Updates

Mixed US Data but no shocks

A few things:

ISM Manufacturing was soft. However, ISM Manufacturing Employment was firm and construction spending was decent.

Interestingly enough, there was a drop about 40 seconds before the data came out which was is something I remember and wrote down the last 2 times. That makes it 3 times that something has happened before the data has been release, all for this specific release. Could be a coincidence, who knows….

Anyway there are no real shocks here and nothing that should really give concern over the health of the US economy. I still expect USD strength to be the theme at the end of this week.

2 Comments

  1. Hi there,

    Saw your post on Plus500. If there is definite entry and exit points, couldn’t you wait for a particularly volatile Friday (i.e this week), then open a buy on something before market close. If the price rises you win, if the price falls it hits the SL immediately.

    Is this plausible?

    Kind regards,

    Daniel.

    1. Hi Daniel,

      That is actually a genius idea. Especially if you know companies announcing profits before the market opening. However I suspect that if you did it a few times, they would find a loophole to ban the account. If they didn’t it would literally be an amazing cash cow. 1% risk for 50% returns etc. Imagine doing something like that on a currency pair 1 minute before a massive announcement like the NFPs etc.

Leave a Reply