I haven’t been trading too much this week, there is has been a lot going on outside of trading. First, a little on the markets…the Dow had a dismal day, dropping over 300 points today.
They say is was because of the subprime market and the slowdown of the housing market. Wells Fargo, one of the countries largest lenders announced that they are shutting down their wholesale subprime operations. It was inevitable considering all the funky loans that were out there.
This is not good for people with less than perfect credit. I have had my hands full this week with real estate deals.
Back to trading…I just put on a carry trade. The markets moved like gangbusters last night and I didn’t catch any of it. I didn’t lose any money either, so I’m not complaining. Hopefully all the overhead in the carry trade has been cleared out, at least for awhile. L(1) NZD/JPY @ 91.94, damn this pair swings hard!
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