The Dollar - Gives and Takes

Jumbo Jets and Jobs Anyone?

Costa Rican Telemarketing @ the Beach?

Joke of the Day: What do you get when you put some laid off Airline workers, cellphone makers, and wall street types together at the unemployment line talking about pensions and vacations? Send me your punch line. (I’m thinking Quentin Tarantino for some reason)

Technically Speaking - More Patterns I See

The Canadian Dollar Setting Up Again?

(Click to Enlarge Chart)

USD-CAD Symmetrical Triangle

appears to be setting up on the 60 minute chart as of 1:30am October 31. Fibonacci levels coincide with the potential price pattern targets at 1.2540 for the upside and 1.700 for the downside support level.

Look back at my previous posts from October 21 - 26 for a text book example of a triangle pattern completing quite nicely.

Live Webinar Monday - The Week Ahead - Free Registration
Click Here to Register for the Monday Nov 3 “1st on Forex” The Week Ahead Webinar  - broadcast every Monday at 12 Noon EDT - on FX Street via Hotcomm.

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.  

700 Pip Targets Hit in 48 Hours - Dollar Continues Amazing Rally - Technicals Look Great

Greenspans Admits to Flawed Reality of Greeds Span

The Senate oversight committee with testimony from former chairman Greenspan, Treasury Secretary Snow, and SEC Commissioner Cox was barely covered by the networks. It amazes me that the pundits and judge Judy can talk over and over rule what could have been the most important testimony broadcast to date as to what happened and why there was so little oversight.   Given the fact that Tax payer dollars are being used - you would think the tax payers should be given the opportunity to listen to the testimony - un interrupted if they wanted to.  But no reason to bore the people with the facts from the sources directly - better we get some 4th party opinion to talk over the testimony in between commercials.

The Week Ahead - Calendar and Webinars

 Summarized Scheduled Economic Calendar - Click Here

***  Attend A Free Live Market Coverage and Technical Analysis Webinar ***

Click Here to Register for this weeks “1st on Forex” The Week Ahead Webinar  - Every Monday at 12 Noon EDT -

FOMC and US GDP Report Live Webinars Ths week - Click Here to Register

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.

If You Can’t Say Anything Good - Keep Your Mouth Shut!

Last week I was invited to the Federal Reserve in Miami for Dinner and a Seminar, The Filet was excellent! The subject matter made me uneasy as I came to realize that there is a bit of a disconnect between the realities on the ground and the knee jerk reactions taking place in Washington. 

I would like to report that the end is near for our economic troubles - however I think I will just let the Fed and the Treasury do what it does - they have some good ideas and they do seem to be taking action - although it all seems to be symptom based and observational in nature -  versus leadership based, and proactive. I was vocal about the need to address the root of the problems - Like getting people into real mfg jobs creating and installing solar panels and hydrogen-electric-propane vehicles… getting us off the oil and utility companies nipple, etc….

Retroacttive Tax Deductions - Stimulus Plan II

One suggestion I made at the Fed meeting was an idea to return the tax deduction for using credit - retroactively - for all those people teased into spending to keep the worlds economy humming? I heard Ben Bernanke today mention that he was in favor  of a second stimulus package.

Another Idea: Recall All Dollars - Before They Start The Printing!

Another Idea I blurted out (befoe they took the microphone away from me) was to recall all US paper currency and replace them with new certificates - this would have an immediate effect of temporarily flushing/wiping out the underground - unreported economy. Might as well create some new certificates as long as they are going to have to start printing a whole lot of them soon!

Technical Analysis - Dollar - Canadian Poised for a Triangle Break?

The US Dollar - Canadian - 4 Hour Chart shows a nice example of a Triangle pattern with a very strong supportive trend line and a well defined resistance line on top. The Fibonacci Retracements and Extensions are lining up with the Triangle Pattern’s potential projected price targets. 

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.

I’m Back - On the Road Again…. An Evening with the Fed

Well folks, I just returned from Orlando Florida – home of Mickey Mouse, and I am now off to a cocktail reception and dinner at the Miami branch of the Federal Reserve tonight. That’s right, your humble narrator on the markets has been invited to: “An Evening with the Fed: Financial Crisis - What Happened - The Fed’s Response” - When I talked with the coordinator and joked about whether Bernanke would be there I was met with silence….                         

Multi-Tasking

I will tell you all about my adventure to the Fed over the next day or two - Be sure to tune in to my webinar on Monday at 12 noon eastern time as I am sure to have some observations for you. Click on the link below to register for the webinar.  I am busy trading all markets and maintaining other issues personal and otherwise - So I’m having fun learning how to live on a few hours of sleep and multi-task even more than usual…

Orlando: Psychology and Mind Management Conference

In Orlando, I did not dance with Mini-Mouse or take in the rides, I was at an amazing conference conducted by one of my Mentors, Mr. T. Harv Eker, The conference had nothing to do with trading or investing – it was all about Psychology and Mind Management – any professional trader will likely tell you that mastering your mind is the most critical factor to success - after you learn the mechanics of trading. Being a mentor, presenter and an educator - I love continuing education, networking,  and learning from others - I then pass my learned experiences on to those I teach.

Hot Topic - The Economy - No Surprises

While officially the conference had nothing to do with trading – but the economy, investing, and trading was a common topic in between speakers and sessions. For the people who knew me and my background it was really interesting to interact with non-traders discussing things like the Vix and why Richard Nixon took the US Dollar off the gold standard, etc…

My Economy is Fine

It was interesting as the primary speaker and celebrity – The host is quite well known – T. Harv Eker – He is successful and he came out stating that we need to be thankful for all the good things we have. He stated that “His Economy is Fine”.

The Need for Financial Education

Mr. Eker (and many of us) see this time as a great opportunity (remember everything is perception and perspective) He stated that he is buying. Someone in the crowd asked,  “What are you buying?”  Mr. Eker paused, squinted and quietly stated that he was buying indexes. It bothered me that some people I talked to did not know what an index was – the need for education is enormous.

Search for a Bottom Continues

Back on September 28 I stated that,  “Chicken little was “buying Puts on SKY”" - I believe that the trade is probably profitable - As the search for a bottom continues…

With an unscheduled interest rate cut by the US - coordinated with the other Central Banks not helping calm or give confidence to the markets - Could ths be the capitulation - or just a stop along the way?

Tipping Point and the Chinese

Rick Santelli on CNBC is saying that we are at the “tipping point” and he was seen waving the white flag for the credit markets.  As Rick was speaking -  I was just reminded of the old “Tip Jar” joke sign that says “Tipping is Not a City in China”, and wonder what the Chinese are thinking - and doing…  Let alone the free worlds other friends that are flush with Dollars …

Earlier This Morning Developments from the UK

UK Bank Bailouts and Mergers are continuing and the UK Prime Minister Brown is calling on G7 and G20 nations to come together to strategize. I think they passed a $500 Billion Pound Sterling  bailout plan. 

Personal Note and No Webinar This Monday

The “1st on Forex” blog and weekly webinar will be on hold this coming Monday and I will return Due to my focus on trading, personal, and family issues I have not been able to keep this blog updated as often as I wish lately. But Stay Tuned… and Subscribe with the subscription box on the left panel here. 

I am travelling now to Orlando for a conference and will return next Tuesday - So in the mean time - trade safe.  I’m going to Disney World…!

Register for Weekly and Special Webinars hosted on FX Street

You can register for my webinars by visiting the www.Investors-Education-Network.com web site

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.

EU Meets Over the Weekend

Pumping in liquidity and propping up businesses was front and center this weekend as a crisis in confidence is being headed off by a symphony of concerted action by central banks and governments and the EU nations trying to maintain composure on their alliance. 

The Financial Times is reporting that the EU Leaders are making statements vs proposing action to . “deal with the worst financial crisis since the 1930’s” ) click here for article

The Week Ahead

G7 Meets This Week, BOE releases Interest Rate Statement, FOMC Minutes will reveal what Bernanke and team were thinking at their last meeting.

Other Scheduled Events …

The Week Ahead Calendar and Webinar - Click Here

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.

Live Webinar Schedule - Click Here

The Week Ahead - Summarized Scheduled News Events Calendar - Click Here

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients  Click Here for a Free Self Evaluation Survey.