Sorry for the lack of blogging this week — I have not been very efficient (tired for some reason) and therefore devoting my useful time to work.

I have been stopped out of wheat and soybeans — both only just. This is annoying. I placed the stops rather too mechanically and should have thought about where a likely support level would be.

Gold and treasuries both seem to be working, although my entry into the latter was awful. It has generally been a good idea to wait for a re-test of the breakout in this market, but happily I have now survived that.

I took off the long EUR/GBP trade for no loss. The day after my trade it rallied on low volume, and thrust had been poor on the original breakout day, and the rally just didn’t feel believable. I felt awful about this as the market then rallied, but now it has come all the way back and re-tested the breakout level. I am not inclined to trade the day before the European stress tests.

CURRENT POSITIONS
Long US Treasuries
Short Gold

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