Saturday, January 7, 2017

Bought UUP and URA

On the 4th & 5th Jan, bought 1507 units of the Global X Uranium ETF (URA), for total cost of USD 20611.24 (average price USD 13.67).  Thats the maximum I'm willing to risk, given operating leverage involved, and the fact that that the uranium price could be low for years.

Bought UUP (US Dollar Index ETF) on December 5th 2016.  800 units at USD 25.97, for a total cost of 20,781.59.  This fund replicates being long USD against other developed countries' currencies, mostly the Euro (Click on 'Portfolio' tab here).  Synthetic fund with a 0.75% management fee.

This is a small bet on the USD rising.  Whether its because of Trump, the falling Yuan, European elections, or whatever.  The main risk is that this is a consensus trade - google around, and you can't find anyone bearish on the USD or bullish on the Euro.

My portfolio is still 71% cash:

Just taking small bets.  Stocks in general are still expensive, especially the US.  I'm only really comfortable buying in a recession or crisis.

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