IIFT Daily Note with Peter Brown

Ranges

Posted by:  |  Time: 7:10 am  |  Topic:  |  Comments: 2
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If we are in ranges on the markets we are close to the bottom this morning. 1.3025 on Euro and 1302 o the S&P.

Do not see really bad news around so this may be a good buying opportunity. Next support on the Euro at 1.3014.

Everwhere else looks a pretty quiet opening. Gap play on the S&P working really well at the moment. Today the level is just under 1308 so if we slip a little further from these levels we may get a nice 100 point play there.

2 Comments

Gerry McEvoy

February 1, 2012

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Hi Peter,

I missed that big run up this morning, hoping for a big correction to close the gap.

Do you fancy the chances of a gap close from here.

Regards,

Gerry

Paul

February 1, 2012

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Peter,
Would it be a good idea to have a limit order placed to buy USDJPY and EURCHF above current levels to catch a spike up in the event of intervention?
Paul