Thursday, June 26, 2008

Long USDCHF

We are long USDCHF here at 1.0270 because we couldn’t get filled lower despite our charts going lower. Regardless it seems like a solid position and we’ll hold for a day or near close of Friday; tomorrow.

Tuesday, June 24, 2008

Catching falling daggers is not good for your health

I know I know. Catching falling daggers is not good, but look at what we’re forming down here on S&P. It looks like we’re forming a bottom. If we can hold today’s low and move above 50% of yesterday the trend is dead and we should be looking to buy until we get near 1330. Then reassess. This might be the low of the year right here. If this is not the low of the year I would be looking for it in the next few weeks.