Wednesday, October 20, 2010

Skeleton Shift Update: October 20, 2010



I was correct yesterday in that trading was headed into lower territory going into the Asian Session. Uncertainty of a reversal kept me out of the downtrend which was stupid, but maybe not... since backtrading is always a sure winner. Well today, I've noticed post Asian/Euro overlap is when the trend for the day usually takes place and can be traded up to the New York open for a conservative play. If New York agrees and your thesis is inline with the trader trading through New York on the same position can be even more profitable. I will be possibly trying to time a trade around then for a short term play to test this strategy out. 


Asia's Major indices probably trailing US equities close yesterday. European Equities are continuing with slightly lower opens. More soft US earnings can perpetuate this weakness we've been seeing in the markets across the board. 


Lots of movement in the Agri space with Soy and Drey Wey taking early gains. On the energy side WTI and COIL are also paring overnight losses. These moves seems to be somewhat related to temporary dollar weakness we are seeing going into London Trading.


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