Tuesday, February 07, 2006

Portfolio update...a few things:

OK just a quick update on the "book"...I bought some more BT stock to
take it up to £100 a point (equivalent of about £21000 of stock)...just
think that this company is developing great technology and I wanted to
have a big enough position to benefit from it. See note from Jan 30 for
my thoughts.

I didn't sell 30yr Treasuries (yet)...all seems pretty volatile and I've
been surprised how well bid they've been, especially going into a new
30yr issue, PLUS I heard in pre-auction trading the new 30yr was trading
at 4.49% whilst the old (current) 30yr is trading about 4.64%...strange,
I need to look into that one. Will stop being a wimp soon and get
involved. I'm still short £10 a cent of the 10yr future anyway, which
I'm holding for the foreseeable future. And I'll be honest, I went to
the pub and didn't leave until after the Treasury market had closed (I
work on London time remember!).

See my other note from tonight on the £/$ FX trade...I still have a ton
of conviction on this one. And GMAC stock is off today, costing me a
good £600 or so, I'm a bit nervous about the UAW striking at Delphi,
could put GM into bankruptcy AWFUL fast perhaps? But if they can get
through that, I still think they solve their problems long-term.

Gold took a beating today, biggest $ fall in 13 years, still think its
an AWESOME long-term buy, perhaps versus shorting Oil, but I'll be
waiting for the right entry point on that one. Will outline the
rationale in another blog when I come to putting the trade on.

Year-To-Date P+L so far = £5,578. Pretty pleased with that. Hopefully
can be solidly past £10,000 by the end of this month...yes I know that
is not the run-rate I need to make a million but the more chips I get to
play with the bigger my bets can be! As always...feedback and ideas


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