Wednesday, July 25, 2012

Never Jump

As you may recall, I initiated my Yen short a few weeks back with a few longer-dated FXY put options.  I was careful to mention that I was only dipping a toe, rather than going full throttle, because I had a sense that the near term would be uncertain.  Well, at least I got that part right.  Since putting on that position, the price action has only gone in one direction: against me.  Nevertheless, the chart is currently at a point where you might expect price action to reverse, and hopefully start going my way.  For the time being, I don't plan to follow that strategy by adding to the position.  Nevertheless, I still offer a chart for your consideration (USD/JPY captured).

Broken Money

The subtitle is Why Our Financial System is Failing Us and How We Can Make it Better , and the author is Lyn Alden (2023). I feel like I hav...