Friday, October 12, 2012

Worst day in the Markets Since Memorial Day- Weekly Forex Review

For three straight days we've seen negative gains in equities and witnessed the S&P 500 ending the week with -2.21% to close, worst since memorial day weekend with a close of 3.02% drop.  And on a personal note some major losses for me trading this week,  no fun that's for sure!

Gold crapped out today too with falling -13.23 or -0.749% closing around $1754.2
The only upside for the week with options expiring was we saw a Ok move in the EUR/USD with the Dollar falling and the Euro making a good move to the upside right into the 1.2992 resistance level and bouncing off for a nice short position.




I'm still believing to see a rebound with Gold and hopefully some better sentiment in the market this next week.  Have a great weekend everyone and get some rest!  I know I need it, time to catch up for me :)

-David

ps.  
On another note,  Don't know if you caught the VP debate on Thursday evening but you didn't miss much, actually it was probably the worst debate I've ever seen.  I tell you it wasn't a mystery about Joe Biden sticking his foot in his mouth about a thousand times, but honestly he showed the world how big of a low life he really is and that he lacks any class or even respect for the other opponent Ryan in the Debate.  Biden would not even let Ryan finish talking and would interject every time with some random negative comment.  You know regardless who's right in all this mess it just shows me the man does not even have enough decency to respect another human being for whatever they believe regardless if its his own thoughts or anybody else's.  The moderator did horrible job to even allow this to take place instead of cutting each candidate off when their time was over but instead she just let Biden be a jerk and I think she enjoyed it!     Well,   anyway I had enough and turned off the TV after about 25mins,  it wasn't even worth my time to watch...        Be well.




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