Hi there 
I hope you are having a great weekend. This week is not as busy in terms of fundamentals as it was last week…but we do have a few very good reports.
Let’s first review what happened on Friday. We had only one news trade, and that was non-farm payroll. It came out worse than expected, but it didn’t hit my trigger. In addition to that, we also had a conflicting revision. It was an interesting and very educational report to trade, with all the revisions. You can watch live trading video of this report by clicking here: http://forexdiamonds.com/performance.htm
Rob Grespi from kingforexsignals.com did well on Friday, making +64 pips total, which brought his performance for February to +176 pips total. The highlight of the day was the fact that he heard that non-farm will come out worse than expected, and he saw a bunch of large orders coming in right before the release. He gave a long on GBP/USD 2 minutes before the number was actually released. That trade made a total of over 50 pips, and he took some profitable trades in addition to that. I suggest seeing some of his live trading videos by going to this link: http://www.kingforexsignals.com/robtrades0207.htm
Let’s now talk about what’s going on tomorrow. We have two reports coming out that are somewhat important.
1. Monday, February 5th, 2007 (4:30 am New York Time) UK
We have UK Services PMI coming out. This indicator measures services industry in the UK. Services is about 70 to 80% of UK GDP, however generally speaking this report is not as important as manufacturing PMI. It’s expected that this number will come out at 60. If it comes out reading 57, it would be bad for the pound short term, and I may possibly go short on GBP/USD. If it comes out at 62 or higher, it would be a very healthy reading above 60, and I may possibly go long on GBP/USD. It make take 20-25 minutes for the move to fully manifest. I am expecting around 30 pips on this, if my triggers are hit.
2. Monday, February 5th, 2007 (10:00 am New York Time) USA
Then we have ISM Non-Manufacturing report coming out of the U.S. This report is also tracking the services industry in the US, and services is also a major contributor to the GDP. It’s not nearly as important as its sister report ISM Manufacturing, but it’s also worth watching. It’s expected that Non-Manufacturing will come out at approximately 57. A reading of 55 or lower would probably be bad for US dollar short term, and I may possibly go long on GBP/USD. A reading of 59 or higher would be a very healthy reading and therefore good for the dollar, so I may possibly go short on GBP/USD. If my triggers are hit, I would also expect a move of around 30 pips on this one.
That’s all for tomorrow :) Remember…if you wanted to purchase Secret News Weapon, I will be taking few more people tomorrow. So if you wanted a chance to get in, please make sure you are on the waiting list, and wait for an email tomorrow Monday, February 5th, 11:00 pm NY Time. You can join the waiting list here: http://www.secretnewsweapon.com/buyit.html
To Our Success!
-Felix Homogratus
1617 Broadway St., Suite 1001
New York, NYÂ 10002
USA