Ed Ponsi, author of Technical Analysis and Chart Interpretations, is the managing director of Barchetta Capital Management, an NFA-registered commodity trading advisory. In addition to managing client funds, Ponsi advises a variety of hedge funds and institutional traders. He also provides a variety of trading education services through edponsi.com.Expand

Ponsi has appeared on CNBC more than 100 times and has been profiled in magazines such as "Technical Analysis of Stocks and Commodities" and "The Traders Journal." He is the author of Forex Patterns and Probabilities. a top-selling book on currency trading that has been translated into five languages, and The Ed Ponsi Forex Playbook, which is endorsed by Steve Hanke, professor of applied economics at Johns Hopkins.Collapse

If opportunity knocks, I'm buying.
A deeper pullback may be at hand, but that isn't such a bad thing.
Finding a bargain setup in the grocery aisle.

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I hope you enjoyed Doug's Diary today. Doug will be back in his usual place on Monday. Have a great weekend, everyone! 

More Recommended Reading Real Money Pro($)

Are markets underestimating the odds of a populist revolt in France? Current polls show populist Marie Le Pen winning the first election round, but then losing the second round to Emmanuel Macron. 

Recommended Reading Real Money Pro($)

Here are three interesting reads from the members of our own Real Money/Real Money Pro team:

Chart of the Day Real Money Pro($)

The folks at Zerohedge just put out a great chart, showing the relationship between West Texas Intermediate crude oil and the oil rig count. The chart points out that as the price of oil climbs, the rig count climbs with it. Zerohedge points out that the rig count has now risen for nine consecutive weeks, and for 35 of the past 37 weeks.

Recommended Reading on Valeant Real Money Pro($)

Josh Brown, a regular on CNBC's "Fast Money," wrote an excellent piece earlier this week on Valeant Pharmaceuticals (VRX) . The piece isn't really about Valeant, as much as it's about managing other people's money, but it's excellent nonetheless.
The euro had plenty of reasons to beware the Ides of March this week. Wednesday's FOMC meeting could've sent the dollar soaring, which in turn would've submerged the European currency. Wednesday was also the date of a Parliamentary election in the Netherlands, in which an anti-European Union party was polling strongly leading up to the election. Markets were looking at a potential one-two blow that could've sent the euro to multi-year lows.
Did you know that China raised interest rates this week? The news was easy to miss in the wake of the Federal Open Market Committee (FOMC) rate hike. Apparently, the People's Bank of China was concerned that higher U.S. rates would create an outflow of capital from China, so the PBoC tweaked their own rates ever so slightly.


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