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Monthly Archives: August 2014

This afternoon, the Markit Mfg PMI came out weaker at 55.4 versus forecast of 57.2 and lower than previous month of 57.2.

FireShot Screen Capture #091 - ' - fddb65e3f7734f7489a302482e5a00bf' - www_markiteconomics_com_Survey_PressRelease_mvc_fddb65e3f7734f7489a302482e5a00bf

What is comforting is that the manufacturing PMI has been posting above 50 levels since this year.  However, I believe the market will still take the lower PMI negatively.

So I decided to do a quick trade by shorting the GBPUSD at 1.6865 and squared at 1.6835 for a trading profit of 30bps or 3%.

 

On 22 July, my technicals suggested to me that I should long the EURUSD, so I bought a call option expiring 8 August, strike at 1.3485, premium of 65bps and a breakeven of 1.3550.

Right now, as I am posting this trade, it looks like I was wrong, then again, let’s see, after all we have time.

My stochastics and ichimoku told me to short the GBP which I did at 1.7070 and I subsequently, squared the position half an hour later at 1.7035 for a trading profit of 35bps or 0.35%.

As we all know, the market turned south for the Euro, and unfortunately, my call option expired worthless, and my loss was the premium paid of 20bps or a trading loss of 2%.