Thursday, July 29, 2010

Watching carefully from the sidelines

We closed all our directional short ALSI futures positions yesterday.

The market is in consolidation phase, ZARUSD 7,35, Gold 1165 and DOW down half a percent. We are sitting on the sidelines at the moment and looking for a down leg to the market. When the break occurs we will start to sell short with all stops at 2 x ATR. (one MUST always have a stop on ANY short position)

A bit more later during the morning.

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