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    Sep 29th 2006

    NSFG, Ken has confirmed September returns would be 5%. Gross after deducting fees would be 3.75% for members.

    Gross return ended again on 5% this month after being up around 6.5% a week earlier. We had time a little bit against us this month as I was away one week on vacation (or whatever you call it) and that came after a soft NFP performance. This week was the last week in the quarter and so volume and market depth has been a little lower than usual. The big market players has been very risk averse this week. We missed a couple of good trades and had to struggle in the position we did take. Cable and Yen was the pairs I failed to catch the major trends in unfortunately. And we had to be very patient on the Aussie pair.

    The outlook for next week is quite interesting though with most of the majors hovering around key levels and we could see a reversal in the usd dominated trends from this week. I will especially be watching eur/usd from the area above 1.2705 for a long position and the usd/jpy for a short position from around the 118.30 area.

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