got my finger on the sell button... 1495-1500.. waiting for confirmation. Longs are now trailed close to the market.
still full short on euro and addin more on pops on the way down today. added more on that last pop...
One of my rules applicable to all markets (but especially the Hang Seng) is this: "When the market gaps up, and then trades down to a point that there is a swing low above the gap, there generally is at least another strong move up for the day... Gap (or strong move) plus mid-day consolidation equals late afternoon continuation." Clearly there is an attempt right now to close the gap. If/when that attempt fails, I will be looking to go the other way.
"U.S. Treasury Secretary Henry Paulson is negotiating an agreement with banks to stem a surge in foreclosures by fixing interest rates on loans to subprime borrowers, according to people familiar with a meeting he led yesterday. Citigroup, Wells Fargo and Washington Mutual Inc. executives attended, said a person present, who spoke on condition of anonymity." This is why you always trade with a stop....can't predict the interfering in free markets s#$t