The Uganda shilling closed 3373 on the US dollar, 4463 on the British pound, 3799 on the Euro, 49.95 on the Rupee (weakness here), 33.27 on the Kenyan shilling, 2608 on the Canadian dollar, 2567 on the Australian dollar and 1.54 on the Tanzania shilling. Expect more weakness on the Uganda shilling. With the current geopolitical affairs and their debt being 50% of the GDP when they launch Roti / Chapati and mashed bananas. Good luck with that.
Coffee Arabica $3.62 per kilo.
Coffee Robusta $2.01 per kilo.
Gold is trending at $1325 after losing $12 per ounce. This is great. Means the markets went up. We will see in a bit.
Brent Crude Oil fell $0.46 and closed at $49.03 per barrel. Let us make this one the chart of the day. Sure, it looks like it is falling but if you look on the chart to the left from last week and the week before, the momentum is on the upside. It is a risky short at the moment but never go against the tide when there are 5 successive white candles like on this one.
WTI Crude Oil lost $1.33 and closed at $46.77 per barrel with the same pattern as Brent so the same advice remains.
Shanghai lost 4 points but this one is a no touchy on the short side unless you like pain. Sadist!
Hong Kong got out of bed and lost some 3 points. I have never watched an index as boring as the HKDOW.
Tokyo is acting too stable. Is it the calm before the storm? It gained 100 points and this is hardly a movement.
Frankfurt gained 30 points. Bullish kabisa! More buyers than sellers.
Paris gained 14 points and is also bullish. The CAC tends to move in synch with the DAX (Frankfurt).
London lost 33 points. You gotta watch out for the Britons. People lost truckloads of money betting that the FTSE would tank. Only did so for 2 days and then killed the shorters. It is mighty strong. Of course we love the pound having fallen so low as we can now get more value on it. You can always make money whether things go up or down.
Toronto – What the??? The TSX lost 139 points and formed a bearish pattern just when the kids are heading back to school. Damn!
Dow Jones Industrial Average lost 66 points but it is not really bearish so I would not short this index now. WAIT.
Standard and Poor lost 11 points. This is bad. It is turning bearish and looking like a good short. I would still wait.
NASDAQ lost 42 pints and it is looking like a good short right about now. The competition in Technology is fierce and we do not have any big things coming up apart from Halloween so I would not buy and hold this index.
I hate to have to say this but people are still killing each other around the world.
The US politics is turning very nasty.
Russia, Iran and Turkey are on a mission. North Korea is also up to no good. But these bombings in Syria and Yemen are continous. Poor kids. You might also want to know that people are being killed in Nigeria, Ethiopia, Somalia, South Sudan and UGANDA. Then in Zimbabwe, opposition is being relentless. The elections in Zambia are still being challenged and South Africa is another one. In South Sudan, John Kerry says if Kiir refuses a regional peace keeping force, US will cut off aid.
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I worked for this one company where my friends and I used to play the market. One time, some of our friends were hyping up DELL. I shorted it as they had no idea. Then they said Microsoft was going down soon after that. I bought and held. Lost all the profits from shorting Dell. NEVER use money meant for bills to play the markets.
Martha Leah Nangalama
I have an IT and business background and have been trading for over 10 years. Find me via Google