Hello Pezz, Today’s Report:
As you know, I had earlier . . .
(a) Bought Japanese Yen here Message 22215365 (Mar 1st, 2006) at 116 to the USD
(b) Bought Japanese Yen and Swiss CHF here Message 22219846 (March 2nd, 2006) at 116 and 131 respectively to the USD
(c) Bought Thai BHT here Message 22308051 (March 29th, 2006) at 38.69 to the USD
. . . and today, I harvested the Swiss CHF and Thai Baht and placed them in Yen, at 111, give or take, and deleveraged.
I guess-timate the trades have so far yielded around gross 5% gain (10% net gain due to leverage Message 22219846 “… borrowed …” ) to the USD/HKD. Not too bad for a leveraged trade over such a short period of time.
I still got Swiss CHF and Thai BHT elsewhere, waiting for orders to de-camp.
I refrained from moving back to USD/HKD space because it is an arena likely to blow up. I do not care for the Japanese Yen territory, but, in the financial death match rally, the Yen may well have the ooommmph to pull ahead of the USD, relative to the Thai BHT and Swiss CHF. We just have to wait and see, and pray plenty.
I am hoping for the unexpected, a repeat of the blitzkrieg that saw the Japanese Yen at 85 to the US Buck at one frightening moment, doing the nasty to the carry crowd.
Of course, the Yen may do a nasty on me and tank back down to 115 instead; ouch.
Chugs, J
P.S. You are correct if you guessed that I do not understand what is going on with the math either, how I can remain standing still, earn no interim interest, pay a small interest
charge while waiting about 60 days, and wind up 'winning'.
It is all very mysterious. |
