IIFT Daily Note with Peter Brown

Greece done for now

Posted by:  |  Time: 7:05 am  |  Topic:  |  Comments: 1
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Looks like we may have a Greek deal. This is not going to change the long term situation, it will only make it worse. The austerity being placed on Greece will lead to default in the end.

However we do not trade the long game and the market looks bid on the Euro this morning. 1.3300 has given way. I am not a fan of buying the market up here as I thing it needs a correction. Traders are getting a little carried away. The Euro problem is not over.

S&P looks tired after this massive run from before Christmas. 1350 is still intact. I am going to stay away from buying the market for this week just incase it corrects. Only loking for small point returns at the moment.

One Comment

Peter Brown

February 9, 2012

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Hi Peter here.
Just to clarify my earlier comments. It would seem there is still some sticking points on the Greek deal, so not done yet sorry.
Market still looks a bit top heavy.

Peter