Monday, 10 March 2008

Feb P+L recap:

Have been away travelling plus also a little lazy with the blog. Was also having some problems with the spreadsheet, but I've fixed it now. This Google Docs thing is rubbish, they are kidding if they think they'll ever get people to move from Excel to an online application...

First up...February P+L was $15,463, pushing the total P+L since inception at the start of December to $39,433.

Most of the money was made being short equities and indices, and most of the equities I was successfully short was in sectors pretty close to this credit crisis (financials, reits, homebuilders etc). Also took some money out from selling options on GBP, and a little from being long 10y Treasury futures briefly, a trade that I'd intended to get back in on but I hated the price action as yields went from 3.55% to 3.90% pretty quickly. On the losing front, I got a good kick in the nuts from being short Oil, dropping around $15,000. Very frustrating, like I said I'd been on the road, and literally didn't even see it between ~88 to ~98. I'm mildly nervous on this one, although I think eventually fundamentals will kick in and take it all the way back down. We're already seeing fuel use fall in the US (can't remember where I read it so no link). Demand drop CAN take even oil prices down, and I don't think many people appreciate that.

My next post will follow shortly, detailing trades done over the last couple of weeks.

No comments: