Thursday, December 3, 2009
UDN & YCS
I've made over $200 on trading in & out of the UDN thus far for the past month or so. I initiated a small position (100 shares) in the YCS because there may be a temporary bottom in the Yen as the Japanese are appearing more serious about reversing their currency's continued strength. If you look at a daily chart it may appear that I have called a bottom but my stops are tight. The YCS is gapping way up this morning as I type. I would do options on both these but they are too illiquid.
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A rush to devalue global currencies will utlimately fuel the gold bubble. I initiated a small 100 share position in YCS. In the last 2 days I'm up about $50 with a tight stop to protect my short-term gains. I will look to add if the yen continues to rise.
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