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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SBerglowe who wrote (5633)	10/7/1998 9:26:00 AM
From: Tom Trader	Respond to of 44573

Susan--re the Aussie, I don't trade it and so cannot offer any informed opinion. I notice that gold is up over $300 per ounce again and given that Australia is a major producer of gold, it might be a factor. I'll check around and see if I can pick up anything. Re the yen--the dollar has been sliding against the yen for a bit. The large move today is ostensibly because the the Japanese are taking concrete action to fix the banking problems or so they say. The decline in interest rates was supposed to be a factor -- but on the other hand we see funds pouring into the bond market and that should be a factor helping the dollar. You should be aware that I trade the futures on technicals--and my signals are based on a mechanical system--so I don't really pay much attention to the fundamentals per se. Not to say that the fundamentals don't matter because they do -- but one sees exaggerations in price action irrespective of the fundamentals -- and a technical approach can help ride these moves.