Friday, October 10, 2008

Holy ...!!!

Un-be-freaking-lievable moves. Again, I came within a hair's breadth of being stopped out in a short-squeeze. It's possible that we've seen the panic low in equities and in this pair. Time will tell, but since the USD/JPY has pulled back from today's high and the USD is screamingly strong against the other major currencies, I figure this is a good place to lock in some more profits. I hate moving stops this close, but it has been a great run so far, and I'd hate even more to give up so much of the hard-won gains. There are always other trades coming down the line... I'm eyeing both EUR and GBP for possible longs next week.

Current closed equity: $76.08
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 535 pips locked in, +$80.25 or +105.48%

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