IIFT Daily Note with Peter Brown

Update

Posted by:  |  Time: 8:21 am  |  Topic: ,  |  Comments: 3
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Little effect on the market this morning from the Irish Polictical meltdown. Euro very quiet. However reaching levels where most commentators want to short. Nothing on the charts. US equity markets continue their march forward.Dow getting close to 12,000, think that will be reached easily enough. Gold still confusing. This is a dead market for us traders. Got to wait for some direction.

3 Comments

Peter Brown

January 25, 2011

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Much of the same this morning, Euro looks a bit better bid.Pivot at 1.3705 and 1.3640 could contain the range today.
Whats happening gold?
Aud well up and about to test par again.
Dow heading through 12,000

Cheers

Peter Brown

January 25, 2011

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Sry guys pivot on Euro at 1.3625 just broken

Peter Brown

January 26, 2011

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It will be much of the same on Euro today. Directionless up / down trading.
1.3825 to 1.39 is the target most people have for the top.
Interesting Gold seemed to find a bottom yesterday. Might be the end of the profit take.
Very hard to take points from this market. Buy the dow on dips, great straddle trade on oil yesterday. Make 50pips in this market you have had a good day.