1) A worrying fact, China's stock market is down 32% this year and just hit a new low (iShares FTSE/Xinhua China 25 Index ETF (FXI))
2) I plan to close all remaining long positions today or tomorrow; I plan to end the year with a clean sheet to work on;
3) The Brent/WTI spread continues its new leg lower; It caused some confusion over the year so I would prefer the spread to narrow further so it will be easier to position trade the Nymex Light Sweet Crude Futures;
4) While I see an interesting medium term opportunity in going long Japan, the momentum is not behind that trade yet - (today`s worse than expected contraction in industrial Production)
5) It`s a vacation week - incredibly light volumes again this morning - there`s not much more to do in 2011;
On a leisure note, I will introduce you to the Koenigsegg CCX (245 mph, 0-60 in 3.2 secs. 90 Degree V8 Engine 806 hp, base price is $545,568, Made in Sweden):
