Extremes

We believe that any close this quarter above a level of 1530, will presage a major pull-back over the 2nd quarter in the region of at least 10%. We managed to avoid being stopped out once more this week, albeit by only 1.5 pts. With this in mind we will adjust our stop-loss to 1569, and set our target to any price below 1530, where we will take profits on 3 contracts.