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Strategies & Market Trends : January Effect 2003 -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (316)	4/9/2003 3:48:29 PM
From: Londo	Read Replies (1) \| Respond to of 666

Assuming no fireworks for the rest of the day, today's markets were interesting. The S&P finally fell, but the treasuries were up fractionally (but did test support at the 111 1/2 level). Tomorrow should be equally interesting. I've got an order to short ES at 877, but this is a 'shot in the dark' order. I do still have a bit of short exposure to the index, so I'm not worried about losing out on a drive down for Thursday, but in the event the market climbs a little (especially after-hours), I'm willing to take the risk to expand my short position, with a stop set at today's "well timed" stop at 887.25. I'm still long on treasuries - I have no reason to sell them, even if the S&P inches up slightly. I'm anticipating 4.7-4.8% yields coming. Euro inched up steadily, closing at around 1.073.. I see it getting up to about 1.09xx before another decision point comes along. Finally, Hang Seng will open in 8 hours and I will cover on any significant weakness (looking for about 2-4% more weakness on SARS-related issues).