During the session on Thursday, we will have a couple of announcements worth paying attention to. We have the FOMC Meeting Minutes coming out of the United States, as well as the Official Bank Rate coming out of the United Kingdom. Both of these will move markets on both sides of the Atlantic, and with that we think that today could offer several different opportunities.

Ultimately, we believe that the British markets in general look fairly positive. This is mainly because we not only see the FTSE as one going higher, but we also have the GBP/USD pair showing strength as well. Because of this we feel that anything Great Britain should do fairly well today. With that being the case, we have no interest in buying puts in any of these markets.

We believe that the US stock markets will probably be extraordinarily volatile, so you will have to be somewhat cautious when it comes to trading during the afternoon hours of the US markets. The markets overall have been oversold recently, so we think that the call buying opportunities will present themselves on short-term pullbacks. We don’t have any interest in buying puts at this point, because we have seen quite a bit of oversold conditions.

Ultimately, we think that you will have to be quick to take profits during the session today, simply because there are at least a couple of opportunities to have extraordinarily volatile conditions in this market. With fact, be careful today, but short-term charts should offer opportunities again and again.