- Possible reversal on the daily chart (inset) so all square now. Whilst I am long term bearish, I am fed up of seeing profits disappear time and again. At my trailing stop out point of 1.2155, I have locked in 50% of open profits. [Rule 12 : Substance over Style]
- Given already large short positions, market is vulnerable to a short squeeze (not necessarily saying it will happen) although fundamentals are firmly bearish.
- Certainly am looking for opportunities to re-enter short at better levels. May end up having to to re-sell at worse than 1.2155, but that's better than the agony of seeing large open profit turn into a loss.
- Have also squared last night's short ESU2 @ 1339 to re-assess conditions.
1 comment:
Squeeze started today with ECB board member Nowotny saying that he can see arguments to provide ESM with banking licence.
Post a Comment