My personal portfolio
Comment of the Day

June 21 2010

Commentary by David Fuller

My personal portfolio

China tracker investment position increased; gold futures long closed as key day reversal develops; T-Bond futures short reopened

David Fuller's view (FXC LN) (weekly & daily) this morning, as strength following the yuan revaluation may lead to a resumption of the overall upward trend following a lengthy consolidation. I paid 8093.04p for this latest purchase in one of my long-term investment portfolios.

In my trading account, a breakeven stop was triggered for the more expensive half of my gold futures longs. Consequently an August long was sold at $1246 against my purchase at $1245 on 8th June. On seeing gold weaken further, forming an upside failure at $1250 and a downside key day reversal, I sold the second half of this position at $1240.9 against my purchase at $1220.9 on 14th June. Downside follow through tomorrow would suggest scope for an additional reaction. Lastly, I reopened a short position in US T-Bond futures, selling the September contract at 123.21. However this may be premature given the tail which developed on today's trading.

Prices on futures trades above include spread-bet dealing costs.

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