Wednesday, March 19, 2008

" ..., Sell The Fact!" --IFCN Wk 15 -Wed- Equity: $620.06

Buy the news- sell the fact.  

The highly anticipated reduction in interest rates by the Fed indeed 
took place today at 1:15 PM CST.

A great price drop ensued in the Euro and gain in the dollar because there was no reason for additional investments in the other currencies temporarily.  Everyone had previously gotten in other currencies that wished to, so selling was the only new option.

Large drop in silver and gold too.  You can be sure that the reaction will be just that.

Remaining FirstStrike Trades:
  • eur/usd: Sold @ 1.5792, stop 1.5852. Trade in progress---
  • usd/chf: Bought @ .9811, stop .9751. Trade in progress---
Other FirstStrike trades this week:
  • gbp/jpy: Sold @ 194.95, stopped out @ 195.55 for 60 pip loss.
  • gbp/usd: Bought @ 2.0198, stopped out @ 2.0138 for 60 pip loss.
  • gbp/usd: Sold @ 2.0098, Got stopped out for 1 pip profit @ 2.0097, since this was a "mistake" trade, I didn't wish to take a loss after having greater than a 100 pip profit at one point....
  • usd/jpy: Bought @ 97.58, stopped out @ 96.98 for 60 pip loss.
Current equity stands at $620.06.

Joel Rensink

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