21 November 2008

Portfolio Changes

I started rebuilding my ultra-short China position during the rush of the last half-hour of trading today.

I picked up 100 shares of FXP at 3:36pm for the bargain price of $69.98. Bought another 100 shares at 3:53pm at a cheaper price of $65.98. Returned to the trough one last time at 3:57pm and grabbed another 100 shares at $63.49.

Cost basis of the new FXP position: $66.483

The bottom fell out of FXP today. On Thursday, FXP closed at $93 a share. This afternoon, FXP closed at $64.50, a drop of 30.65%:

No comments: