2011-06-08th (Wed)

At the end of the previous trading session I had the following position;
Long 300000 USDJPY with ACB of 79.968

Saudi oil minister Ali Naimi's reaction after the OPEC meeting was aired on CNBC at 4:15 pm EST and I quote his transcript as saying;

"... The number tell us that we need to add $1.5 Million barrels per day ..."

"... Saudi Arabia and other 3 GCC countries are able, willing to supply whatever the market needs ..."

Article - "Oil rises as OPEC maintains production level - Oil prices climb above $100 as OPEC announces it won't increase production"
http://finance.yahoo.com/news/Oil-rises-as-OPEC-maintains-apf-2216151017.html?x=0&sec=topStories&pos=2&asset=&ccode=

Jim Rogers was immediately interviewed by Maria Bartiromo and her voice was terrible due to laryngitis.

In this CNBC live interview from the NYSE Jim Rogers said he is temporarily Long the USD for a rebound.

Jim Rogers also said he is Short the bank that has not gone down as much as the others, but declined to name it as he has too many friends there.

Article - "Fresh Downgrade Threat to U.S. Debt"
http://online.wsj.com/article/SB10001424052702304778304576373992711772366.html

Article - "China plans 'cash for clunkers' to beat weak sales - China announces own 'cash for clunkers' plan, as sales cool in world's largest auto market"
http://finance.yahoo.com/news/China-plans-cash-for-clunkers-apf-1602415233.html?x=0&.v=6

Currently I have the following position;
Long 300000 USDJPY with ACB of 79.968

USDJPY is currently 80.043 (2011-06-09, 00:00 am EST)

Total equity is 97% of June 1st, and unchanged from previous.

Stay Tuned,

Jeff
(2011-06-09, 00:12 am EST)