04 March 2007

Perfect Storm

Definitely one of the more action packed starts to a Sunday overnight session I have seen in a long while. The Japanese Yen gapped right out of the gate and is currently trading up 1%. U.S. equity futures breaking last weeks lows as I type on decent overnight volume. The 5$ Dow -56, E-mini S&P down 6 @ 1379.50 and my favorite trading vehicle the Nasdaq E-mini futures -7 @ 1719.25. Looks like another wild ride in the morning...we still have the Scooter Libby verdict in the near future, perhaps by late afternoon. I held onto to some of my QQQQ March puts, dumping parts into Friday afternoons limp home and a greater portion after the bell when the selling really intensified at about 4:11 p.m. in the futures. I'll probably just blowout the final quarter in the first fifteen minutes of trade if we open even lower than we are now...jfg.

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