End of jan summary...

...will come on the weekend.

Last update for this Friday. We've got stopped out of part of our SPX long - locking in just under 1% loss on our portfolio. The rest of our stops now are down towards 810 level. We have stop-entries on the topside every 5 points to keep adding to our current longs with stops at various trailing levels. A bit bullish we know...

On the other hand, we have significantly tightened up our stops in GBP - only because they are enough onside that we would be gutted to lose money on them now. For the June IMM date, our stops are now around 0.9100 in EURGBP and 1.6170 in GBPCHF.

Good luck!