Friday, August 19, 2011

Quick update

Busy times over this way.

We got out of the ESQ1P Fly 1150/1125/1100 during the day today... Avg price was around 10.17pts. Entry @ 2.70.

Posts here:

Entry: 11-Aug

Exit today:

35% @ 8.5
35% @ 9.9
30% @ 12.45

Also got out of the currency basket.

More on that later.

I'll finish this quick post with a question:

What can the G7 do?
Printing money means currency debasement.
No wonder precious keep going up.

Now there's no economic activity.

Be back later with more thoughts.
*Disclaimer: charts and data are presented as I receive/see them. Sources are usually not checked for validation and my own calculations are of 'back of the envelope'-type. I am aware that some math that I do myself might be wrong and/or misleading to some extent. In financial markets the rate of change of economic data is often more important than the actual level and the perception of 'what is priced in' is more important than 'what is actually going to happen'. This is actually the way people pick entry and exit points. So... yes, sometimes you might say 'This guy is an idiot, this is way wrong!' with a high conviction, being right. Not to worry. Markets are made of expectations and the clash of conviction between its participants. Portfolio managers know that being an idiot is sometimes profitable and being smart is often a bad choice. It is all reality, sometimes good, sometimes bad. By the way: corrections to my analysis and intelligent debate is welcome. theintriguedtrader AT gmail do com

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