Meta-Trader - Cracks in the Euro

Welcome back Meta-Traders.

We saw some cracks in the Euro-zone this past week with good economic reports from Germany and France early in the week highlighting the divergences in performance between the different member nations.

It seems ever more likely that weaker members Greece, Italy, Spain and Portugal will eventually pull out and go on their own rather that continue to be bailed out by the stronger members. This news saw EUR/USD drop from its recent high just shy of 1.50 down to just about 1.41 in just 2 weeks time.

Meanwhile, air continued to drain out of the commodity bubble with crude oil now down 15% to under $100 a barrel well off a recent high of $115. The rest of the commodity sector continued to deflate as well with broad commodities as represented by the GSCI (Goldman Sachs Commodity ETF) about 12% off its recent high. This confluence of factors has it starting to look like the long commodities, short USD trade is starting to unwind.

Equities continued under pressure which points out that rising equities in many cases are associated with rising commodity prices. With commodities cracking, equities are started to come off the recent yearly high set just 2 weeks back. Overall, I was well positioned this week with a relatively large cash position and out of tech giant AAPL which sold off back to the $340 area. That aside, it was stock-specific story with new positions in AMZN and QCOR (based on breakouts to new highs) and movie streamer Netflix (NFLX) threatening a new high, but not delivering quite yet.

Back to the currencies, choppy action lead to a mixed picture for our Forex robots with many systems taking losses on the week. But overall, results are good and I did a rough summary last weekend which showed i'm up about 10% overall on the year which beats the S&P 500 by a good 4 percentage points. Let's do the numbers.

Atinalla #1 had an excellent week and picked up nearly 3.5% for the week. It was short EUR/USD on all 5 trades and took profits on 4 out of 5. This system is now up a respectable 27.59% for the year.

Atipaq Full Portfolio lost about 3.5% for the week on a string of losing trades, 2 on either side of USD/CHF and a failed long in AUD/USD. Even so, its up over 35% for the year as is leading the pack among my live accounts.

Megadroid Live had a good week gaining about 1% on a manual trade where I shorted USD/CAD and took about 110 pip profit. I went into the weekend short USD/CAD once again and i'm looking to take profits in the 0.9615 area again this coming week.

FX-Regression did well in this choppy environment and picked up nearly 4% for the week. Overall, this account is still struggling around the 0% mark and like a close basketball game, I think this one's return for the year will be decided in the last few trading sessions of the year.

Atinalla FE peeled off about 4% on the week, giving some back after last week's breakout to a new equity high on the year.

Atinalla #3 was a disappointment and moved out to a new equity low for the year. This account is now down about -2.25% after having been as high as +12 earlier this year.

Atinalla #4 lost about -0.75% on the year and continues to struggle. I'm running a similar account over at Forex4Your Challenge that is doing much better, so its going to take some investigation to unravel that mystery.

Finally, COATL EUR-Centered Portfolio peeled off about -5% for the week and went into the weekend with about -8% in open losses. Interesting to see how this portfolio strongly mirrors the recently performance of the Euro overall.

On the development side, check back on Sunday for part 2 of my review on Coatl. Enjoy your weekend.