It FINALLY paid off. Strange. Baby wakes me up (she never does) at 3:30 am. I decide to see what's going on since it spiked up to 1.2070 yesterday. Heart pounding as I see it at 1.2151 and I sell with a position of 4.5 million at 1.2020.
Needless to say I gave her a lot of milk in celebration :)
I closed all my positions with a total profit of $53,253. I would have hung on longer, but Ben opened his big mouth. I wouldn't be surprised if this hit 1.60 now :)
Added 200,000 more at 1.4330 which is a technical level and close to a resistant trendline. If it closes above 1.4350 I will close my trade and look to enter short elsewhere.
Just updating my trade.
I am now at 280 pips profit with 1.5 million shares short for about $42000 in profit. I will be looking to increase my short position as prices move back towards moving averages.
Woke up today to a pleasent surprise.
Up an average of 187 pips with 1.08 million shares for about 18,000 profit so far.
Maybe somebody leaked news that Greece will not pass austerity in parliament?
People who are trying to reap the rewards of a simple carry trade. They think everything is stable right now. But if Greece does default, which is unlikely anytime soon, then others are next, and you can kiss the Euro to at least 1.18.
In my opinion, I do not see the EURO breaking the recent high of 1.49 in the next couple of years. Even if there is a QE3 and the FED keeps interest rates low for some time to come, I think most investors realize the EURO is a failed project.
Greece WILL default. It's debt is unsustainable...
The CME Group raised U.S. crude oil futures margins by 25 percent as of the close of business on May 10, helping to bring prices down following a $5 a barrel spike on Monday.
CME [CME.O 295.01 3.42 (+1.17%)], parent of the Chicago Board of Trade, said on its website that it had hiked...