Tuesday, October 26, 2010

Overnight Trade develops according to trade plan

Final Institutional Level at 1174.25 also happens to be a Volume Composite level ( Which I don't use, NOT reliable ) reached and filled for a total of
+ 45.50 Pts Profits on multiple contracts - HOME RUN !

To be continued after market close....

Now that the G20 bullshit summit is out of the way, traders will be hoping that the global session’s early reticence was not caused by caution ahead of the Federal Reserve’s meeting on monetary policy, at which the market expects the launch of fresh round of quantitative easing.

Hopes for QE2 have been weakening the dollar, which in turn has helped a move into riskier assets. The dollar’s recent stabilisation – its index has closed within 76.5 and 78.5 for the past 17 trading days – may be a sign that either investors are having doubts about the extent of QE2, or they feel it is now baked into the market.

But the Fed’s decision is not until next Wednesday, and if investors sit on their hands until, then it may make for several dull trading days.

Thankfully, there is plenty of macro- and microeconomic data for traders to get stuck into before then. Bulls will be hoping they will see an improvement in US economic numbers, culminating in Friday’s advance reading for third-quarter GDP

1 comment:

  1. POMO dates thru EOM and first week of Nov:

    OCT 26
    OCT 28
    NOV 1
    NOV 4
    NOV 8