Bullish Buy - FDP
Written on March 18, 2008 – 8:03 pm | by admin
I have been kicked in the teeth again lately. Perhaps I am too impatient to try and catch/time every market move. But the past two weeks have just been horrific on my account.
Today, the Fed cut rates (again) by 75 basis points. The USD is sure to continue to fall vs. every major currency (not today but in the medium-to-long term) as our central bank lowers rates while every other central bank (Australia, ECB) continue to either hold rates steady or raise rates.
One short-term bullish play I am looking at is the following:
FDP closed above previous resistance at 56 and is also in a bullish uptrend. By my calculations, it should be good for a 5 to 6 point move to the upside.
Tags: FDP