IIFT Daily Note with Peter Brown

Getting exciting

Posted by:  |  Time: 6:54 am  |  Topic:
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Good gap close yesterday on the S&P. Well the Greek situation bubbled up nicely and has us down at the bottom of recent ranges. 1.3000 for the Euro and 1334 for the S&P. This is going to be simple this morning:-

1. If the war of words continue between the Greek and German Finance minister’s, this market will head lower. Nobody will want to be long into the weekend, where a default could happen.

2. If we get some nice ‘ we will all work toghether and sort something out’ comments , we will rally.

Sit on the fence untill this direction becomes clear. First up we should bounce a little.

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