daytrading nov 28 pre-market, page-5

morning HLL & fellow traders,

looks like I was right on friday arvo, when I suggested that our market was over reacting ahead of the weekend.

it looks very much like global traders are getting Europe fatigue, there was every reason on friday for the European markets to get smashed on the back of the Belgium downgrade, the horrific Italian bond auction, and further mumblings out of Greece of wanting to change their bailout agreement yet again, yet accross the board the European markets were higher even though the EUD was being smashed.

short term the markets feel like a coiled spring waiting to explode higher on any slightly positive news, yes longer term there are massive problems but over the next couple of days don't be surprised to see a rip snorting rally helped along by shorts covering positions.

it wouldn't surpise if the XJO opens up 60pts+ and remains strong throughout the day, simply on the back of rumours of Germany/France and this Stability Pact and also the healthy Black Friday sales in the US.