Hello everyone, i hope you all had a great Thanksgiving.  We are faced with the first of a number of interest rate descisions this week.  The RBNZ starts it off tonight with their cut followed by ECB and BOE.  These cuts are for the most part priced in but I expect we will get a counter intuitive rally out of the very currencies that get cuts.  Be very careful the rest of the week as NFP ends the week with a bang.   NFP is also expected to be a trainwreck and anything less should cause a rally in both stock markets and the majors but if it comes out as expected or worse…look out below!  

Greeting everyone, today is Wednesday also known as “hump day”, the stock market seems frozen today.  It seems to be just treading water here and that is holding many of the currency pairs back.  We are still looking for the Dollar to fall.  The Fed’s reckless creation of Dollars can only lead to hyperinflation.  Position yourself to take advantage of this inflation rather than being at the mercy of it.  One gret way is to aquire physical silver near the 10.00 level.  We suspect that Silver will be trading well north of $25.00 per ounce in the latter half of 2009.  Have a safe and happy Turkey day every one!

Hello again everyone.  The last few years in particular have seen rather violent moves in the markets during this Thanksgiving week as well as Christmas week next month.  This is largely attributable to the dramatic fall in liquidity since many traders here in the US, myself included, take most if not all of this week off.  This creates some great trading opportunities but those come with increased risk.  Keep position sizes lower than usual this week to contend with this increased volatility.  The macro turn back down in the Dollar I have mentioned in prior posts continues.  We continue to sell Dollars on rallies against the majors.  Also we expect stocks to sag the remainder of the week so that should drag the Yen pairs with it.  Have a happy and safe holiday to everyone in the US.   

Hello again everyone.  Well here we are again with another Freaky Friday.  These Friday’s have seen tremendous volatility in the past few months and today is no exception.  I make a habit of not trading Friday afternoons as these late day swings are often very violent.  I also no longer hold trades over the weekends as gap openings on Sunday night have become the rule rather than the exception.  It does appear that a more macro turn in the Dollar is underway.  I will be looking to buy dips in the Majors against the Dollar early next week.  Have a great weekend everyone, I will see many of you in my webinar on FXstreet.com Monday at 10:00 EST.

Everyone,

I’m alive!  I will be posting more often as soon as I get settled into my new position at Interbank FX.  Here is a link to that news:

Interbank FX Hires Rob Booker as Chief Market Strategist

Right now, I’m doing a “Cover it Live” event at FXSteet about the International Traders Conference in October.  See you there!

- Rob

Dave posted an idea (which you can see right here) on Friday.  The pair did break the trendline, and now it is rising up and re-testing the trendline.  This is a suitable place to enter the trade also; the stop loss is shown in the red dashed line.

You’ve heard me say before that I am unhappy if a pair does not quickly begin to move in the direction of the baseline (green) when the trade opens.  This is one of those situations.  I am going to give this a bit more time (I will update you a bit later) but it’s on a short leash.

This morning I interviewed Raghee Horner on my radio show.  You know I generally use this blog only for trade ideas, but I really loved spending some time with one of the most intelligent (and understandable) traders in the world. And I wanted you to hear what we talked about.

Just click on the little arrow below to listen to the broadcast.  The interview with Raghee starts about 20 minutes into the broadcast (and if you want to skip that far ahead, just download the entire show and jump forward).

http://www.robbooker.com/radio/archives/July09_2008_TraderRadio.mp3

To read more from Raghee, you can get to her blog at this link:

http://www.RagheeHorner.com

Mostafa wrote in and had a great question in the comment section of the USD/CAD trade.

Here is the link to the post and his question. 

He wanted to know where I put the stop loss on the USD/CAD trade.  The stop loss always goes beyond (at least 15-20 pips beyond) the highest or lowest point the pair went when making the blue line.  More on this as I post more trades.

I did an interview at the Trader’s Expo about the US Dollar and the Klingon Darsek, which is not even a real currency.  Click below to watch the video.  Don’t forget to "Digg" it if you think it’s worthwhile.  The full link is also below.

Here is the full link:

http://video.msn.com/video.aspx?mkt=en-us&vid=ba6e58d6-8f97-4cab-b77e-5822c24b54b7

Good morning, all!  I’ve updated a bunch of trades below for June 30.  More updates coming throughout the day.  Dave will probably jump in with a few ideas and animals and crazy charts of his own.

I’m traveling and will do my best to update the charts as well.