08:00am   I shall be here in the study for a few hours this morning doing Skype calls and emails and then out for the rest of the day playing golf.  Back watching the markets on Tuesday after a long weekend break.

Market Update:

Big news for Thursday’s trading session here in Europe was Mario Draghi’s decision to cut borrowing rates in the Eurozone and this news sent equity markets higher on the hope that lower borrowing costs will give a boost to companies balance sheets. He also announced a 30% jump in his money printing exercise (he calls it Asset Purchase) so there will be a lot more money floating about and as banks will now be charged more for keeping money instead of lending it out due to the negative interest rates.

The initial jump in European indices was short lived however and the ECB then hinted that there would be no more decreases in the minimum lending rate so many traders (including myself) joined in on the bearish trend that ensued the German Dax-30 ended down well over 200 points after volatile moves which reached a point shy of the 10,000 mark. The U.S market did fall in line with European equities to certain extent but in the overnight futures market they have recovered almost all the losses and are looking quite bullish leading up to the open at lunchtime (UK time.

Trading Diary:

09:55am   Did get into a ‘long’ position on my S&P500 chart a short while ago using my trendFX collection of strategies.  My stop loss is 26 pips, slightly lower than yesterday’s risk but the markets are more quiet today.

11:15am   Off out soon so I have closed off my S&P500 trade at +31 pips.