November Super Friday

It is Super Friday time again, the first Friday of the month when the US government releases the Non-Farm Payroll numbers. This is also known as the change in unemployment for the month of October.

The Labor Department announced that there was a net loss of 190,000 jobs in October. This is the 22nd consecutive month that the US labor market has shrunk. The unemployment rate rose to 10.2%, a 26 year high.

However, as sobering as those numbers are, the biggest news of the day came from Washington. President Obama signed into law a bill to provide up to 20 additional weeks of jobless benefits to unemployed Americans and extend the $8,000 tax credit for new homebuyers into the middle of next year.

The closely watched legislation will extend jobless benefits in all states by 14 weeks. Those that live in states with unemployment greater than 8.5% will receive an additional six weeks. The proposal will be funded by extending a longstanding federal unemployment tax on employers through June 30, 2011.

As for the market, the trading was especially light for Super Friday and with minimal movement. The initial Non-Farm Payroll numbers had a positive impact on the US dollar, but the President's bill and its impact on the economy had a negative impact. By the end of the day, the currencies were mixed again.

The pound gained slightly on dollar, the euro and swissie lost a little ground. The yen was the big winner gaining over 75 pips on the dollar.

I did 24 new trades today, closing 18 winners including 3 older trades, and 0 losses. The tighter intervals left additional trades open on the fringes of the intervals. The net pips today is +278 pips, or 0.64% gain.

For the week, the net pips is +1288.3 pips, or a 2.91% gain.

Here are the daily stats for Friday, November 6, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6578	1.6633	1.6516	1.6610	117
EUR/USD	1.4870	1.4913	1.4813	1.4845	100
USD/CHF	1.0160	1.0200	1.0125	1.0170	75
USD/JPY	90.70	90.84	89.60	89.94	124
GBP/JPY	150.37	150.73	148.38	149.40	235

As for quick notes, there is still no news from SummerstreetFX. They have been really tied up with other matters. Also, October statements will be sent out this weekend.

Stay tuned for more action next week. Have a great weekend.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

A Round of Dojis

The currencies had good movement today, but the net effect turned out to be dojis. The dollar initially gained ground during the Asian session. Then, during the European session it was up and down. However, during the New York session, the dollar lost ground again returning the currencies to very close to where the day began forming the dojis.

The pound did gain a little ground as did the Euro, but the swissie ended exactly where it began, while the yen was 1 pip away.

The good up and down action during the day was good for me. I did 40 new trades today, closing 32 winners including 3 older trades, and 0 losses. The net pips for today +566.2 pips, or 1.14% gain.

Tomorrow is Super Friday again, so it should be interesting. The forecast is lower unemployment numbers which should be good for the dollar. Another announcement looks to be positive for the pound, so it may be another up and down day.

Here are the stats for Thursday, November 5, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6551	1.6633	1.6465	1.6580	168
EUR/USD	1.4860	1.4916	1.4810	1.4870	106
USD/CHF	1.0159	1.0192	1.0131	1.0160	61
USD/JPY	90.71	90.84	89.98	90.70	86
GBP/JPY	150.14	150.56	148.51	150.39	205

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Dollar Slides Again

The dollar continued to lose ground across most of the currencies, with the yen being the exception. It was an active day for the markets, with most of the action during the first half of the European session. It then stayed pretty quiet until the interest rate announcement by the Fed. It bounced around back and forth for more than 30 minutes, although the rates remained unchanged.

All of the currencies had pretty big movements, much larger than normal. The euro moved more than twice its normal interval. The swiss franc also moved about twice its normal interval.

I made 22 new trades today, closing 17 winners and 1 loss. The net pips is +273.6 pips, or 0.53% gain.

Unfortunately, I did not get an update from Summerstreet yet.

Here are the daily stats for Wednesday, November 4, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6436	1.6595	1.6399	1.6551	196
EUR/USD	1.4722	1.4907	1.4701	1.4860	206
USD/CHF	1.0258	1.0276	1.0126	1.0160	150
USD/JPY	90.31	91.30	90.03	90.71	127
GBP/JPY	148.45	151.25	147.77	150.14	348

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Getting Back in the Swing

After the extended time off and the trip to Boston, I eased back into trading. The currencies were mixed again today. The pound gained a little ground on the dollar; the euro, yen, and swissie lost a little ground to the dollar.

