January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: RockyBalboa who wrote (645)	7/14/2003 8:59:02 AM
From: RockyBalboa	Read Replies (1) of 666

Volume is significantly down, volatility decreases a typical sign of the summer lull. That is, it is even harder to trade around an odd position now. The swings, though are still there but with extremely slow movements, yet they are tradeable. I suspect some rebound of the currencies given the the recovering interest rate situation (in Europe), and the stabilisation of the usd index. Still a tough call which currency drives to the next floor, now the trading is a bit tought against a lot of offer. The pound did a nice spin after the rate cut, from which it strongly rebounded but it did not stick to its gains. it is still in the support building procedure but perhaps it works out at and ahead of the 1.62 levels. For today the signals are mixed: Stocks way up, but currencies recover. Now as the indices stall (NASD: 1300, ESTX 2505, SP 1006), I think there could be only one way how to deal with it today: to trade the indices down after having watched the suckers' open.

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