Pretty Much Sums It Up Today
All the action today was in early Asia, as financial markets
reacted to the elections in Greece
and France.
Gold opened the day with a $6 5M candlestick [1642 – 1636]
and as I write this we have a $10 range for the day. And, if it wasn’t for a
very brief stop hunt, the daily range would have been only $8. Throw in wide
spreads [what else is new?] and the usual dealer games, and what you get was a
boring day not worth trading.
Looking at the currencies, I had expected to see more down
side action after the initial low in EURUSD in early Asia.
We got short and took profits as the Euro bottomed and turned around. From
there [1.2980 area] not much happened the rest of the Asian session.
Trading in the UK
[London] was closed today for Holiday;
therefore action in the European session was definitely muted. We saw some
short covering going into the US
session in the Euro, along with a rebound in world equity markets, and this
theme continued with no real action other than short bursts.
With all markets open tomorrow, things should get more
volatile given the news of the weekend.
So, we ended up with about a 0.2% gain today.
I’m still in the process of doing paperwork for our new
PAMM; I’ll have more information later.
Have a good day everyone.
-vegas
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