The following was a post from Larry Levin of Trading Advantage and looks once again at the Greece issue….which we thought was taken care of….but apparently not.

Cheers (and enjoy)

Greece Again…Really?

Greece is in the news again…really? When will this story just go away? Apparently Greece was NOT bailed out a few days ago as reported in The Guardian from the UK and is still in need of funding its profligate spending habits & future promises. But what is even more amazing than that, the banksters on Fraud Street used this morning new “rumor” of a “new bailout” to pump the market higher again on even lower volume again. This is now beyond ridiculous.

According to ABC news:

Greece could seek IMF funding to help overcome its debt crisis if its EU partners do not provide “clear support” next week, a government spokesman said Wednesday.

George Petalotis said the March 25-26 European Union summit on how to deal with a potential bailout for Greece will be crucial, as the country struggles to reduce a bloated budget deficit and public debt.

“I believe the summit is when it will become evident whether the European partners want to support a country … or whether we have to resort to some other solution,” Petalotis said.

Nope, that does not sound like a “done deal” to me.

In a piece on Bloomberg today we read:

March 17 (Bloomberg) — Harvard University Professor Martin Feldstein, who warned almost two decades ago that the euro would prove an “economic liability,” said Greece’s austerity plan will fail and the country may quit the single currency to fix its fiscal crisis.

“The idea that Greece can go from a 12 percent deficit now to a 3 percent deficit two years from now seems fantasy,” Feldstein, an adviser to U.S. presidents since Ronald Reagan, said in a March 13 interview in Geneva. “The alternatives are to default in some way or to leave, or both.”

Bailout? Professor Feldstein says Greece’s only options are DEFAULT, leaving the EU, or BOTH.

But what would any of this matter to the pump-monkeys on Fraud Street? Today’s so-called Greek rescue package is the 6th? 7th? 17th or 27th? I have lost count. But no matter, another unfounded rumor is just fine with the computerized trading from Goldman Sachs and JPM. There are no shorts left to stop it but there are no buyers other than the computers either: each day is governed by ridiculously low volume and no volatility whatever, which is a sign of no/few new buyers.

The trend is up so you do not want to short this market; however, it is so abnormal that I believe it could (not will) suffer a radical drop if the tensions with China increase over currency manipulation, a-la the 1987 market meltdown and the German Mark.

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The following has nothing to do with the article or author above:

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One of my well respected friends sent this along to me and I in turn must pass it along to you as I think it is a great video.  He discusses the outlook of Gold, Silver and Platinum.  Before you watch this video, or skip over it because you don’t trade these commodities, let me share with a few things.  You do not need to be a futures trader to trade commodities.  If you trade forex you can likely access these commodity markets through you forex broker in the form of a CFD (about half way down that page you can find some introductory info on a CFD and what it is).

ALSO, if you are a stock trader you can expose yourself to Gold and Silver through ETFs which trade on the stock exchange.  I regularly trade GLD (Gold ETF) and SLV (Silver ETF).  There are so many ETFs which mirror other instruments, so if you have ever thought about getting into trading any of these instruments but didn’t know how maybe that will help you out.  Fire me an email if you got more questions.  But enough of what I got to say – back to the video.

Brad Stafford has a great new video for you. I’m sure many of you read that title and your mind went in the gutter, but today he’s going to show you a whole new meaning for this acronym and how it applies to gold, silver, and platinum.

These three markets have a lot of volume, government implications, and technicals lining up for potentially great trades. Gold makes a record high, then pulls back. Silver is inching towards an all-time high level and platinum is making people rethink their decision to go with a white gold wedding band.

Where do you stand in these markets and maybe more importantly, where should you stand?

Find out what W.T.F. really stands for and what does it have to do with gold, silver, and platinum?

You’ve got to watch the video to find out:

http://www.ino.com/info/503/CD3784/&dp=0&l=0&campaignid=3

Hope you enjoy.

Cory Mitchell, CMT

-Please read the Legal Disclaimer page.

If you’re still losing money trading Forex, there’s a very good
chance it’s because you’re “guilty” of following at least one
part of the Forex “Failure Formula”.

Here’s a hint:

I????????? Method +
No ???k M????????? +
F?????????? Analysis +
T??? = POOR

Can you guess what the components are?

It’s based on years of observation & research into what
separates the losing traders from the ones that consistently
have an edge in the markets…

-and if you trade with ALL 4 parts of the formula, whether
intentional or not, then failure is a near certainty.

