European Union PMI numbers

We have several different PMI numbers out of the European Union and Germany, so it’s having an effect on what to expect in the marketplace. There are going to be a lot of trading opportunities in the European Union, but given enough time we believe that the rest the world will also offer some minor opportunities.

Silver falls again

Silver markets fell rather significantly during the course of the session on Thursday, but remained well within the consolidation area. Quite frankly, we are just going to wait until we get some type of bounce in order to buy a short-term put. We have no interest whatsoever in buying calls.

CAC bounces

The Parisian index fell significantly during the course of the day but turned back around to bounce and form a significant hammer. This hammer of course is a very bullish sign, but given enough time we believe that the sellers will come back into the market, offering a put buying opportunity. With this, we are simply waiting for exhaustive candles to get involved.

USD/CAD falls apart

The USD/CAD pair fell rather significantly during the course of the day on Thursday, but quite frankly there is still plenty of reason to think that this market will bounce. Having said that, it’s very unlikely that call buying can be done today. We believe that the 1.40 level below is going to be very supportive, so we are waiting to see whether or not we get some type of supportive candle between here and there to serve buying calls. At this point in time, short-term put buying could be done, but quite frankly it will be the dangerous way to play this market.