I will be looking to buy yen on rallies this week. I will probably avoid most dollar pairs unless I want extra exposure. I think Yen is ready for a bounce. However in this low volatility environment I think that the trend will take a while to achieve. A week or two. Im down on an credit spread on FXY. Long DEC 96 put, DEC short 98 put for a .75 credit. I believe FXY has a chance to recover to 97 ish, and possibly touch 98. I will look to close that credit spread if I can get back to even.

Anyone else short equities? Lets hope for a crash in DIA and SPY .

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