08:35am  ~  European markets are set to open slightly down after overnight Asian markets were spooked apparently on news that the Chinese Shadow Banking Sector is hiding some bad debt. Many commentators believe there is some bad news to come regarding this part of the Chinese economy as there is no real figures as to the size or risk of this type of lending, although some experts put the amount of shadow loans at $6 trillion. And also there is reports that Chinese banks have tripled their debt write-down programme for the first half of 2013.  As you know, the delayed September jobs figures were released by the U.S. Government yesterday and although they were below official estimates, the main indices rallied on speculation that the Fed will not now reducing its money-printing activities (tapering) until well into next year.  The WTI Crude Oil price stayed below $100 yesterday on growing anticipation that oil inventories is going to show another surplus – those numbers will be out later this afternoon.  Gold value increased slightly, partly due to buying from Indian jewellers ahead of a government curb on imports.

The weather this morning on the Suffolk coast can be accurately described as ‘grim’ so I’m spending the morning here in the study doing some emails and Skype calls together with chart-watching as well. I am hoping the weather will improve later as I have  MOT’s booked on two of my bikes this afternoon in Ipswich.

08:55am  ~  The markets seem quite ‘lively’ this morning and some of my favourite charts* have moved well in the past hour or so, some too early for me to have got in with a trade though. However, I did manage to catch a short on my S&P500 chart a short while ago, using a trendFX strategy. It’s doing ok so far.

10:30am  ~  I am still in my S&P ‘short’ trade and although it initially went down quite nicely, it now seems to be stuck in the doldrums and is currently at minus 3 pips.

12:35pm  ~  I am off out for lunch soon so I have taken the opportunity to shut my trade off at break-even as the market seems to be going up and down in a channel.  I am out for most of the afternoon but will be back later so I may trade my evening system

18:55pm  ~  I’ve just got back home so I’m going to fix some supper for us while watching my S&P500 chart here in the kitchen, I will report back later if I have news of any trades

21:05pm  ~  I did end up having a late trade, entry just after 8:30pm and after 30 minutes I came out with a small 8 pip profit just as the market closed for the day.

Daily Target Reached ?  NO  (+8 pips)       I traded this morning plus a few hours this evening.