No changes to the portfolio this week. New highs in my gold, silver and yen shorts. Make sure to look back through all the time-stamped posts below showing week to week changes; this isn’t fantasy football.
Keep a lazy eye on the Aussie dollar.
Reversing China and Crude Oil shorts at a loss … Yen short hits new high, crazy gains there, even better than shorting the FAZ. Australia and Korea fighting back with surprise rate cuts, but the Japanese are on a mission… expect the yen to weaken further.
Reversals I made on 4/22 proved to be very bad decisions, leading to multiple double-digit whipsaw losses. We’ll just have to fight to make it back is all.
The trouble with being completely honest and transparent is having to reveal when you get things wrong. :-)
Two changes this week as we cut some losses … reversals made last week appear ill-timed, esp. our energy shorts. We’ll cut our losses in those soon enough, I expect. Always painful to get whipsawed but that’s the life of a “trend trader.”
Reversing six position this coming Monday, study the table closely. Panic selling in the precious metals made our gold and silver short positions jump dramatically.
No changes to the ETF Trading Portfolio this week. Some huge gains this past week, especially big jumps in our gold and silver shorts given the precious metals collapse last Friday. It’s nice to be on the right side of nearly everything.
One change this week … will reverse the long in basic materials (with a small gain) and get short. Everything else unchanged. Entry prices adjusted for reverse splits. Yen short has made nearly 40% now (unheard of for a currency trade), silver short really kicking in, gold short lagging a bit. Our TBT position doing ok now given last week’s dramatic drop in rates.
Hard to find people who reveal what they’re doing in their trading portfolios week to week, but I’m happy to share.
Been long crude since last Christmas, making OK money now. Our precious metal shorts are doing fine despite the confiscation of private savings on Cyprus … I figured beleaguered gold and silver would get a bump from that, but no.
No changes this week. Precious metal shorts taking a bit of a hit given the confiscation of private savings on Cyprus (even if it is dirty Russian money). A coordinated attack on tax havens (Cayman Islands, British Virgin Islands, Isle of Jersey, Cyprus, etc.) would put a chill through the global capitalist class … but Western governments now desperate to raise revenue. Something to keep an eye on…
Two changes this week … we will exit the long positions in Emerging Markets (EDZ) and China (FXP) and reverse short.
Read closely: Central bank focuses on inflation
Good week for us despite being whipsawed by the TBT. Short yen now up nearly 35%, a pretty amazing move.
ETF Trading Portfolio Update
Big spike in the bonds last Monday means we have to exit the TBT for a small loss. Can’t fight the Bernank, who recently said: “my reflation record is the best of any Federal Reserve chairman in the postwar period – or at least one of the best.” ;-)
Inverse VIX has turned into a loss. May be awhile till I pull the plug on it though, will sit for now. Short gold and silver still doing OK.
Countertrend move in long-held short probably spent here… still bullish on China.
No changes this week … finally our gold short starts making decent money … also able to make a bit back after the whipsaw in silver.
Whipsawed by the silver, back to back losses there … other than that things are going swimmingly.
Sounds like the Europeans and Japanese have come to some kind of agreement so the yen short has probably run its course. The gold short is finally making a little money, but that could quickly reverse.
