more rumor-mongering: s&p downgrade after the close is the rumor, another country near Hungary (which is on an easternmost atoll in the pacific or a Detroit).
Markets didnt move an inch after Fitch cut Hungary, so if this is not Germany/France/Swiss, no need to change your trading plan...what do you say !
Satchel, where do you trade - home/prop office or some other place ? Trying to figure out where do you get your daily dose of rumors, which turn out to be generally correct
Btw after the rumor that a rating agency is going to downgrade Belgium that day, it was summarily rejected and denied by the Fitch analyst responsible for rating Sovereign Europe. And after 1.5 hours, Fitch downgraded Belgium. Probably, the poor guy was terrified of an impending insider trading scam blowing away his career. thats why he denied the coming ratings change
I feel a hoo rah bear bretheren coming on don't fade me. damnit TRVLw, not sure about your pale ale allotment after the close