http://www.codusoperandi.com/posts/why-i-quit-algorithmic-trading-to-do-web-startups
http://www.businessinsider.com/reinhart-and-rogoff-dangerous-debt-ceiling-2011-8
Tuesday, September 27, 2011
Sunday, September 18, 2011
2011-09-18th (Sun)
My previous report was made on 2011-09-03rd (Sat), and in the past nine trading sessions we have been fine tuning our algorithm.
We had to wait until after Labour Day to run our algorithm live starting Sept 6th (Tues) and the results were immediately unfavourable.
It did nothing to signal us to turn-around our position from Short to Long, and we missed out on 169 bps of opportunity as USDCAD spiked to 1.00239 on Sept 12th (Mon) and we saw our algorithm do absolutely nothing at all.
It did nothing to signal us to add to our existing Short position, and we missed out on 247 bps of opportunity as USDCAD retraced back to 0.97768 from Sept 12th (Mon) to Sept 16th (Fri).
Naturally we were pissed at ourselves for an even worse algorithm we had prior to Sept 3rd.
Leonard the monkey, which is a cousin of Burton Malkiel's as he never gave his a name, would have done better we think.
Ultimately as a trader only the trades matter.
At the end of the previous trading session I had he following position;
Short 550,000 USDCAD with ACB of 0.98183
Sell 50,000 USDCAD at 0.99000 (2011-09-05, 09:42 am EST)
Buy 200,000 USDCAD at 0.98080 (2011-09-18, 16:14 pm EST)
Currently I have the following position;
Short 400,000 USDCAD with ACB of 0.98183
USDCAD is currently 0.98347 (2011-09-18, 21:46 pm 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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-09-18, 21:47 pm EST)
We had to wait until after Labour Day to run our algorithm live starting Sept 6th (Tues) and the results were immediately unfavourable.
It did nothing to signal us to turn-around our position from Short to Long, and we missed out on 169 bps of opportunity as USDCAD spiked to 1.00239 on Sept 12th (Mon) and we saw our algorithm do absolutely nothing at all.
It did nothing to signal us to add to our existing Short position, and we missed out on 247 bps of opportunity as USDCAD retraced back to 0.97768 from Sept 12th (Mon) to Sept 16th (Fri).
Naturally we were pissed at ourselves for an even worse algorithm we had prior to Sept 3rd.
Leonard the monkey, which is a cousin of Burton Malkiel's as he never gave his a name, would have done better we think.
Ultimately as a trader only the trades matter.
At the end of the previous trading session I had he following position;
Short 550,000 USDCAD with ACB of 0.98183
Sell 50,000 USDCAD at 0.99000 (2011-09-05, 09:42 am EST)
Buy 200,000 USDCAD at 0.98080 (2011-09-18, 16:14 pm EST)
Currently I have the following position;
Short 400,000 USDCAD with ACB of 0.98183
USDCAD is currently 0.98347 (2011-09-18, 21:46 pm 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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-09-18, 21:47 pm EST)
Saturday, September 3, 2011
2011-09-03rd (Sat)
My previous report was made on 2011-08-25th (Thurs) , and in the past six trading sessions we have been fine tuning our algorithm.
It is not perfect but less messy enough for us to turn it alive.
It did produce some false signals, we over rided some trade decisions, and allowed some to go through.
Ultimately as a trader only the trades matter.
At the end of the previous trading session I had the following position;
Short 250,000 USDCAD with ACB of 0.98863
Buy 100,000 USDCAD at 0.98132 (2011-08-28, 17:16 pm EST)
Sell 100,000 USDCAD at 0.98000 (2011-08-30, 05:18 am EST) for an insignificant loss.
Buy 100,000 USDCAD at 0.97738 (2011-09-01, 14:02 pm EST)
Sell 150,000 USDCAD at 0.98000 (2011-09-02, 08:30 am EST) for an insignificant gain.
