Monday, 11 July 2011

Trading and All that Jazz

On Saturday night Mrs EL and I headed to the other side of the lake to the Montreux Jazz Festival. It's an annual event on Lake Leman in Switzerland every July and is not just jazz in the purest sense. This year there were names like Sting, Santana, and Chaka Khan to name just three. There's a whole lot of free music as well with lots of good street food too. The town is packed by the cognicienti from all over the world. Great night!

Formula One race on Sunday was more interesting than usual due to the rule changes - moving the goal posts - sprung on the teams. The rule changes did their job and gave Ferrari the win it was after. I'm far from being an Alonso fan, but it was a great drive. Pity it was achieved the way it was.

At 7am here in France I was expecting weak stock markets when I woke up, due to Sunday's bearish news about both India and Euroland, not to mention Laguarde's comments about the U.S. lawmakers' putzing around with the debt ceiling. The big down wasn't there - yet?? Is the game that the Republicans want a double dip so that the Democrats lose the 2012 elections?  Bad news, good action or was it just a delay?

It's now noon here in France and I had a great morning. Crude, Euro, DAX, all were weaker and tradable. Looks like reality is finally setting in. The answer to the question above was that it was delayed action.

The European afternoon went well too. Great stock index trading.

I'm not sure what chart to show today but I've chosen the Euro, as it was the "easiest" to trade. By easiest, I mean that the rhythm was good and the trend was consistent. I've added a Crude chart as I don't post those often enough.

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