Everything is OK !!
Judging from the reaction of the markets this morning, it seems all fears have vanished. The Nikkei was up overnight (up 1.22%)as was most of the Asian exchanges. All Emerging Market Currencies are opening stronger this morning and all of the "talking heads" on TV are saying not to panic. Only Time will tell but remember if markets begin to trade sideways (as I think they will) then higher Yielding currencies will do better. I am going to be away the rest of the week and not sure that I will be able to update, so I will leave you with the positions I currently have on.
Short dollars against Mexico and Brazil and of course short rates in both (although only tiny short in the Mexico.
Don't miss me to much.
Good Luck and Good Forex trading.
Short dollars against Mexico and Brazil and of course short rates in both (although only tiny short in the Mexico.
Don't miss me to much.
Good Luck and Good Forex trading.
Labels: Markets
posted by Banker at
Tuesday, March 06, 2007
1 Comments:
I think its too early to say that the correction is over. I think we are definately in a sideways mode, but I would bet more on a break to the downside in high yielders rather than an upside break. On the long term charts, it definately looks like more correction is due, in both the stock market and high yield currencies. After the dust settles a little bit more from recently declines and the market becomes a little more technically healthy, we should get our answer!
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