Another quick note on this wild and crazy day in the markets.
At least Research in Motion (RIMM), Apple (AAPL) and Google (GOOG) are holding their 200 day moving averages. If they can hold up, then it shows a sign of strength. for these were the stocks that led the last rally. They're also still holding up far better than the Nasdaq. In fact, the Nasdaq is down about a percentage point more than the Dow. See the chart of Apple below to see the entire image which shows the latest data.
Stocks are recovering off of their lows. So we'll see if it can hold. If so, you'll see carry trades recover.
It's worthy to note that EUR/CHF has erased almost a year of "carry trade" profits. So if stocks truly bottom, then it could be a good pair to consider. If stocks continue lower, then all carry trades will suffer further. Click on the chart to enlarge it.
EUR/CHF erases almost a year's worth of gains. 
Sean Hyman
Editor/Trader
www.money-trader.com
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