The futures are down but fair value is up, Europe is down, Japan went up a half a percent and the Yen is in a steady upwards drift.
As much as I think today should be down it probably will be up because I think the jobs number is going to be way low and the market is going to see that as a harbinger of a springtime in interest rates - i.e. a droppage is in the near term.
The FTSE dropped on the open but has recovered over half of that already. Apparently nothing is going to keep Mr. Market down.
Have a good day trading. See you later with some interesting (I hope) posts.
UPDATE 09:00 - Futures are huge up, Europe is huge up and Mr. Marky is probably going to be huge up too.
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4 comments:
I enjoy reading your commentary.
Personally, I think you are overly accentuating the positive. I was expecting to see a down day today, and I still do. The markets, oseas included, do not seem to have much of a rebound conviction going on.
I agree and am looking for a down day too but that jobs report is going to come up thin and who knows how the market will react. I do know it should give the dollar a boost on the anticipation of a rate cut - but that is just knee jerk - if it carries over ???
Thanks for reading and commenting.
Yes, it seems that jobs report threw alot of people for a loop!
Nice try
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