MESSAGE FROM JACKO 422

It is 1.20am NY time Friday August 7 and the market is at 1.4355

This week would have been one of the dullest trading weeks I have experienced in three years. The market has been in a very tight range since Monday lunchtime, but it does NOT have a feel that it is winding up for a big move. There will certainly be a move with the release of the NFP numbers today, but this does not feel like a market that is tightening up for a big release.

However, as I have been saying all week, the bias of this market is down. It has been a dull week but those of you who went short based on my suggestion that it was going down are now starting to see the market move in your direction, without having been exposed to any great upside risk

Edit 3.20am NY time Market is at 1.4368 The market is not showing any great signs of activity in the London session. The big mover will be the NFP news at 8.30am NY time. I would recommend that any traders be very careful at that time as it usually spikes in both diection, taking out Stop Losses with ease. The NFP news is the biggest market mover of all announcements (equal to the FOMC announcements).

On a personal note, Hong Kong is 12 hours in front of NY so when the NFP announcement is made I will be at a 8.30pm Friday night concert. Mrs Jackson says that given dullness of the market this week and the tediousness of checking each of the Statements for the end of quarter for the Fund, I deserve to be taken out on this beautiful Friday night in Hong Kong.

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