IIFT Daily Note with Peter Brown

Can Facebook save the Day?

Posted by:  |  Time: 7:26 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Well what a day for the Facebook IPO. Market is extremely bearish. Any good news or rally is quickly destroyed.

Yesterday we had a downgrade of Spanish banks. It just get’s worse. We are now at important support levels.

1.2650 on the Euro. the S&P has broken 1300 level. Market is getting hammered by the crises in Europe and there seems to be little let up. Tried to buy a bounce yesterday. won’t be doing that today.

This market is still a sell on any rallies. Enjoy the Facebook launch. Remember events like this are entrertainment.

Comments are closed.