EDGE TRADER

Monday, June 12, 2006

Horrific

trading action today. The open traded sideways until about 1 pm at which point everything decided to go into the collective toilet. The timing of the major breakdowns in all the markets (just after 1pm) smacks of margin call induced forced selling. I for one cut my stake down to about 7% long in the ill-timed IFO trade about 3:20. In a normal market environment, I would expect to see it gap up tomorrow, but this isn't a normal trading environment, so I decided to cut my bet size.

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