Tuesday, 14 August 2007
After waiting long finally US dollar started moving up strongly. Commodities currencies (Australian and Canadian Dollar) came down around five percent from high, British Pound as well as Euro came down as predicted. We are very positive on Dollar and Japanese Yen and yes they are moving on the path we saw. Monday and Tuesday all currencies moved down quite sharply and look for opportunity of selling if they move up.
Grains should started trading weak from September so wait for some time to take long term short position. Our hedging of selling Soy oil is paying us nicely.
After sharp corrections oil is trying to stabilize but not much astrological strength it hold. We made nice money in Natural gas and now time to book profit. Avoid trading heating oil and RB gas,
We were expecting some correction in Cotton and coffee and now time to buy.
I am not happy with trend of Metals as I mentioned in newsletter that if they trade weak on Monday and Tuesday then we may weaker trend ahead. Copper is trading as predicted and it is in bear market.
WARNING - Once again I see big financial problem coming for Europe so please reduce you exposure from European market (equity, currencies and real-estate). I will write more on Europe in next week newsletter.
Thanks & God Bless