http://www.yummyapple.com/02-22-2008.html

Let's review what happened earlier today.

First of all, we had UK Retail Sales. The m/m came out at 0.8 versus 0.3 expected, definitely tradable. It moved about 80 pips on GBP/USD in the first 5 minutes. GBP/JPY moved about 160 pips in a first hour or so.

The U.S. Initial Jobless Claims came out exactly as expected so no trading opportunity.

The Philly Fed came out very low today again, and although I don't think this indicator is tradable, when it deviates so much, it can be.

Watch the video for more details.

Let's now talk about Friday.

1. Friday, February 22nd, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Retail Sales coming out. I recommend trading the headline number but be aware if there is a conflict, the initial spike may be in direction of headline but then it may be muted or go the other way depending on numbers. I think 0.6 trigger can be used because every time we had 0.6 deviation or greater, we had pretty good price actions. It is expected it will came out at 0.7 (or sometimes 0.. If the headline comes out at 1.4%, you may sell USD/CAD and look for 35 to 40 pips. If it comes out 0.2% or lower, you may want to buy USD/CAD and expect 35 to 40 pips in the first hour of the report.

That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link.

Thank you and good luck with your trades.

To Our Success!
-Sir Pipsalot