Sell 50,000 USDCAD at 0.98317 (2011-09-02, 15:57 pm EST)
Sell 200,000 USDCAD at 0.98500 (2011-09-02, 16:35 pm EST)
Currently I have the following position;
Short 550,000 USDCAD with ACB of 0.98183
USDCAD closed at 0.98545 (2011-09-03, 13:59 pm EST)
Our position has grown larger but we have the available margin.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-09-03, 14:00 pm EST)
It is not perfect but less messy enough for us to turn it alive.
It did produce some false signals, we over rided some trade decisions, and allowed some to go through.
Ultimately as a trader only the trades matter.
At the end of the previous trading session I had the following position;
Short 250,000 USDCAD with ACB of 0.98863
Buy 100,000 USDCAD at 0.98132 (2011-08-28, 17:16 pm EST)
Sell 100,000 USDCAD at 0.98000 (2011-08-30, 05:18 am EST) for an insignificant loss.
Buy 100,000 USDCAD at 0.97738 (2011-09-01, 14:02 pm EST)
Sell 150,000 USDCAD at 0.98000 (2011-09-02, 08:30 am EST) for an insignificant gain.
Sell 50,000 USDCAD at 0.98317 (2011-09-02, 15:57 pm EST)
Sell 200,000 USDCAD at 0.98500 (2011-09-02, 16:35 pm EST)
Currently I have the following position;
Short 550,000 USDCAD with ACB of 0.98183
USDCAD closed at 0.98545 (2011-09-03, 13:59 pm EST)
Our position has grown larger but we have the available margin.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-09-03, 14:00 pm EST)
Friday, August 26, 2011
2011-08-25th (Thurs)
My previous report was made on 2011-08-05th (Fri), and in the past fourteen trading sessions we have stayed away from the extreme volatility that was witnessed.
I simply could not bring myself to a profitable position on the Dow Index or WTI Crude futures contracts, all my formulas were not giving me a true reading on the direction.
We are still experimenting with different time-frames and testing new algorithms, and so far none of them have been consistently profitable.
I am very close to phoning up Burton Malkiel to borrow his blind folded monkey.
Ultimately as trader only the trades matter.
Sell-To-Open 300,000 USDCAD at 0.98040 (2011-08-07, 21:48 pm EST)
Sell 100,000 USDCAD at 0.98355 (2011-08-08, 02:04 am EST)
Buy 100,000 USDCAD at 0.98306 (2011-08-08, 02:20 am EST)
Buy-To-Close 300,000 USDCAD at 0.98000 (2011-08-08, 03:34 am EST)
The above trades yielded us a tiny profit, but the algorithm was so messy and produced so many false signals we shut it down.
We constructed another algorithm and executed the following trades;
Sell-To-Open 150,000 USDCAD at 0.98680 (2011-08-08, 10:06 am EST)
Sell 50,000 USDCAD at 0.99083 (2011-08-08, 10:34 am EST)
Sell 50,000 USDCAD at 0.99189 (2011-08-08, 14:26 pm EST)
Then we sat out the next seven trading sessons as the markets got completely hammered.
Sell 150,000 USDCAD at 0.99210 (2011-08-18, 11:30 am EST)
Buy 150,000 USDCAD at 0.99076 (2011-08-18, 12:49 pm EST)
This algorithm is less messy but still producing so many false signals I am very close to shutting it down also.
Currently I have the following position;
Short 250,000 USDCAD with ACB of 0.98863
USDCAD is currently 0.98625 (2011-08-26, 02:22 am EST)
At this moment I am not seeing the volumes I was expecting ahead of Bernanke's speech at Jackson Hole.
My Short USDCAD position is not entirely secure and I am prepared for a spike of strength back above par like what we saw on August 9th.
I will allow for wider swings, as our position is small, and we have the available margin.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-26, 02:28 am EST)
I simply could not bring myself to a profitable position on the Dow Index or WTI Crude futures contracts, all my formulas were not giving me a true reading on the direction.
