Welcome back Meta-Traders. It was a spectacular week in North America and world markets. This week's photo tells the story, blue skies and green grass.
We started the week with news that the world's #1 wanted terrorist Osama Bin Laden was killed in a raid in Pakistan by US special forces. The death of another human is not a cause for celebration under any circumstances. But this event gave a much-needed psychological lift to the American people because it showed that we will pursue our enemies to the far reaches of the world which sends a powerful message.
As for the financial markets the commodity bubble burst this week with highlights as follows:
- The Silver ETF SLV dropped a stunning 30% from its recent top
- The Gold ETF GLD dropped a modest 4% for the week, tame compared to silver
- The Oil ETF USO dropped 13% for the week
All this commodity deflation put a spring into the step of consumers and the economic recovery, which was being weighed down by rising energy prices. On top of all that, the non-farm payroll number came in higher than estimates and prior months numbers were adjusted upward showing good progress in the global economic recovery. All this good news sent the dollar bears into full-time retreat with the USD gaining nearly 6% against EUR for the week.
What did all the mean for our currency trading? It was a banner week with solid gains in nearly all systems. Let's do the numbers.
The screaming winner on the week was Atipaq Full Portfolio screamed higher gaining about 6% for the week and is now up about 38% year-to-date.
My personal favorite was Atinalla FE Live which went into the Non-Farm Payroll number short EUR/USD on all 3 embedded systems. Each position was modestly in profit until the NFP number came out and then wham! EUR/USD dropped about 150 pips in about 20 seconds Atinalla FE took profits on all 3 systems before it was even 8:31 AM EST! In a few seconds, Atinalla FE picked up 6% and is now up nearly 10% to a new equity high on the year. On top of that Atinalla FE shorted more EUR/USD later in the session and went into the weekend with about 1.2% in open profits.
Other gains in live accounts were good, but not as spectacular. Old favorite Atinalla No1 Live picked up about a half percent on the week, but went into the weekend with about 2.6% in open, unrealized gains.
Megadroid was quiet on the week, but I went in to the weekend short 1K of USD/CAD.
Atinalla No3 Live dropped to a new equity low intra-week, but came back to end the week up +0.82% for the year. Better yet, it went into the weekend with about 1.9% in open, unrealized profits.
Atinalla No4 SM which has been a thorn in my side all year lost about 1.2% on the week to a new equity low, but went into the weekend with nearly 2.5% in open, unrealized profits.
FX-Regression continues to struggle, but picked up 3% on the week and is now down nearly -4% on the year.
Last week's screaming winner on the demo side, COATL EUR Centered Portfolio crossed the up 50% mark which was a milestone for the best performance of any EA I've ever tracked in real time, real or demo. As it stands now, this account is up a stunning 56.8% for the year but went into the weekend with nearly 6% in open losses.
On the development side, I'm traveling this weekend and won't have much time for research. But my review of COATL (Part 1) is finished and ready to be posted. So check back in the afternoon on Sunday for that. As time goes by, I'm gaining a deeper appreciation for the hard work of our friend and benefactor Daniel Fernandez. Coatl itself is an amazing achievement in itself, and its taking some time (and more than one review) to fully wrap my head around it.
That's all for now. Go enjoy your weekend and check back on Sunday afternoon.
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