Monday, April 09, 2007

Monday Monday Pre-Market

Asia went up nicely so apparently the release-of-the-British-captives rally was well met there. Europe is closed as they are after Easter every year. That makes a whole lot of sense - we close on the Friday before Easter Sunday and they close on the Monday. Who comes up with this stuff?

I took a look back through the past 7 years and this day is generally marked by low volume and not much else. With but one exception the market seemed to end with a few cents (DIA) of the previous Thursday's close - Tuesday is when the real work begins. The exception was a 60-70 point loss (DJI) back in '01.

The USDJPY just slid sideways down off a gap-up open and it is possible that not much will happen today despite the release-of-the-British-captives rally.

Then again there's no telling what that crazy gang of traders down in the pits will do - is there?

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