yeah...i closed my shorts at 200 so with $ now at 11 thats scary....We could go to 11.50 in a matter of days if this level doesnt move back down to 10.85 range. Just think what it will cost at the pumps in two months!!! Weird thing is SP500 down 1.3% but IG currently only down 50 pips off J200? Thats just wack..I think we will move down much lower during the night with the j200 opening lower at 42100 tomorrow..if 42000 breaks we go down to 41800? sound reasonable?
If S&P is down 1.1 % and ZAR/USD is weaker by 1.5%, then our market is still relatively "cheap" in USD terms. We might drop to 42100 but will have to wait and see if any further selling ensues...
K