Saturday, February 20, 2010

Trade 225/226 short ccl /long lgl

Trade 225/226 short ccl /long lgl

On the 17th I Got into 450 short CCL @ 10.96 and 1720 long LGL @ 2.84 - painful because the price moved sharply against me in both directions; equivalent of getting man-raped by turkish futsel players AFTER they've had a workout. My loss is hitting close to $500 on my total CCL position (another coupled position with GFF) and it's hurting a lot.

basically I wanted gold exposure as I feel there could be a upswing in the Gold assuming the US dollar doesn't spike higher -

interesting how the bernanke screws me the next day with his 0.75 announcement and USD starts moving higher.

I shorted CCL because I wanted to protect my long LGL position; stupidly I forgot that the current CCL upswing was based on the upcoming monday dividend of 25c.

Looks like I will be riding this trade for at least a few weeks. - the divergence is getting even wider.