Only my USD position was stopped out yesterday, with a close call on EWW & IYR. Before the rate cut announcement came, the DJIA was down 600 points in Pre-market trading and I was pretty much sure that I was going to get stopped out on a gap down below my stops, but even on the USD stop, I got a very good fill on my stop, minimizing the loss somewhat.

And how about that IYR call. For those of you who may be unaware, IYR is the Real Estate tracking ETF. While all the other industries were clamoring to figure out whether or not the cut would be enough, the real estate industry knew that it could only help them (IYR’s up over 10% in since the announcement). I’ve closed out half of my position, adjusted my stop on the other half, and have a target of 67.50 on the second half.

As for EWW, I am much less sure of this trade after the events in the past couple of days. I will be trailing my stop via each day’s close and lowering my target to the gap around $54. It’s currently in the black but is my most vulnerable trade. The second half of my EUR/GBP trade is consolidating after moving favorably in my direciton 150 pips. I have a very close stop on this and will likely close it out in the next couple days if it does not hit my stop or target.

That’s it for right now as I have to run.