Hello All,
The Group of Twenty meet this weekend in Toronto to discuss the world's economic health and what actions are necessary to stabilize the global economy. Needless to say, the protests have already begun and given the downward bias in stocks this week we may press the issue tomorrow or simply stabilize at current levels to end the week. The trend
has been more than a friend as of late, so we'll continue as planned.
1) Hold Sept. Emini S&P shorts from 1089.50, lower protective stop to 1086.50. Add shorts at 1077 using the same stop. Exit 1056. I anticipate the bulk of trading to be done prior to lunch, so we may want to go flat if the market stagnates.
2) Hold Sept. Euro longs from 1.2274, with a 1.2280 stop. Exit 1.2389. We bought in almost perfectly, but investors may not want to hold any long positions with G-20 this weekend and all the attention around the PIGS. We'll peel off profits if we can reach our first target and look to re-establish a position next week.
3) Aug Crude Oil - our entry was off target and the risk/reward isn't there given market correlations with the Euro and S&P. We'll stand aside for tomorrow and observe.
Best,
Arman Vahdatinia
Futures & Options Strategist
1-877-338-EXPO [3976] ext. 25
www.ExpoFutures.com
*There is a risk of loss trading futures. Past performance is not indicative of future results.
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