At the end of the previous trading session I had no positions.
I was in 100% Cash.
In today's trading session all US markets continued to fall on worries of PIIGS debt worries, despite some predictable US company earnings.
Article - "Fed divided over more stimulus as economy weakens - Fed officials worried about US jobless, but divided over whether to consider more stimulus"
http://finance.yahoo.com/news/Fed-divided-over-more-apf-1741332027.html;_ylt=AnSls39_gJOVQJlZPi7e4iyxba9_;_ylu=X3oDMTFlNGl2dm44BHBvcwM5MwRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNmZWRkaXZpZGVkb3Y-?x=0
While the $600 billion purchase program, known as QE2, winds down, the Fed said June 22 that it will continue to buy Treasuries with proceeds from the maturing debt it currently owns. That could mean purchases of as much as $300 billion of government debt over the next 12 months without adding money to the financial system.
Article - "Fed May Buy $300 Billion in Treasuries After QE2"
http://finance.yahoo.com/news/Fed-May-Buy-300-Billion-in-bloomberg-1457319130.html;_ylt=Ak2_x5xz6bQMxVJZfJMT5vS7YWsA;_ylu=X3oDMTE1aWZlcGNuBHBvcwM0BHNlYwN0b3BTdG9yaWVzBHNsawNmZWRtYXlidXkzMDA-?x=0&sec=topStories&pos=1&asset=&ccode
The spreads of debt in PIIGS countries continue to widen.
Article - "Sovereign Credit-Default Swaps"
http://www.cnbc.com/id/38451750
Bill Gross of Pacific Investment Management Company (PIMCO) was reported to be Long US Treasurys.
Article - "PIMCO's Gross Raises US Treasurys in Flagship Fund"
http://www.cnbc.com/id/43733676
As circumstances change so does his investment strategy.
Article - "Everyone on Wall Street Agrees with Bill Gross: Short Treasuries"
http://www.cnbc.com/id/42536993
Article - "China Secures First Top Post at IMF"
http://www.cnbc.com/id/43733101
Article - "China's economic growth eases amid rate hikes - China's economic growth eases to 9.5 percent amid rate hikes, anti-inflation battle"
http://finance.yahoo.com/news/Chinas-economic-growth-eases-apf-2533726777.html;_ylt=AnnaPku53RauMVXE19iq0Yixba9_;_ylu=X3oDMTFkZ2hkZjIwBHBvcwM0BHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA2NoaW5hc2Vjb25vbQ--?x=0
Ultimately as a trader, only the trades matter.
I am cautiously looking for the US Dollar to strenghten in the short-term as a flight to safety.
Buy-To-Open 300,000 USDJPY at 79.438 (2011-07-12, 22:03 pm EST)
Buy-To-Open 200,000 USDCAD at 0.96322 (2011-07-12, 23:09 pm EST)
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 79.510 (2011-07-13, 01:21 am EST)
USDCAD is currently 0.96317 (2011-07-13, 01:21 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 16% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-07-13, 01:22 am EST)
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