Long Trade: NYSE Euronext (NYX) and the US Dollar
Posted on October 28th, 2007 in Long Trade |
On 10/25 In entered into NYSE Euronext, Inc (NYX) at $90.00 after seeing the huge up volume and wide price spread on 10/24. My first target is $101.00 on 4/3 which has a high volume high. All the technicals are strong and EMAs and turned up nicely. Next week will be the end of the month and trading should be bullish as it’s window dressing time for the fund managers.

Wednesday 10/23 is also the Fed announcement for interest rates and Halloween….spooky day!!! Ben will either drop another 25 points on short term rates or more. The Feds want to save the banks who need short term rates to go down. Sub prime loans are a mess and housing is bad. This will ease short term credit issues and give a positive boost to the general public……but it sends the US dollar down the toilet again. USA is on sale right now and ripe for foreign money to do some shopping here. Gold and oil will continue to go up and conglomerate companies (like GE, MCD, KO) will do well as overseas revenue when converted back into US dollars will give a nice boost as seen by the MSFT results a few days ago.
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