In yesterday’s session we took off the rest of our long exposure in the SPU & NASD futures. Those of you that had Miners or AAPL either took it all off or are down to 25% positions with trailing stops. AUD/USD… traders should have taken 30% of the trade off to pay for the stop.

Today….another unemployment shuffle…Typically you get a break in the metals that turns out to be a good trad-able low for a few weeks. The only true compelling # for me is 1502 ( the qtrly close). Any numbers coming back down ( 1520 ish or the mid teens) are all levels that can hold. Once again, it becomes a subjective price action trade to see where it holds. I am looking to buy a good break with a tight stop.

I have no interest in chasing Equity strength at these levels. The Aussie is your surrogate long exposure to the Stock Indices. Price action over 108 AUD/USD ( particularly a close over 108) is price positive. ( 107.10 ish Sep Futures)

Model Trading Portfolio…Current Holdings

Time Horizon unknown

Long AAPL….25% of total position left

Long EWH….25% position