Monday, October 13, 2008

All is Well....

Markets are looking positive this morning as a combination of European and U.S. plans to restore confidence hit the news wires.

U.S. equity futures gained after the worst week for stocks in 75 years, boosted by the government's plan to buy stakes in banks and a Federal Reserve officials pledge to ``consider every option'' for restoring confidence.

This is the key restoring confidence. Nothing is more important at this time !

Financials, led by Morgan Stanley (up 34%) and Merrill Lynch (up 10%) are all up in pre market trading.

``The measures that they've said they're going to take are important,'' said Quincy Krosby, who helps manage about $380 billion as chief investment strategist at the Hartford in Hartford, Connecticut. ``When we say stabilize the financial system, we're talking about money flowing, banks lending. That's what the market is waiting for.''

It is very important to have a positive day today in stocks.

Emerging Market currencies should trade stronger today also. There is a call from locals in Brazil that we will trade back down to 1.9000 in the next few weeks. If a credible plan is announced, I think we could be there sooner then later.

Good Luck and Good Currency Trading.



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