The market tried to move higher this morning but failed to hold gains. This, apart from our warnings over the last weeks, there are two important issues to consider tonight; US employment data is being released. This will be a market mover and it could well be a big move. Secondly its a US long weekend. Nothing special about that although next week is officially the start back from the US summer break and tends to be the start of a weak period of time. With all the technical warnings in place we’re getting some seasonal confluence as well. I have hedged my exposure and will happily run that hedge for the near term whilst adhering to the system signals that I follow. I have had a few queries regrading this hedging but simply put I use the Share Price Index Futures traded on the Sydney Futures Exchange. Each contract is valued at approx. $112,000 exposure to the underlying market. Smaller accounts can’t therefore use this method but some CFD providers offer index related products that could be used.
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Phone: +617 5473 5743
Suite 1/ 21 Sleepy hollow Drive
Noosa Heads QLD 4567
AFSL 288200
Sat, Sep 5, 2009
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