Friday, September 26, 2008
Well, what do you know?
The trade is still open, and I haven't moved the stop. It's been up very nicely, and it has come within 50 pips of stopping out. We'll see what happens.
Regarding the images... The markets are considering one of these two clowns to be a superior credit risk. Credit default swaps on the topmost clown are trading at 30 basis points. The clown below rates 29 bps. This is as it should be... the guy on the bottom does something useful for the human race-- namely keeping this trader happily stuffed with double cheeseburger deliciousness for the paltry sum of 1 Federal Reserve Note each! The lying, larcenous murderer on the top, however, has done nothing but threaten my life at every turn, insist he's doing me a favor, and force me to pay for the privilege. Thanks to Lila Rajiva for bringing this development to my attention.
Current closed equity: $29.40 (Losing a bit on carry.)
Current position: Short 750 GBP/USD at 1.8566
Current exposure: +50 pips locked in, +$3.75 or +12.76%
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