I posted this in a reply to Sunny in the comments, but it is worth repeating:
the thing to keep in mind about Monday morning (and I say this every week in my opening post) is the relative lack of liquidity – it means prices can move a long way on news etc., much further than what you would expect at ‘normal’ times of the week.
This morning it meant a sharp jab from 103 to 102, a hundred point drop, and its now up 80 points from the lows. Some of you may have seen the documentary about Paul Tudor Jones (‘Trader’ – there was discussion about in the comments last week) and noted his trading activity on Sunday afternoon/evening, US time. i.e. Monday morning in New Zealand/Australia. We might not all be Paul Tudor Jones, but a good Monday morning can be a nice kick off to start the week.