The Uganda shilling is finally annoying me. It is making very tiny movements. We need movement here. We make money on movement. And the movement must be significant. But this shilling is moving in 5 or 10 and the country does not have those denominations. This is a classic pattern. No movement so no trade. When a currency busts a move, we make money up or down. This one is one to just put on the sideline. It just keeps trading badly on the Canadian dollar because it hates me and it is mid month when I have to send money home for my mom and elders. So I am in a crappy mood because the shilling is not playing out well.
The Uganda shilling closed at 3372 on the US dollar, 4368 on the British pound, 3757 on the Euro, 50.49 on the Rupee, 33.24 on the Kenyan shilling, 2596 on the Canadian dollar (ouch!), 2594 on the Australian dollar and 1.54 on the Tanzania shilling. The Uganda shilling is doing rather well. Do not mind my anger about it appreciating against the Canadian dollar (I have vested interests).
Coffee Arabica closed at $3.53 per kilo.
Coffee Robusta closed at $2.04 per kilo.
I watch coffee a lot because it put me through school. I should actually be trading coffee given how much coffee I have access to. Coffee is pulling back a bit but will go up. Let me go get a cup of Arabica from Mt. Elgon Uganda.
Gold is trading at $1337 per ounce and lost only $3 per ounce. This means that the global markets are recovering and not running into gold for safety.
Brent Crude Oil – Holly crap! Brent gained $2.13 and closed at $45.97 per barrel. What a wonderful setup. Nedda, I am not checking my oil stocks account. Let it ride.
WTI crude oil went up by $2.52 and closed at $44.23 per barrel. OIL is killing a few shorters. Love the short squeeze.
Shanghai lost 16 points and this would normally not be an issue but the previous gains have been contained in a red negative candle. So it is likely that the $SSEC might fall more. But I had a lot of hope in the $SSEC and now it breaks my heart.
Hong Kong gained 1 point. At least wake up and get out of bed. These zero movements and 1 point are not the way we make money. At least move because we make money on movement! Shaaa
Tokyo lost 30 points and it was well deserved. Some woman got raped by a Pokemon and then the girls drove into town to hunt for Pokemons. No idea how this week will end. Jokes aside, I think that Japan is doing pretty well because the Nikkei can tank or rise so fast and stun you and burn you out of money. This is one index I really prefer that it does not move at all.
Frankfurt – Sacre diable! The DAX rose up and defied all the people who hate Merkel for allowing in 1 million Syrian refugees and ignoring the terrorists attacks. Germans are a wonder. I should be German. The $DAX gained 92 points. I am breathless. Do you people remember how many times Germany has been hit and they always defy all and everything. Martha Wolfgang could work.
Paris – mais comment? Passer moi la Pastis! The $CAC shot up by 52 points et Je suis completement Francaise!
London is serious. The whole #Brexit shook out weak hands but wait till you see the chart. I swear London Bridge ain’t falling down. The first trip for the girls to UK with their cousin Jeremy who works for a sporting store. Kids skype “Mom, have you ever seen Big Ben?”. I had never. But when I started to sing “London Bridge is falling down”, they cut me short. Mom, London is amazing. You gotta come here. Of course they did not know that I fly through London so we let the fun ride. What the $FTSE did to the world is going down in history. This index has defied all the odds, shaken too many people out of money and still rides high. I should have gone to business school.
Toronto gained 21 points which is inconsequential because it can move in hundreds of points. Taking a break is always good.
Dow Jones Industrial Average gained 118 points. Looks like we are in a bull market. Where are all the sellers because the buyers seem to be taking over!
Standard and Poor gained 10 points. Now the goose is surely cooked because the S&P says we are bullish.
NASDAQ gained 24 points. Miniscule. Wait for the NAS to make a movement when its 3 cousins above from North America make a serious move. But the Nas has been very resilient though. Thanks for buying all the gadgets because this index is techie heavy.
Some people killed some people.
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Martha Leah Nangalama
I have an IT and Business background and I own shares and have traded everything in the past.
I am a volunteer writer and editor for The Insider.
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