- Yuan relaxation = commodities currencies explosion
- Telstra deal = 25 points on XJO
- Risk trade = back up the truck
Selmax gets his 4600 on opening. Hong Kong up 102357829368716277745666 on opening. My shorts burnt.
Although I'm still amazed at the SPX futures 12 big points above Friday's close on something that is "going" to happen as opposed to fact.
Perhaps this is the uber mega short squeeze that Volt called, with the short term top either today or tonight.
Despite highlighting all the negative headline risk, 2 positive headlines managed to appear over the weekend.
Not sure how long this euphoria will last, but I think the shorting camp is battered and bruised, and contributed to the 12 point premium and the 100 bps jump on the AUD. It should taper off throughout the day, and the best price you are going to get in the XJO is the opening 5 mins.
Mind you, the shorting opportunity will be short, and the pullback may only be back to where it closed on Friday, before resuming a more prolonged uptrend.
I expect markets will be well bid throughout Asian period, and have an explosion led by commodities and the Euro leading into Europe and CBOT openings, before the market digests the information and resumes price discovery.
SPX is a short, but closer to the European open, no telling how many points Hong Kong is going to explode by this morning (where's my bandaids)
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