Feeling a little rusty, I did only 11 new trades today, closing 10 winners and 1 loss. The net pips for today is +170.5 pips, or 0.31% gain.

By the way, I have not received any news yet from Summerstreet regarding the partnership. I expect some news tomorrow. I have scouted a couple locations for an office nearby.

I should have account statements out by the end of the week. I apologize for the delay.

Here are the daily stats for Tuesday, November 3, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6406	1.6453	1.6259	1.6432	194
EUR/USD	1.4775	1.4809	1.4625	1.4722	184
USD/CHF	1.0214	1.0336	1.0194	1.0257	142
USD/JPY	90.19	90.57	89.86	90.32	71
GBP/JPY	147.98	148.54	146.35	148.42	219

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

New Month With New Help

As mentioned on Friday, SummerstreetFX and the Titan Group are entering a partnership. This should help both parties in a lot of ways. It should help attract clients to both companies. SummerstreetFX has some neat online tools that should help clients stay in touch with their account values. Some of Summerstreet clients accounts will be traded by the Titan Group, maximizing their returns. Summerstreet is also looking to open their first office in the Chicago area. More details will be coming soon.

I did not trade again today. I was busy lining up details for the partnership and the new office, plus my regular Monday networking meeting at CLC. Tonight though, I will be back at it.

I am also working on getting the October monthly statements out. There is an accounting matter I'm trying to get clarified with Summerstreet, so there has been a little delay with that.

However, here are the daily stats for Monday, November 2, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6372	1.6476	1.6327	1.6405	149
EUR/USD	1.4711	1.4843	1.4682	1.4774	161
USD/CHF	1.0260	1.0277	1.0164	1.0214	113
USD/JPY	89.51	90.68	89.18	90.20	150
GBP/JPY	146.53	148.89	145.76	147.97	313

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Big Update

I had a very successful trip to Boston. In short, SummerstreetFX wants to partner with The Titan Group. They do not have a presence in Chicago and would like to start one. We will begin working out the details on Monday. There will be more info coming next week.

As far as the market is concerned, the last couple days have been very active. On Thursday, the quarterly GDP announcement came out that was very positive. This had a negative effect on the US dollar for these reasons: the market interpreted this as the economy is recovering, businesses would start spending more money oversees, and resume taking more risks. The dollar lost considerable ground to the other currencies except the yen.

On Friday, the markets all reversed themselves from the previous day's movement. Reflections revised the viewpoints of the GDP numbers, that they are being propped up by the government's stimulus program and not likely to have staying power. The US dollar gained back the ground it lost the day before.

Since I was in Boston meeting with SummerstreetFX, I did not trade either day.

Here are the daily stats for Thursday, October 29, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6370	1.6602	1.6336	1.6545	266
EUR/USD	1.4707	1.4857	1.4682	1.4821	175
USD/CHF	1.0269	1.0285	1.0167	1.0189	118
USD/JPY	90.74	91.60	90.23	91.39	137
GBP/JPY	148.53	151.58	147.63	151.22	395

Here are the daily stats for Friday, October 30, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6544	1.6576	1.6407	1.6429	169
EUR/USD	1.4821	1.4856	1.4702	1.4707	154
USD/CHF	1.0191	1.0274	1.0156	1.0261	118
USD/JPY	91.40	91.56	89.91	90.07	165
GBP/JPY	151.21	151.70	147.62	147.96	408

Have a great weekend!

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Dollar Strengthening

The dollar continued to strengthen against the Euro and Swissie, the pound finished nearly unchanged, while the yen strengthened against the dollar. If the economic forecast for tomorrow's GDP announcement is true, then the dollar will continue its trend.

The time off this week from trading has allowed me to network more. Today's networking lunch went well and several more people are interesting in the fund. I did not trade again today.

I'm very curious how my meeting in Boston will go tomorrow. Because I will be gone, I will not post until after I get back.

Here are the stats for Wednesday, October 28, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6365	1.6464	1.6284	1.6370	180
EUR/USD	1.4802	1.4839	1.4690	1.4703	149
USD/CHF	1.0217	1.0276	1.0191	1.0269	85
USD/JPY	91.78	91.80	90.53	90.73	127
GBP/JPY	150.20	150.37	148.27	148.65	210

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com