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Paris, France
Independant trader
Interests: technical analysis
Recent Activity
Laurent is now following Sylvain Vervoort
Nov 2, 2013
via Continue reading
Posted Dec 8, 2009 at Laurent53's blog
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Posted Dec 8, 2009 at Laurent53's blog
you are so right when you say "this year has been too vicious to become Mr Nice Guy ,so don't expect the obvious ! Expect the unexpected !" but I don't think there is enough gas left to push as high and as far as november-december /1125. Since we are speculating on the future date of the reversal, mine is Oct.22 :-)).
1 reply
Hi Dave, to answer your last question, here are two books worth reading that will help clarify the big picture: (i) "Intermarket analysis" by John Murphy and (ii) "the wave principle" by Bob Prechter. the first one explains well the nature of the various relationships that exists between different financial markets such as stocks, treasuries, gold, the dollar etc.. the second is providing an detailed explanation of the market's structure. it explains for instance why the dollar sell off is probably nearing a bottom and why stocks are probably topping. good reading !
Toggle Commented Sep 8, 2009 on SPY : The birth of Darth Vador ! at ETF CORNER
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Fully agree with you on this one. Everybody keeps talking about the dollar slide but I am totally contrarian. I’m going to wait patiently that the green back completes its five waves down, jump on board and short the euro like mad. There is a nice bearish rising wedge on the weekly chart and I will probably use the breakout as a confirmation. It’s an important trade in my opinion because it will kick start a lot in various financial markets. stocks will fall simultaneously, bonds will rally, gold and oil will fall, the yen will rally and so on… I am really waiting for that trade to start. It will be a good time to make some money 
Toggle Commented Sep 4, 2009 on FXE : Bearish on the Euro/Dollar ! at ETF CORNER
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No, I actually would not buy DBA at this point because I see too much weakness in it. The breakout point at 24.75 has been decisively broken with a gap down. This should not have happened. Buyers should have appeared at this level to support the stock. They did not. My RSI and ROC are showing no signs of reversal yet. RSI (14) peaked at 60 which is truly a bear market topping level. DBA looks to me like a falling knife. the short term trend is still down and no sign yet of reversal. Furthermore, the risk to reward ratio is lousy. Too risky for me. The technicals are not there yet. I would feel more confortable buying it at support level (23.50) with a super tight stop.
Toggle Commented Sep 4, 2009 on DBA : Would you support them ? at ETF CORNER
1 reply