Friday, April 1, 2011


No really, here, but quiet on the blog front due to life happening. I have taken some swing (about to become long) positions, most notably YCS, which is short the Yen. I have tried this trade once before and got stopped out in short order, but this one has gone well, getting in on the string of almost-doji days at 15.40 . I have sold 1/3 of it already, but this is a long term play, and I think now is the time as governments seem to have agreed to do what they can to devalue the Yen and stimulate the economy there. This is a good fundamental play, and I will look for another technical entry to add more. Check the long term weekly FXY chart for the potential in this trade.

My only other current swing position is a smaug-like horde of SLV and DGP that I have been entering over the past two weeks (on top of my core SLV stake from last August). I think these will execute next week, or I will get stopped out if they break down through the 20 and close there. If they move up I plan to hold on to these a very long time, hoping a C-wave scenario plays out in PM's, a possible outcome that cycle style traders are hot on right now. Silver has been outperforming gold, but I dropped a little SLV for DGP in case they swap roles. Things tend to stay the same, so likely this move is not the right one, but I made the move anyway.

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