Date: Friday, June 25th , 2010, for the Week 21-25 June, 2010
Released: 19:25 CET

Managed Accounts Weekly Performance

Difficult week, but we come out on TOP
It has been quite a roller-coaster week indeed. Technically speaking, we’ve had many ‘so-be’ break-outs that have led to nothing, many false attempts to start a trend, and continuos stop-hunting across the board, mainly in the JPY and CHF crosses. That has made the week complicated, but we’ve managed to make some pips out of it.
Weekly result (June 25th, 2010): +2.15%
Monthly Cumulated (June, 2010): +9.77%
Year-to-Date: +25.93%
Note: Above results are for 1:1 leveraged accounts, which meet the equity criteria. Lower amounts will see greater leverage being effectively used and greater fluctuations, and thus risk, will be seen in their accounts. Past performance is not indicative of future results. Any results published here are for informationa purposes only and neither have validity whatsoever nor act as an invitation to buy or sell any financial instrument.

Market View

The Euro struggles across the board but holds the key 1.2260 vs the USD
It’s been quite a week for the single currency, first breaking important USD levels and climbing to the 1.24 mark, then sliding towards the mid 1.22’s, finally bobbling around 1.23. The important things though, is that an important line has been broken, and even more important, it has not broken back, confirming the upward momentum for the pair. That coupled with the presumably stop-hunting in the recent lows in USD/JPY, and the quest for the 1.50 mark in Cable, may be good indicators enough that the USD has somewhat lost momentum. Economic data is definitely ignored when bad, and taken to the word when good, and this only happens when the mood of the ones with big hands is changing….

Market Technicals

Retail positioning is shifting and helping the USD to slide
The overwhelming ‘long’ position status by the retailers in both GBP and EUR vs the USD has shifted to ‘short’, helping us anticipate further gains in EUR/USD and GBP/USD, alongside a general USD decline, as the overwhelming majority of worldwide retail players are now loging the USD, helping contrarian-sentiment indicators to rise to levels not seen since March of this year.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

Asian stock markets are exhibiting a mixed trend on Tuesday with investors treading cautiously amid a lack of triggers. Some of the markets in the region got off to a fairly positive start but gave up early gains with a section of investors indulging in some selling amid worries the crisis in Europe could slow down the pace of global economic recovery to an extent.

Asian stock markets are exhibiting a mixed trend on Tuesday with investors treading cautiously amid a lack of triggers. Some of the markets in the region got off to a fairly positive start but gave up early gains with a section of investors indulging in some selling amid worries the crisis in Europe could slow down the pace of global economic recovery to an extent.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.

The Indian market is trading marginally lower on Tuesday, taking cues from mixed Asian markets. Trading in a narrow range, the 30-share Sensex average is currently at 16,800, down about 35 points or 0.21% and the 50-share Nifty is losing 16 points or 0.31%.