Rhody Trader

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Well, AUD/USD has done some interesting things since my last look at it (AUD/USD: Look for Some Action Soon). I told you it was going to! (Same with GBP/USD - GBP/USD: Can You Say Consolidation?)

There was a little fake break higher as I’d expected. The bigger fake break was lower, though. It happened last week on the drop below 0.9350. Now the reversal higher is taking full force with the rate through 0.9600 and running.

Could this be a move to par? I don’t see any reason what not.

The GLD call worked out to perfection, though (Gold Looks Like It Should be Finding Support Soon). A couple weeks ago the market bottomed out right in the area I thought it would. Yesterday it crossed the $90 level which was my target for the rally. Today it’s running higher still. I can see $93 getting hit shortly.

I said NSIT could move down to $14 (NSIT Not a Buy Now, But Could be Soon). It did that and then some in the latter part of April. On a valuation basis there could be a buy argument made here, though earnings estimates have been lowered from where they were when first I looked at the stock.

I’m still waiting for LPHI (LPHI: Life Partners Could See 55 and Up) to do something.

Still waiting to see the S&P 500 do its interesting thing (Something Interesting is on the Way for the S&P 500).

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