Is a turn coming?

What I mean is a turn in attitude. A few postings ago I wrote about how the market was interputting all news as negative and this week it seemed that might have changed. Although there was numerous bad numbers out U.S. futures consistentey moved lower. Stocks held together and Emerging Markets continued to do well. I think this could be something interesting to keep an eye on.

Friday there was talk of a Ambiac bailout. Stocks took this news very well. Rallying from -100 to up 100 in less then an hour. EM was little changed. Brazil took a run lower but closed the day weaker against the dollar after triggering option stricks at 1.7000. Could it be time for the Sub Prime issue to take a back seat here in the States ? Well let's not get crazy. But I do think this could be signalling that overseas market's could be in for difficult times. Sure Stock's worldwide are down more then in the U.S. but I think rates and currencies could be next.

Good Luck and Good Forex Trading