A lot was going on in the pre-market this morning, so I am just getting to this now. We're inside a critical area on the S&P. It can go either way from here -- yes, I know that's not saying much, but it means the odds are roughly the same that the market goes way up or way down. In other words, it's not a great place to play unless you use options or like taking on a lot of risk.
I'm protecting gains on my USDCAD position from April by hedging it with 6C futures. 1.02 is the line in the sand. USDCAD may want to run to par, in which case I'll have to dump the 6C to avoid heavy losses.
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