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TIGER ON SPREADS
P.O. Box 64401, Chicago, Illinois
800-368-5958(March 18, 2002) CURRENCIES: FOREX trades have also been disappointing as the U.S. Dollar has remained firm and the Eurocurrency remains soft. Stand aside but keep an eye on the June Japanese Yen/Swiss Franc spread with a long Japanese Yen/short Swiss in mind. The spread had declined to oversold levels, but could rebound considerably further. Consider the long Japanese Yen/short Swiss Franc spread below 1600 Japanese Yen premium. Use a nominal 40 point stop with a profit objective of 100 to 300 points.
The June Eurocurrency continues to look attractive. Aggressive traders should consider long June Eurocurrency/short Japanese Yen or Swiss Franc. The Eurocurrency could go back above 92 in the period ahead, which would also favor the spreads.
Phil Tiger
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