Thursday, November 13, 2008

Going Long GBP/USD

Okay, It's time to start shorting the dollar again. These straight shoots in one direction or the other is just ridiculous. In addition, there is a mantra in the market that the sky is falling. To me this has always meant that things are going to turn around sooner than later. Even if GBP goes lower over the next couple of days, I'll still going to hold on and will probably increase my position. As far as shorting the market, I still have puts and shorts which I have tightened up stops on even more than I did this morning.