We are still experimenting with different time-frames and testing new algorithms, and so far none of them have been consistently profitable.
I am very close to phoning up Burton Malkiel to borrow his blind folded monkey.
Ultimately as trader only the trades matter.
Sell-To-Open 300,000 USDCAD at 0.98040 (2011-08-07, 21:48 pm EST)
Sell 100,000 USDCAD at 0.98355 (2011-08-08, 02:04 am EST)
Buy 100,000 USDCAD at 0.98306 (2011-08-08, 02:20 am EST)
Buy-To-Close 300,000 USDCAD at 0.98000 (2011-08-08, 03:34 am EST)
The above trades yielded us a tiny profit, but the algorithm was so messy and produced so many false signals we shut it down.
We constructed another algorithm and executed the following trades;
Sell-To-Open 150,000 USDCAD at 0.98680 (2011-08-08, 10:06 am EST)
Sell 50,000 USDCAD at 0.99083 (2011-08-08, 10:34 am EST)
Sell 50,000 USDCAD at 0.99189 (2011-08-08, 14:26 pm EST)
Then we sat out the next seven trading sessons as the markets got completely hammered.
Sell 150,000 USDCAD at 0.99210 (2011-08-18, 11:30 am EST)
Buy 150,000 USDCAD at 0.99076 (2011-08-18, 12:49 pm EST)
This algorithm is less messy but still producing so many false signals I am very close to shutting it down also.
Currently I have the following position;
Short 250,000 USDCAD with ACB of 0.98863
USDCAD is currently 0.98625 (2011-08-26, 02:22 am EST)
At this moment I am not seeing the volumes I was expecting ahead of Bernanke's speech at Jackson Hole.
My Short USDCAD position is not entirely secure and I am prepared for a spike of strength back above par like what we saw on August 9th.
I will allow for wider swings, as our position is small, and we have the available margin.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-26, 02:28 am EST)
Friday, August 5, 2011
2011-08-05th (Fri)
In the previous trading session I had no positions.
I was 100% in Cash.
In today's trading session US markets sold off after opening and staged a small relief rally towards the close.
Some investors were bottom picking at the end of the 10th day of the market crash, and speculators were Short Covering in anticipation of intervention to show its hand next Monday.
Intervention by the Obama administration is what we have to see starting Sunday August 7th when Forex markets open at 6:00 pm EST, for it is necessary to soften the blow when stock markets open on Monday August 8th, 2011.
Article - "United States loses AAA credit rating from S&P"
http://finance.yahoo.com/news/US-loses-AAA-credit-rating-rb-2187330642.html;_ylt=ArAq8oq5uOGNw9RnX9FZDSa7YWsA;_ylu=X3oDMTE1aDBmcnEzBHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNzYW1wcG9udXNkb3c-?x=0&sec=topStories&pos=main&asset=&ccode=
Article - "United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden; Outlook Negative"
http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8&sec=topStories&pos=1&asset=&ccode=
This weekend will be the most important two days of my life and career as I plough through all the data and come up with a Thesis and Game Plan.
Our highest risk speculative commodities futures and forex portfolio was stopped out of our postions on 2011-08-01st (Mon) and I suffered losses but next week we will trade ourselves to profit.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-05, 22:48 pm EST)
I was 100% in Cash.
In today's trading session US markets sold off after opening and staged a small relief rally towards the close.
Some investors were bottom picking at the end of the 10th day of the market crash, and speculators were Short Covering in anticipation of intervention to show its hand next Monday.
Intervention by the Obama administration is what we have to see starting Sunday August 7th when Forex markets open at 6:00 pm EST, for it is necessary to soften the blow when stock markets open on Monday August 8th, 2011.
