- Core Book : Long [CAD+EUR] vs Short [Copper+AUD+S&P+Nikkei]
- Flipped from Risk Off to Risk Neutral on Friday night after NFP. Was a bit too early in selling USD/CAD (at 1.0488), even if overall relative value portfolio is doing fine. Just feel sore at myself for not being clever enough to squeeze maximum potential out of running the naked leg a bit longer. Gave up a lot of extra profits by being too early in CAD.
- USD/CAD now pulled back all the way to downTL at around 1.0700, nearing major decision time for the Core Book. If we break >1.07 into this week's close, then would contemplate unlegging a chunk of the short USD/CAD position and leave the book in a big Risk Off mode. However, I believe that the USD/CAD downtrend will hold. Let's see. [Good CAD employment data on Friday].
- The other bits in the crock pot are looking in excellent technical shape, and the book overall delivering a steady stream of P, hopefully for a long time to come.
- Reminder to self : Ride the Risk Off trades which are trending. Adjustments at the margin to be made only to Risk On. Don't mess about with the wrong bits.
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