Posted by: jhamon | October 2, 2009

MysteryHedgie Calls the Lines in the Sand…

MysteryHedgie Calls the Lines in the Sand…

Everything to its trendline….With this morning’s well telegraphed (thanks, GS!) weak NFP, the SPX and Copper have both traded to their “uptrend lines” drawn from the spring lows, while the US$, DXY has traded to its downtrend line (see below).

The lines have held… If you were fortunate enough to have hedged profitably over the last week as we suggested, consider “ringing the register” on a portion of your hedges. If the bear case has merit it must reassert itself quickly, before the Q4 bullish bias materializes.

October is rarely dull, and the next week will be no exception… the trends remain intact but the lines are clearly drawn.

Line in the Sand: Dollar's Down Trend, SPX and Copper on their uptrend lines

Lines in the Sand: Dollar's Down Trend, SPX and Copper on their uptrend lines

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