Global Macro Trading Journal

Just re-shorted some euros. Cost myself 95 pips covering yesterday evening. Today's action was pretty ugly, and I've got a queasy meltdown-coming-on feeling in my stomach. It makes sense to remain short euros and hold onto my S&P puts for awhile longer.
 
Quote from ralph00:

Vote in New Democracy or PASOK (or some coalition of the 2) in June and Brussels will throw Athens a bone.
More...

Ah...they said they would *consider* throwing Athens a bone :D How generous of them.
 
ZH tweet that actually makes sense
"Greek president uses bank run on Monday as leverage to form government; He fails. Now suddenly bank run is over after no govt formed."
 
Greeks have been drawing down deposits at €700M/week for 2 years. As much to do w/a contracting economy as it is about mattress stuffing.

Slept on it and decided I made the right decision on Monday night. Back out of euro short. No blood.
 
Quote from Debaser82:

Still nobody here buying goldstocks?

Massive carnage, gold itself down from 1920$ to 1530$...

:D
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If all you have is a hammer, everything looks like a nail.
 
Quote from Debaser82:

Still nobody here buying goldstocks?

Massive carnage, gold itself down from 1920$ to 1530$...

:D
More...

The gold stock debacle is hilarious, as is the brutal unwinding of the supposed "no brainer" inflation trade. This is what happens when you load a boat with questionable assumptions and weak hands.

And true "massive carnage" in gold would be returning to a three handle (e.g. $999)...
 
Quote from Debaser82:

Still nobody here buying goldstocks?

Massive carnage, gold itself down from 1920$ to 1530$...

:D
More...

Still nowhere near 2008's decline of 30%.

I have been buying, I actually significantly increased my gold-stock position yesterday at the close to around 10%. Would love to double that once the price action turns bullish
 
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