Wednesday, February 18, 2009

Thin swings

Cable has been a wild one with knee jerks... mostly aimed at the abdomen LOL With risk reversals apparent in asia today the pic still remains unclear on that. Russia has decided to print 3.2 trillion to cover deficits, which should continue to weigh on the basket. Eurozone carrying weights ard its neck these days with the euro "sub-prime" ala eastern european banks being the weight. Best PF stretegy is weight for retracements to sell. Yet mkt filled with sell orders but getting filled at snail's pace on eurgbp retracement. Is the downside on sidelines and stabs at upside probes the order ? Unclear but seems like attempts are there. Market conditions warrant close monitoring and patience and entry levels must be strictly adhered to. That way the risk exposure is lowered. With some funds betting on recovery of commodity ccys like the aud, its yet unclear IMHO. So what if gold has been bullish. What else is there for safe haven allocation ?