Also the move happened when there was absolutely NO liquidity so if you were a big swinger there were no size offers to lift. When moves like this happen this screen gets very very quiet.
Jammed exit today in equities.....I've heard that institutions often start adjusting portfolios on 1st trading day of the month...will be interesting to see if this selling has follow-through.
Sort of a mixed bag as far as risk goes. You also had Aussie and Pound rally pretty hard last nite, then the Euro. Cad very conflicted. You sort of have to call it as you see it. I just couldn't hold onto the USD/JPY short as it bounced around 104.80. Sitting on my hands now, reading The Logical Trader PDF. It's a pretty good book. Don't know if any of you have heard of it.
Looking at the indices, both Aussie and Pound have given back those gains. USD weaker too so if you look at the Euro crosses with those 2 currencies, for example, you see the weakness today.
man, when that HJ decided there would be no winter for the weary, it really decided to deflate that premium
Yeah my HJ model price has been predicting < .10 for weeks now. I thought the model was broken. LOL. We were trading at a .20 premium to my model for over two months. It's finally converging.
I'm in agreeance wit dat. I was flat by 730 am . Sold out of Aussie on the push above 50 last night, luckily had a limit on GBP above .60, and thought the Euro would at least stall at 1.10. So I missed the rest of the move. Still a big big nite and I refuse to give a penny back. Watching copper as an indicator but I don't trade it. This level seems key.