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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (3263)	1/21/2008 6:32:16 PM
From: RockyBalboa	Respond to of 6370

Thanks, yes I see it. I was already wondering why my screen was black at noon today. I was referring to various European indices. They lost 6 to 8% with the ESTX50 hit hardest. It closed down a bit more than 8% for the day. Normally, arbs would work a globally and sell off the SPX on that fall but buy back what they sold in advance today (the European stock indices set record trading volumes). Today, the japanese decide interest rates. this is a good time to speculate against the overbought yen (particularly against crosses). Currency traders are notorious for ignoring other facts, particularly the sagging japanese stock market. The BOJ may stop the Yen rally pretty quickly. Some hours to go until about 00:00 eastern. Short term pain...long term, gain.