Article - "United States loses AAA credit rating from S&P"
http://finance.yahoo.com/news/US-loses-AAA-credit-rating-rb-2187330642.html;_ylt=ArAq8oq5uOGNw9RnX9FZDSa7YWsA;_ylu=X3oDMTE1aDBmcnEzBHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNzYW1wcG9udXNkb3c-?x=0&sec=topStories&pos=main&asset=&ccode=
Article - "United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden; Outlook Negative"
http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8&sec=topStories&pos=1&asset=&ccode=
This weekend will be the most important two days of my life and career as I plough through all the data and come up with a Thesis and Game Plan.
Our highest risk speculative commodities futures and forex portfolio was stopped out of our postions on 2011-08-01st (Mon) and I suffered losses but next week we will trade ourselves to profit.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-05, 22:48 pm EST)
2011-08-04th (Thurs)
In the previous trading session I had no positions.
I was 100% in Cash.
In today's trading session US markets continued to sell off and dived at the close erasing the previous eight months of gains to close negative for the year.
In our highest risk speculative commodities futures and forex portfolio I was stopped out of my postions on 2011-08-01st (Mon) and suffered losses.
For now none of our techincal indicators are reading correctly because the front data is skewing all our curves, they all point down, and so will not be useful in catching a rebound.
Although at this moment the Volatility Index (VIX) is parabolic and could be at a point-of-inflection in the near future I do not wish to take the gamble.
So I decided to stay out until I could see some clarity.
I am uneasy what the employment data release tomorrow will do to the market.
If we see no brief relief rally then margin calls will be in full force over the weekend and next Monday will see fresh rounds of liquidation.
The USDJPY pair has caused me great pain as I saw my gains evaporate due to bad Stop Loss Orders on my part on 2011-08-01st (Mon), and it is killing me to get the direction right but botch the trade through bad execution.
Article - "Explaining Japan's Yen 'Repatriation Trade'
http://www.cnbc.com/id/42150232
Article - "How to Trade the Yen Post-Intervention"
http://www.cnbc.com/id/44013717
I am keeping an eye on WTI Crude Oil because it trades more on inventory at Cushing, Oklahoma and less on economic fundamentals, so I will most likely Long this for a rebound.
Article - "Oil near $86 as outlook for crude demand dims - Oil falls to near $86 in Asia as investors anticipate weak US economy, crude demand"
http://finance.yahoo.com/news/Oil-near-86-as-outlook-for-apf-226256381.html?x=0&sec=topStories&pos=main&asset=&ccode=
In case you are wondering BNY Mellon deals only with large institutional depositors and does not deal directly with consumers, so I hope the media will not skew this move by the custodial bank.
Article - "Bank of New York Mellon adds fee to deposits - Citing cash influx, Bank of New York Mellon adds 0.13 percent fee for large deposits"
http://finance.yahoo.com/news/Bank-of-New-York-Mellon-adds-apf-3353726022.html?x=0&sec=topStories&pos=5&asset=&ccode=
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-05, 00:35 am EST)
I was 100% in Cash.
In today's trading session US markets continued to sell off and dived at the close erasing the previous eight months of gains to close negative for the year.
In our highest risk speculative commodities futures and forex portfolio I was stopped out of my postions on 2011-08-01st (Mon) and suffered losses.
For now none of our techincal indicators are reading correctly because the front data is skewing all our curves, they all point down, and so will not be useful in catching a rebound.
Although at this moment the Volatility Index (VIX) is parabolic and could be at a point-of-inflection in the near future I do not wish to take the gamble.
So I decided to stay out until I could see some clarity.
I am uneasy what the employment data release tomorrow will do to the market.
If we see no brief relief rally then margin calls will be in full force over the weekend and next Monday will see fresh rounds of liquidation.
The USDJPY pair has caused me great pain as I saw my gains evaporate due to bad Stop Loss Orders on my part on 2011-08-01st (Mon), and it is killing me to get the direction right but botch the trade through bad execution.
Article - "Explaining Japan's Yen 'Repatriation Trade'
http://www.cnbc.com/id/42150232
Article - "How to Trade the Yen Post-Intervention"
http://www.cnbc.com/id/44013717
I am keeping an eye on WTI Crude Oil because it trades more on inventory at Cushing, Oklahoma and less on economic fundamentals, so I will most likely Long this for a rebound.
