IIFT Daily Note with Peter Brown

NFP not that good and Ukraine back in the headlines.

Posted by:  |  Time: 8:03 am  |  Topic:  |  Comments: 2
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Well Friday worked well. The S&P cash 1900 level was a great sell point and I squared that trade this morning. Have we hit a medium term high. I think so. We start this morning negative but I want a bounce to re-enter shorts. Gold got a great bounce of the 1280 level and as usual FX is stable. Some calling for a deep correction in stocks from here. That will depend whether the Ukraine situation gets worse. At the moment I do not see a reason for a 5% + correction, there needs to be a big story for that to happen.

Today should be fairly quiet and than a little more active when Wall St opens.

Conditions Calm/choppy Levels are S&P (JUN) 1860  1848 Wall St (DFB) 16450  16350 DAX (DFB) 9650  9545 Euro 1.3740 1.3680 Gold 1325 1280



April 7, 2014


Hi Peter
Dax levels working very well 9690 last Thursday and 9540 today. I think it might turn down for a bit on news and tech. Is Ukraine going to cause enough worry to send it back to 9000 especially as everyone assumed it was a stable situation? Any other news to drive this situation?


Peter Brown

April 7, 2014


Hi David,
The Ukraine situation is worrying. If Russia try to take more territory that will be a very very serious development and will lead to major market jitters.
Other wise there is no big news. The market could get into correction mode. That would be a normal event. 5 to 7% down from the high.
So at the moment I am going to sell on rallies.