Wednesday, 25 July 2007
Weak US Data creating volatility
This morning i was quite shocked to wake up and find myself at the bottom of a 200 pip overnight drop, as the DOW retreated on more weak US data. Through the early asian session we then saw the yen fall on concerns over US data, and illustrated nicely the typical asymmetry between the european/us and asian sessions.
So where does this leave us now? At the time of writing, the equity is at 90k, with most of the drawdown coming from GBPJPY, so we are at a 6% drawdown currently.
None of the recent data really changes any of the fundamentals, and i expect this ripple to provide more buy in opportunities, and the account to go back over 100k by the end of next week. This whole patience thing does take practise.
So where does this leave us now? At the time of writing, the equity is at 90k, with most of the drawdown coming from GBPJPY, so we are at a 6% drawdown currently.
None of the recent data really changes any of the fundamentals, and i expect this ripple to provide more buy in opportunities, and the account to go back over 100k by the end of next week. This whole patience thing does take practise.
Comments:
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I agree. I see these levels as a setup to excellant buying opportunities.
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# posted by 
: 25 July 2007 18:37
: 25 July 2007 18:37 << Home
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