Regular readers know I hate to trade on Monday’s, but today the bias (atleast mine) is for an upside move. I think we’re going to take a short break from the selling, step back and listen to what European politicians try to sell us, and start looking at the advantages of oil pulling back. My short term assumptions this morning are:
This Morning: “The European markets are dipping this morning, not exactly plunging like yesterday CAC40 (-1.4%), FTSE (-0.5%), DAX (-0.4%), not yet in any case. The banks continue to fall with BNP down over 7% on rumors that they can’t borrow dollars.” Now: The European markets and the CAC40 (+1.13%) in particular have closed in the green. All that fuss about BNP went away with one press release.