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Jay Norris Video Commentary |
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Monday, 15 September 2008 |
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Jay Norris Video Market Commentary Welcome to Jay Norris' Forex Trend Maps. Every Monday, Wednesday and Friday Jay will give a recap of the Forex markets. For more information, please contact Jay at: Local: 312-896-3986 Toll Free:1-800-971-2154
Click on the link below to view today's charts and hear Jay's analysis. https://admin.acrobat.com/_a797306525/p55656790/
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Pattern, Price & Time Daily Analysis |
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Monday, 15 September 2008 |
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ENERGIES October Crude Oil is feeling selling pressure overnight as damage from hurricane Ike looks as if it did not cause any significant damage to oil structures. Talk is that the U.S. is going to provide as much help as possible to avoid a shortage in the crude market. Given the weakness in the U.S. Dollar, it is just a matter of time before traders begin to buy crude oil as a hedge. Do not get aggressively short at current levels. Aggressive traders should look for a place to get long.
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FINANCIALS, EQUITIES and CURRENCIES |
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Monday, 15 September 2008 |
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FINANCIALS The December Treasury Bonds and December Treasury Notes are rallying sharply higher in a flight-to-quality rally because of three major events affecting the financial markets overnight. The first major event is the filing of bankruptcy by Lehman Brothers. The second event is Bank of America’s buyout of Merrill Lynch. The third event is the selling of major assets by AIG.
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Dollar Weakens on Potential Rate Cut by Fed |
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Monday, 15 September 2008 |
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Traders largely ignored the Lehman news on Friday and returned their focus to the U.S. economy. On Friday the U.S. reported weaker than expected PPI and Retail Sales. The Retail Sales Report in particular had the greatest influence on the Dollar as traders perceive the consumer as the best indicator of the economy.
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