AUTOREFRESH 
Stocks give up gains; EUR/USD easing
By Jamie Coleman || October 21, 2009 at 19:27 GMT
|| 6 comments || Add comment
US equities have suddenly turned lower after trading up roughly half a percent much of the day. We’re now back to breakeven, which has helped give the dollar a slight lift. EUR/USD has dipped to 1.5025 from 1.5046 session highs.
1.5018 is very modest support while better support lies at 1.4980. Trailing stops are seen in the 1.4965 area, traders say.
Something about some bad news on larger banks, that has the sell off popped. Strange! I can’t wait to hear what’s up.
It is not Fed´s Tarullo´s speech is it? Earlier on the spoke before the Exchequer Club of Washington, DC, and outlined a 3-part regulatory response that would “enhance the safety and soundness of large financial institutions and thereby reduce the likelihood of severe financial distress that could raise the prospect of systemic effects.”
That should have been a positive thing…
I guess the market is afraid of its own courage, that´s all…
There are comments that real money clients have been buying US equity index puts for “Year- end protection”…
Makes sense. Option volatility is cheap…