March 31, 2011
Didn't get to follow much of the day. Finishing lots of business work.
*Crude Significantly up going into Friday
*Ireland stress test well within Expectations hence the strong Euro today
*PMI ... reaction seemed muted?
*GBP was floatdown most of the day but mostly flatish
*Corn was on fire via supply news
*AUD continued its rocket ship move up
*NOK broke below support levels quite strongly following the dollar weakness trend
I kept hearing today crude oil prices can't be good for the consumer all day... to be honst there is room to 145 will we see mild effects on the consumer at these levels... but it won't show up for another few months, and will be negligible IMHO if anything.
Im getting a felling in the back of my mind a dollar correction is needed. SPX seems like its hesitating quite a bit at these levels. Will we get a break to the upside?
Probably a lot of this action will be seen with NFP tomorrow. Overall with quad witching this month, window dressing, MENA risk... this month has been wicked wild... getting any "real" solid read probably is BS. Got to go with the flow with these trades and stick them short term. Any rational has been quickly reversed and fipped and flopped. Heres to making money and being right or wrong!