Phew, have been busy for several days after purchasing new notebook from Indocomtech last Saturday, Â finally decide to buy new one after long time using desktop, had really bad experience after my Sony Vaio broke down and cannot be repaired. (omg the purchase price was Rp. 16M)
Well let’s get back to business, this week I have been trading only gold and still waiting for chance in equity market. but looking at the development of the situation in Europe i don’t expect we have seen the bottom yet. Here is the important thing that happen while I’m not present;
- Greece kicking their leader down, personally i didn’t think papandreau the reason why they stuck in bad situation, his quality is not bad, but he is just in really impossible situation to reverse everything. My though that this is done by opposition and mainly politic, but hey your country already in bad position dude….. get the bail out, cut expense and have shame because most of you want to live in high standard but actually cannot afford it.
- Italy, ups the bond yield appreciate in really extreme manner, almost breaking psychology limit at 7% jumping from around 5-6%. Certainly not good and I see EUR/USD falling from as high of 1.3800 to 1.3580 in just several hours. Might as well shorting the EUR/USD, this might be true if today bond auction goes awry.
- I hear rumor that Swiss gov want to intervene. What they do is buying dollar, certainly interesting to see USD/CHF shooting up again, or enjoying bearish ride in gold.
- NFP result last week not really encouraging, but the echoing sound of QE3 might be good to hear for us, too bad for occupy wallstreet member, my sympathy but I enjoy the casino because I’m not working in their country so forgive me to enjoy the casino.
- Indonesian market, inflation cooling down and BI cutting rate again, this time it was 50 bps to 6%, this is positive for the market as far as my assumption saying “inflation under control”, BI predict inflation won’t be higher than 5% this year.
- I am waiting to sell everything if they go up, eyes on EUR/USD and GOLD and maybe buying some puts for shares.
Taking account to the situation, I assume the market still weak and might correct further down, waiting for chance in December to buy this market and ready for end year rally.