I sold my FXE long position this morning at a tiny, tiny profit. Over the next hour, I entered into it again a couple of times, thinking perhaps I was being hasty, and each time, I exited with a small loss. I finally threw my hands up and decided it was an inadequate hedge.
As I'm typing this, it is falling to pieces, hitting new lows. I'm glad I'm out. It seems a distinct possibility to me that the "bounce" finished on Sunday night, and we're simply continuing down the inevitable path to 1.14 and Euro-destruction.
