05 July 2013

EDZ5 : Pyramid

  • Good Jun NFP (+195K) and strong upward revision to previous months.
  • At risk of sounding alarmist, seriously think that 97.595 is a very real possibility for this selling cycle (vs current 98.31).
  • Staying strictly disciplined and keeping risk constant at around 28% even as account equity increases with short position moving into profitability. Previous deviation from money management rule was a disaster. [Added on at 98.47, 98.415 and 98.33].
  • Will hold it here at 28% until we break recent low at 98.215. Add on then. As I mentioned here before, interest rates are the best trending market once they get going. 10yrs from 1.60% to 2.70% and the Fed has not even started yet.
  • Stop (profit) moved down.

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