IIFT Daily Note with Peter Brown

Update

Posted by:  |  Time: 8:03 am  |  Topic:
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Confusing market this morning. Equity futures roaring, and bad news in Europe being ignored.

Need to wait for the first move to see the tone. If Euro moves on from here we must take out 1.4220 and 1.4250, good levels to short I feel.

Remember the market is trying to pull apart the Euro in the long term. Now that Ireland and Portugal have gone it is the turn of Spain and the end game. Macro wise we are goping to have a major crises but it will have to be biting these politicians in the ass before they will react.

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