Wednesday, August 11, 2010

Weird Wollie Wednesday - and watch the euro (again and still)

Time is the most precious commodity. Unfortunately I remain in a short position there - turns out there's almost more effort needed after a residence move! Anyway, it's the Wednesday before opex week so we may see a reversal from Tuesday's action. That seemed both low and high, so we'll see what today's cash market brings. Maybe we'll see the move down to Friday that ChartsEdge's weekly indicated, and maybe it'll bring a good cover/buy point. We'll see! Meantime keep watching that euro. It'll be our "tell" for a while. It broke the monthly channel line resistance but faltered at the 13-month moving average. There can be support ranging from 120 to 127....

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