15 May 2013

Ponder Ponder

  • 1. US 10 year yields up from 1.60% to 1.96% now.
  • 2. USDX trying to take out 2012 highs.
  • 3. S&P500 at new high.
  • 1+2+3 => Pricing for US recovery (without inflation). Don't fight the tape, even if I think the central banks are doing the wrong thing and it will all come crashing down hard eventually. DO NOT TRY TO SHORT S&P. Accept it.
  • Recovery = Time to buy back balance of Copper short (still in the money). Trade : Bought HGN3 +325.70. Square now.
  • Free up room for taking more risk in Gold and Cable; both charts look good. (Enough long USD/JPY already. In fact, am in risk excess at 35% vs limit 25%).


Taichiseal said...

Trailing stops in GBP/USD and USD/JPY taken out.

+1.5270 and -101.90. High and lows of day. Sigh. Try to get back in again later.

Taichiseal said...

+102.15 USD/JPY