EurAnalysis

Hopium is still in the air. S&P futures still in the 141x range.

all on ignore. I am surprised you are chatting here. Press conference is still on.

T

So that s quite odd . all the news from draghi was leaked and nothing new . so it did manage to hold the top levels firm still . USD rocks with levels 1.263.. to 1.266.. is too strong to break without a strong retrace .

UPDATE: ECB Reveals Bond Plan, Offers Looser Collateral RulesDJ Newswires

The way this is going. I am selling down off every quarter mark and buying every quarter mark. Makes money but sheeesh. This market going down is like pulling teeth.

The BB have to be buying to limit downside just enough to keep a up trend. Yep conspiracy.

cgb,
Crude just exploded again!

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S&P about to hit year high again. Now at 1418.68

So, as we knew. "New" bond buying programme with conditionality. 2 legs blah blah, governments must help. I still dont understand to this conditionality talks. Spain obviously didnt meet any conditions yet short term bond yields keep on falling down.

Who´s got explanation? Me and Mr. Financial Engineer Draghi.

Watch those 2Y bonds.

http://www.forexpros.com/rates-bonds...aturity_to=130

No QE should give ceiling to equities here.

Overall, down we go and my entry may not get hit. Still the same money flowing in EU, but less money for equities now. Regarding equities, SMP stopped.

T

Bad numbers, it goes up. Good numbers, it goes up, QE hope, it goes up! No QE, it goes up. Best investment ever.

What a complete joke.

I know, I'm watching. Crude inventories at 10AM EST. They are expecting a drawdown of 5.3M compared to a build of 3.7M last report. That would be an actual drawdown of 9.0M over 3 weeks. Not good for economy on one hand, good on the other (high price for crude, but economy is moving and using crude).

I'll be laughing when I see it below 1.2000

My target is 1100 on the S&P. Would be a great short right now as far as risk/reward IMO.


Edit: I thought you were talking S&P.

Draghi's economic assessment of the Eurozone economies confirms a recession and no impending intervention other than if/when struggling EuroZone countries engage in a full macro-economic program with the Troika via the EFSF/ESM

Therefore it's no magic pill. More like a shelved program to use if/when the time is right. It will only server to deter the doomsday trade but will not help the underlying economic fundamentals which are (excuse my French) Taberfooked

The only take away from this that puts the market at ease is that the program addresses the creditor seniority issue and that there is no set time or quantity limit to the program.

Next risk event events are all related to the QE3 sentiment.

ISM Non-Mfg PMI at 14:00 GMT and the official government released NFP numbers tomorrow.

ADP NFP numbers today showed that the chances of QE3 so far are diminished. Let's see what the rest of the data suggests.

German economy ministry says ECB bond buying cannot be permanent solution, structural reforms must have priority.

I think we need to go below 1000 to completely burn the thought that the markets are "OK" and this is just a correction. By the time we drop below 1000, it will be too late to react and nothing the FED will do is going to help. IMHO.

1.2560 being a pain in the arse again...

Yep. It bounced right off daily range low.