Thursday, 28 May 2009

Position additions

Added another long AUD1m short USD at 0.7773 today, thus making the position long AUD2m at an average of 0.7312.

Added another long NZD1m short JPY at 59.50, thus making position long NZD3m short JPY at average of 57.23.

Bought NZD1m sold USD at 0.6162 as a new position.

I liked the NZ budget, and so do the rating agencies, taking NZ off credit watch and returning NZ to a stable outlook.

Just need to find the time to post the new blonde of the month now!!

Thursday, 21 May 2009

GBP/USD Position

Closed out long GBP1m at 1.5690. More later, bit rushed at present!

Monday, 11 May 2009

Position Update

Here are the trades I am active in:

Long USD 3m short Yen at 103.10 average.

Current rate: 98.60
Current: loss
Looking for a rally up through 100.00 one day! This has become a long, long, long term position.

Extra background:
First short USD3m freeze trade taken against JPY at average of 96.97 closed at 89.63, generating gain of USD245,676.67, NZD423,580.47 (not counting carry interest).

Second short USD3m freeze trade taken against JPY at 95.90 closed at 98.10, generating loss of USD67,278.29, NZD112,130.48 (not counting carry interest).

Long NZD 2m short JPY at average of 56.10.

Current rate 59.70
Current: Gain
I am comfortable with carry trades with the NZD/JPY up nearly 27% this year! Will add more on a move to 56.50.

Extra background
Short NZD2m freeze trade taken against JPY at 53.50 closed at 54.02, generating loss of NZD19,252.13 (not counting carry interest).

Cashed out:
Long NZD3m (54.69) short JPY at 59.92, for a gain of NZD261,849.13 (not counting carry interest).

Current rate 1.3550
Still can’t make my mind up on EUR/USD. I could see it go either way, so best to stay out of it.

Long GBP1m short USD at 1.5050
Current rate 1.5180
Current: Gain
I think that there is too much bad news priced into cable, so have started to build a position. First for me in cable since I started this blog.

Long AUD1m short USD at 0.6850.
Current rate 0.7650
Current: Gain
Happier now that CRB index has broken higher. Will add to position in the 0.7350 area.


Current rate: 0.6075
Still waiting to see NZ budget and possible downgrade.

Previous balance: NZD1,508,334.34
Plus NZD/JPY gains of NZD261,849.13
Less USD/JPY (freeze trade) losses of NZD112,130.48
Less NZD/JPY (freeze trade) losses of NZD19,252.13
Total gains banked since August 2007:


Wednesday, 6 May 2009


Have been watching this for a while, and finally took the plunge.

Bought GBP1m and sold USD at1.5050.

Target 1.5500, review at1.4500.


Cut the USD3m freeze trade out at 98.10 and booked a loss from 95.90 (Of course, have a lesser loss on the original trade).

Overall I remain more comfortable being short yen and long USDs. Anything else, even as a freeze trade, does not sit right with me, so have taken the loss and back to an overall long USD position against the yen.

Will update progress to date on all positions tomorrow if I get the time.