Data on Thursday showing signs of resilience in the U.S. labor market and weak German business sentiment boosted the dollar, which held its gains in early Asian trade. Signs of of a sound dollar and U.S. economy are good news for Asia's exporters, who count on strong demand for their products, and for investors, who have been nervously watching for any fresh omens of the U.S. economy slowing further.
A sliding dollar had devalued U.S. financial assets then, prompting funds to move into oil and commodities.Oil and other dollar-denominated commodities came under pressure after data showed U.S. jobless claims down sharply last week, boosting the dollar by more than 1 percent against a basket of major currencies.
Treasury Secretary Henry Paulson cited encouraging signs of progress in calming financial markets, which he said made it possible to turn more attention to measures aimed at stimulating a slowing economy.
Paulson said the Treasury was accelerating its schedule for distribution of tax rebate checks under a $152 billion economic stimulus package, sending out the first payments on Monday instead of in early May.
Tracking the Dow on Thursday,24/04/08.
9:30am--A small 15.0 points gap-up.Cheering the drop in jobless claims.The drop in new homes sales pulled the reverese trigger.
10:00am--A 'harami'signal, YouTube - Freddie Aguilar -- Anak - Filipino Karaoke ...get ready into the maternity ward.
11:00--yeah!the 'dragon-fly doji' (T)confirms.Open long position,get ready the diapers.
12:00noon--Broken the early session high ,noticed the parade of advancing nurses.Hang-on...babe!
1:00pm--The 'shooting star'--sell short position and close. (When A Child Is Born )
2:00pm--Now into the 2nd half,Ford Motor (F) unexpectedly posted a narrow profit and it's still pumping-up.Should I chase a long-position?I think NO...time to closing too short as any time now a profit-taking might happen since it's too wide above MAV.
3:00pm--Ha..the High side & the 'graveyard-doji'.Open a short-position,you're safe.
4:000pm--close position for the day.Two black drumstick at the final bell augurs well for a short-covering.
Its the Damn Cool Pics: San Fermin Bull Run Fiesta at Pamplona.Wall Street bulls will be taking to the streets of the Spanish capital.It's the breakout.