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ISM Report - Did chicago PMI steal the ISM's thunder?

  • #21
  • Dec 1, 2006 8:29am Dec 1, 2006 8:29am
I have seen these predata spikes pullback like this before
Profit is where readiness meets Opportunity
  • #22
  • Dec 1, 2006 8:35am Dec 1, 2006 8:35am
i wanna see bad ism data and see Euro close over 3300 today that would be wonderful oh so wonderful maybe have GBP go to 9800
Ghost Swoopen in for my pips while no one is lookin !!
  • #23
  • Dec 1, 2006 8:35am Dec 1, 2006 8:35am
There's another index called the Business Week production index, which has about a 70% correlation to the ISM. It shows that production has declined for 9 straight weeks and is at it's lowest level in over 2 years. There are several other clues for how the ISM might look; inventories are building and employnment in the manufacturing sector is down.

If it does turn out the ISM is down to around the 50 level or even below, it should be a good oppurtunity to get long in the Eur or GBP. The GBP did hit 9750 last night and got strongly rejected, so it's possible that action could get repeated. Let's see how it goes.
  • #24
  • Dec 1, 2006 8:40am Dec 1, 2006 8:40am
Quoting NewstraderFX
There's another index called the Business Week production index, which has about a 70% correlation to the ISM. It shows that production has declined for 9 straight weeks and is at it's lowest level in over 2 years. There are several other clues for how the ISM might look; inventories are building and employnment in the manufacturing sector is down.

If it does turn out the ISM is down to around the 50 level or even below, it should be a good oppurtunity to get long in the Eur or GBP. The GBP did hit 9750 last night and got strongly rejected, so it's possible that action could get repeated. Let's see how it goes.
but it got rejected in asian session not the london session they just followed after what the asians did really and they are probably waiting for ISM as well
Ghost Swoopen in for my pips while no one is lookin !!
  • #25
  • Dec 1, 2006 8:45am Dec 1, 2006 8:45am
Yesterday the PMI came out earlier than expected...Where do you guys look for the number? I look at Bloomberg is there a website besides this calendar you guys look at? Also if its bad how far you think the EUR/USD and GBP/USD will go today? If its below 50...watch out right cause this thing could rally but its Friday so low volume right?
  • #26
  • Dec 1, 2006 8:50am Dec 1, 2006 8:50am
Quoting tremon333
Yesterday the PMI came out earlier than expected...Where do you guys look for the number? I look at Bloomberg is there a website besides this calendar you guys look at?
Merlin if u get the data early today you gonna record it here asap BUDDY ?
Ghost Swoopen in for my pips while no one is lookin !!
  • #27
  • Dec 1, 2006 9:04am Dec 1, 2006 9:04am
more thunder!!!
Relax and be happy.
  • #28
  • Dec 1, 2006 9:05am Dec 1, 2006 9:05am
Quoting Ghostpipper
Merlin if u get the data early today you gonna record it here asap BUDDY ?
we reported it as soon as it came out, did you get it in the actual release popup window?

btw, this one always comes out at 10am sharp.
Relax and be happy.
  • #29
  • Dec 1, 2006 9:08am Dec 1, 2006 9:08am
this gonna be a slow and steady ride like yesterday?
Ghost Swoopen in for my pips while no one is lookin !!
  • #30
  • Dec 1, 2006 9:09am Dec 1, 2006 9:09am
well i wouldnt fade it, thats for sure
Relax and be happy.
  • #31
  • Dec 1, 2006 9:11am Dec 1, 2006 9:11am
Quoting merlin
well i wouldnt fade it, thats for sure

lmao learned lesson Newstrader were we going 9800 or 9850?
Ghost Swoopen in for my pips while no one is lookin !!
  • #32
  • Dec 1, 2006 9:12am Dec 1, 2006 9:12am
ISM official just said that we should see readings below 50 for the next few months!!!
Relax and be happy.
  • #33
  • Dec 1, 2006 9:19am Dec 1, 2006 9:19am
Fed Funds is calling for a 2 rate cut by Q1-2007!!!!!

GBPUSD > 2.0000 by 2007?

In 1992, GBP had a crisis. 2006, its USD's turn.
  • #34
  • Dec 1, 2006 9:23am Dec 1, 2006 9:23am
Since the GBP/USD and EUR/USD are at overbought levels, don't we expect a retracement to at least get out of overbought levels before the move back up towards 1.35 and 2.0 respectively? Or do you see it just going up with shallow dips in between?
  • #35
  • Dec 1, 2006 9:23am Dec 1, 2006 9:23am
get to top of movement, how long today we were all expecting bad numbers so..... ?
Ghost Swoopen in for my pips while no one is lookin !!
  • #36
  • Dec 1, 2006 9:25am Dec 1, 2006 9:25am
Quoting Ghostpipper
get to top of movement, how long today we were all expecting bad numbers so..... ?
requote

yesterday it took 2 hours to get to top of movement i wonder how long today will take since we all expected bad numbers this time?
Ghost Swoopen in for my pips while no one is lookin !!
  • #37
  • Dec 1, 2006 9:34am Dec 1, 2006 9:34am
BK i think we could see 2 by market close next friday
  • #38
  • Dec 1, 2006 9:52am Dec 1, 2006 9:52am
wahoo 1.98 66 pips on multiple trades in 1 hour
  • #39
  • Dec 1, 2006 9:55am Dec 1, 2006 9:55am
Quoting merlin
more thunder!!!
And how!

Hope everyone had a great week.

Time for lunch and a little reward.
Profit is where readiness meets Opportunity
  • #40
  • Dec 1, 2006 10:48am Dec 1, 2006 10:48am
Guess there wasn't any thunder stolen after all...really a dream trade...but the important point is why guess about whether the thunder was stolen of not...all u gotta do is be ready...hope everyone had a good one!!
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