Monday, January 16, 2012

Short opportunity and Closing Bell

EUA prices went sharply down this morning, which can be the reaction to the downgrade accorss EU delivered late Friday by Standard & Poor. Slide below 6.90 EUR created a short trade opportunity.

Prices went down to touch 6.60 on EUA Dec12 contract for a shortwhile, seemed to have found a support at 6.70 (which is the previous year's lowest) but also were capped below 6.80 EUR today.

We carry the short position overnight, to see what tomorrow brings.

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