2011-07-25th (Mon)

At the end of the previous trading session I had the following positions;
Long 300,000 USDJPY with ACB of 79.438
Long 300,000 USDCAD with ACB of 0.95915

In today's trading session US markets fell mostly due to the impasse of its debt ceiling talks.

Article - "Obama: Halt '3-ring-circus,' avert US default - Obama appeals for debt-limit compromise; Boehner says GOP sticks by its spending-cuts bill"
http://finance.yahoo.com/news/Obama-Halt-3ringcircus-avert-apf-2668049096.html;_ylt=AudBjPatxYHwgqCPOp.yFhSxba9_;_ylu=X3oDMTFkdjM1NzZtBHBvcwM1BHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA29iYW1haGFsdDMtcg--?x=0

Europe's debt problem although much larger than the US will take a back seat until August 2nd, and some are saying the deadline may be pushed further to August 15th.

Article - "Europe’s Troubled Economies Join the Rescue Team"
http://www.cnbc.com/id/43880026//

Our portfolio equity continues to decline as the US Dollar weakens against the JPY beyond Year 1995 levels, and the US Dollar weakens against the CAD approaching Year 2007 lows.

This week will be a full testing of our resolve as we wait for events to unfold.

Article - "Preparing for worst as debt-limit talks drag on - With debt-ceiling deal elusive, investors look for hiding places, and find precious few"
http://finance.yahoo.com/news/Preparing-for-worst-as-apf-745849065.html?x=0&sec=topStories&pos=1&asset=&ccode=

Our Stakeholders are divided in opinion, and understandably so given the circumstances.  In my experience when emotions run high it is a sign that the market is about to turn.  In this case we have a date of August 2nd to look forward to if it does not get extended to August 15th.

Currently I have the following positions;
Long 300,000 USDJPY with ACB of 79.438
Long 300,000 USDCAD with ACB of 0.95915

USDJPY is currently at 78.035 (2011-07-26, 02:04 am EST)
USDCAD is currently at 0.94407 (2011-07-26, 02:04 am EST)

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
(2011-07-26, 02:05 am EST)