FOMC and Treasury: Help is Here - On The Way – Standing By
Posted on December 16, 2008 at 23:31 in Uncategorized by Jerry FurstNo Comments »
By Jerry Furst- Sr Analyst “1st on Forex”
at Investors Education Network.com

Historic FOMC Decision - and Annoucement - US Dollar Down Against the Majors

  

Above - the USD-CAD 4 Hour Chart (click to enlarge) shows continuing weakness. Supporting Trend lines posted yesterday held quite well under the strain of the FOMC Announcement

 

Attendees of my webinar were treated to a nice display of volatility and fundamentals

 

Thoughts from today’s FOMC announcement and observations to ponder

 

Unusual Delay and Accompanying Text

Traders used to receiving FOMC announcements promptly at 2:15 on the dot were treated to a slight delay waiting until 2:21 for the much anticipated announcement – and the accompanying text – which proved to be worth the wait!

 

Not wanting to be left out of the spotlight - Treasury Secretary Paulson was interviewed by Maria after the bell on CNBC and carefully stammered through his responses stated, “I am expecting no “major” institutional failure in the future. “

 

I have a new respect for Hank as the printed statement is quite nebulous but sounded great! He has come far as a politician and public statesman!

 

The Fed said – It would be a buyer of Mortgage Backed Securities

 

Gold responded by edging up over $850

 

DOW Rallied Over 400 points - closing up 370

 

Trichet stated earlier in the day that they do not need to keep pace with other central banks.

 

The Fed stated that it “will employ all available tools” – to return to “the normal functioning” of the markets.  they will buy mortgages and perhaps even more speculating consumer finance.

 

 

The “1st on Forex”  Week Ahead Condensed Economic 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.

 

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Bernanke & Paulson Due to Speak - Hedge Funds Next?
Posted on September 23, 2008 at 5:12 in Fundamental Analysis, News: Scheduled and Breaking, Relevant Ramblings by Jerry FurstNo Comments »

Oil and the Dollar

12:30am (eastern US time) - consolidation seen on almost all majors since the NY close. Extremely tight range.  Dollar is ”assumed” to be under pressure, and I suspect that to be the primary cause of the historic spike in Oil yesterday.

Assumptions with the market can often be wrong - especially in the short term. What you expect to happen may be right - but the market may take the long road getting there.

Hedge Funds may be next major issue as redemption’s are reported to be increasing.

Do you think Paulson and Bernanke have addressed the Hedge Fund Issue within their $700 Billion request?  Bernanke and Paulson are scheduled to be addressing the Senate Banking Commitee Tuesday and Wednesday. Get your popcorn out, this should be good as Barney Frank gets ready to grill. It’s hard to feel sorry for them - they should have seen this coming - alot of people should have seen this mess coming…

All the Central Bankers and the IMF know full well the implications of the hedge funds, and the G-X meetings communiques would almost always have a standard mention addressing hedge funds as a potential “issue”. I sure hope they have a handle on it.

Safe Trading - or standing on the sidelines

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Looking For a Bottom - Are We There Yet?
Posted on September 21, 2008 at 7:01 in Fundamental Analysis, News: Scheduled and Breaking, Technical Analysis by Jerry Furst2 Comments »

Looking for a Bottom? -  Catching A Falling —— 

Last week is indicative of the type of headlines and panics worthy of a possible bottom. I’m usually looking for the scapegoat being handcuffed and paraded infront of  televsion cameras - last time I think it was Martha Stewart and some cable television guy …

However - this trader understands that most market bottoms usually come in with a thud, and I am just not convinced that we have heard it yet - although a 40 foot crater at the Pakistan Marriott is a telling sign - nothing for us to worry about…

Photo ops of the entire US Government represented by The Treasury, The Federal Reserve, The Speaker of the House, and the Senate - at the Presidents Invitation to…. spend 700 Billion to prop up a “house of cards”  that the president just recently learned was a bit bigger than his. 

Are We There Yet?  A Look at The Vix and S&P 500


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Currency Markets Acting Well Technically - Hypoyhetically - Not Speaking

Currency Traders with their heads in the sand and only watching the charts may be doing quite nicely, as the trend and momentum trading is nothing less than excellent…. There are other issues that are currently hypothetical that I will not delve in to, but the possibility of extremely unexpected surprises are possible that might affect the currency markets and the way many of us trade…

The Week That Was and… Will Be?

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The 1st on Forex - Week Ahead - Summarized Calendar and Webinar

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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.

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