http://www.yummyapple.com/02-29-2008.html

Let's review what happened earlier today.

First, we had Swiss employment indicator. That came out very close to expectations so it was a no trade.

At 8:30 a.m. we had U.S. GDP coming out. It did not hit our 0.4 trigger so there was not much we could do about it.

The Tokyo CPI did not hit our trigger either so another no trade here. By the way, the Yen is gaining incredibly versus everything right now. Watch the video for more details.

Let's now talk about tomorrow.

1. Friday, February 29th, 2008 (2:00 a.m. New York Time) UK
At 2:00 a.m. we will have U.K. Nationwide House Prices m/m coming out. It is expected to come out at 0%. If it comes out at 0.3%, I would buy GBP/USD or GBP/JPY whichever seems to better to take based on a price action right before the report. If it comes out at -0.3%, I would sell GBP/USD or GBP/JPY. If the trigger is hit, I would expect a move of 30 pips on GBP/USD and 45 pips on GBP/JPY.

2. Friday, February 29th, 2008 (3:30 a.m. New York Time) SWEDEN
At 3:30 a.m. we will have Swedish GDP q/q coming out. It is expected to come out at 0.7% (some people say 0.6%). I would use 0.3 trigger here. If it comes out at 1.0% or higher, I think it would be a good opportunity to sell EUR/SEK. If it comes out at 0.3% or lower, I think it would be a good opportunity to buy EUR/SEK. If the trigger is hit, expect 300 pips of a price action. This is kind of different animal to trade so if you did not get used to it, just observe. Although spikes are big in terms of how many pips they move the market, a spread is also much bigger and a value per pip is very low on EUR/SEK.

3. Friday, February 29th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have a few indicators coming out but I think U.S. Core PCE m/m would be a key indicator here. It is expected to come out at 0.2 (some people say 0.3). If it comes out at 0.5 or higher, I would sell GBP/USD. If it comes out at 0 or negative, I would buy GBP/USD. Try to avoid conflicts with the other indicators although I think the Core PCE is going to be the most important indicator. Nevertheless, if there are big deviations on the other indicators and they are conflicting with the PCE, I am not sure how the market is going to react on that so I would just stay away as some people say: "better safe than sorry."

Tomorrow we will also have Chicago PMI and the Consumer Sentiment. I don't recommend trading them. Keep in mind that Chicago PMI comes out 3 minutes before official release through other sources.

This week was one of the slowest in a while so be careful tomorrow. I think next week can be a nice as we will have a few very important indicators coming out.

That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link. Good luck and have a nice weekend.

Thank you again and good luck with your trades.

To Our Success!
-Sir Pipsalot