Thursday, December 18, 2008

Yen Cross Spike

Guess who was lucky enough to wake up at 4:00am this morning?

At around 4:20 there was a massive spike in my AUD/JPY holdings. I'd accumulated some positions on the way up from 58.xx and unloaded them as it made a 63.xx rocket launch. Checking out my news sources it seems that various stops were triggered. Given that market conditions were thin the price went nuts.

Anyway, though my open trades had been hampering the idea of swing trading, I've cleared my plate realizing a 36% one day NAV gain. Holy crap.

I have to say it was hard to unload my positions while the price was going through the roof... but now, as the price dips, it was obviously the right move.

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