Here are the trades I am active in:
AUD/JPY
Long AUD 3,735,990.04 short JPY at 82.79 average.
Current rate: 84.88
Current: Finally!! A Gain by 209 points.
Comment:
By buying AUD I have converted this trade from a crappy USD/JPY deal to a AUD/JPY deal. See post here. Target is 85.00 enroute to 105.00.
I remain comfortable with carry trades.
Extra background:
Sold USD3m and bought AUD at 0.8030, thus making the USD/JPY trade long AUD3,735,990.04 short JPY at 82.79.
NZD/JPY
Long NZD 3m short JPY at average of 57.23.
Current rate: 69.42
Current: Gain 1,219 points.
Comment:
I remain comfortable with carry trades with the NZD/JPY up over 56.5% this year!
Happy with the current exposure.
EUR/USD
Square
Current rate: 1.5000
Comment:
Overall I see the USD weakening considerably due to quantitative easing pressures. Recent data, especially in housing and unemployment indicates there is no pressure to change monetary policy, and easy conditions in the US will be the norm for a considerable time yet to come.
Cashed out: Way too soon!
Long EUR1m (1.4465) short USD at 1.4550, for a gain of USD8,500.00, NZD12,142.86 (not counting carry interest).
AUD/USD
Long AUD2m short USD at 0.8670.
Current rate: 0.9222
Current: Gain 552 points.
Comment:
I took profits (see below) at 0.8610, but then reinstated again, as it is clear that the AUD/USD has a long way to go yet. Target is now 1.0000.
Cashed out:
Long AUD2m (0.7312) short USD at 0.8610, for a gain of AUD301,509.87, NZD369,950.76 (not counting carry interest).
NZD/USD
Long NZD2m short USD at .7160.
Current rate: 0.7542
Current : Gain 382 points.
Comment:
I took profits (see below) at 0.7010, but then reinstated again, as it is clear that the NZD/USD has a long way to go yet. Target is now the highs of 0.8216.
Cashed out:
Long NZD2m (0.6241) short USD at 0.7010, for a gain of NZD219,400.86 (not counting carry interest).
Unrealised gains NZD886k (AUD/JPY +112k, NZD/JPY +527k, AUD/USD +146k, NZD/USD +101K).
Previous realised balance: NZD1,742,865.90
Plus EUR/USD realised gains of NZD12,142.86
Plus AUD/USD realised gains of NZD369,950.76
Plus NZD/USD realised gains of NZD219,400.86
Total gains banked since August 2007:
NZD2,344,360.38
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3 comments:
So Kiwi, I'm sure all your other fans are wondering too: did you get out before the recent big dip?
No. Although did chew some fingers up along the way!
Trying to stay with a long term view. Sharemarket ructions make this harder, but I am trying to look through the US herd mentality of the equity markets.
So sticking with current positions!
That's confidence. :D
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