In the previous trading session I had no positions.
I was 100% in Cash.
In today's trading session US markets sold off after opening and staged a small relief rally towards the close.
Some investors were bottom picking at the end of the 10th day of the market crash, and speculators were Short Covering in anticipation of intervention to show its hand next Monday.
Intervention by the Obama administration is what we have to see starting Sunday August 7th when Forex markets open at 6:00 pm EST, for it is necessary to soften the blow when stock markets open on Monday August 8th, 2011.
Article - "United States loses AAA credit rating from S&P"
http://finance.yahoo.com/news/US-loses-AAA-credit-rating-rb-2187330642.html;_ylt=ArAq8oq5uOGNw9RnX9FZDSa7YWsA;_ylu=X3oDMTE1aDBmcnEzBHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNzYW1wcG9udXNkb3c-?x=0&sec=topStories&pos=main&asset=&ccode=
Article - "United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden; Outlook Negative"
http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8&sec=topStories&pos=1&asset=&ccode=
This weekend will be the most important two days of my life and career as I plough through all the data and come up with a Thesis and Game Plan.
Our highest risk speculative commodities futures and forex portfolio was stopped out of our postions on 2011-08-01st (Mon) and I suffered losses but next week we will trade ourselves to profit.
Our first line of credit was activated on 2011-06-16th (Thurs) and our second line of credit was activated on 2011-06-29th (Wed).
Total equity is 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-05, 22:48 pm EST)
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