FKLI 5th Aug 2009

Sorry for not updating, was busy.

As yesterday,
short position still holding, cut loss at 1180

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

Outlook,
still bear but in critical stage.
possible market might be sideways.

Strategy,
if FKLI >1182, bullish, turn long, cut loss at previous 15 min bar low - 3 points.
if FKLI 1179 < x < 1170, stay out,
if FKLI <1169.5, short, cut loss at previous bar high + 3 points.

Monitor,

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.