Friday, March 30, 2012

Shorting the Gnomes of Zurich

It's a struggle finding shorts beginning with G. In this case it's a silent G.

The trade would be long EUR/CHF. Duration: 1-3 months. Current spot: 1.2039/40. Stop-loss at 1.1999.

Do I have the trade on. Kind of, but not really. I'm long at 1.2047 in small size, with a plan to scale into the trade at 1.2030 and maybe once again lower down.

Come on the Gnomes, keep repatriating the Swiss Franc and force the SNB to intervene.

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