ss 101.95
18c stop
18c stop
CL Redux
- Thread starter schizo
- Start date
out +25
World stocks up as oil slips; euro volatile
- LONDON | Tue May 10, 2011 7:21am EDT
http://www.reuters.com/article/2011/05/10/us-markets-global-idUSTRE71H0EB20110510
Reuters) - World stocks advanced on Tuesday as
- strong Chinese trade data reinforced optimism about the global economy,
- while the euro was volatile on conflicting media reports of a potential new aid deal for debt-laden Greece.
1/ The euro briefly gained against the dollar after Dow Jones News Wires reported that Greece expected to receive fresh aid totaling 60 billion euros ($85.71 billion) as soon as June, but Greece denied it was discussing a new aid package.
2/ China posted its biggest trade surplus in four months in April as exports hit a record on stronger global demand, highlighting strength in the world's second largest economy despite its efforts to rein in inflation.
<b>3/ Oil prices fell
- on a firmer dollar and
- higher margins for oil futures
- but surprisingly high Chinese crude imports showed demand was resilient and limited further losses.
</b>
4/ Optimism about the pace of economic recovery
- after the robust Chinese data lifted the FTSEurofirst 300 .FTEU3 index of top European shares 0.9 percent. World stocks as measured by MSCI .MIWD00000PUS were up 0.5 percent.
"Markets have been reluctant to give up a lot of ground because there is confidence in a global recovery and confidence that it is turning into a sustainable expansion even if there is some loss of momentum," said Mike Lenhoff, chief strategist at Brewin Dolphin.
5/ GREEK WOES
The euro see-sawed against the dollar after Greece denied negotiating a new bailout and a German lawmaker said there were signs conditions for payment of Greece's next aid tranche in late May may not be met.
The single currency fluctuated in a $1.4267-$1.1.4378 range and was last flat on the day at $1.4348.
"This seems a bit early to come up with something concrete. I think we'll get more posturing before a deal can be agreed on Greece," said Gavin Friend, currency strategist at nabCapital.
Jitters over a possible second bail-out package for Greece had pushed the single currency down 0.5 percent to $1.4284, nearing a seven-week low of $1.4254 hit the previous day. Against the yen, the euro was up 0.5 percent at 115.79, after sliding to a 6-week low in Asian dealing around 114.76.
The euro's recent fall was accelerated by last week's commodity sell-off and Monday's move by ratings agency Standard & Poor's to cut Greece's rating to B from BB-, dragging it further into junk territory.
But some analysts said it was unlikely to fall as sharply as it did a year ago when the Greek debt crisis hit financial markets, because there was now a safety net for indebted countries.
- LONDON | Tue May 10, 2011 7:21am EDT
http://www.reuters.com/article/2011/05/10/us-markets-global-idUSTRE71H0EB20110510
Reuters) - World stocks advanced on Tuesday as
- strong Chinese trade data reinforced optimism about the global economy,
- while the euro was volatile on conflicting media reports of a potential new aid deal for debt-laden Greece.
1/ The euro briefly gained against the dollar after Dow Jones News Wires reported that Greece expected to receive fresh aid totaling 60 billion euros ($85.71 billion) as soon as June, but Greece denied it was discussing a new aid package.
2/ China posted its biggest trade surplus in four months in April as exports hit a record on stronger global demand, highlighting strength in the world's second largest economy despite its efforts to rein in inflation.
<b>3/ Oil prices fell
- on a firmer dollar and
- higher margins for oil futures
- but surprisingly high Chinese crude imports showed demand was resilient and limited further losses.
</b>
4/ Optimism about the pace of economic recovery
- after the robust Chinese data lifted the FTSEurofirst 300 .FTEU3 index of top European shares 0.9 percent. World stocks as measured by MSCI .MIWD00000PUS were up 0.5 percent.
"Markets have been reluctant to give up a lot of ground because there is confidence in a global recovery and confidence that it is turning into a sustainable expansion even if there is some loss of momentum," said Mike Lenhoff, chief strategist at Brewin Dolphin.
5/ GREEK WOES
The euro see-sawed against the dollar after Greece denied negotiating a new bailout and a German lawmaker said there were signs conditions for payment of Greece's next aid tranche in late May may not be met.
The single currency fluctuated in a $1.4267-$1.1.4378 range and was last flat on the day at $1.4348.
"This seems a bit early to come up with something concrete. I think we'll get more posturing before a deal can be agreed on Greece," said Gavin Friend, currency strategist at nabCapital.
Jitters over a possible second bail-out package for Greece had pushed the single currency down 0.5 percent to $1.4284, nearing a seven-week low of $1.4254 hit the previous day. Against the yen, the euro was up 0.5 percent at 115.79, after sliding to a 6-week low in Asian dealing around 114.76.
The euro's recent fall was accelerated by last week's commodity sell-off and Monday's move by ratings agency Standard & Poor's to cut Greece's rating to B from BB-, dragging it further into junk territory.
But some analysts said it was unlikely to fall as sharply as it did a year ago when the Greek debt crisis hit financial markets, because there was now a safety net for indebted countries.
<< good article to understand QE2 effects >>
Bernankeâs QE2 Averts Deflation, Spurs Rally, Expands Credit
http://www.bloomberg.com/news/2011-...urs-rally-expands-credit-as-program-ends.html
Ben S. Bernankeâs $600 billion strike against deflation is paying off, as stock and debt markets rise, bank lending grows and economists forecast faster growth.
The Standard & Poorâs 500 Index has gained 13.5 percent since the Federal Reserve chairman announced on Nov. 3 the plan to buy Treasuries through its so-called quantitative easing policy.
Government bond yields show investors expect consumer prices to rise in line with historical averages. The riskiest companies are obtaining credit at the cheapest borrowing costs ever and Fed data show that commercial and industrial loans outstanding are rising for the first time since 2008.
âLooking at market indicators, you have to be convinced itâs been a success,â said Bradley Tank, chief investment officer for fixed-income in Chicago at Neuberger Berman
Bernankeâs QE2 Averts Deflation, Spurs Rally, Expands Credit
http://www.bloomberg.com/news/2011-...urs-rally-expands-credit-as-program-ends.html
Ben S. Bernankeâs $600 billion strike against deflation is paying off, as stock and debt markets rise, bank lending grows and economists forecast faster growth.
The Standard & Poorâs 500 Index has gained 13.5 percent since the Federal Reserve chairman announced on Nov. 3 the plan to buy Treasuries through its so-called quantitative easing policy.
Government bond yields show investors expect consumer prices to rise in line with historical averages. The riskiest companies are obtaining credit at the cheapest borrowing costs ever and Fed data show that commercial and industrial loans outstanding are rising for the first time since 2008.
âLooking at market indicators, you have to be convinced itâs been a success,â said Bradley Tank, chief investment officer for fixed-income in Chicago at Neuberger Berman
ss 102.06
20c stop
20c stop
out +28
.long 101.0
SIM trade short from 101.82 just made 80 ticks. Always easier in SIM. First trade trying a method of trading off of 20 EMA anticipating continuation when things look ready to move. Watching the $DXY for confirmation. Trying out 20c stop loss and 80c target. Probably will work great until things slow down. Have to use some discretion to avoid getting chopped up.