I don’t normally unwind my forex positions, carry trade can be quite profitable if managed carefully, but the last three weeks were turbulent. Don’t really see any positions to take at the end of the year. I am basically out of the market for all investment tools that is considered risky and have moved back to safer and low yielding alternatives. The effects of QE2 is still to be seen, but the markets have been see-sawing violently. Not for the faint hearted. Do not see any need to take the risk but rather retreat back. A bird in hand is definitely worth more than 2 in the bushes. Safer to sit back and look for clearer directions first. Ireland bailout, China Inflation, USA QE Bubble, Japan Deflation are in rotation plays and will continue to be so.

For those interested in speculations, do note that 95% of retail investors are normally burnt in forex and commodities, especially for commodities. If you want to win, simply bet against what they do. Cruel but very effective strategy.