Lanmar
Short

FX traders want S&P action? This cross will accommodate for you

FX:NZDJPY   New Zealand Dollar/Japanese Yen
34 0 0
Risk on, Kiwi is favored. Risk off, Yen is favored. Walla! You have a good cross to short if you're bearish (like me) on the S&P 500             . I have not done any correlation analysis nor do I care to.

P.S. IN THE LONG TERM THERE IS PROBABLY VERY MILD CORRELATION BETWEEN THE NEW ZEALAND DOLLAR AND THE MARKET AS A WHOLE. IN THE SHORT TERM, HOWEVER, IT'S SUBSTANTIAL ENOUGH. IN FACT, NEARLY ANY CURRENCY AGAINST THE YEN IS A SHORT IF THE MARKET GOES DOWN BECAUSE OF THE FLIGHT TO SAFETY COMPONENT (YEN).

I choose New Zealand because it has a nice enough pattern for my strategy. On another note, New Zealand dollar is highly correlated with milk - so it's a bearish China play as well - which I am bearish on! (China is New Zealand's largest importer of milk powder).

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