Skip navigation

I was looking for a trade today.

Decided to do a straddle on the GBPUSD with the following details: –

Stop if Offered; 1.2790, Spot 1.2818, Stop if Bid; 1.2838

As it turned out the Stop if Bid was triggered as Claimant count came in lower at 6K versus 10.5K expectation.  Unemployment also improved slightly from 4.6% to 4.5%.

Am still holding the spot position with SL at 1.2838.

Let’s see.

I didn’t feel comfortable about the GBPUSD so I decided to square the option at 1.2875 for a trading profit of 45bps.

Felt that the AUDUSD was not going south as strongly as I had anticipated so decided to square the option at 0.7580 for a trading profit of 57bps

The 1H chart looks so yummy with the EURUSD bursting downards of the Ichimoku clouds.  It also cut from the top the 200DMA.

It suggests to me that in the short term there could be further weakness in the EUR.

I decided to buy a 2 week EURUSD Put Option expiring on July 14 with the following details: –

Spot: 1.1320, Premium: 50bps, BE: 1.1270

Let’s see.

I also felt that the AUDUSD was unsustainable.

So I decided to buy a one month put option with the following details: –

Spot: 0.7692, Premium 70bps, BE: 0.7622, Expiry: 2 August

Let’s see.

I felt that the GBPUSD was too high and unsustainable.

On July 3rd, I decided to buy a GBPUSD put option for 1 month with the following details: –

Spot: 1.3020, Premium: 100bps, Breakeven: 1.2920, Expiry: 2 August

We will see.

On July 3rd when USDJPY crossed 113, I decided to take profit on my 1 month USDJPY call option.

The 1 month call option had an expiry date of July 10 and a BE of 110.52.

I squared the option at 113.20 for a whopping trading profit of 2.68 yen!!!

Now to continue monitoring the outstanding 3 month call option expiring in September which is in the money now.

As a patriotic Singaporean, I am upset and appalled and what Lee Wei Ling (LWL) and Lee Hsien Yang (LHY) are doing to their own family, more importantly, to Singapore and to Singaporeans.

Treason – the offense of acting to overthrow one’s government.

As intelligent and educated persons, doesn’t LWL and LHY know well enough that they shouldn’t wash the family’s laundry in public.  For goodness sake, you come from a politically infludential and politically sensitive family, you need to behave yourselves.

Today, you have shamed and hurt Singapore’s reputation, you have damaged Singapore’s economy, you have offended and betrayed Singaporeans.  No wonder, you wish to migrate, you have chosen to condemn Singapore and hurt Singaporeans, why should you continue to stay in Singapore?

Your movitation is simply GREED.  LWL obviously has a problem, after her father’s passing, she has been posting degorative articles about our Singapore government, certainly she couldn’t or wouldn’t have been able to, as long as her father, Lee Kuan Yew (LKY) was alive.

In one of his last interviews, LKY told the reporter that he would prefer to demolish his home because he didn’t want the government to waste monies to preserve his home as a Singapore heritage.  LKY is a simple and very practical man, he didn’t see the value of the government wasting monies preserving his home just as a memorabilia of him as the first PM and the man who built Singapore. In fact, he eluded that his neighbours are all condominiums and that it would be better to demolish the home, change the land planning use and sell for higher value.

Since LHL was working so closely with his father in government and in personal life, it was no surprise that 38 Oxley was bequeath to LHL separately from the rest of the assets which was divided amongs the three siblings.  All the problems would have been avoided if LHL had kept 38 Oxley and then sell it to the government for the government to preserve it as a heritage memorabilia of LKY.  Proceeds of the sale, LHL can donate to charity. Nice and clean.

However, as the eldest in the family, he wanted to be fair by his other siblings.  So, he sold 38 Oxley to LHY and the sale proceeds he donated to charity.  LHL did not benefit from it at all.

Why is LWL and LHY so insistent on demolishing 38 Oxley?  If it’s demolished it cannot be preserved as heritage. Then, they can submit a change of use to condominium status and sell for $$$$$$$$$$.  So you see, it’s GREED that is the motivating factor, and to use their father’s name in vain, to malign the government and to maliciously attack their brother LHL………………….sigh…………such unfilial children and horrible siblings…………LHL is right, his parents will turn in their graves!

I am saddend that LWL and LHY are demolishing the reputation and establishment of the Lee family.

 

 

FOMC is fixated on inflation and jobs creation and early this evening was the US; Retail Sales and CPI, which I felt would be a highly volatile event data.

So at about 8:14pm, I decided to put on my straddle on the EURUSD and USDJPY with the following details: –

EURUSD

Stop if Offered at 1.1170, Spot at 1.1202, Stop if Bid at 1.1230

USDJPY

Stop if Offered 109.90, Spot at 110.28, Stop if Bid at 110.58

SLs all established at 30bps away.

As it turned out CPI and Retail Sales bombed!

Both my EURUSD and USDJPY were triggered.

I followed the market till about 11pm and decided to square off my positions as follows: –

EURUSD squared at 1.1276

USDJPY squared at 108.97

Trading profit; USDJPY = 0.93yen and EURUSD = 46bps

Not bad, if I may say so myself.

Not much noise coming up to this even, but decided to put in a straddle trade with the following details: –

Spot 1.2701, Stop if Offered 1.2680, Stop if Bid 1.2720 with corresponding 20bps SLs.

CPI came out strong, PPI weaker, HPI, higher, so what we can deduce is that inflationary pressures are coming from asset appreciation and consumption.

Consumption ok, but asset appreciatio by way of high real estate prices is not healthy, more importantly, it gives BOE the ammunition to raise interest rates to stop the real estate market from over-bubbling.

I withdrew the straddle trade.