It's not his fault, it's the marginal gain approach imploding and taking anyone who uses it with them. This is how it should be done http://www.ustream.tv/channel/3CYHkspXE5t (make sure to choose 1080p).
Get Long The GBP
- Thread starter vanzandt
- Start date
Parity, but that call was made in July 2013, how it gets there is another matter.
Cable has not friends and is getting beat up on all fronts.
Three months ago the real traders knew the future value of sterling Monday, 27 Jun 2016
http://www.cnbc.com/2016/06/26/poun...-further-as-brexit-uncertainty-continues.html
Singapore bank DBS warned, "it is premature to conclude that the worst is over," adding that its worst-case scenario was for the pound to fall 10-20 percent on a trade-weighted basis. That implied the pound could fall to $1.15-$1.25, and could even "overshoot" to as far as $1.05, DBS said.
http://www.cnbc.com/2016/06/26/poun...-further-as-brexit-uncertainty-continues.html
Singapore bank DBS warned, "it is premature to conclude that the worst is over," adding that its worst-case scenario was for the pound to fall 10-20 percent on a trade-weighted basis. That implied the pound could fall to $1.15-$1.25, and could even "overshoot" to as far as $1.05, DBS said.
Weekly 1.22 put is 62 to buy
It's the perfect long-term trade considering the upside vs. downside potential. What happens in the short-term doesn't change that macro view. Like I mentioned before, dollar cost average into it every month for six months.
It's a trade in my IRA that I'm comfortable sleeping with at night. I only buy and hold tangible assets and never average down daytrades. To answer your question though, I'll average into any price under 1.30. I estimate that it will outperform the US Dollar and S&P within 24 months.