Trade: Sell emini S&P and Buy Usd/Jpy

Would like to sell 3 lots of Mar emini S&P @ 1,251 or better.. With stops placed @ 1,256.. Would be looking @ placing this position through asia before. First target is seen @ 1,241...

Buy Usd/Jpy @ 83.65 or better... Initial target 86.00...

Will not elaborate on basis.. Everything's proprietary..

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Blogging again

Have found a better way to blog during my busy schedule.. Glad to have such help from today's technological enhancements.

As from now on, I would be covering more markets as I get on the go.. And probably more trade calls than market commentary.. I'd like to know your views if there's any..

These are independent views and comes with the intention of sharing my resume as a trader..

I am available for any engagements to be a trader, market advisor, fund manager, trainer, technical analyst and consultant if the package is right.

Hope this blog could evolve into something that I hope it could become..

Cheerios and more good trades to come to all readers

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Free Elliott Wave Video

The Versatility of The Wave Principle In this classic Elliott Wave International educational video, Chief Commodity Analyst Jeffrey Kennedy demonstrates the versatility of The Wave Principle by showing you how to identify high-probability trade set-ups at-a-glance, and in any market. Watch the video and then find out how to access Jeff's current high-probability commodity forecasts FREE during EWI's FreeWeek - but only until July 22. The Versatility of The Wave Principle Get the best daily commodity picks FREE, but only until July 22!

Free: Elliott Wave Premium Access for Forex

Greetings,

Our friends at Elliott Wave International have just announced the beginning of their wildly popular FreeWeek event, where they've thrown open the doors to some of their most popular paid services to non-subscribers for one week only.

You can access EWI’s intraday and end-of-day Forex forecasts right now through next Wednesday, May 20.

This unique opportunity only lasts a short time, so don't delay!

Learn more about EWI's FreeWeek here.

Cheers everyone

Think That Central Banks Move the Markets? Think Again

April 23, 2009

By Mark Galasiewski

The following is excerpted from Elliott Wave International’s Global Market Perspective. The full 120-page publication, which features forecasts for every major world market, is available free until April 30. Visit Elliott Wave International to download it free.

Conventional wisdom says that central banks can influence or even direct financial markets and the macroeconomy. The very existence of Elliott waves challenges such assumptions. For if markets responded to every central bank directive, how could Elliott waves exist? Parallel trend channels, Fibonacci price relationships, the similarity of form between waves of different sizes and time periods—none of that would be possible. Central bank decisions would have to coincide perfectly with turning points in Elliott waves, and we know that just doesn’t happen. But even without using waves, we can expose the conventional wisdom for the fallacy that it is.

Take, for example, this assertion in a recent article in a U.K. economic weekly: “Part of the aim of central banks in driving down interest rates is to encourage a greater risk appetite among investors.” Two key assumptions underlie that statement: a) central banks determine interest rates; and b) lower interest rates can increase society’s appetite for risk.

To see how the first assumption is false, let’s take a look at the daily chart of Australian interest rate data. It duplicates a study that Elliott Wave International has often done with U.S. interest rate data. It shows how movements in the cash target rate set by Australia’s central bank, the Reserve Bank of Australia (RBA), appear to follow those in 3-month Australian Treasury Bills. After decisive moves up in T-bills from 2006 to early 2008, for example, the RBA faithfully raised its target. T-bills have since led the RBA during the financial crisis of the past year. In fact, the record indicates that the RBA almost always follows T-bills over time.

The proper conclusion to draw is not that the RBA has orchestrated the decline in rates since the early 1980s—but that it’s been riding it. During good times, central bankers look like geniuses; during bad times, they get tarred and feathered. Closer to the truth is that their interest-rate decisions are not proactive, but reactive, and that they continually follow in the footsteps of the market for lack of any other useful guide.

Now let’s look at the second assumption: that lower interest rates increase society’s appetite for risk. A simple glance at the weekly chart shows this assumption to be false. After the 1987 crash, the ASX All Ordinaries actually rallied for two years on rising rates and then sold off through 1990 on falling rates. Stocks then rose in 1991 on continued falling rates and sold off in 1992 on even lower rates. Continue following the chart to the right and you will see that there is no consistent correlation between the direction of interest rates and that of the stock market.

The myth of central bank potency is so pervasive that conventional analysts can’t even imagine a better explanation for price trends: that the market is the dog wagging its central bank tail, not the other way around.

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For more information, download Elliott Wave International’s FREE issue of Global Market Perspective, available until April 30. The 120-page publication covers every major world market, global interest rates, international currencies, metals, energy and more.

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Mark Galasiewski is the editor of Elliott Wave International’s Asian Financial Forecast and member of EWI’s Global Market Perspective team covering Asian stock indexes.

FreeWeek: Elliott Wave GMP

Greetings friends,

Long time no see.

Once each year or so, our friends at Elliott Wave International will offer free premium elliott wave access to their reports and analysis. So this is the time again.

This time, they are offering the public more than 100 pages of free analysis and forecasts on every major world market. EWI is giving away one month of its most popular global analysis publication, a 120-page "little black book" of investment insights called Global Market Perspective, which includes EWI's three regional publications:

• The U.S. Elliott Wave Financial Forecast ($19/month value)
• The European Elliott Wave Financial Forecast ($29/month value)
• The Asian-Pacific Elliott Wave Financial Forecast ($31/month value)

PLUS, the 120-page book includes analysis culled straight from EWI's professional-grade Specialty Services, each of which is valued at $199/month. This means you also get analysis and forecasts for the following global markets:

• World stock markets (China, Japan, Korea, U.S, France, Britain and more)
• Global interest rates (Australia, Europe, Japan, U.S.)
• International currency relationships (U.S. Dollar, Euro rates, Swiss Francs, Japanese Yen and more)
• Metals and Energy (Crude Oil, Gold, Silver, Natural Gas)
• And so much more!
  
  
  Learn how to get your free 120 pages of global analysis here

I would greatly recommend this because, in my opinion, such proprietary materials could hardly be accessed with no charge, so make good use of this opporunity to learn from the pioneers who brought the concept of elliott wave theory to the world.

Comic: During the Bad Times

Funny comics for your pleasure..