Good day,

Please accept my apologies about lack of data yesterday from about 6AM EDT through to 1PM EDT. I had massive locking problems on my internet connections. Not too sure why I have numerous Cisco Business Style WAPs around the house so that signals on the network are strong no matter where you are inside the house or out stand to about 20 metres from the terraces etc. My trading room is hard-wired as well as wi-fi.  I re-booted and re-booted..get the picture......I eventually changed the router. We have a back-up generator that has been in action a little of late with all the storms taking out power, maybe the nano second transfer time has eventually taken its toll on the device and waved its white flag. Anyway, I changed the router and all seems good so far.

<span style="text-decoration: underline;"><strong>OVERVIEW:</strong></span>

After missing about 99.9999999% of the action on the back of BULLARDS comments yesterday, we went into a period of stagnation again. NZD (Trade Balance) news didn't really do much last night and through the night we have seen a little bit of JPY and USD strength.

The CAD is trading very heavy, but a word of caution is required. I was expecting quite a drop as we broke below 1.0700. It never really happened and now we are consolidating to a point. It looks like we will go lower but I am not 100% convinced. I am set up for it, with my trades USD/CAD short and CAD/JPY long.

I added further NZD/USD and AUD/USD  shorts to my trades, as well as adding to my existing NZD/USD short near the highs last night.

In addition, I took the EUR/GBP short a few hours ago. There is a compelling reason for this, which, will feature in tomorrows WEEKLY FX DRIVE THRU blog....

The equity markets look tired at these levels, it is becoming very difficult to see how much further they can go.

If it were not for U.S. companies repurchasing stock, who is actually buying shares? The only reason companies are doing this is to improve EPS at the cost of re-hiring.....eventually the chickens will come home to roost.  Most of the charts are looking exhausted to me. I know that I have been on this soap box for a while but there is so much headwind coming up there should be a deep correction soon in my opinion.

<span style="text-decoration: underline;"><strong>TRAINING:</strong></span>

I had a request from Aroon (UK) for some help on POSITION SIZING and RISK MANAGEMENT. I have had two responses to a webinar on this subject so far. Unless numbers increase I will do this privately with Aroon  over SKYPE or FaceTime. I will close the webinar option on Sunday night.

<span style="text-decoration: underline;"><strong>TRADES:</strong></span>

Live in 13 trades......no limit orders.

I want to say at this point, the USD/NOK and USD/SEK. I was so tempted to chase these earlier in the week and did not. I know that Yang (HK) , Svetlana (Berlin) and Raul (Brazil) all three of you did and congratulations. You were about 2,000 pips to the positive last I heard...well done guys.

Take care trading today, it's a Friday and getting closer to the month end positioning.

Scott