Nikkei…resistance starts @ last night’s high “13,720- 13,945”

USD/JPY…has gone from resistance @ 99.00 yesterday to Support @ 100.45.

AUD & NZD/USD…put in the same moves going from resistance to support during this
A.M. London lows.

General Comments or Valuable Insight

We’re going to get some big back and forth this month and I’m going to be patient
for areas I regard as “Go or No go levels”. These are levels which either hold or don’t.
They have the effect of being major market pivots.

We’ll continue to look for these types of levels to manage risk as with the DXJ yesterday.
We’re looking for singles, not home runs.

We’ll be Selling 40% of this trade on the NYSE opening and raising the stop
on the remainder of the position to break even.

The bigger game will be later in the month. Until then, trade on your own terms
and just chip away hitting singles.

Current Positions
Entry           Stop           Targets

Long DXJ            45.40      44.20         47/48.50 

Note…we always write a stop with any instrument we‘re interested in. As the instruments become profitable those stops should be raised to your entry level so you don’t lose money.

Short Term View…

Use the Chicago openings to help guide your trading.
It’s a new month and a new game.