Saturday, November 30, 2013
GBP
Ug, its frustrating, but i've had to abandon the short GBP position. It has been breaking through resistance in an illogical stream of strength for the past month or so. There is little fundamental information to drive this... it seems largely based on the theory that QE paces will continue at current rates in both contries. That being said the current sentiment may continue for a while until a "shock" hits to spark a retracement. It's sad but I don't want to continue waiting for this moment.... I feel like the gold bugs right now, holding and holding knowing your position is fundamentally right over the course of a decade but continuously taking short term losses. Oh well. I continue to be short EUR and Long USD/JPY, maybe that can get me out of this rut. On the bright side.... bitcoin has gone up 1000% percent in the last month. I suppose this is what keeps me from sitting at the bar alone in depression at this point.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment