MSFT YAHOO takeover bid has reinforced the Rally and world markets all over bounced back Monday. Risk appetite has improved a bit and carry trades have lead to upswings in EURYEN and GBPJPY overnight.
Inspite of very poor NON FARM numbers Friday, US Dollor has garnered strength and Gold is down testing supports. Indexes are all within reach of testing resistances. $VIX is right at the top of wedge and likely falling down and headed for 20.72 ( 200 MVA )
Economic calendar this week is almost devoid of any market moving numbers.
We have opened two new trades this morning ..... our favourite RIMM and FMCN (Trades # 9 and 10 of 2008 Project M)
Good Luck ahead.
Harry
14:50 Afternoon: We have opened another trade in AAPL ( Trade # 11 ). Markets are direction less and vibrating away, looking for any clues from the ongoing Subprime and ABCP saga.
