Current Market Surge

What's fueling it?

My $5 per pip ???

lol

Holly molly! has anybody found a new about this? huge movement for Tokio session...

I heard something about cybermonday.

But its Tuesday

I had 5 in too! It had to go!

The fuel:
http://online.wsj.com/article/SB1196...googlenews_wsj


And one reaction thus far:
0339 GMT [Dow Jones] Abu Dhabi Investment Authority's US$7.5 billion bail-out of Citigroup shows desperation, says senior institutional trader at major U.S. brokerage. "They've avoided a discounted equity issue by selling convertible equity units at an 11% interest rate. That's massively high. It shows they were
super desperate for funds." Notes 2-year U.S. bond yield of 2.88%, 10-year yield of 3.84%. "Citigroup have had to go out and offer 11% to get their hands on US$7.5 billion. It's good news, but it's bad news as well because it shows how deep these problems are. That's quite an extraordinary rate." Australia's S&P/ASX 200 has retreated to 6414.60 after spiking up from 6350.0 to 6440.1 on the news, suggesting there's fear that Wall Street might not sustain initial positive reaction to Citigroup bail-out. DJIA futures currently up 0.8% on
Globex. S&P 500 futures up 1.0%. (DWR)

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(END) Dow Jones Newswires


Typical short squeeze market over-reaction, we'll see a lot of these on the way down, they're best faded.

Not in Canada

Sorry ......I sometimes forget that there are other countries than Australia.