Profit: -$1.03 Total: $1,021.16
Deutsche Bank was today’s headlines as the bank’s stock fell 6%+ which carried over to the equities having a down day. Investors are speculating if this will be another Lehman Brothers situation. The crisis has given the dollar and yen a boost today but interestingly enough, kept the euro barely unchanged. There’s talks about a bailout from the German government but there’s no definite answer. If the worst case scenario happens and the Bank falls on it’s own weight, I can see it bringing the euro down with it.
I dabbled in some trades during London but the markets didn’t start moving until NY. GDP numbers came out positive at 8:30 a.m. and the Deutsche Bank news drove the market into seeking safe havens. Volatility just happened too fast and I miss the grand moves. I need to be quicker and more nimble catch explosive moves that happens extremely fast.