Looking Back 8/2 to 8/6…
My name is Andrew Tehako. I am a trader at TnT Group. I hope everyone is enjoying the blog and the first week of postings we have had. Please feel free to leave comments on what you are seeing or maybe disagree with what we are talking about. However, please dont purposely bash anyone or leave negtive comments as that is not how we want this blog to run. We however, will not shy away from a good discussion about the markets if you disagree or have other thoughts. We will embrace that.
Looking back at this week there was a lot going on. We had ECB and BOE come out with rate decisions that came out unchanged as expected. Both Canada and US jobs numbers came out and came out negative. Hopefully, these numbers will provide equities with some sort of direction going into next week. Maybe with these bearish numbers traders will see some consistancy in these markets instead of the chop fest that has been occuring. I understand why we have had the choppy trade. There is no denying that people, even some of the best traders out there, are confused on where we should be. Will we see a double dip? Are we out of the woods? Are companies turning things around? Are companies actually beating earnings by still cutting costs and revenues are not increasing? There a lot of questions out there in everyones minds that still need to be answered and it shows in the choppy markets. No one will take a stance on the direction we should go and it makes for a tought trade.
On top of that, and still showing the inconsistancies that the market is showing, the dollar is becoming a mover as of late, with the yen and euro being so strong. Everything is fine in Europe all of a sudden? Or is it just that much worse in the US and people just dont see it yet?
Are we seeing deflation or inflation? That is another huge underlying question facing traders and others alike. This also does not help with the choppy trading. All of these very disturbing thing happening in our economy makes one think the trade will not lose its appeal to choppiness anytime soon.
However, with these negative jobs numbers we can only hope that some consistancy will come into the markets next week. Even if it is a couple days, I will take it!
Good luck next week traders.
“There’s an important phrase that we use here, and think it’s time that you all learned it. Act as if.” – Boiler Room
