Intraday Market Thoughts

Archived IMT (2009.10.16)

by Ashraf Laidi
Oct 16, 2009 16:57

Stocks extend losses after touching 10K just like FTSE-100 extended losses few weeks ago when it hit 5K. Whether it is the break of the 76 level for the first time in 365 days or NZDUSD failure to breach the 76% retracement at 0.7450, traders must watch these failed parameters of risk appetite. $GBPUSD did fail to break the trend line resistance of $1.64, while high yielders extend selling. Look for shorts in NZD and AUD against GBP, USD, while offsetting w/ shorts in GBPUSD.


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