[Pheniox_Bernard]

I opened in the morning at 8:25am EST with a short (sell) @1.3423 on the EUR/USD stoploss at 25 pips and closed @1.3384 +39 pips

I opened in the morning at 8:25am EST with a short (sell) @1.2160 on the USD/CHF stoploss at 25 pips and closed @1.2160 -25 pips

The CHF closed out very early so I moved my stoploss
manually on the EUR as it went past the break even mark
a few pips at a time. I managed to make a profit of
14 pips here. The joys of babysitting a trade.

What has been happening the last few day is a lot
of carry trades have been cashed in and there is
a major panic in the markets. Stability should
come soon as Japanese traders look for bargains
again in their carry trade portfolio's.

Tomorrow Friday August 17 2007

Consumer Sentiment

Definition
The University of Michigan's Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes. Among economic reports, consumer sentiment refers to the Michigan survey while consumer confidence refers to The Conference Board's survey. Higher sentiment levels are a leading indicator of rising consumer spending, which accounts for two-thirds of the economy.

Why Do Investors Care?
Any pattern in consumer attitudes and spending is often a major influence on stock and bond markets. For stocks, strong economic growth translates to healthy corporate profits and higher stock prices. For bonds, the focus is whether economic growth goes overboard and leads us to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth. This balance was achieved through much of the nineties.
Consumer spending accounts for more than two-thirds of the economy. The more confident consumers are about the economy and their own personal finances, the more likely they are to spend. With this in mind, it's easy to see how this index of consumer attitudes gives insight to the direction of the economy.

I will open in the morning at 8:25am EST with a long (buy) on the EUR/USD stoploss at 25 pips

I will open in the morning at :25am EST with a long (nuy) on the USD/CHF stoploss at 25 pips

I will also be looking to take

EURUSD: Hold long from 1.3405, stop 1.3355, target 1.3555

Bernard