IIFT Daily Note with Peter Brown

It’s a waiting game

Posted by:  |  Time: 7:38 am  |  Topic:  |  Comments: 1
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Yet again the market steps back and awaits a leaders summit. Whether it’s a G20,  G7 or a Eurozone leaders summit like Thursday/Friday, the outcome should be the same- hype followed by no action. This one might get a bigger hype because the game is getting more serious. But the chances of concrete resolutions- very small.

In the meantime we trade. Yesterday saw a test of 1300/1304 levels. This has held well before and should do again. 1.2460/80 on the Euro has the same qualities. Buy at those levels today with small stops. Nothing dramatic untill Friday.

One Comment

Peter Pipesmoker

June 26, 2012


As usual can’t see much coming out of this Summit and there will be some degree of resistance to more Political Integration . Mostly the Markets and leaders want some sort of Bond Buying and ECB intervention on a grand scale to sort the Crisis out . It won’t happen , but a row might this time because the pressure is really beginning to come on . That leads where ever
it leads to . The might think one last fudge will work and will find the Markets turn on them calling time this time . Yours Peter Pipesmoker from Ennis .