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Equities August Storm Retraces 100%

Mon, Oct 1 2007, 13:36 GMT
by Anthony Samaha

ForexSurvivor

(Non-)Forex Department

Equities August Storm Retraces 100%

Subprime Worries Non-Existent

Long Term Target USDJPY 130 for 2008

Equities Fibo 100% popped up unwittingly at screens starting from mid September, meaning Subprime Worries, that I never believed in, contained. All the creative troubles, corruptions, crunching, tumbling, & all sophisticated storming definition that were used in August to show the market under severe fall steam have Prospered as antonym as of mid September.

Commencing by NASDAQ, we perceive that it has retraced 100% to jot down new high that was lost during August turmoil, to be followed by Dow Jones, S&P, FTSE, DAX, and even new highs are on the making. Resultantly, may I relate mutually the retracement to position my doctrine that were posted in my Newsletters of August that Subprime Worries did not breathe in the first place, and that having countable US bankrupted businesses means that the US economy does not take a punch even a thin?

The bull’s eye question leads to impose ‘Where Next?’  The equity market is retracing 100%, we are back to August highs/lows, & currently where to?

Equities bullish milieu is constructive and keeping the bullish farm open is of no hurt, aforementioned, yen gains on the weakness of more and more meaning Long Term Target yen crosses on the way to level mentioned by ForexSurvivor during December 2006 – EURJPY 200, GBPJPY 300, USDJPY 130 / 150. No tiny doubt about that along the course, and any nose-dive to be bullishly positioned for future positions. Be very prudent though, part of the low (Dow Jones / eurjpy) that was created in August/September Turmoil may be revisited for correction, with my creative conservative point of view that no new monthly low in yen crosses will be revisited. All that leads to High Volatility that will keep running the board till February 2008.

If you can not afford a move of 400pips a day, stay away. Hedging is costly, and skittish points need double margin to run at ease.

10pips Forex Mandatory Path

A.                 Previous Weekly Free Concrete 10pips trade: Long USDJPY ahead of its 11650 target by 17pips. Mission Incomplete Yet. On Hold still.

Anthony Samaha

Trading Engineer

*** The Potential Flows of Trading Information constitute my judgment and are not trading recommendations. ***

Published on  Mon, Oct 1 2007, 13:33 GMT