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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
No doubt ECB not announcing any measure but being inflation hawkish - the ECB should have been deflation hawkish - set the tone .
1.20 is where the floor is then it will go back up.
the steep stock slide earlier in the day was the result of a trading
error.
a trading error at a major firm is to blame for the market's plunge.
certaintly set the stage for large risk aversion trades - or set a
"negative tone" as one source put it - the speed of the moves in stocks,
bonds and currencies almost historic in nature and causing professionals
to sense something else was behind it. Is widespread talk that a "fat
finger" trade of 16M sale on S&P Minis went in as 16B. This is a
error, not a system's glitch so it jives with claims there were no
glitches. But others suspect it could be a large program trade, or
perhaps it could be associated with "dark pools" or high frequency
trading platforms. Whatever, lots of damage done to PNLs in all areas
today. And if the moves today were not caused by an actual error, could
feed right into talk about certain kinds of financial regulation.
Rumor being propagated. I'm still very skeptical. RT @Reuters: FLASH: Trading error at major firm blamed for market plunge -CNBC
ez banks cease loans, they are flat in all things..
nfp will provide retrace for your scalps