03 September 2014

EDZ6 : Short @ 98-00 in Size

  • Just back in Singapore today, was unable to update blog while away. Much trading done the past 2 weeks.
  • 1. Profitable trade shorting Copper (initiated -HGZ4 @ 323.30), square now (so won't bother to make a blog post for this).
  • 2. Stopped out tiny TYZ4 position @ 126-18 in the mid-Aug bear squeeze.
  • 3. Managed to ride out the storm with the short EDZ6 position though and added to it on the way down. Balance of outstanding short position has average cost of 98-00. Risk level on this is the largest I have had for quite a while soon.
  • Expect current down leg to make a test of 97-81 support line, but I am much more bearish than that and think the time is very near for a big bond bear market to begin soon, if not now. [proximity of completion of tapering, +250k NFPs, UR nearing break below 6.0%].
  • Dismal P&L performance however. YTD = breakeven after trading costs.


Taichiseal said...

Took some profit @ 97-89. Small trading position around central core short.

Taichiseal said...

Being almost maxed out short ahead of a surprise ECB rate cut was not part of the plan!

In any case, seem to have survived another bear squeeze (high 98-00.5 post rate cut trading). Touch wood.

Next up NFP. A good number would be nice.

Taichiseal said...