will be on consumers this week, as many US retailers report their Q2 earnings and overall sales for the first half of 2008. We will also get Canadian retail sales on Wednesday and UK retail sales on Thursday.
Oil is still obeying resistance at 115.60, and gold continues to trade below 795.26. Musharraf has agreed to step down in Pakistan, and Georgia and Russia have signed an agreement (however Russia has not yet shown any signs of pulling out). The markets are currently waiting for a direction to emerge.
Published on Mon, Aug 18 2008, 15:12 GMT
Archive
- Obama Names Next Treasury Secretary
Published On Fri, Nov 21 2008, 21:24 GMT - Industry, Consumers Feel Pinch as Dow Slips Further
Published On Thu, Oct 16 2008, 20:32 GMT - US Senate Passes Bailout Bill - Markets Unimpressed
Published On Thu, Oct 2 2008, 03:55 GMT - Critical Day Today for U.S.: A Survival Guide
Published On Fri, Sep 26 2008, 10:04 GMT - Will a Ban on Short-Selling Help the Dow?
Published On Fri, Sep 19 2008, 09:58 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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