Trade of the Month....

I have been watching Euribor futures. Recently I shorted them with no success. My thinking was that interest rates globally were going up and although I felt Europe would lag I felt they would raise rates at their first opportunity. I still feel that way but think that the "first opportunity" is month's away. I went long June 05,Sept05 and Dec05 contracts yesterday. The upside for June is limited (6 pips) and I will be looking to sell at 97.85. I will stay long these futures until a fundamental change in the markets occurs. I do not see that happening in the near term.

Good Luck to all !