Intraday Market Thoughts

Archived IMT (2008.09.22)

by Ashraf Laidi
Sep 22, 2008 5:24

USDJPY 4-hour Chart bears the signs of the beginning of another extended sell-off, whose initial target is likely to emerge at 106.00 and 105.60. While everybody having access to a TV station has heard of the $700 billion govt purchase of bad banking debts, even the pros are not sure of the details of the plan, or which banks and credit institutions will be eligibile to sell their debt. Same goes for which particular companies could qualify for the short sales ban aside from the "financials".


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