LS Trader Weekly Update

Last week we exited the British Pound/USD and the 5 year T note. The British pound exited with a loss but we banked profits from the 5 year T note. The 5 year T note was actually an excellent trade which we had been long since we entered on the 10^th November 08. We rolled in to the March contract on the 26^th November 08 banking 311 points, which when added to the profits from the current contract of 189 points, brings in a total profit of 500 points.

This week there is 3 new trades for the LS Trader subscribers.

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The LS Trader Financial Spread Betting Weekly Update

Stocks

The stock markets rallied sharply from support at the current contract lows. The S&P 500, which is the main stock market has found support each time it has declined towards the 800 level. The current rally may run in to resistance at 875 which if resistance holds we should see a move back towards support at 800. This for now remains the range with 875 up and 800 down. A break of either level should lead to movement in the direction of the breakout.

Wall Street posted a new contract low on Thursday at 7800, but as with the S&P, there is currently buying interest at those levels as the market moves higher each time it falls to that level. The long term trend remains down in all the stock markets but we are always likely to see bear market rallies as we have seen in the past week.

Commodities

The current rally in the April contract may head up to a test of $950. If resistance at $950 can be taken out we should see $1000. We are seeing some new strength in the metals markets as well as some of the other commodity markets. I am confident that there will be some good long trends this year in some of the commodity markets, especially metals and soft commodities.

As I wrote last week, Crude Oil has again stayed in the range between $40 & $50. These levels are still the key levels break of either should yield movement. Crude has tested $40 several times this week and each time buyers have come in. If support at $40 does eventually fail then we may see a move lower to around $35 in the weeks ahead. Natural Gas continued the long downtrend and yet again posted new contract lows.

Currencies

The US Dollar was down for the week against most of the majors and the Dollar Index may decline a bit further this week but we should see support coming in at around 8400. If this level holds then we remain on track for a test of 8800.

Interest Rate Futures

This week we exited the last of our long Interest rate futures trades. Our long interest rate futures trades have all been profitable for us and as I have written previously, we are starting to see some signs of a long term trend change in these markets. For now we will stay on the sidelines and see what unfolds.

Good luck in your trading

Kind Regards

Robert Stewart

www.LSTrader.co.uk