Bank of Australia Hikes Rates

[rffrydr]

Bummer on the metals. Record leveraged Aussie "selling on fact."
_________________
Today is the Tomorrow you worried about Yesterday!

[arco]

Hello rffrydr

Wheres do you see your approx target on the short ?

regards - arco

[rffrydr]

That's not a symetrical triangle--that's a head-and-shoulders top--I hope.

Been small short since 76.50 in Sept and doubled up on the rate hike last week. The sell-on-fact seems to be working (unlike the GBP which lasted only a day). Record COT longs but holding well in face of yesterday's metals puke. Probably related to same PBOC news working the greenback.

Despite this great commodities run it interesting to see both the Aussie (earlier) and the Kiwi beset by a negative balance of trade. If the rally continues it will be driven by japanese newfound appetite for risk, I think. Setting stop on half at last week's highs.
_________________
Today is the Tomorrow you worried about Yesterday!

[arco]

Hello Henry

I made a suggestion on 5th Oct to buy Aud.Usd circa .7450

This has proved to be a very nice trade, but we havent quite reached the target I set.



Looking at the longer term chart there is always the possibility of the Symmetrical Triangle following through and taking this higher.



Interested to hear your views regarding this cross in the future.

Regards - arco

[HenryTo]

Western Australia pulling the whole nation from an economic standpoint (+14% in GDP growth). The two most populous (and "new economy") states of New South Wales and Victoria are set to tip to recession at any time now:

http://www.abc.net.au/pm/content/2006/s1786043.htm

Labor in countries such as Australia is nowhere near as flexible as the U.S. or as some folks think. My guess is that this was the last rate hike.