Bernanke Fires Up the Printing Presses
Surprisingly, the markets were not amused by Ben’s announcement, as the dollar suffered it’s largest one-day decline since 1971, while gold got a nice pop, rallying from sub $900, currently sitting around $950 as I type.
Gold’s recent rally may have had something to do with the fact that it, unlike the US Dollar, cannot be created out of thin air.
If You’re Short the Yen, You’re Long the Dollar – Oops
The past couple weeks I’ve been on my soap box, calling the demise of the Japanese Yen
. I made the case that the Yen was circling the toilet bowl at a faster rate than the US Dollar.
The Yen spiked sharply, and unfortunately I was stopped out of my short position at a large loss. After I was stopped out, then Yen continued to rise a bit, and has since corrected back down.
This is why my wife yells at me for trading currencies.
Ah well, sucks, but have to respect your stops.
I have to admit, this trade gone awry may have killed my appetite for currency trading for awhile. It was easy when the dollar was on a one-way trajectory to the cellar.
Things are just a bit too crazy in the currency markets right now for an armchair trader like me to figure out.
Depression Economics for Kids
The exhibit will teach kids such valuable life lessons as staying ahead of inflation, and diversifying your investments.
You can’t make this stuff up.
Current Futures Positions
Date Position Qty Month/Yr Contract Entry Last Profit
02/27/09 Long 1 MAY 09 Sugar #11 13.79 13.42 ($414.40)
Net Profit/Loss On Open Positions ($414.40)
Current Account Value: $25,312.72
Cashed out: $20,000.00
Total value: $45,312.72
Weekly return: -12.7%
2009 YTD return: -50.2% (yikes)
Prior year’s results:
Initial stake: $2,000.00