I've been tending to a new pet project in the last days and only check the FX rates 10x a day. But I've found myself annoyed at missing a 150bp move on GBPCHF from below 1.6000 to 1.6150.
Also been doing a few equity trades unrelated to my personal account in the past two months. Sad to admit that I have underestimated this bull run. I did increase exposure for the managed acc in the second week of feb, only to reduce prematurely the second week of march. Now I'm going into dividend paying season underweight. Not a good thing. Especially as the return I generated with the trading is only 2% or so higher than the expected dividend yields on the specific shares (4%-6%).
All the sovereign debt crisis issues seem to be melting away across the CDS universe, with spreads narrowing significantly. That contrasts with some action on FX: My pet the swissie is still strong against the pound, but has bounced off the recent lows of 1.5930s to 1.6140. It's a wild ride that pair. Also watching the EURCHF that is on track to take out multi year lows of 1.44. It's not a good pair to trade unless there's intervention going on.
lol..only 10x a day
ReplyDelete