Crazy Price Action This Session...
Wow! Price action has been crazy this session so far. That tells me the market may be illiquid until the rate announcement from the U.S. Wednesday morning and GBP MPC minutes are released later this session.
Sunday Starts Early...
The session got off to a roaring start today and didn't let up. Cable and Geppy both plowed lower from the opening bell in New Zealand. I didn't find much opportunity from a couple of hours before the London open through the lunch hour. I managed to scalp off about 25 pips on trades I thought had a decent chance of turning into a retracement moves on cable. No go. I've been concentrating on cable as my main focus lately. It might do me well to head back over to the geppy camp. It's been running pretty nice the last few sessions. I'll be keeping a closer eye on it this week. It's looking like the GM news of the Obama Administration rejecting their latest plan, yet offering more cash for restructuring(though not through bankruptcy) will take it's toll on the U.S. market Monday morning. Futures are already in substantial negative territory. There is a long shot outlook that the market could view it as a positive in that possibly more of the deadwood that's
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