Saturday, March 20, 2010

Week Wrap

Positions
CCL short/ GFF long
UStec short/ ATVI long - ATVI started moving higher this week.
SP500 short/ EURO long - absolutely stretched to limits
DJS short/MYR long - played the MYR div, DJS also fell significantly
WMH long - WMH is moving higher - although I need to increase more exposure

Total leveraged positions: $53722.68

Macro

sp500/euro - I'm close to being down 1k on this position; for some reason I don't feel as 'sick' as I should be feeling, given that the loss is close to 6% of my total portfolio.


US Markets
The probability of the market being down this week didn't eventuate - mostly flat to slightly positive for the week.
Down last night, but still up 14 out of last 15 sessions, with low volumes abiding. During the week the confidence figures came in with a higher low, fed re-iterated its extended low rate, manufacturing showing strength, retail sales also showing positive readings. Basically the economic factors are slowly catching up to the market's bullish run.

Euro
The divergence between sp500 and euro keeps widening, as the greece sovereign issues continue to face headwinds for progress; europe claiming it won't be bailing out greece. Last two nights saw all my profits on the trade wiped out.
I'm starting to think, in hindsight, this position would've worked better to be short the greek market whilst hodling the sp500 short/ euro long - although i can't see how I would be able to trade the greek index.

On a positive note for my euro long; there was a 40% drop in speculative euro short positions in the past week.

Oil/Gold
Looks like the two plays are topping out for the short term, looking like selling out of LGL was a good play - may get a chance to re-enter the position during next week.
Oil is retracing perfectly @ the 82 level, might look to short some oil stocks next week.

AUD
Australian dollar also fell to end near the week's average - although the uptrend, and the positive sentiment as a outperforming asset over the next few months still remain. I'll probably look to add some AUD near the 90.00 level - to offset some euro risk.