IIFT Daily Note with Peter Brown

What a day

Posted by:  |  Time: 6:45 am  |  Topic:  |  Comments: 1
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Well we got the Euro reaction to the LTRO yesterday and then good old Helicopter Ben. American economy boiling along nicely so no need for QE3. What a sell off in Gold. We are down at 1710 our bottom of the range level. Price action from here will be important. If we stabilise we are at the bottom of the range, otherwise we are entering new territory.

Key levels are 1.3300 on Euro 1700 on Gold 1350 on the S&P.  Important day today. If we hold we are still in the Range.

One Comment

Paul

March 1, 2012

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Peter,
is it common to have a sell off the last day of the month and lots of buying the first day of the month? I seem to remember that pattern this time last month too.
Paul