Friday, November 5, 2010

weekly view.

It was a eventful week, we had vote on Tuesday and FOMC on Wed, then NFP on Friday. overall market up nicely. My short SPY position almost get stopped out, I probably will give another 1 or 2 % before I throw towel at it.

As for FX side, this week wasn't bad, I was down 10% last week, and made all back this week, now I'm about 30 to 35% game on my small trading account, will keep it going for the rest of Novemeber and increase size on Dec.

As of view on the market, I think EUR/USD topped and USD/JPY bottomed. If you look at EUR/USD vs. SPY, EUR/USD shows lack of performance. With the issues coming out from EU, such as Irish and Greece, I don't see why they can go up to 1.50 level.
Gold is on fire to 1390 level, if you long gold, it's time to take some profit, you can always jump in next.
That's it for now, nice weekend.

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