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THE LOONIE WATCHER (Copyright 2006)

THE LOONIE WATCHER'S COMMENTARY FOR FEBRUARY 10, 2006














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THE LOONIE WATCHER’S COMMENTARY FOR FEBRUARY 10, 2006
















THE LOONIE WATCHER’S COMMENTARY FOR FEBRUARY 10, 2006

The market close on February 10, 2006, showed that the market conditions influencing the Loonie and the $USD are unchanged from our last commentary (Feb 6, 2006)

THE LOONIE

The Loonie continues to reflect a lack of buying interest, as shown by the price charts. Yesterday’s rally was easily erased today. The new low close shows further lack of interest in the Loonie. There have to be a few worried bulls going into Monday’s opening.

Continued weakness for the near term is forecast!

 

THE $USD

The $USD again showed it’s muscle, easily closing higher today (Feb 10,2006)

The short sellers, and the day traders were ambushed again by the commercials. Today’s price action left the shorts in a box canyon. Should the shorts run on Monday’s opening, the momo traders could be pulled in. The bait is placed. The momo traders are the quarry. There’s profits acoming from them there Mechanical System Traders.

 

SUMMARY

Canada has a new government, and a weakening economy.It’s a wild card to predict it’s response.

Meanwhile, back in USA, Bush has just signed a bill that put the liberals into a total spin. We have seen cuts in spending. With all the rhetoric from the liberal camp, an outsider would never know that the rate of spending increase was cut, not the absolute amounts. Some programs were hit hard, but net net, we’re still spending.

Bush made it very clear that European socialism is unacceptable in the US. The dollar is responding accordingly.

Well, It’s the weekend., with plenty of time for the markets to have a real accident before Monday’s open.

 

Wayne N. Krautkramer onlypill@cox.net

Http://onlypill.tripod.com/thelooniewatchercopyright2006bypitagorasinternacionalsa

 

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