Tuesday 03 November 2009

Well we survived yesterdays full moon :)  The only thing that is certain at the moment is the volatility. 
The indices are at key levels on trendline support from the March lows and there seems to be quite a battle raging.  The Dow Transportation Av and Russell 2000 have clearly broken the support lines, and have double topped.  Overseas the Nikkei has broken out and the Dax has broken from the bull channel.  The others are putting up a fight now.
EURUSD sitting on similar trendline support needs to break out to show the way.  At this point I would not be surprised if the market rallies setting up some shorts for NFP and I am prepared to cut my positions and re-enter if that happens.
Because today is ..... "Turnaround Tuesday"

I left an order short last night for NZDJPY which was filled.  The weekly has broken the rising trendline support from the lows.
Today I will sell Cable, AUDUSD on breaks of support lines and look to add to my existing positions if the indices look weak.

NZDJPY short 64.99 stop 65.19 - see chart
GBPUSD short 1.6349 stop 1.6389 - hourly trendline break
AUDUSD short 0.8998 stop 0.9028 - hourly trendline break
CRUDE short 77.98 stop 78.38 - addition
CRUDE addition banked 50% @3xR 76.78 (+1.5%)
GBPUSD stopped out (-1.0%)
CRUDE addition balance stopped out (-0.5%)
AUDUSD banked 50% @3xR 0.8938 (+1.5%)
NZDJPY stopped out (-1.0%)
AUDUSD stopped out balance (-0.5%)

Open Positions:
CRUDE short 80.85 stop 81.15
EURUSD short 1.4980 stop 1.5010
AUDCAD short 0.9820 stop 0.9845
AUDJPY short 83.81 stop 84.21
EURJPY short 135.70 stop 136.10
GBPJPY short 149.90 stop 150.30
USDCHF long 1.0190 stop 1.0170