Article - "Oil near $86 as outlook for crude demand dims - Oil falls to near $86 in Asia as investors anticipate weak US economy, crude demand"
http://finance.yahoo.com/news/Oil-near-86-as-outlook-for-apf-226256381.html?x=0&sec=topStories&pos=main&asset=&ccode=
In case you are wondering BNY Mellon deals only with large institutional depositors and does not deal directly with consumers, so I hope the media will not skew this move by the custodial bank.
Article - "Bank of New York Mellon adds fee to deposits - Citing cash influx, Bank of New York Mellon adds 0.13 percent fee for large deposits"
http://finance.yahoo.com/news/Bank-of-New-York-Mellon-adds-apf-3353726022.html?x=0&sec=topStories&pos=5&asset=&ccode=
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-05, 00:35 am EST)
Thursday, August 4, 2011
2011-08-03rd (Wed)
In the previous trading session I had no positions.
I was 100% in Cash.
In today's trading session US markets continue to sell off in the first hours of trading before staging a come back to gain slightly at the end.
Since the magnitude of the come back was not significant I cannot assume that investors have regained confidence, but suspect it is a moderate degree of Short Covering.
It would seem the over whelming skew towards the downside has subsided as the volatility indexes tamed slightly, but I would still say there are more bears than bulls.
Technology stocks will be the first to be bought back when signs of economic slowdown ceases to free fall and appears to stable.
Article - "Dollar against most, investors eye US debt rating - Euro, yen stronger versus dollar; volatile versus franc after Swiss bank moves on rise"
http://finance.yahoo.com/news/Dollar-against-most-investors-apf-3326505081.html;_ylt=AtqVX0lD3zQub3v9m2oW6Yexba9_;_ylu=X3oDMTFlZjJjbWcxBHBvcwM5MQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNkb2xsYXJhZ2FpbnM-?x=0
Article - "Japan Intervenes to Tame Yen, Central Bank Easing Eyed"
http://www.cnbc.com/id/44012398
I had known on 2011-08-01st (Mon) that the USDJPY may rally for Reuters and CNBC had reported what I thought was BOJ's red herring.
Finance Minister Yoshihiko Noda's reasoning for weakening the Yen was to help Japan be more competitive in exporting cars, and I could not see the net benefit to GDP = C + I + G + Net Exports.
Article - "Japan readying intervention to reverse yen: report"
http://www.reuters.com/article/2011/08/01/businesspro-us-japan-yen-intervention-idUSTRE7704LC20110801
In the past I would have shot first and asked questions later, clearly I am still shaken up.
Ultimately as trader only the trades matter.
My head is still spinning from the beating we took on Monday and our purchasing power was significantly reduced so I am still reluctant to pull the trigger and resume trading.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-04, 01:43 am)
I was 100% in Cash.
In today's trading session US markets continue to sell off in the first hours of trading before staging a come back to gain slightly at the end.
Since the magnitude of the come back was not significant I cannot assume that investors have regained confidence, but suspect it is a moderate degree of Short Covering.
It would seem the over whelming skew towards the downside has subsided as the volatility indexes tamed slightly, but I would still say there are more bears than bulls.
Technology stocks will be the first to be bought back when signs of economic slowdown ceases to free fall and appears to stable.
Article - "Dollar against most, investors eye US debt rating - Euro, yen stronger versus dollar; volatile versus franc after Swiss bank moves on rise"
http://finance.yahoo.com/news/Dollar-against-most-investors-apf-3326505081.html;_ylt=AtqVX0lD3zQub3v9m2oW6Yexba9_;_ylu=X3oDMTFlZjJjbWcxBHBvcwM5MQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNkb2xsYXJhZ2FpbnM-?x=0
Article - "Japan Intervenes to Tame Yen, Central Bank Easing Eyed"
http://www.cnbc.com/id/44012398
I had known on 2011-08-01st (Mon) that the USDJPY may rally for Reuters and CNBC had reported what I thought was BOJ's red herring.
