Last week i closed my worst position GE and realized my losses. I additionally closed USO with a small loss. The backwardation in Oil is looking weird, may be i am too early but i do not care. What i do recognize is a rise in volatility which is whipsawing a lot of traders, one day + 2 % the other day – 2 %. Market is preparing the next move and i suppose it will be to the downside, but i do not know of course. The market seems to be damaged and i have a lot of concerns about more wars (Syria, Jemen, Saudi Arabia, Turkey, Iran, Israael, Palastina), it feels like a ticking time bomb.
I bougth FB because i think this giant will survive, i am watching PG but i took some profits out of my best postions like STX, GWW, TGT, VALE. I closed my EUR/JPY long with a profit of +9 pips, but i hold my USD/JPY long (which means that im shorting JPY). I do not trade for 9 pips, my goals are several hundred pips. I opened CAD/CHF long and will wattch the currency markets closely. IF USD rises it will bring more stress to emerging markets (they have all debts in USD) and of corse LIBOR (which raised for 37 days in a row). If it goes down it will be brutal. I reduced my long portfolio and stick to my hedges. Time will tell the story.