Monday, February 12, 2007

You have to buy Eurodollar here

So I did. Paid 94.82 for £30/tick, adding to the £120 I already have. Te housing meltdown, and subsequent pain being felt by mortgage lenders and homebuilders is just beginning to get the publicity it deserves, and I think this could indicate the start of the slowdown cycle, where GDP growth slows, unemployment increases, and the Fed has to embark on a rate-cutting cycle to hold the economy up. Just 1 cut this year will see me breakeven on this trade (approximately).

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