Day 3
Situation:
U.S. Markets: up bigtime but facing first resistance … Carrytrade and shortcovering leading the way
Asian Markets: up …
Currencies/Commodities: Yen losing further ground against the Euro … Oil stabilizing a bit after losing 4$ yesterday
Events: US … PPI, Retail Sales, Bernanke speaks
Dax: underperformed yesterday … 7850 7830 should lend support today … resists: 7920 … 7960 … 7990
Ideas: To use the initial euphoria to initiate a small short … then play the Gaptrade … if we reach 7850 … will try a long there to carry me to a higher high (7960?)
Tags: carry trade, daily outlook, Oil
