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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (38187)9/13/2003 12:13:34 AM
From: Haim R. Branisteanu  Respond to of 74559
 
Jay will post some graphs links of the EUR. The EUR rise looks quite scary ...... like a panic selling of the USD

home.nyc.rr.com
home.nyc.rr.com
home.nyc.rr.com
home.nyc.rr.com

By Labor Day I anticipated a turn in the USD lower, only to get clobbered on the night between Sept 1 to Sept 2.

Message 19260345

I do not know who the heavy buyer of USD was who started buying around 4 GMT - it seems to me some Far East entity. A day later the USD reversed direction sharply to claim back a full month of decline in mere 7 business days.



To: TobagoJack who wrote (38187)9/13/2003 12:32:33 AM
From: Haim R. Branisteanu  Read Replies (2) | Respond to of 74559
 
My core holding is EUR's and borrowed 6 figures USD against it, a year ago when the EUR was around 0.97.

My dynamic hedging is the one I got hurt. IV's are around 10.5% at a time that the swings are around 4% a week.

As comparison QQQ options achieve IV's of 25% to 30% at such sharp swings ivolatility.com