The week that was:
So Thursday and Friday certainly gave us something to think about with Obama upping the ante on the war against the bank in the U.S. Then again they have to expect some sort of reaction after brining the world to its knees and putting their hand out for assistance.

From a trading point of view these “news” events are always annoying as they disrupt nice trends and wash out stops, but they do provide our next base to move forward from. Whether the selling is limited to just these few days we will know soon enough.

FX:
With the FX markets still countering the major trend I’ve sat on the sidelines for another week although the were some better moves starting to shape up, so it’s time to get my head back in the game again FX wise. Hopefully this shake up of the markets will allow people to do some decision making and pick a direction to trend for a month or two.

Equities:
The churn of the sell off caught me in a few new mid term positions I entered early in the week, one on U.S. market and one on the ASX, both of which stopped out, including a little slippage due to gapping on the ASX open. A second trade on the US market stopped out on Thursday for a break even trade before selling off much further on Friday, stops are brilliant, use them. Having kicked off this system after this recent move was already underway washing out of trades is no big deal. Having feedback from how the trades went to move forward on the next rally is better than crunching numbers in your backtesting software any day.

Equity Sectors:
Some possible setups from the selling into this move that I’ll be keeping an eye out for, what you lose on the selling you make up for on the rebounds.

Commodities:
Still cruising in my one now long term trade, no new actions.

Results:
FX : R
Equities : -2.0R Mid Term
Equity Sectors : R
Commodities : R

Housekeeping:
Just keeping out of the way for the moment & waiting to see what the market brings.

The week ahead:
FOMC week but no huge changes expected, plenty of housing and GDP news to fill the week though.