Intraday Market Thoughts

Archived IMT (2010.05.06)

by Ashraf Laidi
May 6, 2010 20:17

Dow Jones Industrials Index FELL 1000 POINTS or down 9.4%

and S&P500 Down 8.4% during the post NY Lunch as volatilty surges on what is believed to be AlgoTrading and talk of "fat finger" trades-related errors. CAREFULLY WATCH YOUR ACCOUNTS..ITS TAKING A WHILE FOR BROKERS TO MAKE FILLS.. WATCH YOUR MARGINS. YEN SOARS across the board followed by USD rally but fresh wave of buying in US equities isu helping to stabilize the situation. WE EXPECT SUCH SELLING TO RETURN IN ASIA BECAUSE 9% INTRADAY MOVES NEVER OCCUR WITHOUT CASUALTIES (hedge fund liquidations). Therefore rallies in YEN and USD are EXPECTED TO EMERGE.


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