Registered: Mar 2012
03-06-12 05:37 PM
Down 50% shorting Emerging markets futures on european crisis.
Too much manipulations by politicians.
Firing of ecb president and replaced with draghi who would loan 1 trillion plus euros to banks and accept worthless greek debt as collateral.
Troika ousting greek PM to be replaced by an un-elected puppet.
53% debt haircut not a credit event.
Had a nice profit before all of those events.
The rule of law and unilateral ex-post facto contract changes by powers that be make it impossible to correctly interpret the facts.
2Weeks ago used XIV as hedge didn't work as expected.
Threw in the towel last week dumped short EM futures went long XIV.
Lo and behold today the hedge would have worked beautifully and shorts would have regained 40% of losses in one day.
Down another 7% today so now down 57% give or take.
Not sure I'll be posting instrument positions probably just returns, maybe an account screen shot when i figure that out.
Stay tuned I don't call myself Phoenix trading for nothing.
PS: yes it's real money in an IRA