Thursday, 28 February 2008

Position Update

Here are the trades I am active in:

Long NZD1.5m Short JPY at average of 82.90 (79.50, 88.00, 81.20).

Current rate 86.60: gain

Volatility has calmed down, but thought it was time to bank some gains, so halved the position, still expecting an eventual test of 90.00 this year.

Cashed out:
Long NZD1.5m (82.90 average) at 87.30 yesterday, for a gain of NZD75,600 (not counting carry interest).

Long NZD1m Short USD at average of 0.7500 (0.7300, 0.7700)

Current rate 0.8150: gain

Expecting a test of 0.8500 this year. But decided to bank some gains, so halved the position.

Cashed out:
Long NZD1.0m (0.7500 average) at 0.8150 yesterday, for a gain of NZD79,754 (not counting carry interest).

Long USD short 1m Euro at 1.4550

Current rate 1.5100: loss

Waiting for bad news on the Euro to run the EUR/USD back below 1.4000.
If 1.5300 is seen, I will double the USD Long position.

Long AUD1m short USD at 0.8720

Current rate 0.9400: Gain

Expect test of 0.9500 this year.

Total Gains :

That will keep the wolf from the door for the next wee while.

Next trade:
Looking to sell NZD1m buy AUD on a move into the 0.8800 area.

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