Just a further clarification note - Because of the currency swap (in billions) this month would be the only month (short term - next 3 months) that BoE would be able to print any more money - I think M King would err on the side of caution and print some extra anyway even if they have enough to meet demand (which I dont believe they have). A Darling and G Brown met up with M KIng ahead of MP meeting. I reckon it was to discuss numbers. Further PMI news on manufacturing has only been better because input has probably dropped - which is the next bit of news thats going to come around.
A little note on services PMI improving. I believe this only improved because there was an increasing backlash of local customers complaining about reaching call centres located abroad. Some businesses had started bringing some of these back in to keep services going but the general trend should be down (job losses increasing) - which is what I would expect in next months PMI. As far as stock markets this is a bear rally (quoted Soros) and now should be on the leg down. For those of you who have made a profit - sell now and sit tight for another 3-4 weeks.
I was once told: "System = Method + Money Management + Trader"
Ignored
so much for my noble words :rolf: ... seriously, it is the truth.
I'm vioulating my own rules for prestige... but it was my last trade that I will probably post for about a month... I'm on leave & btw already @ the pub.
out @ -100
happy trading to all have a piptasttic day/month trading.
Cable Update (GBPUSD)
