Tuesday, March 19, 2013

Superdry / JPY

I omitted to report earlier on my Superdry short trade, which died a miserable death. The stock did move in my favour initially but then reversed and moved massively against me. It returned to lower ground of course, but only after it had hunted out my stop-loss. Of course, it's nothing personal (!). On the upside, I did make a little out of the recent rally in USD/JPY, managing to ride on the coat-tails of the momentum of the funds. The sudden rush to safety following Cyprus has knocked me out of this trade as well, but I managed to lock in just enough to have me back at evens for the year.

Despite the common wisdom, I continue to believe trading currencies is safer than trading shares by a significant multiple.

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