Fundamentals

At the risk of sounding like a stuck record, the markets are completely ignoring economic news on the hope of more monetary stimulus. However, whether it be last week's UK industrial production or China's trade position the numbers are pointing to a severe slowdown that we feel has to be factored in when the only stimulus being offered thus far is that of rhetoric. We are continuing to hold our short position and this week will add 3 more short contracts should the market rally up to 1413. Our target for the week is 1370, where we will take profits.