http://www.yummyapple.com/03-10-2008.html

Let's first talk about past Friday.

Actually, before I start, I would like to apologize for sending a wrong signal last Friday. The video was right but the text was not. I had several windows with already written text that I just copy/paste, but it seems I copied the text from a wrong window. This is what happens when we have such a busy week like last week. Only what I can say is I made tons of money on my own account, and I wish every week was like last week we just had, even if it causes some glitches. At least you know we are not just sending signals but putting real money on all trades. Anyway, I apologize for that.

Well, let's talk about the Canadian Employment first. It came out as a big positive number. The price moved down very rapidly. In fact, I think the SNW was the only way to take advantage of that big move. The afterspike was tough here, and in fact, after a while the price retraced completely. If you made a quick afterspike trade, probably you were able to grab a few pips but if you left it for a longer time, it would be a BE or even a losing trade. In fact, Diamonds people took a small loss here.

Then we had U.S. Non-Farm Payroll coming out. It was the worst NFP in a recent history. It was a sell signal on USD/JPY. It went down by 70 pips or so; however, the price completely retraced after a few minutes. One of the reasons could be unemployment rate better by 0.2% (and therefore a big conflict). A deviation by 0.2 does not happen too often, and it is a significant deviation. On the NFP I don't keep my positions opened for a long time; I usually enter and exit all the time, and it worked OK this time. It was hard to make money and I think I was kind of BE on this.

Let's talk about Monday.

1. Monday, March 10th, 2008 (5:00 a.m. New York Time) NORWAY
At 5:00 a.m. we will have Norway CPI m/m coming out. If you are not able to trade their currency, do not worry - just skip this trade. A headline number is important but you want to trade the underline number. The underline m/m is expected to come out at 0.6% and the y/y is expected to come out at 1.9%. I think I will trade the CPI underline y/y as it usually comes out first. If it comes out at 2.2% or higher, I would sell on EUR/NOK or USD/NOK, looking for 300 to 400 pips move. If it comes out at 1.6% or lower, I would buy EUR/NOK or USD/NOK, and look for 300 to 400 pips move as well.

2. Monday, March 10th, 2008 (5:30 a.m. New York Time) UK
At 5:30 a.m. we will have U.K. Industrial Production coming out. I would trade m/m number, looking for 0.3 deviation. If it comes out at 0.4 or higher, I would buy GBP/USD or GBP/JPY and look for 40 to 50 pips. If it comes out at -0.2 or lower, I would sell GBP/USD or GBP/JPY and look for 40 to 50 pips as well.

3. Monday, March 10th, 2008 (8:01 p.m. New York Time) UK
At 8:01 p.m. we will have U.K. RICS House Price Index coming out. I don't think it is going to be tradable. Maybe if it comes out at -45 or higher, you can buy GBP/USD and look for 30 pips or so but quite honestly, you would need to have a good deviation on this in order to place a trade. I am pretty sure I will not trade it myself so I don't want to recommend trading it if I want to skip it myself.

That's all for tomorrow.


Thank you and good luck with your trades.

To Our Success!
-Sir Pipsalot