On the share market there have been a few short term moves up – Alexion Pharmaceuticals, AON and Prudential were our best opportunities. However, we remained on the side lines. In hind sight these should not have been missed. Greek issue makes me doubt the signals.
With regard to the foreign exchange (FX) pairings we had no signals to take meaningful advantage of: EUR and GBP gained some ground yesterday in anticipation of the possible Greek news this weekend.
Light crude oil gave us a small gain of £364. However, the move wasn’t strong enough for us to stay in the trade.
We bought at the green and sold at the red.
Greece continues this weekend with key decisions. There are many good articles about the current Greek situation and the possible ramifications. News, and the subsequent emotions about the news, is what moves the FX in the short term. So to that end, as we cannot be reasonably sure which way it is going to go, we are out of the markets again this weekend.