Tuesday, September 04, 2007

Back from Summer Vacation

Today begins the final push for most traders. The last Quarter of the year after completeing summer vacations. The markets feel to me to be very similar to January. Alot of Fake enthusuasim. So far this morning I have witnessed alot of range trading and I expect more as the week progresses. Will the Fed cut rates? I am not sure as there are alot of numbers out before their next meeting. If Inflation is on the low side and weaker numbers come out.... then maybe. But if not think it will be difficult for them to cut, unless of a full market breakdown.

I am basically trading very short term (not my style at all) with smaller positions. I am trying to stay short Euro (long usd) until (if) the Fed cut's and then I will reverse. I am also looking for an area to short Gbp. I will let you know when I deciede. Otherwise I am pretty much out of the market (long small UsdClp in case of a blowup as it is cheap to carry).

Good Luck and Good Forex Trading.



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