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

To: RockyBalboa who wrote (383)	4/24/2003 5:18:18 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 666

The EUR made it far over 110, running wild early this morning. But as we approach the US opening, the markets are no longer that weak. I guess that we have seen the highs either in the NDX/SPX future or, alternatively, the EUR. There is a one last effort to push the EUR towards the 1.1030 highs, so I ride the wave a little here at 1.1012+. Plan to short once the riff at 1.10.10, and further down, 1.10 is broken. There is a smell in the air that the ECB might intervene, but its not even a rumor yet. An intervention could bite off 50% of the recent rise so it would lead the pair back to 1.08. I am a bit tending to trade the stocks down, the currency and bonds are resilient while the stocks are muted by awful European/German (Deutsche Bank, Fortis etc...) results and forecasts. I wonder how long it takes until the stock market realises in earnest that nothing is as rosy as it has been painted in recent days (the SP/NDX nicked earlier the day but recovered). But I'm not sure whether that happens in April, or right now. People buy up everything what moves, especially small stocks, so looking back into 1998, this is,... reminding me a little bit what happened then.