This is nuts! FED chairman fell pray to an identity thief, or gang of thieves. Somebody stole purse belonging to wife of Mr. Bernanke, Anne, which contained all sorts of personal documents. Few days after the theft, somebody started to cash checks on personal account of FED Chairman. Wow! Now, this takes some nerve. It hasn’t been revealed just how much money had been stolen. I don’t think it matters, because bank most likely made it whole Mr. Bernanke, but the very fact of who the victim was makes both scary and funny.

Can only imagine the cracks people are taking at him now, behind his back, of course. Something like “What difference does it make? He will just print more money.” Wonder if conspiracy fanatics will start calling for a proof in this is real Bernanke we see o TV, and not an impostor, somebody who stole his identity and is his having great time playing games. I just can’t stop laughing when I think that there are some low lives running around Washington D.C. and passing Bernanke’s checks for crack or something.  Normally we talk about him as FED Chairman, not as a victim of petty thieves. For some strange reason I find this situation entertaining, probably because it is so absurd. 

Kind of like my trading. Things are going slowly for me. August has been the most difficult month this year. It is more of  a statement than a complaint of any kind, because results are still positive . However, I had to keep adjusting my orders to fluid markets more than in recent memory. A lot of trades had to be closed before reaching target, sometimes prematurely and I had been misreading longer term charts. Trading gravitated towards shorter time frames, as it became much more comfortable for me to go after smaller objectives. Trade from yesterday was a good example.

I went long EUR-AUD at 1.7077, looking for about 100 pips on a reaction after thie sharp sell off. Price snapped almost immediately after entry, but failed to reach the objective. Position was held into Asian session, not much of anything good happened at that time also. It was closed for a minor gain and I waited for European open. Price moved swiftly down and I left it alone .

Small breakout trade in GBP-JPY, for a few pips. Speaking of the Pound, earlier in the week possible buy set up in GBP-CHF was outlined. That trade didn’t happen, as the price drifted ever lower. Buy orders were adjusted every day to just above previous day high and this course of action is still in progress. Over the weekend I’ll take another look at some charts of Pound-Franc and decide what to do next. Most likely I’ll keep doing more of the same.

Mike K.