Closed position

A short @ 946 was triggered as of 02/06/09 , with a stop at 976.

In order not to let winner into a loser after market was visiting 923 ,the stop was
moved to 944 and today we got stopped out. So trade is +2 points.

Good trading

Market update

As I suspected the market couldn't breakdown 880 and rose above 940 area.

At the moment , things are very shaky.
We are in extreme situation where usually market reverse and start the down move.
On the other hand , this is a bear rally which can lead to a trend change !

I lean on the downside but the current environment is not suitable for trading the both sides , till we get a real clue of where market is headed. That would be for a start a close below 920.

The USD index is very close to reverse and that may help the market to reverse but you can never rely on correlations like this as they can stop "working" at some time.

Good trading

Closed position

I decided to close the short position @ 895 since I suspected there will be
another up leg attempt towards 950 area as I didn't want to undergo more than 5% draw down.

At the moment , it looks like the market topped out.

Good trading