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| Neutral |
- Sentiment is a bit bearish this morning due to China's surprise rate hike (25 basis points)
- No real weakness across the markets so it gets a Neutral rating
- Volume should be light due to the holiday week, and now the huge snow storm
- EUR/USD still trading flat across the 200/150 day moving averages
- GBP/USD is bouncing between 200 and 150 day moving averages
- USD/JPY broke support but has bounced off of the 50 day moving average
- Wait for a break of the 50 day moving average in USD/JPY
- Dip buying is still strong
- Careful entering new positions on the light volume
- Portfolio is relatively flat with some short puts
Stock Watch
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| FOE |
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| FTR |
Both FOE and FTR are developing nice ascending triangles. Wait for a break of the resistance before buying in. A good location for a stop-loss, in both, would be right under the trendlines.
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