IIFT Daily Note with Peter Brown

Final three weeks of trading.

Posted by:  |  Time: 7:41 am  |  Topic:  |  Comments: 4
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We start December and the last few weeks of trading. The market was very quiet on Friday but reached another new high followed by a 100 pont sell off at close. Todat we have some pmi’s due but a quiet start is expected. Nothing big on the horizon news wise so the market should stay within day trading ranges.

Levels will be important because fading the move should be where the money is.

Today we are:-   Euro 1.3625001.3580  S&P (DEC) 1812  1800  Wall St (DFB) 16175  16075

4 Comments

Ross

December 2, 2013

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Markets looks quite happy to continue on it’s upward spiral. Nothing short of WWIII likely to take it off present course. Dow 20,000?

Peter Brown

December 2, 2013

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Hi Ross.

Plenty of stuff out this week and it’s December. Maybe close to highs for year end.
Famous last words but the market looks a little tired this morning

Peter

Myles O'Reilly

December 2, 2013

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Hi Peter

Cheers for all the good tips on trading day. Hopefully can put it into practice!

Question for you on friday’s NFP’s. Does the possibility of a revision to prior month figures have any implications for straddling the NFP number?

Thanks
Myles

Peter Brown

December 2, 2013

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Hi Myles,

Yes it can is the simple answer. But mainly when the headline number is close to expected.
So the straddle trade works when the number is wide of the mark, in that instance the revised number is not as important.

Peter.