Wednesday, 1 July 2009
Trade Update: S&P 500 short @ 931
We have executed a substantial short position on the S&P500, the motivation for which was extrapolated in yesterday's post. Essentially yesterday's 934.1 entry has become 931 today, as is the nature of a descending resistance line (highlighted below in red). We will look to hold this position for the remainder of the trading day. We will close the position, at the very latest, before the ECB rate decision tomorrow- 1245 GMT - and non-farm payroll data at 1330 GMT.
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