Did my first actual trade of the Australian Share Price Index Futures. Using my Interactive Brokers account and trading on the Sydney Futures Exchange. Sold short at 6385 and closed at 6380. Five Australian Dollars commission each way. Each point is worth 25 Aussie Dollars. So a profit of $A115. Now that 115 dollars is sitting in my account separately from my US dollar balance of more than $17k. You can change it into US Dollars. If you lose they extend a loan to you in that currency. I guess they charge margin interest on that though they don't pay interest on balances less than $10k. I did do some simulated trades a while ago.
Also went short NQ at today's close. An earlier generation model gives a very powerful sell signal on the NASDAQ. There was a buy in October 2002 and nothing till this month using a monthly model. But it has no sell signal in any time frame for the S&P 500 which is weird. Subprime mortgage backed securities really plummeted today. The BBB grades have already fallen. Today was the turn of even AAA rated tranches. This could be a fundamental trigger for a selloff in the stockmarket. On the other hand treasury bonds rose strongly. Flight to quality?
3 comments:
Just wondering - now that you're on your way to Oz with SM, are you still planning on moving your assets to be 50% in USD and 50% in AUD? I'd have thought you'd reverse the trend away from AUD assets if you're planning on living here? Anyhow, with the size of the US Federal deficit I can't imagine the USD will appreciate much against the AUD. Despite the run up from around 50c to around 90c over the past few years, the AUD is still well below the levels back in the 70s (over US$1.30 at one time).
http://www.rba.gov.au/MarketOperations/International/_Images/ex_rate_rba_role_fxm_graph3.gif
The key issue here is that there has been more inflation over time in Australia thn in the US. So if the Aussie went back to US$1.30 it would be a lot more overvalued now than it was back then in the 70s. Right now I've put a hold on moving cash between the two countries as I want to have plenty available at both ends to fund the move. I still think 50% in AUD related assets is a huge overweight to Australia and so in the long-term I'd aim to get there. Until recently I was even more overweight the AUD because it was so undervalued.
isn`t it creepy, many people in Sweden think it is OK to have sexual thoughts and wishes about children.
My heart breaks...Sofia
http://sofiawinterborn.wordpress.com/2007/07/17/sofiasome-people-seems-to-think-its-normal-to-have-sex-with-children/
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