Thursday, August 4, 2011

Morning update

Surprise surprise, futures down big.  Gold and treasuries up. Euro getting hit -- ECB left interest rates unchanged and traders buying USD as safe haven.  Obviously should have bought some EUO ahead of ECB, still looking nice, will build a position today. 

Unemployment claims out at 8:30 -- expecting 403k.

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Update: Claims not that bad at 400k.  Market doesnt care, still down big.  Euro getting whacked.  Gold going parabolic.  Bought EUO pre mkt -- ECB buying Italy bonds, basically ramping up their QE initiative.

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