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It’s interesting to me that the USD/JPY is retreating so swiftly right now, in light of the almost perfect tag of the 61.8% Fibonacci line, marked below with an arrow. Yen weakness has, of course, been hugely responsible for equity strength lately. He that lives by the sword, dies by the sword.
Sigh. It seems that if I dare venture out from beyond by tiny little burg, disaster strikes. Back in 2011, a volcano in Iceland kept me stuck in Paris for a couple of unexpected weeks. Now, here on the East Coast, even though the storm passed two days ago, it has thrown the entire U.S. airline system into disarray. I’m stuck here until late Wednesday night. (more…)
Ariad Pharmaceuticals got firedbombed this year, losing about 90% of its value. It has bounced heartily since its bottom, but judging from the Fibonacci retracement levels, I think the bounce might be nearing its end. This is a fairly high-risk trade, but I plan to enter a small short position on Monday morning, assuming I can find the shares.