Finance Minister Yoshihiko Noda's reasoning for weakening the Yen was to help Japan be more competitive in exporting cars, and I could not see the net benefit to GDP = C + I + G + Net Exports.
Article - "Japan readying intervention to reverse yen: report"
http://www.reuters.com/article/2011/08/01/businesspro-us-japan-yen-intervention-idUSTRE7704LC20110801
In the past I would have shot first and asked questions later, clearly I am still shaken up.
Ultimately as trader only the trades matter.
My head is still spinning from the beating we took on Monday and our purchasing power was significantly reduced so I am still reluctant to pull the trigger and resume trading.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-04, 01:43 am)
Tuesday, August 2, 2011
2011-08-02nd (Tues)
In the previous trading session I had no positions.
I was 100% in Cash.
In today's trading session all US markets imploded because the Debt Ceiling solution was a compromise deal that both Democrates and Republicans disliked, and worries of global economic slowdown has been moved from the back burner to the front.
Article - "Stocks on long losing streak as economy weakens - Dow falls 265 points; stocks extend losing streak as economy looks weaker by the day"
http://finance.yahoo.com/news/Stocks-on-long-losing-streak-apf-546864801.html?x=0&sec=topStories&pos=5&asset=&ccode=
Although Moody's gave face to Uncle Sam by slapping him on the wrist, China took a more realistic approach and examined the facts then made a judgement call.
Article - "China Rating Agency Downgrades US Debt"
http://www.cnbc.com/id/43996450
We may see more of this event unfolding in the days to come.
Bill Gross at PIMCO was interviewed on CNBC today.
My interpretation is he is not buying and holding treasuries in duration for cash flow, but will be trading them for short term profit.
Bill is not going to sit on the side lines and do nothing, he is going to act like who he is for it is in his core DNA and this is too exciting for him to ignore.
Article - "Next Fed Easing to Include Inflation Target: Gross"
http://www.cnbc.com/id/43991107
Ultimately as trader only the trades matter.
Our highest risk speculative commodities futures and forex portfolio took a beating that made our heads spin.
Our purchasing power was significantly reduced and we can no longer take liberal shot gun swings at the market, instead we have to veto nine out of ten proposed trades and only take the most confident sniper trade.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-02, 23:48 pm EST)
I was 100% in Cash.
In today's trading session all US markets imploded because the Debt Ceiling solution was a compromise deal that both Democrates and Republicans disliked, and worries of global economic slowdown has been moved from the back burner to the front.
Article - "Stocks on long losing streak as economy weakens - Dow falls 265 points; stocks extend losing streak as economy looks weaker by the day"
http://finance.yahoo.com/news/Stocks-on-long-losing-streak-apf-546864801.html?x=0&sec=topStories&pos=5&asset=&ccode=
Although Moody's gave face to Uncle Sam by slapping him on the wrist, China took a more realistic approach and examined the facts then made a judgement call.
Article - "China Rating Agency Downgrades US Debt"
http://www.cnbc.com/id/43996450
We may see more of this event unfolding in the days to come.
Bill Gross at PIMCO was interviewed on CNBC today.
My interpretation is he is not buying and holding treasuries in duration for cash flow, but will be trading them for short term profit.
Bill is not going to sit on the side lines and do nothing, he is going to act like who he is for it is in his core DNA and this is too exciting for him to ignore.
Article - "Next Fed Easing to Include Inflation Target: Gross"
http://www.cnbc.com/id/43991107
Ultimately as trader only the trades matter.
Our highest risk speculative commodities futures and forex portfolio took a beating that made our heads spin.
Our purchasing power was significantly reduced and we can no longer take liberal shot gun swings at the market, instead we have to veto nine out of ten proposed trades and only take the most confident sniper trade.
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 0% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-08-02, 23:48 pm EST)
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