Still out of the market, waiting for Friday.
The dollar has gotten stronger vs. the Japanese Yen.
After a correction today in the Eur/Usd, the dollar seems to be gaining again here too.
Since this Friday is the Non-Farm Payroll event, it is likely to have large potential because of the major flows of capital from bonds to stocks and from one currency's assets to another's.
Thursday will likely be a set-up day for Friday, and not be too directional. It will be interesting to see if we have any opportunities in OneNightStand this week.
-----(What follows is incorrect information that I received from a previously trusted source. Comments follow below....)
On another note, but in many ways more important..., just when you thought you've heard it all for the time being....
The powers that be think you need a GREAT BIG TAX on investments they said they would never tax you on.
That's what the Speaker of the House is saying. Read on---
Nancy Pelosi wants a Windfall Tax on Retirement Income!
Madam speaker Nancy Pelosi wants to put a Windfall Tax on all stock market profits (including Retirement funds, 401Ks and Mutual Funds!) Unfortunately, it is true - all done for the premise to help out the 12 million illegal immigrants and other unemployed minorities!
If this was a joke, it would be in poor taste.
She stated: “We need to work toward the goal of equalizing income in our country and at the same time limiting the amount the rich can invest.”
When asked how these new tax dollars would be spent, she replied: “We need to raise the standard of living of our poor, unemployed and minorities. For example, we have an estimated 12 million illegal immigrants in our country who need our help along with millions of unemployed minorities. Stock market windfall profits taxes could go a long ways to guarantee these people the standard of living they would like to have as “Americans”."
Adding a tax to your retirement is simply another way of saying to the American people, “You're so stupid that we're going to keep doing this until we take every cent from you, that is-- the workers.”
(I have added an additional correction post. I was blindsided because my trusted information source was blindsided. But this goes to show me and probably others, you have to check the "facts" we are presented with every day which we usually accept and build upon. http://www.snopes.com is a great resource to check news related and especially internet promoted information. Again, sorry for the inaccuracy! I now trust even fewer people!)
My only recommendation is the following: Learn to make profits from these serious new trends, and bank them in something that is really secure. The surest thing we can count on is MORE OF THE SAME!
Have a good evening and new day!
Joel Rensink
www.infiniteyield.com
PS: To receive the FREE! trading rules for the Infiniteyield Forex Challenge ($499 value) and the semi-monthly newsletter about this challenge, send an email to: newsletter@infiniteyield.com and tell me to which address you would like it sent. Please do not use AOL or Yahoo addresses. Nothing personal, but they've been known to filter out more good mail than actual spam. Try a Gmail address. It's free, simple and perfect for traders!
Wednesday, April 2, 2008
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