- Made a low of 81.96 yesterday pre-Bernanke disappointing QE3 hopes, from where we have bounced strongly. Now back up trading at 82.68.
- Upside breakout point = 82.06 still holding.
- As long as we hold above 82.06 on weekly closing basis, Risk Off is still the favored trading stance. The Risk On rally of the last few days = just a shakeout of weak Risk Off hands.
- Trimmed 50% of risk (took off short S&P) but re-established some last night via short Corn. Up to 80% exposure now.
- P&L now = small down on month, by roughly what would have been the amount of USD/JPY P had I not foolishly lifted the hedge.
08 June 2012
USDX : Still Healthy
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