Asia Down For Friday - Looks To Spread Into US Markets Tomorrow

After 3 days straight of a strong rally, Asian markets run was put to a stop on Friday. Even though Japan is still expected to cut their rate, many gathered the profits they could find in case their is not a cut made, which would send Asia into a big down spin. So I don't know if FXP will get much lower to make a second buy in. Who knows though, US is a market of it's own so it could be up, but usually the Asian market is a good factor in driving FXP.

I would guess we will see the same "profit taking" trend tomorrow in our own markets unless some significant announcement is made. We have had three pretty strong days, which is more we can ask for in this market. We may begin the day up, but I think we are going to see a pretty strong sell off before the close, which could push the market down 3-4%. Be careful this next week, during "Rave Week", and get into FXP while it is still below $100. If it's below $90 tomorrow, even better! See you tomorrow.


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