Quote from Gringinho:
Deutsche Bank comments that they think daytraders will be very careful today. That's my impression too. I think we can see very choppy conditions because of uncertainty of the substance in this rally. Oil and the double deficits are the usual suspects, but now we also have corporate hedgers and a whole dustbin of rumours.
Point is, we probably will not see that much of a trendy move during the US RTH session. That's no surprise with the giant move during the asian session and pre-market asian gap even. US names will have the whole political uncertainty with an election which seems to be starting out like a lawsuit outta hell, as well as doubts about how strong the US economy and growth is - enough to curb the recent onslaught ? Popular talk lately involves a lot more USD bashing.
I have been programming and tweaking all weekend, even all night until now. I think I will wait almost until the european close for some clues ... this market needs to mature to these levels - at least in my head.
90-60 mins before the european close will be my focus, with a passtime of reading analysis and comments until then.
Thomson are long from 1.2803 with target 1.2930 and 1.2740 stop .. Thomson and DB both say that a 1.30s are very likely to be explored soon.
I'm in waiting mode here too. I'm also getting choppy mode signals.
