Phantasmix Stock Market Blog

Morning Report: 08.15 London

• It’s been a fairly steady, unspectacular start to the trading week with no major movement throughout the Monday Asian session. In Libya, the rebellion appears to be getting closer to deposing Gaddafi, though the leader still shows no signs of stepping down gracefully.

• The US dollar is slightly weaker in early trading with commodity heavy USD/CAD pushing to its lowest level since Feb 28th 2008.

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• The yen is also showing signs of slight weakness as investors ease their demand for safe havens. The EUR/JPY appears to be holding above support at 112.00

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• Gold is higher this morning but has retreated from its morning peak of $1416.40.

Forex trading ideas:

• It’s been a quiet start to the trading week for the Japanese yen with the USD/JPY unchanged through the Asian session. The trading calendar offers few highlights, but the geopolitical situation is still fluid so there may still be some significant activity to come today.

A good way to play this might be an IN/OUT trade predicting that the USD/JPY will close outside of 81.25 or 82.00 in 1 days time (March 1st). If successful, this could return 103%.

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There’s no correlation to SPX price whatsoever (bottom box), still I’m curious what causes these spikes in the new 52-week lows. And why does it have no effect on SPX?

I’ve been selling my templates elsewhere for some time now, and finally got around to putting them on my site. You’ll pay less here, directly, since I’m not giving a cut to anyone. Yep, keeping it all.

Check out the new “Template Shop”.

Currently there are three documents available: Investment tracking chart, Covered calls calculator, and Straddles calculator.

Feedback is welcome, although I’m pretty sure you won’t have much to complain about. Spreadsheets have been tried and tested many times. I promise, you won’t be my “guinea pig”, others have done it for you already.