No trades.
Settlement price was 11,090.
October 23, 2010
October 21, 2010
Trades/Orders (End of 10/21/10 Session)
One trade:
Sold YMZ10 @11,148, covered @11,112; P&L: 36 points.
(11,164 was the session high)
Settlement price was 11,083.
New orders:
Buy YMZ10 @11,002, with 10,984 stop and 11,038 take-profit.
(Weekly PP pivot point is 10,994; daily S1 is 11,010; daily PP is 11,087)
Sell YMZ10 @11,148 with 11,166 stop and 11,112 take-profit.
(Daily R1 pivot point is 11,160; weekly R1 is 11,134; daily PP is 11,087)
October 20, 2010
Trades/Orders (End of 10/20/10 Session)
Two trades:
Sold YMZ10 @10,998, stopped out @11,017; P&L: -19 points.
Sold YMZ10 @11,048, stopped out @11,066; P&L: -18 points.
Settlement price was 11,063.
New orders:
Buy YMZ10 @10,952, with 10,934 stop and 10,988 take-profit.
(Daily S1 pivot point is 10,943; weekly PP is 10,994)
Sell YMZ10 @11,148 with 11,166 stop and 11,112 take-profit.
(Daily R1 pivot point is 11,142; weekly R1 is 11,134; daily PP is 11,023)
October 19, 2010
Trades/Orders (End of 10/19/10 Session)
One trade:
Bought YMZ10 @10,952, stopped out @10,934; P&L: -18 points.
Settlement price was 10,943.
New orders:
Buy YMZ10 @10,852 with 10,834 stop and 10,879 take-profit.
(Daily S1 pivot point is 10,849; weekly S1 is 10,883)
Sell YMZ10 @10,998 with 11,016 stop and 10,962 take-profit.
(Weekly PP pivot point is 10,994; daily PP is 10,955)
Sell YMZ10 @11,048 with 11,066 stop and 11,012 take-profit.
(Daily R1 pivot point is 11050; weekly PP is 10,994; order added 10/20 @9:30 am ET)
October 18, 2010
Trades/Orders (End of 10/18/10 Session)
Two trades:
Bought YMZ10 @10,952, sold @10,988; P&L: 36 points.
(session low was 11,938)
Sold YMZ10 @11,098, covered @11,062; P&L: 36 points.
(session high was 11,103)
Settlement price was 11,045.
New orders:
Buy YMZ10 @10,952 with 10,934 stop and 10,988 take-profit.
(Daily S1 pivot point is 10,954; weekly PP is 10,994)
Sell YMZ10 @11,198 with 11,216 stop and 11,162 take-profit.
(Daily R2 pivot point is 11,194; weekly R1 is 11,134)
The Horrors of Deflation
.
Fascinating (and horrifying) New York Times article on Japan's slow descent into economic miasma over the past 20 years.
An economy in the throes of persistent deflation sounds like a dystopic bizarro world where no one wants to buy anything because: why buy today something that will be cheaper tomorrow?
As a result, prices on everything are in a mad race to the bottom:
The psychological effects, individually as well as collectively, are devastating:
The effects on business are even worse:
I can't think of a better advertisement for Ben Bernanke's upcoming Quantitative Easing, version 2.0, than this article. Come to think of it, that may have been the intention.
Fascinating (and horrifying) New York Times article on Japan's slow descent into economic miasma over the past 20 years.
An economy in the throes of persistent deflation sounds like a dystopic bizarro world where no one wants to buy anything because: why buy today something that will be cheaper tomorrow?
“A new common sense appears, in which consumers see it as irrational or even foolish to buy or borrow,” said Kazuhisa Takemura, a professor at Waseda University in Tokyo who has studied the psychology of deflation.
As a result, prices on everything are in a mad race to the bottom:
There are vending machines that sell canned drinks for 10 yen, or 12 cents; restaurants with 50-yen beer; apartments with the first month’s rent of just 100 yen, about $1.22. Even marriage ceremonies are on sale, with discount wedding halls offering weddings for $600 — less than a tenth of what ceremonies typically cost here just a decade ago.
The psychological effects, individually as well as collectively, are devastating:
[...]the most noticeable impact here has been Japan’s crisis of confidence. Just two decades ago, this was a vibrant nation filled with energy and ambition, proud to the point of arrogance and eager to create a new economic order in Asia based on the yen. Today, those high-flying ambitions have been shelved, replaced by weariness and fear of the future, and an almost stifling air of resignation. Japan seems to have pulled into a shell, content to accept its slow fade from the global stage.
[...]nearly a generation of deflation has had a much deeper effect, subconsciously coloring how the Japanese view the world. It has bred a deep pessimism about the future and a fear of taking risks that make people instinctively reluctant to spend or invest, driving down demand — and prices — even further.
The effects on business are even worse:
Deflation has also affected businesspeople by forcing them to invent new ways to survive in an economy where prices and profits only go down, not up.
[...]
“Deflation destroys the risk-taking that capitalist economies need in order to grow,” said Shumpei Takemori, an economist at Keio University in Tokyo. “Creative destruction is replaced with what is just destructive destruction.”
I can't think of a better advertisement for Ben Bernanke's upcoming Quantitative Easing, version 2.0, than this article. Come to think of it, that may have been the intention.
October 17, 2010
Trades/Orders (End of 10/15/10 Session)
No trades.
(11,104 was session high)
Settlement price was 11,024.
New orders:
Buy YMZ10 @10,952 with 10,934 stop and 10,988 take-profit.
(Daily S1 pivot point is 10,950; weekly PP is 10,994)
Sell YMZ10 @11,098 with 11,116 stop and 11,062 take-profit.
(Daily R1 pivot point is 11,101; daily PP is 11,027)
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