Two comments in currency land this a.m.

1) The Aussie @ 100.19 cash has printed my initial target

for this short swing from yesterday. The futures fell 10 ticks

shy. There is a possibility of another 30-40 points before price

rejection. A close over 100.50 in the cash Aussie and we’ll have to

re-examine getting long again. “The original plan was a close over

100.05, but the way the numbers set up I will give it more leash”

2) The Euro has a double bottom monthly and weekly pattern in place.

134.40 was the retest of the outside reversal weekly pattern which took

place on the 3rd. The next macro area is 136.20-30 ish. This area

would be a re-test of the monthly pattern with corresponding big Fib matches.

You should get price rejection the first time up.

There is a big difference in trading to make money and trading to be right.

Between now and the end of the year it’s trading to make money mode.

Our longer term core positions ( trading to be right) we’ll try and leave alone.