FKLI 3rd Aug 2009

As yesterday,
Short position still holding.
stop remain at 1180 levels.
i manage to roll my position at the same price @1174
previous july contract settle at 1166.5
profit 7.5 points/ lots

Results:
3 safe, 0 con, 9 losses, 3 win.
as total: losses.

Outlook,
Bearish, but expect some rebound on monday. looking at 1172 levels

Strategy,
if FKLI >1178. short position cut loss.
if FKLI 1162 < x <11 78, hold short position.
if FKLI <1162 on 15 min closing, short, cut loss at 1170
if FKLI <1158, short signal, short, cut loss at previous 15min bar high + 3 points.

Monitor,
Dow JOnes +17

Nikkei morning trading

Monday, Construction spending and ISM at 10:00,Auto sales in the afternoon. Foreign exchange rates will be released

Tuesday, Pending home sales and Personal income. Testimony from FED governor Tarullo on tuesday regarding bank supervision

Wednesday, ADP employment index, ISM services and Factory orders.

Thursday,weekly Jobless claims.

Friday Non-farm payrolls, the Unemployment rate, and Consumer credit.