Would not be unexpected ...

that the softness of mkts to remain . JP Morgan and Wells fargo results out rather mixed to uncertain. Going foward discounts would be expected. Noticed the last 2 sessions that Aud tries to climb during early londontime but tend to slide away into the open of U.S. Traded the shortside on aud yesterday and today. 45 mins into london open got 62 pips then got busy with the index. Erratic and thin today on the index. Could be a sign of $ sidelined as opposed to the buying on dips that we've seen. So the tide has ebbed. Big pic as I see it has not changed from my earlier post. Gbp staged a nice rally into late afternoon. as usual i left lots on the table . maybe am just tired and another mental health day might do the trick LOL. Let the FX mkt sort itself out for the week and braise for the slow down to hit in 2009. As for the euity mkts it may be too early to call abottom. Even with the bounce of the 50% retracement recently. Bottom picking only results in a smelly finger.