Strong Dollar Policy and Other US Macho Nonesense
12/08/2004
As the Dollar plunges to lows against Sterling and we all head to New York, the US government says to it wants a strong Dollar policy. Yup.
And that's as likely to happen by them saying it as me saying I want world peace and that happening. Anyway, what macho American would ever want a weak Dollar policy. That don't quite sound right does it?
For those into fixed odds betting who do 'one touch bets' - where you win if the price touches a certain level at any point in a specified period - eg if the £/$ touches 1.90 in the next 30 days - that is one of my favourite fixed odds trades.
Stocks? You want stocks? I'll give you stocks. Prudential at an entry above 448p with a target of 487p(recent high) ( a trailing exit at a 3 day low) and an initial stop-loss at 415p.
Antofagasta to continue lower with a short at entry below 1100p with an initial target of 1050p and then 1000p. BT Group with an entry above 203.5p with an initial target of 220p but exiting at any point on a 3 day low.
Rentokil with an entry to sell short at a price below 138.5p with an initial target of 120p. mmO2 entry above 119p, initial stop-loss at 114.25[ and a intial target of 130p, but with a trailing stop at a 2 day price low.
I know I am firing them off like a machine gun - but I'm on fire!
Value-Growth
On my value growth criteria which are based on stocks meeting revenue and profit growth and good value based on criteria such as price earnings growth, the following names come up. Remember they are for a 6 month outlook: White Young Green, DTZ Holdings, Dart.
Crazy Small Stock
These are high risk volatile stocks which could move sharply higher or move sharply lower in my view, but will almost certainly not stand still. Names on the radar include SCi Entertainment, Carr's Milling, Broadcastle, Northern Recruitment Group, Dewhurst.
I hope to see you there! Also, if you would like a free multi-media CDROM on 'Investing Better' posted to you then drop me an email with your postal address to alpesh@tradermind.com.
Spreadbetters
Spreadbetters and futures traders often look at hard and soft commodities. Here's my quick take on the action for the week ahead:
- Copper: down (called wrong last week as said up, but did say 'keep stops v tight').
- $/£: mixed and toppy (called mixed to toppy last week, yet it rose)
- Crude Oil: Down. Said last week, "Picked up last week. Looking for some upward moves before down again." - it fell last week
- Dow: Down (called down last week and was correct - very correct)
- Gold: Mixed to down (called Mixed to Up last week - right by me last week).
- FTSE 100: Mixed to lower (called mixed last week)
- Soyabean Oil: Down to mixed (called right last week as down.)
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