Dislikedwhere are bears.......am gettin tired of this overbought talkin....
.Morgan Stanley shorts EUR/USD at 1.3300 and will continue selling on rebounds. "Though a finalisation of the Greek bailout and PSI deals has spurred near-term optimism, we warn that implementation risks still loom high. Furthermore, harsh fiscal austerity risks putting a number of European peripheral countries into a deep recession, pressuring debt/GDP ratios higher." The euro also faces downside risks to the upcoming 3-year LTRO next week, MS says. From 1.33,...Ignored
1) Every such large institution usually trades both up and down, depends on which division is trading what kind of instruments and how they manage their risk and how they hedge their positions.
2) More importantly, you can pretty usually take such reports as very efficient contraindicator - if GS recommends to go long/short, you can be almost sure itīs a good time to do the exact opposite. You have to understand - they donīt want YOU to win, THEY want to win and need a few suckers to take the other side of their trades...
Quant Hedge Fund CEO
