AUTOREFRESH 
Global economy: GDP figures disappoint
By Sean Lee || January 26, 2010 at 23:15 GMT
|| 8 comments || Add comment
Both South Korea and Britain issued disappointing GDP figures yesterday for the fourth quarter. South Korean officials were at pains to describe the number as nothing more than a blip in an otherwise stellar recovery. British economists were similarly disappointed but the economy did nevertheless technically leave it’s recessionary period behind. One disappointing number can be considered a misfortune, two in a row would be downright careless. The next data will be viewed with increasing interest in the financial markets.
I don’t know Sean, this market doesn’t seem like it will be sensible these days. Even though the stories are old it probably doesn’t matter what the stories are, it matters how people will react to them. So if the market’s looking for a reason to unwind it will probably find one.
IMF said global economy will be stronger … http://www.rttnews.com/Content/AllEconomicNews.aspx?Node=B2&Id=1190281
Morning Sean, I’m just curious, are you still on your strategy buying dips EU below 1.408?
Morning, yes I’m still a buy-dips player here but I’m holding off until I see how EUR/JPY performs today. Good technical support at 14030 and option protection at 14000 so the way this market has performed recently, it will fall to 13970 and then bounce sharply.
Thanks Sean. Btw do you think the increase of dollar short from future traders as reported by Jamie can be a good reason to go long? Thanks…..http://www.forexlive.com/79366/all/futures-traders-got-shoerter-usd-as-of-tuesday
Generally speaking yes, but it can take quite a while before the market decides to change tack. The futures data shows the market turning bearish USD at present and betting against the market, hoping that they will have to stop-out of their positions has been a costly exercise for me in the past. Plus relying just on one set of data to determine which way the market is set is another problem.
Alright thanks for the advice. i will wait for next COT reports to determine my move on EU. I still have one floating position at 1.415. Hoping the recommendation from major US bank to long EU for the target 1.48 is happening soon
I just re-read that article this morning. Their s/l on the strategy is at 13950. Most of the big banks have been getting their calls all wrong recently; let’s hope this one finally works;)