The markets continue to be very turbulent as a myriad of issues continue to affect investors. This past week unlike the previous one was a very good week for the stock markets providing +3% gains across the board. The Fed meeting obliged traders to a massive short-covering, leaving those looking to profit from a market decline with losses.
The bond market whipsaw proving that he is not convinced that the Fed is going to lower rates soon. So, is it just a dead cat bounce or the beginning of a new strong rally?
The potential is set for a floating of the Chinese Yuan in 2007 according to some analysts, and those same analysts are worried about the ending of the Yen Carry Trade as a consequence. What will the USD do. Shall we expect a continued weakness or a rally?
The 5th week of competition was rather positive for Slovene competitors since 18 of them improved their gains as compared to last week, 21 were at the same level while 12 of them were worse off. Last week's winner Aleš consistently added gains throughout the week with CFDs on oil companies and ended it at 134,96%, which is about 20 % more than at the end of last week. He regained the overall lead on friday after Tibor Varga III from Hungary fell from 149,37 % to 54,70 % in a single day.
There were a few changes in the Slovene rankings from 2nd place on this week. Borut2 fell from 2nd to 5th after some bad decisions on the Forex market, while Ivan, 3rd after the end of last week, is no longer in the Top 5. A new entrant to the Top 5 is Sandi, who ended the week at number 2. He made his profit on CFDs on companies in the petrochemical and raw material sectors.
In Hungary Tibor Varga on his account III was leading the league, even being first on the International level for one day by his astonishing gain of close to 150%. Long in Silver from the very first date, he continuously increased his position as the market was moving to the upside. The change came on Friday when Silver started its slide, by late night he was forced to the third place by giving back most of his gains.
Schmidt Tamás on the top again of the Hungarian league thanks to his long GBPCZK and GBPHUF. Was not really active on the second half of the week but sometimes it pays off to stay on the sidelines. He is second at World level.
Doleschall György on his BUX-Plussz account III is currently on the fourth place in the Hungarian league. Still holding his long EURTRY and short USDJPY, Doleschall is patiently waiting for his next move. As he said before patience is a part of his strategy.
On the fifth place stands Avis Worldwide Llc with his black box trading strategy. Trading the majors plus XAUUSD and the Brent he is slowly improving.
Appearing on the third place at World level is the Portuguese Manuel Leguinha and new leader of the Portuguese league. Manuel Leguinha has most of his gains in open positions in CFDs of AXA, Barclays, BP, Cadbury, Costco Wholesale, Friends Provident, Glaxo, HSBC, Meritage Homes and Mitsubishi, but most of the gains come from Barclays, BP and Cadbury. The previous leader Nelson Moreira dropped to third place losing with the increased in oil prices. Nelson Moreira has only traded crude futures since the beginning of the competition. On the second position is now Carlos Graça with gains of 29.75%.
