2011-07-14th (Thurs) - Quantitative Easing III (QE3)

At the end of the previous trading session I had the following positions;
Long 300,000 USDJPY with ACB of 79.438
Long 200,000 USDCAD with ACB of 0.96322

In today's trading session US markets fell on Ben Bernanke's claim that there will not be any Quantitative Easing III (QE3).

This was a 180 degree turn from Bernanke's speech yesterday, and market participant's heads are still spinning from his abrupt turn about.

The reason is the US wants to maintain a Strong US Dollar policy, and we now have solid empirical evidence from the markets reaction and Ben Bernanke as evidenced on Tues 07/12th, Wed 07/13th, Thurs 07/14th to fall back on in our future trades.

Article - "Bernanke: No Plans to Add New Stimulus Measures Now"
http://www.cnbc.com/id/43754917

Article - "S&P warns it may downgrade US credit rating - S&P warns it may downgrade US credit rating because of debt ceiling impasse"
http://finance.yahoo.com/news/SampP-warns-it-may-downgrade-apf-3001686388.html?x=0&sec=topStories&pos=2&asset=&ccode=

Article - "Global Food Inflation to Return After Brief Respite"
http://www.cnbc.com/id/43762905

Currently I have the following positions;
Long 300,000 USDJPY with ACB of 79.438
Long 200,000 USDCAD with ACB of 0.96322

USDJPY is currently 79.156 (2011-07-15, 00:11 am EST)
USDCAD is currently 0.95960 (2011-07-15, 00:11 am EST)

Our first line of credit was activated on 2011-06-16th (Thurs) and our second line of credit was activated on 2011-06-29th (Wed).

Total equity is 13% of June 1st and we are committed to trade ourselves back to our High Water Mark.

Stay Tuned,

Jeff
(2011-07-15, 00:12 am EST)