A.M. Look 4/14/11

More one way bets are being taken off. I would look for at least another figure in EUR/JPY, 118.50 level seems the first good sticking point. We still want to put the cross on around 117 ( long Euro/Short Yen)

Metals …1444 Gold and 423 Copper are the key closing support levels.

Oil..104 is still the macro pivot. 107.50 is closing resistance.

We were stopped out of our short Bond/Long TBT position yesterday. The SDS ( stop close only order) was not elected on the close yesterday. We’ll monitor the S&P’s for a while to see if we’re still interested in doing that trade.

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