Tuesday 15 November 2011

Trade Recap at the Close

After a very volatile day, with market reversals occurring at least twice on flashes of news and rumour, our FTSE exposure ended up flat.

I closed the call option at a small loss around 3:30pm and later made small profit on a FTSE short as the market overreacted to an inconsequential piece of US economic data (alongside a misconstrued remark from a FED official about further QE).

THe USDJPY hedge remains open having done very little at all today (lesson learned). We believe it still has further to go and would continue to target 76.10
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