But these 4 “sins” are easy to avoid once you understand the
“formula”.

It’s explained in this short video story:

http://www.customforextrading.com/y/?i=1083859&u=3&l=f15

Happy Trading,

Cory Mitchell, CMT
p.s. So… are you guilty? Watch the story & find out:

http://www.customforextrading.com/y/?i=1083859&u=3&l=f15

———————————-

-Know your risks when trading. Please read the Legal Disclaimer page-

So it is coming up to Christmas, the market have been a little slow…so give yourself a treat, a free treat, and watch a free seminar on Market Wizards.  Visit the link and you have access to the video.

Watch the Market Wizard Insight seminar for free here:
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And of course, check back in a few hours and my nightly EUR/USD will be posted as well.

Have a great (rest of the) day!

Cory Mitchell, CMT
Chief Market Strategist
-Know your risks when trading. Please read the Legal Disclaimer page.

Hello all, hope you fared OK in the market moving news this morning.  Volatile session!

But I gotta back to the markets, and don’t have a lot of time, so I will get straight to it.  I have been posting about the upcoming release of the ultimate forex training…

This message has 2 ways for you to get your hands on some killer, premium COMPLIMENTARY Forex training…

…PLUS, a brand new “live”, step-by-step Forex trade made during breakfast (I know, sounds weird, right?), all captured on video…

>>> #1 <<<

35+ year trader Bill Poulos is giving away the first copy of his complete Forex Income Engine 2.0 home study course PLUS he’s also including 8 weeks of semi-private coaching — but this contest ends on MONDAY.

To be considered for the big giveaway, it’s easy – all you need to do is spend 15 seconds to post a comment on his news site here:

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(BTW, in the past, Bill has actually given away more than just 1 copy of his course… I don’t know that he’ll do that this time, but I’m betting he will, so your odds of getting one are probably better than you think.)

>>> #2 <<<

When Bill releases his Forex Income Engine 2.0 course next TUESDAY, December 8th, he just announced this bombshell –

* He’s going to be giving away 8 weeks of complimentary semi-private COACHING to all his new students who join him.

Frankly, I’ve never seen anyone do that before… and it wouldn’t surprise me if you don’t ever see it happen again.

8 weeks of step-by-step “hand holding” with a team of pros can be downright EXPENSIVE if you can even find it… and Bill’s just giving it away to show you how serious he is about helping you succeed.

For more details, see his new video here:

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>>> #3 <<<

Finally… for those of you wondering if Bill’s “Flexible Forex” training videos work against the unknowable “hard right edge”, I think this video will answer that question:

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In it, you’ll see Bill make a live trade during breakfast, before his day even begins, in less than 20 minutes.

You will definitely want to take notes on his approach. ESPECIALLY how he “gracefully exits” the trade.

It’s a keeper.

Happy Trading,
Cory Mitchell, CMT
Chief Market Strategist
-Please read the Legal Disclaimer page.

p.s. Don’t forget… this is IMPORTANT… even if you have no intention of joining Bill next week as one of his charter students, MAKE SURE you watch all his complimentary training videos. They teach more “what works now” Forex tactics than many courses you’d have to PAY for. See them all here before he takes the training videos offline next week:

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Hello all, hope this trading day is going well for you.  I have been posting videos over the last couple days about the Forex Income Engine 2.0.  Well, I got more great news for you!….

It was supposed to be a surprise for you at the end of this special 4th Forex video that Bill Poulos just released…

-but I didn’t want you to miss out on this brand new announcement:

For the first time ever, Bill is going to include 8 full weeks of semi-private coaching exclusively for the group of traders who join him when he opens the gates next Tuesday for his Forex Income Engine 2.0 home study training course.

See the details here:

http://www.flexiblefx.com/y/?i=1083859&u=2&l=f84

So why is Bill doing this?

Here’s what I think… if you saw his Trader’s MIND Map that he revealed last week (if you missed them don’t worry, you can watch all 4 videos which have been released so far via the link), then you probably saw how passionate he is about helping as many traders as possible become what he calls an “Independent Master Trader”…

-so by holding your hand, so to speak, after you get his home study course, for a FULL 8 WEEKS, Bill will be doing everything
he can to get you into his “M” quadrant, that of an Independent Master Trader, as quickly as possible.

—————————–
BUT HERE’S WHAT I’M AFRAID OF
—————————–

I think this coaching component is awesome, but here’s what I’m afraid of…

Because he’ll be adding on what essentially amounts to 2 months of semi-private coaching, I think Bill will be forced to further
limit the number of traders he lets into the program next week.

Now, he hasn’t officially announced any limits yet, but it just makes sense, and I think he’ll be forced to do this.

So as a personal “heads up” to you, if you’re intrigued by any the complimentary “Flexible Forex” training videos I’ve sent you
this week, then make sure you check out Bill’s latest 4th video, and pay close attention to what he says about how to get into
his program next week, or else it may close before you know it.

Here’s his 4th video, which gives you a LOT more detail on what’s going on:

http://www.flexiblefx.com/y/?i=1083859&u=2&l=f84

I’ll let you know if he releases any more training videos or updates. But in the meantime, if any of this piques your
curiosity or interest, get ready for the special, limited release of his program next Tuesday, December 8th, at 10am
Eastern. It’s going to be exciting.

Happy Trading,
Cory Mitchell, CMT

p.s. You still have time to get in on Bill’s Forex Income
Engine Giveaway, too! He’s going to giveaway the first copy
of Forex Income Engine 2.0 to one lucky trader this weekend.
You still have time if you enter the giveaway right here:

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Wouldn’t it be nice to know tomorrow’s trading range…today!  Well, we can forecast it, and I personally use a method for predicting tomorrow’s range in certain stocks and currency pairs.  These videos will tell you how you can come up with your own forecasting methods to improve entry and exit points and to trade with the odds.

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Enjoy and have a great night or day trading!

Cory Mitchell, CMT

Wow, I can’t believe it is December already.  Oh well, nice weather here where I am so I can’t complain

Relatively calm day on Monday for the pair as not only did it stay within the range mentioned in yesterday’s post, it  only moved about 100 pips.

There are short term trades in here, but ultimately this remains a range bound pair.

Resistance is at 1.5040 with a move beyond that indicating a move to test swing highs at 1.5080.  Targets and resistance beyond is at 1.5100, 1.5120 and 1.5140-1.5150.

Minor support is at 1.5000 with more substantial support just below recent swing lows at 1.4970.  Support beyond is at 1.4950 and 1.4920.  While a move below this is not highly probable, targets beyond are 1.4890, 1.4870 and 1.4840.

Cory Mitchell, CMT
Chief Market Strategist
-Know your risks when trading. Please read the Legal Disclaimer page.

My friends over at INO are currently offering 4 free online video seminars from master traders via the link below.

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Some strength in early trading as the the pair moved above minor resistance at 1.5020.  There is a resistance area between 1.5060-1.5100 and so far that level has held, as the pair currently trades at 1.5057.  Beyond 1.5100 is resistance at 1.5140.  A break beyond 1.5150 would indicate another swing higher.  With the average daily range sitting around 130 pips it would require a beyond average volatility day to move beyond this former high.

Support is at 1.5000, 1.4970 and 1.4950.  If needed, further support is at 1.4920.

Keep an eye on the US session, with the holiday last week the US session could be lively, although there is little in the way of economic data due out today.

Today’s action is expected to be contained with the range which is visible on the hourly chart.

Cory Mitchell, CMT
Chief Market Strategist
-Know your risks when trading. Please read the Legal Disclaimer page.

My friends over at INO are currently offering 4 free online video seminars from master traders via the link below.

Find Your Free Seminars here.

I was going to not post tonight, but given the sharp downward movement in the EUR vs. the USD I thought I should post at least a few comments.

Right now the pair has fallen back and is within the former range that we broke out of yesterday – it is below 1.5000.  Some sort of pullback was likely, in fact a large percentage of breakouts pull back to their breakout point.  On the hourly chart we are above the last swing low, still indicating short term strength.  And just as reduced volume had to be taken into account on the breakout, the lower volume has be considered on this slide.

Friday is a shortened session for the US markets, and can again mean sharp movements due to reduced liquidity.

Support is the lows of the recent swing at 1.4935.  The long tail here represents aggressive buying off this level.  Support beyond is at 1.4920 and 1.4890.  A move below this would indicate likely movement to the low of the range at 1.4800 with support along the way at 1.4870 and 1.4830.

Renewed upward pressure is not really present until a move back above 1.5030.  Targets/resistance beyond is around 1.5060, 1.5090, 1.5110-1.5120 followed by Wednesday’s high at 1.5145.

Cory Mitchell, CMT
Chief Market Strategist
-Know your risks when trading. Please read the Legal Disclaimer page.

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