Seeking Alpha
  • Paulo Santos
    2 reasons I'll spend the weekend not short AUD/USD: the carry, and the fear of a weekend drop in China reserve ratios.
    4/13/12
    Reply (8)
    • Ian Bezek: I covered my AUD/USD 3 minutes before my broker closed up today. I agree with you on the carry ... not sure I follow you on China.
      4/13/12
    • Ian Bezek: I will reshort Sunday night unless we gap lower.
      4/13/12
    • Paulo Santos: Ian, there's a rumor that China is already lowering reserve requirements on some banks, can announce it this weekend.
      4/13/12
    • Paulo Santos: Of course, it can all be bogus and made up by people defending their books ...
      4/13/12
    • Paulo Santos: I too will reshort if given the chance, but am really hoping that the rumor turns out true (so the price will be higher)
      4/13/12
    • Ian Bezek: Ah, yes, that makes sense. And I too would be happy if we open higher ... I have been caught off guard with how quickly we rolled over
      4/13/12
    • Ian Bezek: I have been short AUD, CAD, NZD and EUR for a few weeks against USD, but I should have used more leverage in retrospect.
      4/13/12
    • Ian Bezek: Hoping I get another crack at a bounce to short into before the market breaks down further.
      4/13/12