Sunday, March 04, 2007

Tokyo Opens in 1 minute, and the yen is deadly...

If you find yourself not playing Warcraft or ping pong on a Sunday night in the United States, in order to trade the Yen on a '1-minute' chart, volatility must be blasting out of 3 standard deviations. In less than 2 hours, the yen has strengthened almost 100 pips as people finally understand how a carry trade goes ugly. 'One day' of Yen appreciation has wiped out '6 months' of carry trade gains. On another note, I think Tiffany stock (TIF) warrants another look after the 5.5% disclosure by Trian Fund, which I would assume will be buying more this week after last week's -500 DJIA dip, perhaps the one diamond in the ruff in the contrarian's strategy. Did I mention that I'm a total dork?


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