whiplash wednesday

back to sleep after that? hah.. couldn't do it.. lol.. snouted the trough once more.. :-)

Theres probably not a lot to say about the technicals.. that sort of momentum last night should carry over for a few days if not a few weeks.. xjo should boom cos of the implications for metals, oil and gold. The looming clouds of course are inflation and exchange rates... the usa will now get very inflated, and probably export that inflation to the rest of the world via commodity prices and oil... the usd sank heavily against the euro last night but oddly rose against the yen which suggests carry trade also boomed last night .. and the irony of the night was that the fed cut in official rates meant that the yields on bonds mostly used for mortgages (longer dated) all rose cos of the inflation impact.. and poor bugger me house owners are getting squeezed more than they were before the fed cut.. sadly, the same will probably happen in aussie... bugger!

Anyway, my trading account is up 54% over the last 3 months, and thats with some pretty inconsistent application to the craft... so I'm happy enough.