Don't Panic Mr Mainwaring (pronounced "Mannering") was the catch phrase of an old much loved British TV show. Every time there was a crisis, this wonderful catch phrase was uttered.
Today we have a mess in both Europe and the U.S. Euroland is under attack due to the differences in the economies of the countries that make it up eg Greece versus Germany, while in the U.S. we see them trying to bail out the boat by printing money and risking a perception of default by not raising the debt ceiling.
Today we have a mess in both Europe and the U.S. Euroland is under attack due to the differences in the economies of the countries that make it up eg Greece versus Germany, while in the U.S. we see them trying to bail out the boat by printing money and risking a perception of default by not raising the debt ceiling.
Some great trades become more visible as more noise is taken out of the charts. My recent post about using Renko charts to do this is one way, although the range bars provide better high/low info as they have wicks.
The Euro chart below shows how sweet it can be.
There's speculation that the EU will enact some kind of Financial Transaction Tax (FTT) on traders like us. Do you think it's a real possibility, or just noise in the chaotic politicial discourse?
ReplyDeleteAnon, Very unlikely but if there is it may be just pennies added to clearing fees as our volume is so large..
ReplyDeleteHi Tom, just curious what your long term view of the market is? What time frame would you base your decisions on? Daily Chart?
ReplyDeleteWes, there's too much I can't know. For my longer term stuff I try and look about 4 to 6 weeeks out using daily charts, same methodology. We are in the most complex financial environment in the history of the world, and its all run by politicians.
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