BOC Drops Rates 1/2 Pt

BOC this morning cut overnight lending rates to .50% as expected. USD/CAD rallies 1 cent on the news tho.

 

4 trade attempts, 0 fills, 12 pip spreads.

Fun, fun, f@#%@#$

 

Filled me on the second 5 sell...

 

I think this move is beginning to run on fumes. Will short if it fails 1.2940 again or breaks 2900 with a target of 2750.

 

Stopped out @ 2945.

 

It was the quantitive easing statement that caused the move.

 

Ouch, that hurts - especially in the hindsight. Quadruple top appears in place on the daily. Further downside all but guaranteed.

 

Yeah, premature. But it happens to all of us from time to time.