The Euro has pushed up 180 ticks in the last couple of hours on talk of a Greek Debt buyback, as well as comments from the S&P ratings agency saying there is a 50/50 chance of a US downgrade in the next 3 months.
We also have GBP/USD hitting 1.6223, Breaks 1.62 Level For First Time Since June 22.
The Greek bailout talk has lead to a big sell of in Bunds as we are now down over 90 ticks for the day as I write.
We have support in the Bund at 127.23, 126.61, and resistance now at 127.74 and 128.33.
Still to come today we have Philly fed at 3pm UK time.
Thoughts and commentary on daily market action, plus my trade log in equities and futures.
Thursday, 21 July 2011
Tuesday, 12 July 2011
Stock buy: TLEO
I initiated a long position in TLEO today. Its in a downward channel yet has great growth potential. I have noticed the short selling interest has increased and with the current short interest it would take 13 days to fully cover, thus any sort of rebound could lead to further gains due to short covering. However with the market on edge another breakdown and ill be looking to exit.
Entry: 35.44
Stop: 33
Exit: 38
Entry: 35.44
Stop: 33
Exit: 38
Bonds swing massively as Euro Tensions persist
We had some wild moves today in all futures and some break out spreads. Watch below for the breakdown
Friday, 8 July 2011
Non farm payroll leaked!
What a bad number that was, we had 18k jobs created as opposed to the 105k expected, this was even more of a surprise because ADP came out 80k jobs better, and every indicator on other numbers pointed to a good number.
But there was some very dodgy business going on as it seemed someone had it just before the number, its an absolute scam as those people have totally cleaned up illegally in my view, but theres nothing you can do I guess.
Below is the chart of the Bund and Eurostoxx.
As you can see we had a 50 tick spike up in the bund in the minute before the release and a 13 spike down in the Stoxx in the minute before the number and then we had the big move on the official release. I guess those in the know will always be ahead of us retail traders.
With this number I think we can get some type of correction after the monster rally we have had in stocks over the past week, so looking for weakness going forward.
Have a nice weekend
But there was some very dodgy business going on as it seemed someone had it just before the number, its an absolute scam as those people have totally cleaned up illegally in my view, but theres nothing you can do I guess.
Below is the chart of the Bund and Eurostoxx.
As you can see we had a 50 tick spike up in the bund in the minute before the release and a 13 spike down in the Stoxx in the minute before the number and then we had the big move on the official release. I guess those in the know will always be ahead of us retail traders.
With this number I think we can get some type of correction after the monster rally we have had in stocks over the past week, so looking for weakness going forward.
Have a nice weekend
Thursday, 7 July 2011
Close postion: TSO
Closed TSO today, as its pretty much flopped after a bright showing earlier on when it was 6% onside. but the recent massive rally in the market was too much of a force and with oil recovering, I had to bail.
Entry: 22.23
Exit: 24.69
Entry: 22.23
Exit: 24.69
Friday, 1 July 2011
Close position: PVA
Just closed out PVA, looking at the price action just feel like a right dog of a stock. Getting smashed down every time it shows some strength. I rather just be out since there is much better out there.
Entry:13.25
Exit:13.09
Entry:13.25
Exit:13.09
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