Tuesday, April 29, 2008

Rate change blues? - IFCN Wk 21 -Tue- Equity: $714.10

A number of big reports will be out tomorrow. Not the least of which will be the FOMC Statement report @ 14:15 CST.  

It is common for the day preceding the "big news" to have a lot of action, and today was a good example.  The pound lost a lot of ground to the dollar.  We'll see if tomorrow how well the market has anticipated the Fed's actions.

At last we entered our last two FirstStrike trades for the week and since one of them got stopped out quickly, we are only left in one trade, short the Usd/Jpy.

Tuesday's trades:
  • Long Usd/Chf @ 1.0388, stopped out @ 1.0328 for a 60 pip loss.
  • Short Usd/Jpy @ 104.02, stop 104.62. Currently at a small profit.
Any FirstStrike trade not stopped out before Friday gets exited on Friday just before 15:00 CST.

Current equity is $714.10.

Have a good night.

Joel Rensink

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