January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: Londo who wrote (554)	6/14/2003 5:44:17 AM
From: RockyBalboa	Read Replies (2) of 666

Looks like the stop was well placed, the ZB really zoomed at the end of the week, and stock markets failed to take the 1000 (the SPX) again... I'm satisfied with the EUR results after some choppiness it rose as likely also other traders considered it cheap at 1.17 and below. Unfortunately I sold off the pound way to cheap considering what it pulled off after the unholy treasury warning. Its up 5 cents since and I got less than 2 of the move. But it is still nice to cash in gains and not take part in losing trades. I hope that carries on for a while. I would definitely had less pleasure if I was sailing down in the pound in the 5 minutes and selling it there... The German Bond makes consecutive contract and life highs, scratching at 120 now which appears to be the ultimate (?) target. It was able to rally 4 full points in the last 2 weeks and now what? Given the concerted buying efforts starting at th NY open, I wonder whether something fishy is going on, perhaps someone must be crushed. At the same time, issuing and refi activity is brisk... The Eurodollar draws my interest. All the buying drove the spread for the 2nd expiry downto 1 point which means that the december money is trading quite below 1% now. This does not sound right, considering that a rate cut is happening before september and this could be to the 50bp tune...

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