Showing posts with label euro crash. Show all posts
Showing posts with label euro crash. Show all posts

Green Monday Streak Broken

Posted On Monday, May 17, 2010 at at 10:55 AM by Finance Fanatic
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I was very surprised to wake up this morning and see that my stop losses had hit for my couple longs I bought on Friday before close. For 12 weeks straight, I believe, we have seen a green Monday to open up the week. Many people felt that seeing green to start the week was a sign of a return of investor's confidence, as confidence would supposedly build over the weekend. Well, whatever was the reason, the streak was quite impressive and draws a lot of questions from me, considering the trend was broken today. Sure, nothing too significant can be drawn, however, it is another sign for me of weakening markets and a shrinking in consumer confidence. PS... I think EUO (see above chart) is definitely one to consider in the short term. The Euro is struggling.

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