IIFT Daily Note with Peter Brown

Profit Take

Posted by:  |  Time: 7:08 am  |  Topic:
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Well the home sales figures show us the reason Bernanke is going to keep rates low for years. The US economy is not in great condition.

We saw a profit take last night and overnight in Asia on the Jpy. We are seeing very choppy markets at the moment with little direction.

It is easy to get whip sawed, The moves are good 100 to 200 points, but the mood is swinging from Risk on to Risk off out of the blue.

You need to keep the stops tight so when the market turns you are protected. When it’s going your way, ride the trend.

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