Today's trade
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Fundamentals
Asian markets down overnight and US markets reverse powerfully = bulls lose control
Germans vote on EFSF = uncertainty
(Reuters) - Asian shares and commodities fell on Thursday on growing worries that Europe's intractable debt problems will plunge the world into a second global financial crisis.
Copper fell 3 percent, gold slipped toward $1,600 an ounce to stand more than $300 below its record high earlier this month, and commodities-related stocks such as global miner Rio Tinto were dumped on worries that demand will weaken as the international economy slows.
U.S. stocks close lower, with Dow down about 300 points from day highs on European doubts
SYDNEY (MarketWatch) -- Japanese and Australian shares were notable decliners in a weak session for Asia on Thursday, dragged down by losses for energy firms and persistent worries about Europe’s debt woes.
Risk FX
UUP as stated yesterday will move higher ...
EUR/USD now at resistance after moving higher overnight on short squeeze prior to German vote .....all bullish news factored in @ 1.3630 region ....sell on news , buy on rumour type event expected
AUS/USD - remains under pressure due to weak commodity prices....copper, gold, silver oil under pressure
Technicals
daily chart = bear flag and bearish continuation pattern
10 mins
1. bear flag
2. LL and LH's
3. bearish MA ......20 MA < 50 MA .........target = 200 MA
4. all equity variables under pressure...especially banks as EUROPE bans short selling due to concerns ...short selling ban has never worked
60 mins bear flag
---------- Forwarded message ----------
From: Wallstreet1928 <
[email protected]>
Date: Thu, Sep 29, 2011 at 5:41 AM
Subject: I am short ftse 100 from 5190
To:
I will add upto 5220
avg around 5205 region
stop loss = 5265
tgt = 5150 , 5100 "